Ed,

The banking inquiry has heard from the heads of banking with the head of the Commonwealth Bank saying it costs four dollars for every customer to provide cash to banks, but I’d be sure it would cost the Commonwealth Bank $200 dollars per customer to protect customers from digital scams, thus it is more expensive to look after online accounts. Furthermore, they are trying to push business and personal customers to online accounts by either hiking fees or just giving them no alternative, pushing vulnerable people both elderly and young into very confusing positions if they’re not tech savvy or live in an area of poor reception.

Furthermore, if cash goes, card fees will go up and up and up like health insurance and power prices you’ll be paying two thousand dollars a year in fees. The fact the banks have posted billions in profits means they can afford to keep rural banks and cash as well as digital services. People need choice and the federal government must mandate this from the banks.

They can’t have Carte Blanche to do as they please.

Alan Mosley, Yamba