Huddle up, shabab. I've got some devastating news. I might as well rip off the Band-Aid. Wallah, it's about the end of an era for us cash-lovin' Lebanese-Aussies, notorious for paying for everything from our falafel wraps to our employees, in cold, hard cash.
@basketballmumma How the hell can you go to a bank and be told you cannot access your own money ? #ridiculous #boymum #workfromhome #passiveincome theworldhasgonecrazy #decentralized #givememymoney ♬ original sound - Taryn Compton
So here's the deal, the Commonwealth Bank is closing its counters to cash. Yep, you heard right. No more strolling in to withdraw or deposit your good old Aussie dollars at many branches. They're calling these places 'specialist centres' now, whatever that means. I tried to get my head around this new term, but the only special thing I could see was my precious cash flying out the window.
It seems we're still good to use the ATMs on-site. But what if you forget your bank card? 'Cardless cash' is an option, but with a daily limit of $500. So, if you're like me and like having a wad of cash in your pocket just in case you stumble upon a good deal or need to pay your employees, you might need to plan your withdrawals a bit more carefully.
But it gets worse, cuz. If your local branch has gone all 'futuristic' and you don't have your phone or card, then you'll need to play a little game of 'find the treasure' where the treasure is an old-school branch that still does over-the-counter transactions. Fun, right?
But wait, this saga isn't exclusive to Commonwealth. Our dear friends at ANZ also decided to jump on the 'cashless' bandwagon earlier this year. And get this, some customers had no clue until they found themselves at the counter asking for cash and getting a head shake in response. Can you imagine the shock?
The banks seem to be pushing the narrative that digital is the way to go. But the question is, at what cost? Let's not forget the time Commonwealth customers were left high and dry after the bank's app crashed. No transactions, no access to money, and definitely no payday for your employees. What a nightmare!
And let's not forget the security issues. Scammers are having a field day with this digital thing. They can dupe shabab into transferring huge sums in an instant. Plus, there's the issue of privacy. Every digital transaction leaves a trace, and you never know who's watching.
To top it all, this move to cashless has some real-world implications. The elderly folks, who are used to cash transactions, are left scratching their heads. Rural communities might struggle due to poor connectivity. And let's not forget the small businesses that might suffer due to processing charges on digital payments.
In all honesty, I'm going to miss the cash times. It was simple, tangible, and it kept us all grounded. The touch, the smell, the feel of cash, there's nothing like it. But I guess we'll all have to adapt and keep up with these changing times. It's like they say, cash is king, but in this case, it seems the king is being dethroned. Brace yourselves, cuz. It's a new world out there. Stay safe and don't forget, Yalla, we'll get through this.
