Cash and cheque services in Macquarie offices will be discontinued next week
Customers of Macquarie Bank will no longer be able to make certain transactions at its branches starting next week as the bank transitions to digital-only payments.
From Monday, May 20, customers will not be able to access over-the-counter services at Macquarie offices, deposit or collect cheques at a Macquarie office, or order new chequebooks.
This follows the bank’s earlier decision to end phone banking services in March. By November, Macquarie Bank customers will also be unable to write or deposit personal cheques, request bank cheques, or make superannuation contributions via cheque at NAB branches.
“We understand that access to cash is important for many Australians, which is why Macquarie customers can continue to withdraw cash from more than 24,000 ATMs across Australia as normal,” the bank stated. “We will also pay for any fees customers may be charged when withdrawing cash from ATMs in Australia with their Macquarie debit card.
“Macquarie customers can also make cash withdrawals at the point of sale with their Macquarie debit cards from more than 3,000 retail outlets across Australia, including at popular stores like Woolworths, Big W, BP, Caltex and participating IGA stores.”
Macquarie said it has made the transition as the majority of its customers engage with them online, and that they see very low usage of the services that they intend to phase out. The changes are anticipated to impact less than 0.1% of the bank’s customer base.
“As a digital bank, we’re committed to transitioning to completely digital payments, and continuing to ensure our customers and businesses can access secure and reliable digital payment options,” the bank said.
“Digital banking is a safe, quick, and more convenient way to transact because you can view and track transactions and other account activity in real-time. When you make payments via cash or cheque, you also run the risk of it being stolen or lost in the mail.”
What are your thoughts on Macquarie Bank’s decision to transition to digital-only payments? Comment below.
