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RE: The War On Cash Goes Nuclear In India, Australia and Across The World

in #money8 years ago

You're talking about Citibank as if it were the whole Australian economy. It has virtually no presence here. Their decision would most likely be based on the type and number of customers they have. Cash is still very alive here, I should know - I deal with it daily.

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I agree did not see your reply before i posted mine citi is a bad source. Do they even have the savings protection that the Australian banks have from the government on personal savings if the bank goes under.

That's a good question about the savings protection. I don't know if they do or not, although my guess is it would apply to them, as part of the official banking system. But they represent a tiny fraction of the market - perhaps less than 1%. Mostly they just solicit credit card customers, which would explain why their customers don't deal in cash.