The Reserve Bank is moving ahead with a trial partnering with retailers in eight small towns using smart ATMs to provide more cash services.
They would be fee-free cash outs to customers - with or without purchase - and provide local cash deposit and withdrawal facilities. The central bank says smaller communities lack over-the-counter or ATM cash services and the trial is an attempt to remedy that.
Eighty towns have expressed interest in being part of the experiment - eight towns in two districts will be selected. This comes as two Parliamentary select committees are probing the banking sector, including one focussing on rural banking.
Reserve Bank director of money and cash, Ian Woolford, speaks to Kathryn about what comes next in their research.
Photo: Creative Commons / Pixabay / 3dman_eu
