Countries that Are Going Cashless



Citibank in Australia decided in November 2016 to get rid of cash at all its branches. This includes no cash machines. The decision was based on lack of consumer demand, as only 4% of its customers made cash transactions at a branch last year. Citi's head of retail banking Janine Copelin reportedly said, ​"This move to cashless branches reflects Citi's commitment to digital banking and we are investing in the channels our customers prefer to use." The same month, UBS analysts recommended that Australia phase out its AUD$100 bill, arguing that it would reduce criminal activity on the part of those who prefer to avoid a digital trail, and that increased deposits of the bill would create a type of forced savings for Australians.

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