On Tuesday, April 22, 2025, Australians participated in a nationwide movement known as Cash Out Day, aimed at highlighting the importance of maintaining physical currency as a viable payment option. This initiative, spearheaded by Jason Bryce, founder of the advocacy group Cash Welcome, encouraged individuals to withdraw large sums of money from banks and ATMS to demonstrate their support for cash.
The event was a response to the growing trend towards a cashless society, which gained momentum during the COVID-19 pandemic. Card companies and retailers promoted digital payments, citing concerns about the hygiene of cash, leading to a significant decline in its use. However, advocates argue that cash remains essential for accessibility, privacy, and financial inclusion, particularly for seniors and those who are not tech-savvy.
Cash Out Day saw an estimated two million Australians participating, with long queues at ATMS and social media filled with images of participants proudly displaying their withdrawn cash.
Although the total amount withdrawn was not officially disclosed, the pro-cash community reported a collective withdrawal of $500,000 in previous events. The movement emphasises that cash is legal tender and should remain available for all transactions.
The Australian Banking Association (ABA) noted that while there was no significant spike in withdrawals last year, the event serves as a symbolic gesture against the shift towards digitised payments. The RBA has committed to ensuring that cash remains a viable means of payment for as long as Australians need it. National Seniors Australia has been a strong supporter of this initiative, highlighting the challenges faced by seniors who rely heavily on cash due to difficulties with digital banking.
As the world becomes increasingly digital, Cash Out Day underscores the importance of maintaining a balance between technology and traditional payment methods. It serves as a reminder that cash continues to play a vital role in many people’s lives, providing a sense of security and autonomy in financial transactions.