Access to cash

Is cash important to you?
 
Kia ora, I’m Robbie, Manager of Money and Cash Policy here at Te Pūtea Matua, the Reserve Bank of New Zealand.

For a number of years we’ve been asking Kiwis if they still want the option of using cash. The answer’s been a resounding, unambiguous Yes. And we’ve been asking businesses if it’s getting harder to handle cash – and yup, the answer is another resounding, unambiguous Yes.
 
So we have come up with a plan to make sure New Zealand keeps cash. We want to know what you think.

Our plan is to introduce a cash services standard that banks would have to meet. The standard would create a minimum number of locations across New Zealand to access cash services.

This means that wherever you are in New Zealand, you will be able to withdraw, deposit or swap cash close to where you live.
 
As part of our plan, we’ve got maps that show what our proposed standard could deliver in each district of New Zealand. 
 
Visit our website to check out the plan for yourself. It's designed to deliver what you need, but we need your help to get it right.

Find the plan at rbnz.govt.nz

For the purposes of this consultation by bank branch we mean a place where customers can speak to bank staff (in person) and access a wide range of services. Most branches have ATMs and over the counter cash services. Branches have staff to assist customers. In some places Kiwibank offers branch services through an agent, such as a newsagent.

Think of it like a smart ATM with change services that you can use no matter who you bank with.  In our proposal a multibank solution is a shared cash services site where multiple banks jointly provide free, full cash services—withdrawals, deposits, and change—to customers of any bank, making it easier for people and businesses to access and deposit cash. Our consultation documents include maps that show potential cash services footprint for each district if banks choose to use multibank, full-service cash sites to meet their obligations under the standard. These are indicative only. If banks choose to meet their obligations individually, significantly more cash sites will be required than are indicated in the maps.

A cash depot is a secure site available within a community where approved users can access and use automated cash handling equipment (machines), to withdraw cash, change banknotes for coins, or smaller notes, and soon be able to deposit cash. A cash depot is a key part of our community cash trials. Through the trials we’re researching new ways to help businesses and community groups in rural areas access cash services where there are limited bank services or ATMs.