Large Bank to Phase out Cash, Checks, Phone Payments

Macquarie Bank, Australia’s fifth-largest bank, announced it will phase out cash, check and phone payments in 2024 as it transitions to digital-only transactions. The bank told customers they’ll be unable to write or deposit checks and withdrawal or deposit cash over the counter by November 2024. “Between January 2024 and November 2024, we’ll be phasing out our cash and check services across all Macquarie banking and wealth management products.”