Woolworths cash policy change sparks customer outcry

• By Avi Yemini

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A veteran staff member of Woolworths, Darren Morfoot, with twenty years of service, expressed dissatisfaction with the supermarket's amended cash policy.

Formerly, customers could withdraw small amounts of cash without making a purchase, but now, a transaction is mandatory for withdrawals, a change that Morfoot highlighted on Facebook this week.

Morfoot, hailing from Bondi in Sydney, disclosed his surprise at the new policy, stating:

"Since when did Woolworths introduce that you have to buy something in order to just withdraw cash. Only found that out today."

The adjustment in policy is reported to align with Woolworths' broader strategy to 'adapt to changing payment preferences,' as indicated by a company spokesperson citing the decreasing use of cash.

Last year, Woolworths reduced the maximum cash withdrawal amount from $500 to $200 and implemented the purchase prerequisite for cash withdrawals.

While claiming to recognise the importance of cash for some customers, Woolworths said it was committed to maintaining cash withdrawal facilities 'despite the evolving payment landscape.'

The shift towards cashless transactions has raised concerns among Australians, particularly regarding access to funds during service disruptions and the potential for increased cyber threats.

With cash predicted to represent just 2% of point-of-sale transactions by 2025, the debate over the implications of a cashless society continues to gain traction.