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PayDay News | Australian Payments News

Aussie banks push back on kiwi cash mandate

Senior Business Correspondent
1 Jul, 2026
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Michael Sainsbury
Senior Business Correspondent
1 Jul, 2026
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Across the Tasman, CBA, ANZ, NAB and Westpac are replicating their home-grown struggle with cash – who pays for legal tender to be distributed across New Zealand through a single cash-in-transit operator.
Aussie banks push back on kiwi cash mandate
RBNZ director of money and cash, Ian Woolford, said: “We believe banks must provide cash services to customers free of charge because cash is an essential part of a customer’s relationship with their bank”.

Across the Tasman, CBA, ANZ, NAB and Westpac are replicating their home-grown struggle with cash – who pays for legal tender to be distributed across New Zealand through a single cash-in-transit operator.

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