THE end of card surcharges could change the way Australians pay at the checkout, but seniors are being reminded there are still good reasons to keep some cash on hand.
From October 1, separate surcharges on most credit and debit card transactions are no longer allowed.
The change follows a Reserve Bank of Australia review of merchant card payment costs, with major payment networks including eftpos, Visa and Mastercard moving to prohibit card surcharges.
For seniors managing tight household budgets, the removal of an extra card fee may be welcome news.
However, businesses will still face costs when customers pay by card, and the RBA has noted retailers may choose to build those costs into their general prices rather than display them as a separate surcharge.
Businesses can instead offer discounts to customers who use lower-cost payment methods, including cash.
That could make cash an increasingly useful option for shoppers looking to keep an eye on their spending.
National Seniors Australia has long campaigned for cash to remain widely available, arguing it is particularly important for older Australians who may prefer cash or face difficulties accessing digital payment systems.
Cash can also provide a useful backup during internet outages, natural disasters and telecommunications failures, while connectivity can be less reliable in some regional and remote communities.
The organisation is also calling for continued access to bank branches, ATMs and face-to-face banking services.
Research by consumer group Choice found two-thirds of respondents in a 2024 survey had frequently encountered debit card surcharges, while many consumers did not expect to pay extra when using a debit card.
As retailers adjust to the new rules, shoppers could begin seeing more discounts linked to payment methods rather than additional card fees.
