Macquarie Bank will no longer accept cash from customers in just five days.

Attention all customers! Big changes are coming to one of Australia's major banks. In just five days, this institution will be shifting to a digital-only payment system at its own offices. This move has been in the works since last year, when Macquarie Bank first announced its plan to become one of the first banks in the country to go completely cashless.

Starting on May 20th, customers will no longer be able to do things like deposit or collect cheques, or make payments over the phone at Macquarie's offices. These services will now only be available through digital means. But don't worry, if you have a Macquarie Transaction or Offset account with a Macquarie Debit Mastercard, you will still be able to withdraw cash at ATMs across Australia without any fees.

And that's not all - by November 1st, this bank will be completely cashless. This means that customers will no longer be able to write or deposit personal cheques, request bank cheques, deposit cash or cheques over the counter at NAB branches, or make super contributions or payments via cheque. Any cheques received after October 31st will be returned to the sender.

But why the shift to digital? According to a spokesperson for Macquarie Bank, this move is part of their commitment to providing safer, faster, and more convenient banking options. They also noted that the majority of their customers already bank digitally, and they are working closely with the small percentage who still rely on cheques or cash to ensure they have access to other digital payment methods.

While this change may be exciting for some, it has also been met with criticism. Some have raised concerns about how it will affect certain groups of people who rely on non-digital services the most, such as the elderly. However, the bank has assured that they are taking steps to support these customers during the transition.

So, mark your calendars for May 20th and November 1st, and get ready for a more digital banking experience with Macquarie Bank. And for those who are still adjusting to this new way of banking, don't worry - the bank is here to help make the transition as smooth as possible.

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