First it's Latitude bringing in $8/month account keeping fee, now Westpac is removing their Cardless Cash feature effective tomorrow!
For me, I need Cardless Cash as it was the last puzzle piece to finally not have to carry a wallet. Might need to look into moving my banking to CBA now…
How does this impact other OzB Westpac customers?
Maybe better for you to use Prepaid Visa card, so no overlimit. You just reload as needed. Put the rest of the money in term deposit, so you cannot use the money straight away.
I liked the cardless cash so you cant just pull it all out at the atm at the pokies haha. You would have to go for a walk or a drive to a westpac atm and by that time have cooled off trying to chase your losses and didn't bother.
Banks are dumping all their branded ATM's,
so it's a feature that can't exist outside their network.
I use this feature with Commonwealth Bank, thought it would be safer than inserting a card as less chance of card skimming.
Even though I hardly use cash and only carry about $100 on me for cash only places or if the eftpos system crashes.
I generally use Apple Pay on purchases and have my physical cards deactivated for tap and go, to reduce someone cloning my card.
I left my wallet home today. Normally visited my usual joint and paid by cash but because cardless cash is removed, forced to use card and copped the surcharge. So that's one use case gone now.
If wallet is stolen (and cards stolen too), banks are closed (after hour), and you desperately need to buy something but still have your phone, that's another use case gone.
I have cash at the back of my phone between the phone and phone case. When I need, I just take it out from the back of the phone.
Or use Apple/Google Pay to pay.
Certain restaurants and stores also accept PayID.
Do not rely only on 1 bank. It's better to have some different bank accounts with the cards + virtual cards like Up bank, Wise or Revolut.
This is good advice.
I use cardless cash and throw out my atm card to stop me wasting money gambling. That way my limit is 500 a day and 1000 a week. I told westpac that and said i wanted the same with my atm card now cardless cash is gone. And they said the lowest is 1000 a day so 7000 a week. Mother f'ers.
They say not many people using it , its been hidden in my westpac app for like 6 months and i have to click the search button to find it. So they have artificially made less peope use it recently to justify their bs. Why do banks think no one will ever leave them and can do what they want in australia