COVID-19 cash trends emerge as traditional banking methods decline

Economic uncertainty and low interest rates, along with the inability to use it due to lockdown, have been listed as reasons why more Australians have cash at home than pre-pandemic.

Tom Elliott was surprised to hear it, given ATMs are disappearing all over Australia and some businesses don’t even accept cash anymore.

But the volume and value of $50 and $100 bills is reportedly increasing.

Economist Saul Eslake said it was hard to know for sure, but he said there was logic behind it.

Press PLAY below to hear Saul Eslake explain

Picture: Getty iStock