New Zealand’s central bank is considering requiring commercial banks to provide basic cash services nationwide, as it launches a public consultation on how to ensure continued access to physical money.
The Reserve Bank of New Zealand (RBNZ) says people in rural towns with populations between 200 and 999 should not need to drive more than 15 kilometres one way to access cash services. Those in more remote areas should nto need to travel more than 30 kilometres.
Under the proposal, banks would be required to provide a minimum level of cash services so that people, businesses, and community groups can withdraw and deposit cash and obtain change free of charge within those catchment areas….
New Zealand Reserve Bank Weighs Mandating Cash Services, Trials Rural ATM
