An Aussie diner has sparked debate after revealing the “sad” reason its ATM was removed from its premises. The Brisbane business said there were major risks that came along with the shift towards cashless payments and it's "only a matter of time" before customers bear the brunt of it.

Joe’s Diner Eagle Farm shared its ATM was removed this week and claimed the machine provider told them it wasn’t being “used enough to warrant having it”. Cash made up just 13 per cent of payments in Australia in 2022 and that figure is expected to drop to just 4 per cent by 2030.

As card becomes the dominant form of payment for Aussies, RMIT associate professor of finance Dr Angel Zhong told Yahoo Finance businesses were faced with the “dilemma” of copping the associated EFTPOS fees and charges, or imposing a surcharge on customers.

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“I don’t think people quite realise what comes with having no cash,” Joe’s Diner Eagle Farm wrote on Facebook.

“The EFTPOS fees that we pay to the banks [are] crazy and it’s only a matter of time before every business charges those fees to the customer.

“It’s getting harder and harder for every small business to survive. Sad times but it’s the reality facing everyone.”

The Reserve Bank of Australia (RBA) estimated EFTPOS payments cost less than 0.5 per cent of a transaction to accept, Visa and Mastercard debit cards cost between 0.5 and 1 per cent, while Visa and Mastercard credit cards cost between 1 and 1.5 per cent.

Joe's Diner said businesses would soon have "no choice" but to pass on these costs to customers.

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ATMs in Australia dwindle

The number of bank and privately-owned ATMs in Australia have been decreasing as cash usage drops.

Bank-owned ATMs dropped to just 5,693 in June 2023, according to Australian Prudential Regulation Authority (APRA) data. That’s more than half the 13,814 ATMs that were once available in Australia in 2017.

APRA doesn't have data on the non-bank ATMs in Australia however, industry association Australian Payment Networks reported that there were a total of 23,769 ATM terminals in June 2024. That would mean there are about 18,000 private ATMs.

Aussies weigh in on cash usage

Hundreds of Aussies have responded in the comments of the post, with many agreeing with the diner’s sentiment.