The annual report of the Reserve Bank’s Payments System Board, which was released yesterday, shows that debit card and BPay transactions are the areas of fastest growth in retail payments.
The most common way consumers withdraw cash is from ATMs, which account for 60 per cent of the value of cash withdrawals and 71 per cent of the number of withdrawals. The average withdrawal from an ATM in 2012/13 was $185.
Withdrawal from point of sale terminals is the next most common means of withdrawing cash, accounting for about a quarter of the number of withdrawals and seven per cent of their value. The average withdrawal was $63.
Source: Banking Day