Blowtorch needed for ancient payment methods
Shredding demand for cheques and melting down more coins are both on the wish list of banks.The Australian Payments Clearing Association told the Financial System Inquiry it wanted the Australian Government to remove all legislative references to cheque payments, to help stamp out residual demand for the ageing form of payment.APCA also wants the Australian Mint to take back surplus coin holdings, stored at present at cash handling centres.