Australia Post Spending $4,000 per Week to Keep Cash Flowing in Remote Town

Australia Post CEO Paul Graham revealed the hard realities of keeping cash flowing in remote communities where bank closures have become more common.

This photo illustration shows three Australian banknotes taken in Melbourne, Australia on Oct. 12, 2020. William West/AFP via Getty Images

Australia’s national postal service is spending $4,000 per week to fly cash into the remote mining town of Coober Pedy to keep hard currency circulating in the community.

Australia Post CEO Paul Graham had previously revealed the company would back the ongoing use of cash—as bank branches close in regional areas—but noted that this was not a sustainable solution.