New Zealand Reserve Bank Weighs Mandating Cash Services, Trials Rural ATM

As banks close branches, New Zealand’s central bank is considering ways to ensure cash remains accessible, including providing it directly.

The ATM and change machine installed in the small New Zealand town of Waipukurau by New Zealand's central bank. Courtesy of Reserve Bank of New Zealand

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.