Bill to assure cash option
New Zealand First has introduced a Member's Bill to safeguard New Zealanders' use of cash.
The Bill would secure cash as a private, accessible and reliable form of payment.
The Cash Transactions Protection Bill would require vendors to accept cash for purchases up to $500.
It highlighted cash as a critical tool for vulnerable populations such as rural communities, the elderly and low-income earners facing barriers to digital banking.
New Zealand First leader Winston Peters said people who relied on cash because of barriers to digital banking deserved assurance it would be preserved in an increasingly digital world.
"The Bill ensures that New Zealanders maintain freedom of choice in how they pay, preserving cash as what it should be: an enduring private and reliable option," he said.
Grey Power New Zealand national president Gayle Chambers said, in her personal view, it was "a great Bill".
"To have a cashless society is unthinkable."
Many people carried cash for various reasons such as attending garage sales, school galas or car boot sales.
It was useful when paying for small change items, such as a newspaper or a lollipop.
It became essential when eftpos terminals failed and retailers could only accept physical currency.
From paying the lawnmower man to the tooth fairy, the list went on, she said.
"Hard cold cash should always be legal tender."
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