Woolworths is moving to reduce cash withdrawal limits in stores as the supermarket giant sees customers move towards card-only payments.
A Woolworths spokesperson confirmed that the amount of cash a customer can withdraw at a store will change from $500 to $200 from mid-September.
9news.com.au understands the change starts this week.
“We will be reducing the limit of cash customers can withdraw from our stores per transaction,” the spokesperson said.
“This is due to the lack of cash being used in transactions, with the majority of customers opting for card-only transactions such as Everyday Pay.”
Woolworths is also planning to introduce changes in the coming months that will mean customers need to purchase a product to withdraw cash, similar to other retailers like Coles.
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Currently there is no requirement to purchase a product to withdraw cash at the retailers and there is no surcharge.
It comes as dozens of bank branches begin to close and ATMs become harder to find.
Woolworths noted the importance of keeping cash withdrawal services despite the cost to the retailer to stock cash in amid the rise of cashless payments.
“We understand cash remains an important payment option for some customers and that’s why we’ll continue to offer the ability to withdraw cash,” the spokesperson said.
