Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Fact Check: World Health Organisation Advice On Cash – Use It Safely

The World Health organisation has not issued any warnings about not using cash. Retailers, shops and merchants in Australia and New Zealand must allow consumers to pay with cash if they choose. RBA rules require merchants to provide a surcharge-free method of paying for goods and services and that is usually cash. Retailers should provide hand sanitiser at the point of sale and accept cash. 40% of consumers are deterred from using shops that refuse to accept cash.

The World Health Organisation has made public statements to counter the false claims.

“We did NOT say that cash was transmitting coronavirus,” said WHO spokeswoman Fadela Chaib, “We said you should wash your hands after handling money, especially if handling or eating food. Doing so is good hygiene practice.”

Here is another fact check on this issue by a reputable British organisation. The Reserve Bank of Australia has also looked at the issue and decided that Australian notes are a minimal risk of virus transmission.

Cash must be widely accepted and available in Australia and New Zealand to maintain a strong economy and include the many groups who rely on cash.

Last week Commonwealth Bank’s Netbank, Commbank app, credit and debit cards and merchant payment system outage demonstrated the extreme dangers of a cashless society. Retailers can lose a day’s takings because they have no cash float or their buyers have no cash.

“Retailers are vulnerable and millions of people are left behind in a cashless economy,” said Tim Wildash, Chief Executive Officer of leading independent ATM supplier, Next Payments.

“All retailers must accept cash and banks must keep their ATMs and branches open.”

“I am urging government and regulators to act and ensure that cash remains widely accepted in Australia.

“The financial system and economy are weaker without ready availability of cash,” said Mr Wildash.

“Cash is safe, reliable, private and has no hidden fees or merchant surcharges.

Reserve Bank of Australia documents released under Freedom of Information on the 3 June 2020 show the RBA has concluded cash poses no significant risk of carrying viruses. Debit and credit cards may carry many more germs than bank notes and coins according to recent American research.

The Royal Australian Mint says there is no evidence linking cash to the transmission of COVID-19.

Cash is sanitised before being delivered by cash companies to venues and ATM operators.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Retail: Post-Lockdown Retail Card Spending Picks Up

The rise in retail card spending was boosted by sales of furniture, hardware, and appliances, Stats NZ said today. “For a third consecutive month, card spending on the long-lasting goods (durables) remained at higher levels than last year, after ... More>>


Contact: Business Drops, New Generation On Hold

New Zealand’s second-largest energy company Contact Energy (‘Contact’) released its full year financial results for the 12 months to 30 June 2020 (‘FY20’) this morning. More>>

Mining: OceanaGold Announces Receipt Of WKP Mining Permit

MELBOURNE, Australia, Aug. 6, 2020 /CNW/ - OceanaGold Corporation (TSX: OGC) (ASX: OGC) (the 'Company') is pleased to announce it has received the mining permit for Wharekirauponga ('WKP') on the North Island of New Zealand. ... More>>

ALSO:

Economy: COVID-19 Lockdown Has Widespread Effects On Labour Market

In the June 2020 quarter, the seasonally adjusted unemployment rate fell to 4.0 percent, down from 4.2 percent last quarter, while underutilisation rose, Stats NZ said today. More>>

ALSO:

NZ Post: New Research By NZ Post Shows Online Shopping Grew 105% In Alert Level 3

New research by NZ Post into how the COVID-19 response has impacted the way Kiwis shop online, shows online shopping increased 105%* when the country moved into Alert Level 3, and may have changed the way Kiwis shop permanently. Online spend peaked ... More>>

ALSO:

Banking: Westpac NZ Lowers Merchant Fees For Small Businesses

Westpac NZ is rolling out a new merchant fee pricing structure that will lead to cost savings for more than 10,000 small and medium Kiwi businesses, and could make contactless transactions more widely available for customers. On 1 September, most ... More>>

Antarctica NZ: Ice-Olation

Antarctica New Zealand is gearing up for a much reduced season on the ice this year and a very different deployment to normal! Before they head to one of the remotest places on the planet, all personnel flying south with the New Zealand programme will ... More>>

ALSO:

QV Valuations: July House Price Index Illustrates Market Resilience

According to the July 2020 QV House Price Index (HPI) results out today , property values recorded a marginal increase, up 0.2% over the month. This is somewhat of a turnaround from June, after the national index edged 0.2% lower. More>>

ALSO:

Property: Queenstown Rents Experience Biggest Drop In Seven Years

Rental prices in the Queenstown-Lakes district saw the biggest annual percentage drop in seven years after falling 28 per cent on June last year, according to the latest Trade Me Rental Price Index. Trade Me Property spokesperson Aaron Clancy said ... More>>

Seismology: The Quiet Earth

As many daily activities came to a halt during lockdown, the Earth itself became quiet, probably quieter than it has been since humans developed the technology to listen in. Seismologists have analysed datasets from more than 300 international ... More>>

RNZ: James Shaw Says Kiwibank, Not Ministers Should Decide On Investors

Climate Change Minister James Shaw says Kiwibank's decision to stop doing business with companies dealing in fossil fuels is the right one. More>>

ALSO:

FMA: Kiwis Confident Financial Markets Will Recover From COVID-19, Plan To Increase Investments

Despite the majority (60%) of investors experiencing losses as a result of COVID-19, the outlook on investing remains positive, according to a Financial Markets Authority (FMA) survey. Most Kiwis (71%) were optimistic that the pandemic will pass eventually ... More>>

FIRST Union: Warehouse Using Covid For Cover As Extensive Restructure Makes Everyone Worse Off

(FIRST Union comments on The Warehouse consultation and proposed restructure) 'Unfortunately the Warehouse have done the disappointing thing and used Covid-19 to justify a bunch of operational business decisions that will leave hundreds of workers without jobs ... More>>

ALSO: