The Future of Cash – Te Moni Anamata
Cash use is falling, but some of us rely on it more than others. There’s no obligation on any person or organisation to give out or accept cash (except to receive payment for a debt). Declining cash use is one of several pressures on the cash system which involves the many organisations and individuals who move, store, and use cash. The cash system includes the Reserve Bank – Te Pūtea Matua which wants to ensure its own vaulting and cash operations are best suited to the future.
The Reserve Bank is encouraging Cash Conversations – He Kōrero Moni about the future of cash in New Zealand. This section provides information and ways so that you can kōrero moni with us and others concerned for the futures of cash use and the cash system, and their impact on New Zealanders.
We’ve set out what we think the key issues are if New Zealand had less cash being used and accepted. We invite your online feedback (by 31 August 2019) on whether we have correctly identified the most important issues and if there any others to take into account. We are also seeking early views on whether there’s a role for government and the Reserve Bank to deal with the downsides of less cash.
The cash system includes all the activities, organisations and individuals involved with making, storing, moving, using, destroying, and accounting for cash. It has evolved over time, and not directly defined or regulated. The Reserve Bank is working with the banks, armoured car companies and other participants to see if the cash system can be made more efficient and resilient.
Research New Zealand, on behalf of the Reserve Bank, ran a survey in 2017 to get better insight into how we use cash in New Zealand.
Here are some common questions that come up when we kōrero moni - and their answers. This list will grow as questions come in or get raised in Cash Conversations. If you can’t find the answer to your question here or on our wider website then you’re welcome to ask us directly – and we may even add your question and answer to this list.
The issues which New Zealand is facing with cash are facing other countries as well. This section provides links to selected news stories and website from New Zealand and around the world to inform and stimulate thinking and discussion. The Reserve Bank does not endorse or take responsibility for the views or external websites which we link to.
This section also provides a library of presentations and papers produced by the Future of Cash – Te Moni Anamata programme for further background.
The Reserve Bank is the sole supplier of New Zealand banknotes and coins. We act as a wholesale distributor to the trading banks, and manage the design and manufacturing of the currency. We also withdraw damaged or unusable notes and coins to manage the quality of currency in circulation.