Tuesday, 11 February 2020
Cashless Debit Card
That the Senate—
(b) recognises that compulsory income management disadvantages people on low incomes by limiting their ability to shop around and make savings where purchases can be made through cash;
(c) acknowledges that rolling out compulsory income management to people on income support payments would remove the choice and control they have over the financial products and services they use;
(d) further notes that the Australian National Audit Office found that there was no evidence that there has been a reduction in social harm following the introduction of the CDC;
(e) urges the big four banks, EFTPOS and major retailers not to facilitate any national rollout of compulsory income management, including the CDC; and
(f) calls on the Federal Government to be honest and transparent about its plans to rollout compulsory income management to income support recipients across Australia.
The cashless debit card looks and operates like a standard debit card and supports a range of flexible payment options, including online transfers, BPAY, most online shopping and recurring deductions. The only time the card cannot be used is for the purchase of alcohol, gambling products, some gift cards or to withdraw cash. The government is committed to the continuous improvement of the cashless debit card so people can have access to the most current technology and features and continue to use it as a financial budgeting tool. Any discussions with banks and retailers will focus on improving users' experience and providing a choice to participants.