New Zealand consultation finds strong support for access to cash services

WELLINGTON, Oct. 1 (Xinhua) -- A New Zealand central bank consultation has found strong public support for maintaining access to cash services, with 90 percent of respondents agreeing that the country needs a standard for cash access.

The Reserve Bank of New Zealand (RBNZ) on Thursday published findings from its Keeping Cash Local consultation, which attracted 6,106 submissions, including 6,083 from individuals and 23 from organizations.

Around half of respondents were dissatisfied with current cash services in their district, while 53.87 percent were dissatisfied with services across New Zealand, according to the findings.

The consultation found that people valued cash for emergencies, budgeting, cultural and social events, local fundraising, local markets, privacy and personal choices, as well as for people who were digitally excluded.

"New Zealanders use and value cash alongside digital ways to pay," Karen Silk, RBNZ assistant governor for money, said in a statement.

The RBNZ said it is now engaging with a bank working group to improve cash services across New Zealand.