It’s being predicted that ATMs will soon become obsolete as Australia increasingly turns to cashless methods of payment.

With it being easier and cheaper than ever for businesses to process cashless payments, it seems it won’t be long before cash becomes a thing of the past.

The Reserve Bank of Australia has conducted a study into our cash usage, with the results prompting it to forecast the slow death of ATMs in their current form.

Insight Manager at Finder.com.au Graham Cooke tells Chris Smith he expects ATMs to effectively disappear from Australian streets within the next ten years.

“The amount of time across the day ATMs are being used for has gone down over the last few years from about 12 or 13 hours of continuous use, down to only three or four per ATM.”

Click PLAY below to hear the full interview