The Queen Vic Market announced this week that it would no longer be accepting cash payments at the market from 1st July 2017. Ironically, Citi-bank made a similar announcement applying to all its bank branches in Australia from November 2017 – no more cash transactions. It is a sign of the times.
QVM rent payments have long been a convenient way of traders getting rid of cash although traders waiting in line while rolls of notes and bags of coin were counted at the cashier’s office in Deli Lane may not have found it so convenient.
Traders can still pay in cash but now they will need to do it at a bank branch and hand over the QVM bank account details for a transfer of funds.
The market has issued a Trader Bulletin giving future options for payment as Direct Debit, Direct Deposit or cheque. Details of the QVM bank account are found on trader’s invoices although it is not yet clear how traders will receive their invoice. Many traders don’t see their invoice until they go to the office to make a payment. It may also be possible to make payments at Post Offices and we will check that option.
No doubt there will be teething difficulties for some traders as they adjust to the new arrangement. Traders can contact the Accounts Team by emailing email@example.com or by telephoning 0438 964 456.
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