Bank@Post - Cash/Cheque Deposits - When?


Does Xinja have any intention to roll out Bank@Post support? I can’t see it listed anywhere on your roadmap.

It will allow 2 things to occur:

  1. Your customers can actually deposit cash or cheques directly into their Xinja accounts.
  2. Your customers wont need to maintain/manage a seperate bank account with a ‘legacy’ bank that has Bank@Post support or branch access.

Yes cash usage is declining - but you are kidding yourself if you think it doesn’t get used anymore in quite large quantities.


It’s been brought up a number of times on the forums (by myself a few). There are no plans for it, but the more people that bring it up the more chance of having it added to the roadmap. I think it’s a no brainer. Keeps people from staying with their legacy bank and sets Xinja apart from the other Neo’s.


Thanks @brett - spot on. It has been added to the list but just battling to get other stuff out at the moment.


I’m with those in favour of this type feature.

Unless Xinja develops the capability to process/accept cash transactions (e.g. deposits) then it will not be able to have customers bank solely with them - it will require Xinjas to have another bank account to allow those transactions to occur, which is not ideal.

I look forward to the day I can bring ALL my business to Xinja. :crossed_fingers:t2: :grin:


I’m another yes vote on this one. In all honesty, I would prioritise this on the roadmap.


Whilst it would be a nice feature, I actually agree with the Xinja staff in that it is expensive for them to implement and that cost would have to be passed on to us, the clients.

To be able to deposit, I think they would need EFTPOS, which is a feature owned/developed by the big banks. Those big banks would charge neo banks a fortune to utilise that system, partly to make money and partly because they don’t want to help their competitors.

Now if there is a way to be able to deposit cash without using any sort of legacy/big bank system, then I’m on board. I could be wrong about needing EFTPOS to do bank@post and deposit cash/cheque’s. I don’t know if a system could be worked out directly between AusPost and Xinja, that can bypass other banks, that way they’d be dealing with an institution with no reason to hinder them.

One possible workaround - pay for a Prepaid Visa card with cash, then “pay” your Xinja account using the prepaid card via Instant Top-Up. Haven’t tried it myself, but the most promising one I’ve found so far is the 7 Eleven Just Go card with $0 initial/load fees.

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Bank@post is Australia Post’s product. Whether it uses the eftpos system is irrelevant…any partnership and integration will be between Xinja and Australia Post.

You do realise you’re using the eftpos system whenever you transact in a store…

If you look at the list of banks already supporting bank@post, they are mostly very small mutual banks that generally have no bricks and mortar branches and operate on low budgets. The integration isn’t complex and this is an easy win.


Alternatively, I just do mixed transaction types at checkouts at the supermarkets :sweat_smile:
With the self serves you just throw money into it until you either run out of cash, at which point you just hit “pay the rest another way”, or you’ve paid the bill :smile:
Mind, I do my best to avoid cash, so it works very well for me for the once or twice a year I have any…

Good alternative for small amounts, but not that $5k you’re walking around with after selling your car :wink:

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I think you will find the real answer on this is pretty simple. Banker POST is very expensive which Xinja would have to pay ( or charge customers ). They recently pushed through massive increase and ANZ bailed out. They stung the smaller banks big time. It is a dying channel and not really neo banks target market. I’d personally rather see basic like pBay and NPP and am not keen as shareholder to be subsiding old physical channels. Get person who buys your car to use NPP !

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Just pointing out that both NPP and bPay are owned by the big 4 banks so no escaping their clutches. @bankpost is government-owned of course. Pick your evil. We are only one black swan away (and well overdue) from everyone learning to appreciate the value of cash.

I don’t buy it, just another 'can’t under the veil of cost. If other small banks can do it then as an investor I want this bank to as well. I’m not into excuses for people to maintain a legacy bank.

On ‘target market’ I think you’ll find that the customer base is not just the millennials you were all expecting. I’ve seen enough evidence on these forums to suggest it is much broader than that, and that’s a good thing.


Totally agree with Brett here, as he explained as example with selling his car, goes to illustrate that we aren’t fully in the digital world, money (physical ) still plays big role for many consumers.

The plus side aussies in general are fast adapters to technology, remember when Chip / tap n pay came out and internet banking and scare mongering that went on. Mobile app banking is gonna take a good 10years for consumer market to get on in big way.

So in the mean time Neo Banks like Xinja, 86400 are going to need to build interim bridges for depositing money like BankPost & very minimal NPP.

I do hope this feature comes because it will extend the consumer clientele beyond 18-25yrs market and reach more broader consumer base.


I agree this is a banking need for the short/medium term, however I don’t think it should be a high priority.

In the short/medium term people are likely to keep multiple accounts until Xinja is built out and proven itself.

Just my opinion, but I think this should sit a long way down the priority order. Also feel it is a way lower priority than the lending products that are critical to Xinja making money and reaching break even.

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Up now offer bank@post. Hope you’re taking notice Xinja.


Up have the financial backing of Bendigo banking group to negotiate a good deal with AusPost to use their facilities. They already have an existing deal for their regular Bendigo customers, so to tack on a minor extra amount of customers with Up bank is really so minimal that they maybe wouldn’t have had to even pay more money.

From a personal pov, whilst I would like to deposit cash, I can make do without. I don’t deal with significant cash deposits, if I did, I’d use my other bank account to do that. If anything, assuming Xinja could get the Bank @ Post + NPP sorted in the short term, I’d be curious as to how they managed to get it done, with less staff and less revenue than the big 5. I’m not in a hurry for a full feature set.

I’m actually hoping to see Xinja, Volt & the true neobanks succeed. I consider Up digital, but not Neo, because they aren’t new. They’re built on existing platforms, utilizing existing payment rails and continuing the domination of the status quo, which is bad for customers in the long run.


@David_Langham Up’s backing by Bendigo and whether anyone considers them a neo bank is probably irrelevant. They are a competitor plain and simple and them having Bank@Post is yet another competitive advantage they have over Xinja and the other Neo’s.

There are a lot of customers in favour of it which probably means a lot of potential customers that won’t join because it’s missing.

Anyway, was just pointing out the fact that a competitor now offers it and I hope Xinja are paying attention.

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