Australia Yearbook - 2001

Chapter 26—Financial system 905
Additionally, the Board has declared the Reserve
Bank Information and Transfer System (RITS) and
the Austraclear System (FINTRACS) to be
approved RTGS systems.
About 80% of the value exchanged in the
payments system is cleared via the HCVS.
Table 26.36 shows the number of points of access
to the payments system. Branches are access
points staffed by employees of financial
institutions. Agencies are staffed by other than
employees of financial institutions such as
postmasters or storekeepers, and exclude school
agencies and giroPost agencies. giroPost provides
a limited range of services at Australia Post offices
on behalf of participating financial institutions. At
30 June 1999, eight banks, two building societies
and 30 credit unions participated in the giroPost
scheme. Electronic points of access include ATM
and electronic funds transfer at point of sale
(EFTPOS) terminals.
26.36 POINTS OF ACCESS TO THE AUSTRALIAN
PAYMENTS SYSTEM
June
1998
June
1999
June
2000
no. no. no.
Branches
Banks 5 615 5 358 (a)5 003
Building societies
and credit unions 1 317 1 358 (a)1 208
Agencies
Banks 6 337 6 528 (a)5 043
Building societies
and credit unions 1 652 1 417 (a)887
giroPost 2 720 2 724 n.y.a.
ATM 8 814 9 387 10 818
EFTPOS terminals 218 330 265 391 320 372
(a) Numbers are preliminary and subject to revision.
Source: Australian Payments Clearing Association, 2000
Annual Report; APRA.
Smaller (retail) non-cash payments are effected
by various means, as shown in graph 26.37.
26.37 MAIN TYPES OF NON-CASH PAYMENTS, Proportions of
Total Number of Payments—May 2000
Direct entry ATM
EFTPOS credit cards
High Value
Clearing System
Cheques
0 25 50 75 100
% of total number of payments
Source: Australian Payments Clearing Association, May 2000.