It's all to do with control The RBA has control over money as it is in the banks but not when it is circulating as cash. Earlier this year they forced banks to change term deposits so you can only get them out on the due date or after 31 days notice if you are in financial hardship. I tried to close one off to pay some unexpected repair bills after the company I was working for closed but as the credit cards were not maxed out and we hadn't missed any credit card payments we were deemed to not be in financial hardship - the fact we then had to use credit cards to buy groceries and then pay interest on that as we couldn't access our money didn't count.
so much for teaching people to take financial responsibility for yourself 
Edit history
Edited 14 Dec 2016 14:18, 5 years ago, edited by HardWorkingMan
It's all to do with control The RBA has control over money as it is in the banks but not when it is circulating as cash. Earlier this year they forced banks to change term deposits so you can only get them out on the due date or after 31 days notice if you are in financial hardship. I tried to close one off to pay some unexpected repair bills after the company I was working for closed but as the credit cards were not maxed out and we hadn't missed any credit card payments we were deemed to not be in financial hardship - the fact we then had to use credit cards to buy groceries and then pay interest on that as we couldn't access our money didn't count.
so much for teaching people to take financial responsibility foe yourself