Sky Accountants Sunbury would like to remind gaming venue operators to start preparing for changes in cash access in their venues. Starting the 19th of September, changes to gambling regulations will come into effect and will impact EFTPOS transactions and the operation of cheque cashing services in hospitality venues.
A gaming venue’s EFTPOS facilities are required to prohibit a person from obtaining over $500 on any one credit or debit card within 24 hours. Persons in gaming venues may not obtain cash from an EFTPOS facility as well, unless operated by an employee of the venue operator. The operation and promotion of cheque cashing services is also not allowed in a gaming venue, including in any land or car park occupied by the venue operator.
There will be a $200 transaction limit on EFTPOS transactions and cash advances from a credit amount will remain prohibited. The 24-hour period will be calculated from the time of the first withdrawal. Venue operators are responsible in making sure they understand these obligations and make adjustments to stay compliant.
Click here to speak to Sky Accountants Sunbury who specialise in the hospitality industry. We are big believers in the use of professional tools to manage your business. The right tools can streamline your processes so that the business is best placed to trade profitably.
We are technology and hospitality focused, Xero Accounting gold partners, and allied with cloud technology partners in Xero add-ons such as Receipt Bank, POS systems, Payroll and HR systems for Clubs and Pubs.