The small South Waikato town of Tirau has lost its only ATM cash machine.

The last remaining cash machine was pulled from the local petrol station a few days ago, meaning residents wanting to get cash out would have to drive 10 minutes to the nearest town.

David Tripe is the Head of Massey University's School of Finance and told Larry Williams it is a reflection of the reduction of cash."

"ATM usage has been falling for the last 15 years, so they are not being replaced as there is no the demand for it."

LISTEN ABOVE AS DAVID TRIPE SPEAKS TO LARRY WILLIAMS