Panicked Australians have been rushing to withdraw cash – 'into the millions' in some cases – as markets tank

Australia had something of a bank run in March but you’d be forgiven for missing it.

On Thursday, the Reserve Bank of Australia (RBA) revealed there had been a rush of Australians desperate to withdraw their money from the bank as hundreds of billions of dollars were wiped from the Australian stock market, and trillions more from global markets.

“Over-the-counter withdrawals of cash from banks were elevated over the second half of March as some customers with large balances sought to hold precautionary funds,” the RBA surmised in a report.

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