Banks are preparing for a surge in demand for cash in south-east Queensland and northern NSW over the weekend and into next week, especially if Cyclone Alfred knocks out electronic payment systems.

As Alfred hovered ominously off the coast this week, some banks scrambled to stock up automatic teller machines and branches with extra cash. All four major banks have deployed emergency mobile “branches in a box” to Brisbane so they can be set up in car parks after the storm.