Cash Can Be Expensive
The use of cash is expensive for us, the banks, and businesses in lots of ways. Having cash accessible (dispensing it), guarding it, transporting it, counting it, and processing it costs money.
Cash Is a Time-Waster
Banks tell us that we spend on average 30 minutes per month at ATM machines alone withdrawing cash. When we expand the math, that translates to over $30 billion dollars a year in wasted time across the U.S.
Cash Is Dirty
According to a Scientific American report, 94% of all the cash we handle is pretty filthy. It has bacteria and germs that are transferred around by touch and it carries communicable diseases with ease.
ATM Machines Can Be Even Worse
That ATM machine we use to get our cash probably isn’t even as clean as a public restroom. It’s literally handled by thousands of people each year and is cleaned rarely if at all, especially if it’s outside in a public area.
Cash Can Be Dangerous
Cash is easily misplaced or lost and if it is, you're out of luck. It can be easily stolen and in fact, makes us more likely a target when it becomes known we may be carrying cash.
Cash Is Inconvenient
When we buy a car, we’re not likely to carry a bag of money around with us, right? Even buying clothing or furnishings can require a large wad of cash so really it’s not the most practical way to shop and spend.