Is cash on
its way out?
It is easier to balance
my checkbook and see
where my household
spending is going with
the use of my card.
THE EXPLOSION OF electronic money—including credit
and bank cards, online transactions and paying by mobile
technology—has some observers predicting that physical
cash will soon be a thing of the past. It’s a good thing,
they add, since a cashless society will make life more
convenient, eliminate the costly manufacture and
distribution of physical money, and help reduce
criminal activity and tax evasion.
Others argue that cash’s demise
is not imminent as long as the fees
associated with electronic money are
high. Americans still prefer paying
with cash, especially for small
purchases—and better security
measures are being introduced
for paper money.
What do you think?
From a business angle,
it would save trips to
the bank and increase
security by not having
cash on-site. [The trans-
action fees] are a small price for
security and convenience.
Colorado Springs, CO
My husband’s check
goes straight to the
bank. We are less
likely to spend money
... because it never
goes in our pockets.
San Antonio, TX
I think cash will
always be used since
there is the potential
for your identity to be
An element of
Find out more about this topic on the Web:
our society would
chised and could
not manage trans-
actions without cash.
(Search: “Why We’re Still A Long Way Off From A Cashless Society”)
(Search: “What’s Good for Banks May Not Be Best for You”)
www.fee.org (Search: “Toward a cashless society”)
www.cnn.com (Search: “The death of cash”)
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