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You claim this, but cash has its own costs. Such as running the risk of getting robbed, wrong change (and the retailer losing out), a safe, the costs and time i
by Broken_Hippo 8y ago
You claim this, but cash has its own costs. Such as running the risk of getting robbed, wrong change (and the retailer losing out), a safe, the costs and time included in physically getting the cash to the bank - either by employees driving it or paying a service to do it. Having enough change on hand can be an issue.
Now, I don't know if all of this equals out to the same as the credit card fees, but it isn't like cash is cost-free.
- rland 8y agoCash also has very diffuse benefits. It is anonymous, private, untraceable, and not able to be stolen or compromised without physical access.
- ummonk 8y agoAnd the police will confiscate it for their own use if they find you with a lot of it.
- Broken_Hippo 8y agoSo are prepaid credit cards - the type you do not register. They can theoretically be hacked, but so can your bank account. And it depends on what you are buying. Most stores have cameras. There are a slew of transactions that require ID as well. You generally need to show some sort of ID to get your cash as well - few employers will pay in cash. Major cash purchases are sometimes either refused or require ID and forms to finish. And you are simply out of luck if you happen to lose it somehow. It can get damaged to the point of being worthless as well.