Ten reasons why banks should embrace cash

It is often said banks want to get rid of cashMoney in physical form such as banknotes and coins. More, because cash is viewed as a cost centre and competes with their profitable paymentA transfer of funds which discharges an obligation on the part of a payer vis-à-vis a payee. More products. The reality is certainly more complex. After all, banks are today the main channel for the distribution and collection of cash and most banks offer a broad range of cash services to both their private and business customers.

Here are ten reasons why banks should embrace and support cash:

1. Cash sets a floor to negative interest rates
2. Without cash, central banks could provide digital moneyFrom the Latin word moneta, nickname that was given by Romans to the goddess Juno because there was a minting workshop next to her temple. Money is any item that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular region, country or socio-economic context. Its onset dates back to the origins of humanity and its physical representation has taken on very varied forms until the appearance of metal coins. The banknote, a typical representati... More to the public and compete with retail banks
3. Regulators could force banks to provide cash services
4. Cash provides a differentiator against tech giants which are entering the digital payment market
5. Cash provides business continuity when payment systems break down
6. Consumers want it
7. Merchants need it
8. Cash is growing
9. Cash protects the privacy of individuals
10. Globally, cash is the most widely used payment instrumentDevice, tool, procedure or system used to make a transaction or settle a debt. More.

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