Started by EvadingGrid, Apr 27, 2017, 04:34:27 AM
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"This is a service that consumers can reasonably expect of credit institutions. There must also be symmetry between withdrawal and deposit facilities. In the Riksbank's view, there is otherwise a risk that the possibilities for individuals to make deposits will decrease even further in the future. For most consumers, it would also be difficult to understand why they can withdraw cash from an account but not make deposits."
Quote"No cash accepted" signs are becoming an increasingly common sight in shops and eateries across Sweden as payments go digital and mobile......Sweden is widely regarded as the most cashless society on the planet. Most of the country's bank branches have stopped handling cash; many shops, museums and restaurants now only accept plastic or mobile payments......Last year, the amount of cash in circulation in Sweden dropped to the lowest level since 1990 and is more than 40 per cent below its 2007 peak. The declines in 2016 and 2017 were the biggest on record......An annual survey by Insight Intelligence released last month found that only 25 per cent of Swedes paid in cash at least once a week in 2017, down from 63 per cent just four years ago. A full 36 per cent never use cash, or just pay with it once or twice a year. (source)
Quote Not only is cash used frequently for small value and in-person purchases, it is also used by a wide array of consumers. The data on cash use by household income provides two main insights. First, consumers make—on average—14 cash transactions per month, regardless of household income. It is also noteworthy that cash was the most, or second most, used payment instrument regardless of household income, indicating that its value to consumers as a payment instrument was not limited to lower income households that may be less likely to have access to an account at a financial institution.
QuoteRecent figures show that free ATM machines have been closed at an unprecedented rate in the UK - around 250 a month - since the beginning of 2018.
Quote from: 2Revolutions on Feb 19, 2019, 07:45:49 AMAlso from the article:This also ensures that bank runs are limited.Last Edit by Palmerston