1. NO CASH/CURRENCY
2. No PRIVACY
3. If you lose it takes long and hard to new one. (only with card not with chip)
4. IDENTIFICATION THEFT
5. INTREST RIBA
6. Unpractical can break easily
7. Someone steals your card buy stuff. (only if they know the PIN).
8. Cash is not under your control.
9. Limits of goods and services you can buy.
10. Surcharge on goods and services
11. Impractical if you move to overseas
12. Join new banks
13. Cards get expired and then you have to buy new one which takes long time.
14. MIGHT FORGET PIN.
15. Without cash there would be no instant payments for goods and services
16. And other disadvantage would be Privacy issues and losing the liberty of cash.
17. Disadvantages of a cashless society consist of privacy issues and computer hackers.
18. Of a smart card or chip that would record and control all assault on privacy.
19. Risk of computer hack your cards or may be chip.
20. They could create an electronic underground society as well as contribute to the issue of identity theft.
21. BANKS WILL BE VERY POWERFULL
22. Very easy to lose the card
23. There will be high interest rates