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What Are The Advantages And Disadvantages Of Cashless Society?

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Anonymous answered
Disadvantages of cashless society
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
Anonymous Profile
Anonymous answered
Disadvantages will be
the government can't rule the country
without money they will be inable to solve the problem
reshsection will be there
advantages  I don't think the will have profit with a cashless society
 
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Anonymous answered

Freedom is at stake if we give up cash.

It's about freedom not to be under suspicion as electronic payments are all recorded on a database. I've gone back to using cash in the last year and I really feel the benefits. I'm spending less as I see and feel the money. When I paid mostly by card, there didn't seem to be a cut-off point for me. It didn't seem to matter if I went over an amount I was prepared to spend.

I'm sticking with cash and coins for other reasons too.

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