Tuesday, January 22, 2019

Be aware of the cost of handling cash

Many people are reluctant to move to cashless payments. They prefer to use cash. They find paying by cash to be convenient and free.

They do not realize the cost of handling cash:

a) Time spent to take cash from ATM machine
b) Cost to banks of providing the ATM service, which is now offered free to customers.
c) Cost of merchant to handle cash and give change
d) Cost to merchant to deposit the cash into the bank

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