Sweden fact of the day, and the high costs of cash

Stockholm’s homeless population recently began accepting card payments.

The article is more generally about the high costs of cash payments and also storing cash:

 In the US, a study by Tufts University concluded that the cost of using cash amounts to around $200 billion per year – about $637 per person. This is primarily the costs associated with collecting, sorting and transporting all that money, but also includes trivial expenses like ATM fees. Incidentally, the study also found that the average American wastes five and a half hours per year withdrawing cash from ATMs; just one of the many inconvenient aspects of hard currency.


Comments for this post are closed