OTP has collected interesting research on cash usage. Not only do they all seem to be a bad idea for free cash withdrawal, which has further boosted cash usage in Hungary. Vote as well which argument is the strongest against free cash withdrawal!
Whoever uses cash tends to spend more
People are more generous about giving tips, and when shopping they tend to spend all their money if they pay cash instead of a credit card, according to a recent study published on Bankrate. According to Joylina Serina, a professor at the University of Maryland, one of the most important conclusions of the research is: “Whoever carries more money may feel they have more money, so they can easily spend more.”
Cash, the “hotbed” of disease
A European banknote has about the same amount of bacteria as a toilet handle (that is, 11,000 pathogens, and even according to other studies, it is 26,000). Although 84% of Hungarians are aware that “cash is dirty”, only a fraction of them wash their hands after making a cash payment, which could reduce the risk of infectious bacteria and viruses entering the body.
Does the parking machine accept the twenty thousand
33 percent of the cash in circulation consists of tens of thousands and 22 percent of tens of thousands, so more than half of all cash is denominated in large denominations. Often small shops or ticket, refreshment and parking machines do not accept large denominations. However, in these cases, there is an increasing number of alternative payment methods, such as mobile phone or credit card payment.
It is best to keep money in a bank
57 percent of Americans no longer carry “traditional” means of payment at all, writes Time Magazine in a recent online article. let banknotes Their fear is not unfounded. a lost wallet will be ten just returned unharmed owner, together with the entire amount – according to a British survey Safest money to keep the bank, so the slightest chance of becoming a victim of thieves man..
It’s worth advancing with age
Electronic payment methods are less costly than cash payment – at the level of the whole society. For example, making a 5 forint coin costs 20 forints, not including shipping, storage, and storage costs. Plus, card and online payments are faster and more convenient. It is no coincidence that nearly 85 per cent of Hungarian households now have a credit card and more than one third of Hungarian Internet users have an e-shop. Currently, one quarter of merchants in Hungary are able to pay by credit card, and the number of online outlets has doubled in three years.