Remember when cash was king? Now it ain’t jack:
More than three-quarters of respondents to a recent U.S. Bank survey said they never carry more than $50 in currency with them. Nearly one-quarter said they keep $10 or less.
And, when given a choice between paying someone with cash or a peer-to-peer (P2P) payment app, 47% said they would choose the digital option, as opposed to the 45% who said they’d rather use cash.
You’d think this might be dependent on how much cash they have on hand. Last actual art I bought at the downtown Festival of the Arts was $125; I seldom if ever have $125 in my pocket. Often the determining factor is the nearest ATM from Humongous Bank and Trust Company (Member FDIC), which has an option labeled “Fast Cash $60.”