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by seanmccann 3078 days ago
This is anecdotal but my family operated a store in a rural vacation area and over half of our customers used cash. In the 2000s, we'd have to drive the cash 30+ minutes to the bank, twice weekly to mitigate the risk of a robbery. We sold the business, but more electronic transfers hopefully reduces the required driving miles, and overall cost to transact in cash.
1 comments

I can't find the study right now, but recently saw data suggesting that the cost of money handling is still several times cheaper on a per dollar basis than electronic transactions.

If a business accepts any cash at all, the marginal cost of another cash transaction is really low. By your own antidote, your store still saw the value of accepting cash transactions, yeah?