5 advantages of using cash

Today, most purchases are made via card or mobile. But sometimes, it’s actually better to use cash. Here are a few reasons why.

Cash might seem old-fashioned, but it definitely has its advantages.

For instance, history has shown us that electronic payment systems can encounter problems, as seen during the war in Ukraine, the capital controls in Greece, or various cyberattacks. With cash, you have a reliable payment method that works regardless of external circumstances.

The Swedish Civil Contingencies Agency (MSB) also highlights these benefits of having cash:

• It’s the only payment method that everyone can access.
• The value of cash is guaranteed by the state.
• No intermediaries or third parties are required to make a payment with cash.

At Tavex, we’ve decided to take a closer look at some other reasons why cash still plays an important role in 2024!

Five advantages of still having cash in 2024

1. Cash almost always works 

Have you ever been in a store where the card machine suddenly stops working? Maybe there’s a power outage, or it’s just a technical glitch. It’s in these moments that cash proves its value. It always works, whether the internet is down or there’s a power outage. Having cash in your wallet can really save the day when technology fails.

2. You avoid technical hassles

We’ve all been there – you’re about to pay, but then your mobile or card acts up. Maybe the battery is dead or the app isn’t working. With cash, you skip all that. You just take out your bills, pay, and move on. Simple and smooth. For some, especially the elderly or those who aren’t comfortable with new technology, cash can be a simpler and safer option.

3. Better control over your money

When you pay with cash, you can immediately see how much money you have left in your wallet. It’s not as easy to overspend when you watch your bills dwindle. You think twice before opening your wallet, making it easier to keep track of your expenses.

4. Privacy with cash

Want to buy something without anyone being able to trace it? Cash gives you full anonymity. No one can see what you’ve bought or where you’ve been. With digital payments, there’s always a digital footprint, but with cash, your purchases are completely private. Many appreciate this when they want to protect their personal privacy.

5. No bank? No problem!

Don’t have a bank account or want to avoid the bank? Cash is the perfect alternative. You don’t have to worry about opening hours and fees, and you always have full control over your money.

Tavex rewards you for using cash!

At Tavex AB, we truly value our customers and are excited to introduce our new cash incentive program, specifically designed to reward you for choosing cash as your preferred payment method.

We understand that handling cash can be more convenient for some customers, and we want to make it even more beneficial for you. That’s why we’re offering an exclusive opportunity to earn extra savings on your purchases through our new bonus system, which we are offering indefinitely.

This is what we offer:

• 2% better price when selling precious metals to Tavex if you choose to receive the payment in Swedish cash!

Please note that the cash bonus program is limited, and cash payouts are subject to terms, Tavex’s internal rules, and applicable laws and regulations.

How much cash can you withdraw?

You might wonder how much cash you can actually withdraw at once. It depends on your bank and where you withdraw the money. It’s a good idea to check what applies to you, especially if you plan to withdraw a larger sum. Here you can read more.

How much cash can you keep at home?

There is no law that dictates how much cash you can keep at home. However, it’s wise not to keep too much cash at home for safety reasons. Having large amounts of cash at home can increase the risk of theft or burglary, so it’s important to think about how the money is stored and to protect it properly.

How much cash is good to have at home?

This depends entirely on your needs and what you feel comfortable with. It’s always good to have a little extra for emergencies, but safety is, of course, the most important consideration.

Having cash on hand provides a sense of security and flexibility that digital payment methods don’t always offer. So sometimes, the simple and reliable option can be the best choice.