Cash is a payment method made up of coins and notes. It is a universal payment method which acceptance is mandatory.
Cash is also a means of immediate liquidity, once the payment for the good or service is provided, it is immediately received.
Is there a risk with cash?
Cash as a payment method is also subject to fraudulent activity. In fact, Central Banks worldwide encourage the use of other payment instruments such as credit and debit cards, which are increasingly practical, convenient and safe.
In addition to the above, it is important to be aware of the characteristics of existing coins and notes to be able to identify its authenticity. To learn more about this, click here.
It is not advisable to transport big quantities of coins or notes. Don’t forget that a card has your name, but cash does not, so it will be difficult to prove that it is yours if misplaced or stolen.
Also ensure that your cash is in good shape! If a note is damaged, there’s a risk of not being accepted.
