[Dave Birch] In a recent edition of European Card Review, Malte Krueger of Paysys noted that a cashless society is some way away (in fact he calls it a “fairy tale”), not because cash is more efficient but rather because the law ensures unfair competition. This is not because legal tender laws force people to use cash, as is sometimes claimed, because they do not. But there are some laws that do discriminate in favour of it. In Germany, for example, banks are simply not allowed to charge private customers for withdrawing cash. Similar laws would undoubtedly be enacted in other countries should banks try to recover any costs on this side.
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