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What’s Costing Americans Money

June 16, 2016 by rapid! PayCard

Is cash still king? It may advantage a home buyer in a bidding war, but the question is: Is cash cost-effective? And is the study released by Tuft’s University in 2013, a trend? According to their The Cost of Cash in the United States, “using cash as opposed to a debit or credit card is costing consumers and businesses both time and money. Specifically, Tufts estimates that using cash increased businesses costs by $55 billion in 2013, with retail theft being the largest single factor. It also lent to $101 billion in missed tax revenue because of off-the-books transactions. Ultimately, using cash over credit cost U.S. households $43 billion, with… Read More

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