How do you put some cash in a birthday card? Or on a wedding or anniversary money tree gift? How would you save your change? Change is about the only way I have a savings account. Its ridiculous that people will take what they perceive as the easy way without realizing the dangers of it. The mysterious “they” wipes out your accounts, you prove you have an account when there are no records, since not only are the young going cashless, they are not keeping records, instead trusting the internet and those who have monitor their virtual funds.
Good point. You lose the ability to give a few hundred to someone anonymously - and face the likelihood of having the feds come back and demand the transfer listed on your tax return and taxed.