Cash Out Day is a puerile stunt and here’s why
Following someone can be fun, and feel fulfilling, like you belong to something. The thing is though, feeling fulfilled is different to actually making a difference.
While Cash Out Day may make you feel like you are doing something on the day, unless you actively engage with using cash all year round the day is nothing more than a childish feel good stunt.
If you want cash to have a bright future, use it. That’s all that is needed. Use cash.
Stunts like Cash Out Day are good for social media and people chasing clicks, but not much else. I’ve not seen any evidence of Cash Out Day making any real difference.
Go to a shop, pay with cash. That’s the best action you can take. Withdrawing from an ATM on a specific day is 100% a stunt.
Imagine if everyone who withdraws money from the ATM on Cash Out Day spends a bit of cash every couple of days for a year in local shops. Now that would drive a big difference and have a big impact, far more so than withdrawing cash from bank ATMs.
I hope we more beyond the superficiality of a designated day and embrace the practical power of consistent action.
The future of cash doesn’t hinge on a single, fleeting event designed for social media buzz. Instead, it lies in the hands of individuals making conscious choices to use physical currency in their everyday transactions, supporting local economies and demonstrating a genuine, ongoing commitment. This sustained effort, multiplied across communities, holds the true potential for impact, far outweighing the temporary satisfaction of a symbolic gesture.
If cash matters to you, as a retailer you can do your bit by supporting cash at every opportunity. This can include educating people about the use of cash all year round and not playing follow the leader with a Cash Out Day pitch.
Ultimately, the true power to sustain cash lies in everyday use. By actively encouraging and facilitating cash transactions year-round, we can play a vital role in fostering this habit, making a tangible difference that extends far beyond the ephemeral buzz of a single day.