I often find myself contributing to groups which operate solely on cash donations. I know firsthand the importance of physical currency in our day-to-day lives, through donating small cash amounts to those in need. However, there seems to be a declining trend in the use of cash, which could lead to irreversible consequences.

According to the Federal Reserve, as of 2020, cash represented 26% of all payments, demonstrating that a significant portion of the population still rely heavily on physical currency for their transactions. What's more, a 2018 study revealed that 8.4 million U.S households were unbanked, meaning they do not have access to basic banking services, underlining the importance of cash for the most vulnerable in our society (Federal Reserve, 2020; FDIC, 2018).

The disappearance of cash would mean a loss of control for many of us over our finances, causing serious implications for those on fixed incomes or living paycheck to paycheck. By losing this essential option, we jeopardize the balance and fairness in our economy.

We must encourage continued use and acceptance of cash to protect the rights of those most vulnerable in our society - those without bank accounts or secure internet access to make electronic payments, the elderly who are more comfortable using familiar methods, and those who prefer cash for privacy reasons. We urge monetary and regulatory bodies to affirm the importance of cash and ensure it remains a viable choice for all. Please, sign this petition to sustain the use and circulation of physical cash.