The main thing that worries me is the scenario of having my account frozen, in error say, and immediately being up shit creek.
Whereas in today’s cash-accepted world, I can survive for a few weeks just on what’s in my loose change jar.
Apparently you already can do that in some shops, according to the economist.
While I have a debit card, I prefer to pay in cash as much as possible. One reason is the one Mijim mentioned. There can be problems with credit cards. If my card gets stolen, then I have to call up the company, cancel it, and wait for them to send me a new one. I’d be pretty screwed if the stores around me didn’t accept cash. One might respond that I should just carry two credit cards, but I can easily imagine a major emergency that would make both useless at the same time. Cash is a better fallback because it never gets canceled.
I also like cash because it doesn’t leave any records. I’m not buying anything bad or anything illegal, but I figure that the less information governments and businesses have about me, the better.
Some of your arguments are valid (cards getting canceled), but you also mention what if your card gets stolen. Well what if? You call them and get a new card sent to your house within a few days. Don’t worry if the thief buys anything with it, you’re not responsible. Now what if your cash gets stolen? Good luck trying to recover that money!
Credit/debit cards are way more secure. I’d much rather be robbed and have a thief take my credit card than a wad of cash.