Fletcher in the News

ATM Fees and Theft Contribute to High Cost of Cash: IBGC Study Featured

Cost of Cash, The Fletcher School, IGBC

Even in the age of Paypal, Square and Bitcoin, many of us pull out a green piece of paper to pay for our morning coffee without giving the transaction much thought.

Somebody, though, had to get that piece of paper to your neighborhood ATM, and you had to spend some gasoline (or shoe leather) to get it out. Cash also carries a risk of theft, and it allows some unscrupulous people to evade taxes.

Researchers from Tufts University added up all of those costs and came up with a big number. They say that based on "highly conservative assumptions," the cost of cash in the U.S. amounts to $200 billion a year.

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