Topic Reading-Vol.2575-4/30/2019
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〒180-0006 東京都武蔵野市中町2-3-5 IIHA武蔵野1階
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Topic Reading-Vol.2575-4/30/2019
0422-27-5366
〒180-0006 東京都武蔵野市中町2-3-5 IIHA武蔵野1階
電話受付/月〜金 9:00-18:00
Topic Reading-Vol.2575-4/30/2019
Dear MEL Topic Readers,
Why the Swiss still love cash
Switzerland is a landlocked country in the center of Europe. Though all the surrounding countries belong to the EU and adopt Euro, Swiss distances itself from the union nor and currency zone. Their official currency is Swiss Franc. Seven denominations of coins and six series of banknotes are in circulation. Each coin has distinct weight; one franc, two francs, and five francs coin weighs 4.4, 8.8, and 13.2 grams respectively. The main colors of the banknotes are also distinct; yellow, red, green, blue, brown, and purple. Their one-thousand-franc bill is one of the most valuable banknotes in the world, which is worth around ten 100-dollar US bills. This super banknote is still commonly used for big-ticket items and paying bills. Indeed, cash is still the dominant payment method in Switzerland as 70% of the transactions are made by cash and 22% by debit cards, an instant withdrawal from the bank account.
It seems that cash is considered as part of their culture. They prefer to have control over their spending, keep privacy, and prevent getting into debt.
Enjoy reading the article and learn what cash means to the culture.
http://www.bbc.com/capital/story/20190416-why-the-swiss-still-love-cash
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