A post submitted by CGI member Morgan.

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They would boycott everyone who refuses cash and move to another bank if that bank has or is moving to digital currency. They'd start using cash only, but I'm under the impression that's a pipe dream.

Article:

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Say goodbye to paper money — banks are quietly working to get rid of cash

Big banks and Big Tech want to eliminate cash, but that would be terrible for our economy — even card users need cash sometimes.

In a 2016 Super Bowl ad, PayPal launched an attack on "old money," contrasting it to a world of digital "new money." Players such as Visa and PayPal present digital money as an update to cash — the former even entered into a deal with the NFL to promote a cashless Super Bowl in 2020. Like the term "horseless carriage," the term "cashless payment" implies that some previous hindrance has been shaken off. And why hold on to an inferior system?

But cash is not an inferior system, and the idea that cash is the "horse-drawn cart of payments" is both misleading and dangerous. In fact, this rush to make the world cashless could result in millions of people getting entirely cut out of the global economy. Even people who prefer card or app payments should reject a totally cashless world. It's a world where even the tiniest of payments will have to travel via powerful financial institutions, which leaves us exposed to their surveillance and control — and also their incompetence. A payments system without cash is one dependent on banks that are prone to financial crises, spying, systems failure, and cyberattacks.

Banks in many countries are hoping that people slowly forget that they have a right to get their money out of the banking system, closing down ATMs and retail bank branches and effectively blocking the exits to the system. While older generations still make a clear distinction between "money outside the bank" (cash) and "money inside the bank" (digital bank chips), many younger people forget that there is an outside, and future generations may never know any better. As this progresses, we're getting locked into financial institutions that can watch us, influence us, force us into 'right-think' by not allowing payments that they deem against the system, and constrain us via their chokehold on the payments infrastructure.

More stores are refusing to take cash — a move which benefits big financial institutions and large tech companies, and hurts communities and local small businesses.

https://www.businessinsider.com/banks-cashless-world-disaster-economy-business-fintech-cash-crypto-2022-6