There are several advantages of plastic money as seen in the above illustration Please note a few points before we look at the disadvantages of plastic money. 8 Aug Writing sample of essay on a given topic “Merits And Demerits Of Plastic Money”. If I hand over my debit card it’s the same whether the purchase is $5 or $, whereas handing over huge amounts of cash would make me think twice before .
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Being the most popular educational website in India, we believe in providing quality content to our readers. That sounds good right? So its time to become smart and avoid unnecessary wasteful expenditure.
Will you avail this facility if you are using cash? You will definitely wish if you had some cash in hand. The convenience, mney quality of cards when compared to bank notes, difficulty to duplicate easily like notes etc are a few to name.
Plastic money or polymer money, made out of plastic, is a new and easier way of paying for goods and services. Remember that you have to pay your credit card in full. Credit cards, variants of plastic money, dsmerits used as substitutes for currency. Answer quality is ensured by our experts. I want a free account.
If you find something interesting on a website and would want to have it, you can always purchase it anytime using plastic money. American Express created a system of making an impression of the card presented at the register for payment. The work will be completed to all satisfaction. Most people particularly those who started their careers in the last years have been more used to cards than cash. I find that people who are finding cards as a convenient medium try to use it everywhere — left, right and center.
Plastic money was introduced in the s and is now an essential form of ready money which reduces the risk of handlings a huge amount of cash. In this case, you will have to purchase something unnecessary to make it Rs. If it was actual cash in its place, then it is easy for mney thief. I think talking about cash or cards may sound like a trivial subject, but remember that these precautions discussed above will help you during emergencies and help avoid or eliminate many problems that people face-not because of plastic money but due to lack of discipline and poor organization skills.
They want you to loosen your purse and spend more so that they can laugh all the way to their bank. When paying cash, this additional charge will not be taken.
Plastic money refers to credit cards, we use them whenever we want and pay later with interest, of course. Emam Hi, I am a professional writer and i am running a team of native article writers.
Further, technological advancements lead to a new trend where most banks gave you one ATM card or debit card which can be used for withdrawing money as well as for making purchases or payments — offline as well as online. PowerfulResearch I have been a writer for the past three years. This is a measure to ensure that I give you first hand quality on time” I have been a freelance writer for the past 4 years, having substantial experience I’m able More.
Even if he forgets to carry cash he can use his debit card to withdraw funds whether required. Plastic money is the special term used for the hard cards in banks instead of normal paper money.
Conclusion of merits and demerits of plastic money
The disadvantage being there are still many among us who do not know how to use a plastic card wisely. If you have any questions or concerns regarding any content published here, feel free to contact us using the Contact link below.
It includes Debit cards, ATMs, smart cards, etc. Also, it is safe when you have a card with you as even if it is lost, you can always call the bank and ask them to block it. However, with his debit card he could withdraw cash whenever required which made his life easier. For instance, in some countries, the service charge is levied on card transactions when you purchase gold from jewelry.
What are the merits and demerits of plastic money?
I have been a writer for the past three years. Once a card is lost you have to immediately report it and get the card blocked to avoid misuse. One of the main advantages of plastic money is that the same card can be used locally as well as internationally.
Having a track of your daily or monthly transactions is always good. We can see many online meritx coming up these days.
Conclusion of merits and demerits of plastic money –
Advantages of Plastic Money Cash vs Plastic money; which one will you go for? I can handle your task. Answers come with explanations, so that you can learn. Dev, who was on a vacation returned home after 10 days.
Study of Merits and Demerit of Plastic Money Based on Experiences of People
Even then taking precautions is absolutely necessary. For others you can say sorry and avoid or try to finish it over a simple coffee. Get paid for your work.