Banks should stay optional!

If banks are mandatory and you are obligated to sign the contract that the bank gives you to sign, the signature is no longer a sign of consent, because you had no choice. And banks, knowing that, will be able to to put increasingly worse terms into the contract. Today, you can just store money in cash in a safe somewhere in the house. To avoid bad contractual terms with the bank. Keeping the banks somewhat tame. But what if there will be no cash?

No wonder that banks love the idea of cashless so much.

Banking Fees

Since bank is a business and businesses need to make money, a lot of them include small payments for various basic banking operations, like: each time you use a credit card, you are charged a small amount by the bank. With cash you can avoid all this nonesense.

But in a cashless with you not being able to say "no" to a bank. They can make those fees unreasonably high, without you being able to anything to stop them.

Penalties for Saving Money

Countries measure their "success" by calculating how much money is moved around. It's called GDP. To increase this number, countries need to encourage people to spend more money. If you are saving money ( which is a responsible and smart thing to do that actually has to be encouraged ), you use less of it, meaning you are making the country "look bad" on the international scale.

With cash you can save money without government intervention. While saving money in the bank might be potentially terrible. Since the government might make the banks take money from your account every once in a while, to encourage you to spend it faster. It is usually called " negative interest rates".