PTE Essay – Advantages & Disadvantages Of Cashless Society

Write about the following topic:

Advantages & Disadvantages of Cashless Society.

You should spend about 20 minutes on this task. Write at least 250 words.

Advantages & Disadvantages of Cashless Society

Advantages & Disadvantages Of Cashless Society

Model Answer:

A cashless society is the one in which people use more Credit and Debit Cards instead of carrying Cash in their wallets. I believe that a community which is cashless has lots of benefits to offer. I will discuss both benefits and drawbacks of the cashless society in the upcoming paragraphs.

To begin with the demerits, first of all, if the society goes cashless altogether, it can become more spend-thrift. If people carry cards all the time and every shop and vendor has a swiping machine available, people can become impulse buyers and end up purchasing things which they do not even require. Next, as the cards are tiny, they can easily drop from the pockets, and people can lose a lot of money if they do not notice it promptly.

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On the contrary, there are plenty of benefits of going cashless. The most significant advantage is that people need not carry bulky wallets all the time. These days, there are Smartphone cases available, which have a card pocket made in them. People can keep all their cards in them and save their pocket space. Furthermore, carrying cards is safer because even if people lose them, they can promptly intimate their Bank to cancel their card on the spot. But, if they have cash in their wallet, and they lose it, they can never get the money back.

Moreover, paying by card saves money in long run. For example, if we purchase an item for $24.48 and we pay in cash, it gets rounded off, and we are supposed to pay $24.50. But if we tap the card instead, we spend the exact amount. It might not appear to be a significant saving, but when we always use the card to pay for everything, we can save a lot of money.

In conclusion, becoming cashless brings in just a few disadvantages, but if people stay more conscious, they can avail a plethora of its advantages. Every country should go cashless and lead a secure life.


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  • Cashless society has become integral part of the raising debate in the present worlds. While proponents of the arguments are in favor. However the opponent are completely against to the relevance of the “cashless society”. In my opinion, cashless society have more positive impact than negative in the globe.

    To commence with, there are number of argument In favor of my view points. The most prominent one is that there many benefits of credits cards it is easy to use online shopping through credit cards. We check online transaction while using credit cards. Online payment is feasible with cards. Payment become easier with credit cards. According to the researcher conducted by western Sydney university, credit cards is safe and easy to carry than cash on wallet. Booking of hotels, tickets easy to pay with credits card.

    On the other hands, critics may point out that one of the significant disadvantages of the these days credits card fraud common. There are high interest rate while using credit cards. For instance, survey conducted in the United States reveals that if you are unable to pay with credit cards it takes extra amount. Which using credit cards sometimes hidden cost are these .

    To conclude, even when there are a lot of demerits associated with cashless society. The advantage outweigh the disadvantages People using credits card has become more crucial part of life. Therefore, efficient use of credit card should be promoted. However, it’s excessive and misuse should be condemned.

  • It would appear that there is an all encompassing utopia regarding the move to a cashless society.
    It would appear that we have very short memories, regarding exactly who controls the cash transactions in this country ie. the banks. They have proven not to be acting in the publics favour.

    Secondly we are relying on the transactions to be be faultless, yet how many times have our telecoms, such as Telstra and Vodaphone gone down. It this occurs, no transactions can take place.

    Thirdly, as we are well aware, blackouts are becoming more and more frequent. When this occurs, no transactions can take place.

    Fourthly, small business have concerns regarding the surcharges on credit card transactions. This will increase and can they continue to prosper? The big corporations can, as they just pass the costs onto the customers.

    Fifthly. We are relying on computer systems that are the prime source on these transactions taking place. Computer systems go down, and they go down frequently and at the most drastic times. Can our banks keep up, are their systems capable of providing uninterrupted transactions, are they capable of providing total security. In my opinion, no.
    These comments are just a few pitfalls and are not conclusive. Further, the advocates for a cashless society, need to read the comments from Sweden, who have said that caution is required, for their society is not utopian.

    I think that much more research needs to be done, before we put all of our eggs into one basket.

  • Cashless society can be described as a society where people prefer debit cards or credit cards over the cash for their sale-purchase. Intriguingly, some strata of society favour cashless society while others oppose this notion. In the forthcoming paragraphs, I will explain both the advantages and disadvantages of the cashless society along with a considerable conclusion.

    To commence with, there are myriad advantages that can be thought of to justify that cashless society is comparatively a better idea but the most preponderant one is that it is safer to carry cards and roam freely without the fear of carrying a bulk of cash. Apart from this, cards are handier and easy to manage as compared to its counterparts and provide lot more features. For instance, one need not keep the record of each and every spending as they can get the statement of this through net-banking anytime and of any period.

    On the contrary, there are some disadvantages as well to carry cards because they are too tiny to be dropped off easily and if get caught in the wrong hands can be misused and one can lose a hefty amount. Besides, it lures the person to buy the things even if they don’t need that. For instance, sale always attracts people to buy more than necessary and due to facilities of credit
    cards that one can pay later, people end up buying lot more stuff than essential.

    After analyzing all the aforementioned aspects, I would like to recapitulate that although, cashless society have some demerits but its merits outweigh its negative side and can be addressed strategically.

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