Welcome to Sweden where banks have no cash and deposits are shunned

‘Sweden is winning the war on cash and not everyone’s happy. According to this dinosaur media report more than half of Sweden’s biggest banks have no cash in their vaults, nor are cash deposits accepted. Cash Machines (ATM’s) are disappearing at an alarming rate especially in rural areas. Churches are projecting bank account numbers across large screens as worshipers tithe through an app. This is Sweden, the global model for a cashless society.

Few places are tilting toward a cashless future as quickly as Sweden, which has become hooked on the convenience of paying by app and plastic.

This tech-forward country, home to the music streaming service Spotify and the maker of the Candy Crush mobile games, has been lured by the innovations that make digital payments easier. It is also a practical matter, as many of the country’s banks no longer accept or dispense cash.’

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