Secondly, glitches, outages, and unintentional errors can all cause issues, leaving buyers unable to purchase items needed.
Similarly, when systems fail, merchants are unable to take payments. Finally, negative interest rates may have a more direct impact on consumers once all money is electronic.
Negative interest rates, according to the International Monetary Fund, lower bank profitability, and banks may be motivated to raise costs on customers to make up the difference.
Customers can easily withdraw their cash from the bank if they do not like the fees, therefore banks are constrained in their capacity to pass on those expenses.
Customers may have to accept any additional fees if they are unable to withdraw cash from the bank in the future.