Large cash payments may be needed in places and during times where non-cash are difficult or impossible. I have family who live in countries where having bank transfers would be cumbersome and are riddled with corruption, so I bring them cash. I once did get 9,500$ in cash (below the 10K limit) and they were paying for repairs for their home and the workers could only accept cash. Having a digital platform would have made all this impossible.
Large cash payments may be needed in places and during times where non-cash are difficult or impossible. I have family who live in countries where having bank transfers would be cumbersome and are riddled with corruption, so I bring them cash. I once did get 9,500$ in cash (below the 10K limit) and they were paying for repairs for their home and the workers could only accept cash. Having a digital platform would have made all this impossible.