This already exists. Withdraw from account to physical cash. Proceed to stash cash in “secret” location.
Most businesses don’t even accept cash anymore. Can’t get “hacked” although it’s prone to many other issues — space, humidity, physical theft.
Most businesses don’t even accept cash anymore. Can’t get “hacked” although it’s prone to many other issues — space, humidity, physical theft.
For example, let's say you have $100k in savings. I think you would be absolutely bonkers to store that in some secret part of your (flammable! break-in-able!) house.
I guess you could put it in a safety deposit box, and if you needed to spend it in a non-cash way, you could walk it directly to the teller and deposit it and make it available? The equivalent of a cold wallet, I suppose.
Really? I've been using cash almost exclusively for the past several months and haven't had any real problems. Sure, the overpriced hipster vegan Thai place in the McMall district may not take cash, but the family-owned ramen restaurant a couple miles down the road is more than happy to do so. Personally I find the "won't take cash" attribute to be a strong indicator that the business isn't worth supporting.