Studies say otherwise: https://link.springer.com/chapter/10.1007/978-3-642-40654-6_...

Cash is actually faster in many cases, the 'slowness' is the matter of perception and the need to make a cognitive operation of 1st grader counting, which is apparently a daunting prospect for many people.

And even if it were slower by 20-30 secs, the advantage it gives in control and privacy is such enormous that I don't understand people who use banks at all.

The last thing other people should know is how, where, and when a person spends their money. And due to the AML surveillance from the discussed article the banking privacy is practically dead.