If you’re of a certain age you may not know this common scenario. Young adults at a restaurants: one person pays for all – with their phone – the others transfer their portion of the bill to that person. Via their phone.

No cash – no in fact, no cards!

According to a new survey, millennials could be making cash a thing of the past.

Because this demographic experienced a recession in their lifetime, most use debit cards more than credit cards.

Either way, it’s cards, not cash. Also, young peeps don’t go to the bank very often – banking instead through their smartphones. Two thirds have a bank app on their phone compared to only one third of baby boomers.

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