My Richmond Fed: Paying With Cash
From credit and debit cards to payment apps, there are so many ways to pay nowadays. So much so that you might overlook the ongoing prevalence that cash still has in our economy. Did you know that every time you reach for your wallet to pay with cash, you’re interacting with work we do here at the Richmond Fed?
While many think that the Federal Reserve prints money, it’s actually the job of the U.S. Treasury. Our job is to supply financial institutions with the currency they need for their customers and to ensure it's fit for circulation and isn’t worn, torn or counterfeit.
We also play a role in other areas of the nation’s payments system, including providing a secure and efficient method to transfer electronic funds — like when you pay your bills online. If you’d like to learn more, check out our “Payments Services” page or schedule a visit to the interactive Fed Experience.
Paying with Cash is part of our My Richmond Fed video series, which demonstrate how the Fed’s work affects everyday people, every day.
