It is fully negotiable. Possession of currency is sufficient to establish a right of use, and it can be simply handed to someone else in order to make a payment. Usage is anonymous and not directly traceable. It is convenient and efficient for making small payments. It is valid for payment in all places and circumstances, and its status can only be questioned where forgery is suspected.
Payments made by means of currency are definite.
They are final and irrevocable at the point when they are made, and are not dependant on the operation of any clearing or settlement arrangements. These attributes collectively imply that currency is generally accepted. However, it is not in all cases the preferred method of payment, particularly for higher value transactions, since use of currency involves handling, storage and security costs which may not arise to the same extent with other methods. Payment by means of certain electronic methods score well on some aspects and poorly on others. However, the relative importance of these various attributes is very dependant on the type of payment being made.