You are right. Now the banking system has become much easier than before. With mobile banking, bank apps, cards, ATMs, and instant money transfer facilities, money in banks is not as inaccessible as before in many places. So I think if someone keeps their emergency fund in the bank and can use it in times of real need, then it cannot be directly called wrong. But there is another thing to think about here, the question of whether money can be kept in the bank is not the real issue. As far as I have read, the main function of emergency funds is to help in times when everything may not work normally. You are right that technology has improved. But app shutdowns, network problems, bank transaction limits, card problems, ATM running out of money, these are common issues with advanced technology.Therefore,it is not completely safe to rely completely on the bank for emergency funds. Therefore, it is also important to consider how to be more secure.
Nobody is saying that it's wrong or not good to save some percentage of your emergency and reserve funds in your bank, what is not good is relying only on banks to preserve your emergency and reserve funds, because even though technology has improved greatly in recent times, bad network can ruined everything, and once network is bad, you will be shut out until the network has improved, which might take hours, days or weeks in most cases scenario.
So it's very important to keep some percentage of your emergency funds in cash for easy access just in case of any emergency situation that may threatens your Bitcoin investment.
Do you think everyone that can hold cash without touching it? Some people prefer to keep their money in a bank account rather than holding the cash. Banks having issues once in a while does not mean they will always have problems. Some people spend money the more they see it, so they prefer keeping it in a bank accounts to avoid unnecessary spending. The most important thing is having an emergency fund regardless of how you keep it, whether in cash or in your bank account, just make sure you do not invest everything into bitcoin.
It’s not every hospital that can accept cash for the hospital bills, it depends on the standard of the hospital. We have many hospitals that may not accept transfers or even cash, and the only way to settle your bills is to use your ATM card for payment. So in a situation where you have cash in your hand, you may still need to deposit the money back into your account. My own advice is to always make sure you have the emergency fund set aside to avoid running up and down later.
