IELTS Writing Task 2/ Essay Topics with sample answer.

IELTS Essay # 1205 - Plastic money replacements are extremely popular

IELTS Writing Task 2/ IELTS Essay:

You should spend about 40 minutes on this task.

Write about the following topic:

Nowadays plastic money replacements such as credit and debit cards are extremely popular, even more than banknotes and coins.

Discuss the advantages and disadvantages of this.

Give reasons for your answer and include any relevant examples from your own knowledge or experience.

Write at least 250 words.

Model Answer 1:
Electronic transactions are gradually replacing the traditional banking system, and the use of banknotes is being supplanted by credit and debit cards. The transformation toward a cashless society might be slow, but steady and widespread. This paradigm shift has both positive and negative aspects, and this essay deals with both of them.

One major advantage of the use of plastic money is that they are more convenient and are processed on the go. People neither have to carry a bulk amount of cash nor write a check - which usually takes a couple of days to clear the payment. Moreover, the electronic payment system is global in nature and hassle-free. Consequently, the eCommerce industry has flourished and many individuals have their own online businesses without any brick and mortar shops. For instance, nowadays it has become pretty easy to shop with a VISA or a Master card, virtually from anywhere in the world. Personally, I hate standing in a long queue to pay my utility bills, and my cards let me do it from home - a time saver indeed.

Plastic card payment does not come without negative aspects. Although we can use these cards due to technological advancement, the risks of using plastic money, however, pertain to this technology. The primary threat to such payment mode is cybersecurity and hacking. For example, once a credit card is cloned or its sensitive data is hacked, the owner would suffer a great financial loss. A technology giant like Facebook has failed to protect its user data, for example, and the misuse of user data is a global concern. The same goes for plastic cards and online payment systems that have the same vulnerability.

To conclude, despite some adverse effects, the use of plastic money for making and receiving payments is the need of the hour. It provides a plethora of advantages but we have to be careful of its use.

[Written by - Fahad Arif]


Model Answer 2:
In recent years, there has been a shift in the way people use money, with plastic money replacements such as credit and debit cards becoming increasingly popular. While these new forms of payment offer certain benefits, they also present several drawbacks. In this essay, we will explore the advantages and disadvantages of using plastic money replacements.

One advantage of using plastic money replacements like debit or credit card is convenience. Unlike traditional banknotes and coins, credit and debit cards are small and easy to carry, allowing users to make purchases quickly and easily without having to worry about carrying large amounts of cash. Additionally, many credit and debit cards now offer contactless payment options, making transactions even faster and more efficient. Another advantage of using plastic money replacements is security. Traditional banknotes and coins are vulnerable to theft and loss, but credit and debit cards are often protected by advanced security features such as PIN codes and encryption, making them much safer and more secure than traditional cash.

However, there are also several disadvantages to using plastic money replacements. One significant drawback is the risk of overspending. With traditional cash, users are limited to the amount of money they have on hand, but with credit and debit cards, users can spend beyond their means and accumulate debt. Another disadvantage of using plastic money replacements is the potential for fraud and identity theft. While credit and debit cards offer security features, they are still vulnerable to hacking and other cyberattacks, putting users' personal and financial information at risk.

In conclusion, plastic money replacements offer certain advantages such as convenience and security but also present several drawbacks including the risk of overspending and the potential for fraud and identity theft. To address these issues, it is important for users to be responsible with their spending and to take appropriate measures to protect their personal and financial information.


Advantages of using plastic money (i.e. credit and debit cards):

1. The convenience of doing transactions from home.
2. Has global acceptance.
3. These cards easily fit into our wallets.
4. Reduces the risk of carrying a huge sum of money.
5. Facilitates online payments.
6. Enables small business owners to run business 24/7.
7. Offers credit facility and instalment facility.
8. The risk of theft and loss is minimised.
9. Supports the growth of eCommerce.
10. Requires less time to process the transaction.

Disadvantages of using plastic money (i.e. credit and debit cards):

1. Not accepted by small vendors.
2. Sometimes the payment is rejected due to technical problems.
3. Such cards may impose high interests on the owner.
4. Plastic cards often are responsible for the impulsive shopping habits of people.
5. Vulnerable to hacking, data theft, misuse and fraud.
6. High-value transactions are often not possible.
7. Sometimes impose additional service charges.

1 1 1 1 1 1 1 1 1 1 Rating 4.56 (43 Votes)

Abdullah Aijaz
The revolutionary era of technology with the introduction of plastic money such as credit and debit cards has transformed traditional ways of payments. This technological advancement has resolved certain type of hassles which we encountered due to banknotes. But the advantages do not come without some demerits.

People across the globe used to struggle for carrying loads of banknotes for the fear of theft and robbery. Moreover, the bulky notes take more time in processing the payment, as well as liable for flaws in counting. The worst hassle is currency exchange for travellers. The plastic money has utterly supplanted the currency in the whole world for better. It has eased the transfer of funds, security of the money and the records for each payment. For instance, all transactions type and amount is recorded in the account statement which enables the cardholder for its annual accountability or Audits.

On the flip side, due to frequent usage of card payments, sometimes people become unconscious for the security of cards. And cybercrimes and hacking are increasing with leaps and bounds. Sometimes security is also breached through resilient hackers such as Facebook users data was unveiled. Likewise, several card duplicates and transactions fraudulent are reported. The financial burden for added interests with the credit card transactions is also a downside of plastic money.

In conclusion, the advantages of plastic money make it highly popular. But, the customers have to be conscious while processing payments to only authenticated sellers in order to combat scams, fraudulent transactions and hacking.

Nowadays plastic money replacements such as credit and debit cards are extremely popular, even more than banknotes and coins.

Discuss the advantages and disadvantages of this.

We are living in the technological-revolution era, which is offering many alternatives to make our life easier and more convenient, such as credit and debit cards instead of cash. A large proportion of people around us prefer using them and they have benefits as well as negative effects, and the below paragraphs will show some examples with arguments for the aforesaid.

Many of the electronic card users prefer relying on them due to their security and the easy accessibility for their money. Moreover, the ability to access money without actually carrying them while travelling is a great advantage. On top of that, international credit or debit cards allow travellers to spend money without even converting them to the local currency and that's a fascinating facility. Finally, transferring money to any place around the world is not an issue anymore since most banks are connected via a highly secure network. This has made the mobility of money possible in many countries.

However, we must not forget the drawbacks of going cashless. If we do not pay attention while using such electronic cards, the results will be devastating including identity theft, transaction fraud and so on. Many bank cases are hanging in the court because of the improper usage of the credit card. Besides, such cards allure you to buy many things your budget can't afford. This has a serious consequence as a consumer.

As a conclusion, no doubt going cashless has transformed the way we do transactions but we have to be cautious in utilizing this blessing otherwise the will be the nightmare that we will not be able to wake up form.

Plastic money has supplanted the traditional methods of the banking system, banknotes and shopping and services. It makes our life more convenient as we can avail cash in less time, do not need to carry money so there is no chance of snatching. The paradigm shift, I believe, has both positive and negative consequences. In this essay, I will deal with both aspects.
Introduction sample:

Credit and debit cards as an instance of artificial money are getting handy and so much functional versus the banknotes and coins these days. Using modern technologies for transferring money could be so much helpful for saving energy while nothing can take the place of cash in our everyday life.

Please evaluate my essay and give me some advice.

Essay topic: Nowadays plastic money replacements such as credit and debit cards are extremely popular, even more than banknotes and coins.

Discuss the advantages and disadvantages of this.

Using plastic money, including debit and credit cards instead of cash, offers significant benefits to us such as convenience and safety. However, their limited acceptance and misuse are two major drawbacks we cannot ignore.

To begin with, nowadays, debit and credit cards are widely used by many to make life easier. Personally, I am one of them who use such cards every day to pay the fees, complete shopping and pay utility bills. As a user of plastic money, I do not worry about carrying a large amount of cash and that makes my life a lot easier. A great number of merchants and online shops - both local and international, accept these cards and users even enjoy special discounts and rewards for making such transactions. Due to the inception of plastic money, the eCommerce industry flourished which is slowly replacing the traditional shopping methods.

However, cash is still a prefered mode of transactions by many small vendors and transactions involving big amount are still not possible using cards as they have a limit. Besides, transactions made by cards, especially credit cards, involve additional charges, which is inconvenient to many users. On top of that, such cards are prone to misuse if fallen into the wrong hands and cause financial disaster to the owner. Since we often use debit or credit cards to make online payments, cyber-criminals and hackers may gain our card details and misuse them to gain financially.

To conclude, plastic money is one of the most effective methods of transactions to make our life easier but we have to be careful so that it does not fall into the wrong hands.

Naresh Kumar
Traditionally, most of the transactions used to be done using paper money and metal coins. Currency - notes and coins - was considered the only medium of exchange but this has changed in the last decade with the introduction of plastic money replacements, such as credit, debit and prepaid cards. These cards have become so popular that more than half of the transactions are done using these cards instead of currency notes and coins. In the following paragraphs, I will discuss both the advantages and disadvantages of these new forms of payment.

One of the major advantages of these cards is that they are very convenient to carry. For example, a small debit card can hold millions of dollars. The other advantage of this form of money is that payments of any random amount can be done without the need for exact change. Moreover, these methods are safe and secure as most transactions are encrypted using the best hardware and software technology. Finally, there is no risk of carrying cash, which means no physical transportation of currency, therefore no risk of theft and robbery.

These plastic money replacements also have certain disadvantages. Firstly, relying entirely on credit and debit cards can be inconvenient at times as still these cards are not widely accepted as payment methods. For example, many small vendors still do not accept credit cards and if we do not have cash with us, we may embarrass ourselves while doing transactions with such small vendors. Secondly, such payment methods are no longer safe as cybercriminals may steal these cards' data and steal money from their accounts. Lastly, transactions through these cards cost a fee, which is charged by the card companies, such as VISA and Mastercard. Hence, these methods are not always cost-effective.

In conclusion, plastic money has many advantages such as ease of carrying and making payments without worrying about the change. It also has some disadvantages such as limited acceptance and transaction costs.