The Reichsmark (RM) is the basic currency in Schwerdt. It is available in 1, 5, 10, 20, 25, 50, and 100 Reichsmark notes and 1 and 5 Reichsmark coins. One hundred pfennigs equal 1 Reichsmark. There are 1, 5, 10, 25, and 50 pfennig coins.
Cash, R-karte, or Credit?
While having some currency is beneficial, most people in Schwerdt transact business using the Reichskennkarte, called the R-karte. The debit feature of the R-karte accesses funds in the individual's deposit account. Visitors to Schwerdt can use the debit feature of the R-karte by opening a deposit account at any Schwerdtan-chartered bank or if their financial institution is a member of FUNDS (Financial Union of National Deposit Banks Service).
All merchants and services in Schwerdt, except for temporary merchants, such as street vendors, accept the R-karte for debit purchases. The R-karte can be used for nearly everything, from buying a newspaper to taking public transit to obtaining goods and services.
The Schwerdtan economic system discourages the use of consumer credit except for major purchases. As a result, most merchants and services do not accept credit cards. Travelers may visit a chartered financial institution to make use of credit card services.
Traveler's cheques in Reichsmark denominations may be used in Schwerdt the same as cash. The proliferation of the R-karte, however, makes the traveler's cheque less convenient and less secure.
Currency Exchanges
Major points of entry (at airports, seaports, train stations, and major highway frontier crossings) have licensed currency exchanges. Banks and other chartered financial institutions also offer currency exchange services. The exchange rate at the time of the transaction applies and most currency exchanges assess a transaction fee. Reichsbank does not charge any fees for currency exchanges that result from transfers into or out of Reichsbank personal deposit accounts for foreign nationals.
