A method for performing a digital monetary transaction between a payer and payee comprising the steps of receiving a digital-cash value requested to be withdrawn from an account of a payer; generating a digital-cash code that is associated with the requested digital-cash value and communicating the digital-cash code to the payer; receiving the digital-cash value and the digital-cash code from a payee requesting to deposit the amount specified by the digital-cash value; comparing the received digital-cash value and the digital-cash code to confirm an association; and transferring funds of the amount specified by the digital-cash value to the payee. A system including a central digital-cash system and a network interface preferably can preferably operate the method.