Attention: Please take a moment to consider our terms and conditions before posting.
The Dangers of a Cashless Society.
Comments
-
Jeez £100 limit. You can have it off big time in a busy place using one of these. Just a quick tap on a few peoples pockets.
3 -
The first thing I think of as they continue to raise the limit is theft/fraud.
I thought £40 was about right,any more than that without any sort of security check is a bit off if you ask me.
4 -
I rarely pay by card now, prefer Apple Pay, more secure.
The banks (or the ones that are sensible) will put a limit on contactless payments
0 -
Cash = great for tax evasion or buying things off other people and carboot sales etc. Also good for when card machines are down.
Cashless = Great for almost everything else. Very few scenarios that aren't better cashless. Only danger is RFID scammers.
If you don't have a card safe wallet that blocks RFID signals you seriously should consider it. I use my Garmin for the majority of card payments, added bonus being it has a pin that I have to enter that lasts 15 minutes.6 -
The Anti money laundering and Know your customer checks needed to get hold of a card machine make it a right pain for someone to just tap your pocket and run. Also super easy for banks to recover the money.
What is more of a problem is someone nicking your card, and running up a load of transactions in store.6 -
£100 limit, in my book is crazy. Fraudsters are no doubt rejoicing1
-
This is how it works with Starling Bank for example, you can do £225 worth of contactless payments, and then it locks out till you do a chip and pin transaction.
suspect the limit will now drop
1 -
Don't mind this personally. Will mean that I probably won't need to take a wallet out 95% of the time. Just use phone/watch.5
-
Apple Pay and Google Pay don't (or shouldn't) have limits, as they are more secure payment methods then Chip and Pin for example
(you can tell I work in digital payments)1 - Sponsored links:
-
From what I've heard @ElfsborgAddick has been doing that for yearsWSS said:Don't mind this personally. Will mean that I probably won't need to take a wallet out 95% of the time. Just use phone/watch.
9 -
When I became involved with banking software (1990) ,all the major institutions gave cash a life expectancy of thirty years, we all thought that was optimistic but it will not be too far away for a large proportion of society, apart from people like myself who like a few coins in the pocket.0
-
Just caught up with this thread. I absolutely love my Monzo app. It's the first time I can say I've ever been happy with a bank account. It's so easy to keep track of everything (I say this as a person who hates talking/thinking about money and who literally gets a migraine if forced to discuss finances). The one problem I have with it is buying streams of Charlton matches; my purchases used to all be filed away quite nicely in the 'Entertainments' category, but that doesn't quite work for me anymore ;-)4
-
You're on a watch list now!Stig said:Just caught up with this thread. I absolutely love my Monzo app. It's the first time I can say I've ever been happy with a bank account. It's so easy to keep track of everything (I say this as a person who hates talking/thinking about money and who literally gets a migraine if forced to discuss finances). The one problem I have with it is buying streams of Charlton matches; my purchases used to all be filed away quite nicely in the 'Entertainments' category, but that doesn't quite work for me anymore ;-)1 -
Knew you were coming across far too reasonable for a spanner! Clearly that was all a front and you are in reality a dinosaur!Big_Bad_World said:Rarely use cashless (actually detest it). Cash is king for me. Always ask at shops if they're taking cash. Most independents I've dealt with still prefer cash so try and always use it where possible.2 -
Drug dealer alert!Big_Bad_World said:Rarely use cashless (actually detest it). Cash is king for me. Always ask at shops if they're taking cash. Most independents I've dealt with still prefer cash so try and always use it where possible.
5 -
Can't remember the last time I used cash. I would guess I have once or twice in the last 3 years but cant remember when. When I moved recently i found my "big" wallet with space for cash (I now only take out a card holder) turns out most of the cash was old £5 notes or £1 coins which I need to go change somewhere.
Life is so much easier and no need to have the bottom of your drawer filled with small change that you are never gonna use anymore. Even parking machines have JustPark or similar apps that you can pay through and dont need change for.
I welcome this move but agree that banks will likely ask you for your pin after a certain number of transactions. If they dont everyone will be forgetting their PIN. First time I went out after lockdown and had to enter my PIN I forgot it because it had been too long. of course it came to be about 10 mins later.2 -
You find Charlton matches entertaining?Stig said:Just caught up with this thread. I absolutely love my Monzo app. It's the first time I can say I've ever been happy with a bank account. It's so easy to keep track of everything (I say this as a person who hates talking/thinking about money and who literally gets a migraine if forced to discuss finances). The one problem I have with it is buying streams of Charlton matches; my purchases used to all be filed away quite nicely in the 'Entertainments' category, but that doesn't quite work for me anymore ;-)1 -
This is true and with my bank I've set up a 'save the pennies" function. So if I spend say £7.80 on my card they round it up to £8 and stick the 20p in my Xmas savings account.cantersaddick said:Can't remember the last time I used cash. I would guess I have once or twice in the last 3 years but cant remember when. When I moved recently i found my "big" wallet with space for cash (I now only take out a card holder) turns out most of the cash was old £5 notes or £1 coins which I need to go change somewhere.
Life is so much easier and no need to have the bottom of your drawer filled with small change that you are never gonna use anymore. Even parking machines have JustPark or similar apps that you can pay through and dont need change for.
I welcome this move but agree that banks will likely ask you for your pin after a certain number of transactions. If they dont everyone will be forgetting their PIN. First time I went out after lockdown and had to enter my PIN I forgot it because it had been too long. of course it came to be about 10 mins later.
My first year of doing it ,but already saved up a few quid. As you say, it's only money that would go in the penny pot.2 -
All of my change goes in to a few jars/pots and accumulates throughout the year. End up with a pretty nice sum at the end that is then split between the kids.
I just find using cash easier to keep track of and prefer to have a stash of cash to hand.6 - Sponsored links:
-
I suppose you've got a lot more cash now that you're not able to throw spare coins at linesmen?Big_Bad_World said:All of my change goes in to a few jars/pots and accumulates throughout the year. End up with a pretty nice sum at the end that is then split between the kids.
I just find using cash easier to keep track of and prefer to have a stash of cash to hand.
14 -
*throwDaveMehmet said:
I suppose you've got a lot more cash now that you're not able to through spare coins at linesmen?Big_Bad_World said:All of my change goes in to a few jars/pots and accumulates throughout the year. End up with a pretty nice sum at the end that is then split between the kids.
I just find using cash easier to keep track of and prefer to have a stash of cash to hand. 10 -
Very similar to me and I’m under the age of 30. Whenever going to football or on a session I always get the cash out in advance. Can never keep a track of how much I’ve spent when paying by contactless.Big_Bad_World said:All of my change goes in to a few jars/pots and accumulates throughout the year. End up with a pretty nice sum at the end that is then split between the kids.
I just find using cash easier to keep track of and prefer to have a stash of cash to hand.3 -
I also find that trades people also prefer cash, so that's nice. Cheaper work undertaken when required.
What's not to like?2 -
Not had a single note in my wallet all year. Never thought I'd say it, but I haven't missed it once.
Will probably change once lockdown is over, but zapping a card is so much easier for both the seller and buyer.
@Big_Bad_World is just pushing the 'cash is king' line to ensure Securicor vans are still a necessity around London Town.6 -
I remember a few years ago, a Saturday afternoon and possibly the hottest day of the year. I went to tobacco dock for a pals birthday. Absolutely roasting it was.
It was a cashless place and all of a sudden the card machines went down for a good 30 mins to an hour from what I can remember. Very little shade. Queues were getting longer and longer at the bars. Luckily I was at the front with a wallet full of cash and obviously my cards which actually doesn't make a difference if I was at the front or back because no one could get a drink under the blistering heat because 'sOrRy, wE aRe oNlY aBlE tO tAkE 1 fOrM oF pAyMeNt'
I'm not against taken card payments or paying with card. I have 2 machines just in case one fails on me which it has done regularly and my trusty little PayPal device has never let me down but the option of both forms of payment in places like the above would be nice.0 -
Do the same unfortunately dont put so much change in these days for obvious reasons.Big_Bad_World said:All of my change goes in to a few jars/pots and accumulates throughout the year. End up with a pretty nice sum at the end that is then split between the kids.
I just find using cash easier to keep track of and prefer to have a stash of cash to hand.
I have a mate who once run a pub in Mortimer nr Reading, he loved contactless as he said people didn't keep a check on their spending and bought more drinks for themselves and everyone else.
At least if you went out with £40 and wont home with nothing you knew you had 10 pints and a good night out.2 -
Made me laugh during the summer months that I could never pay by cash for the meal/drinks etc. However, everyone was delighted to have tips paid in cash to them. No problem taking the dirty notes when money is going in their pocket.clive said:The limit on a single payment using contactless card technology will rise to £100 later this year, the Treasury has confirmed.
The pandemic has accelerated a move away from cash, with shoppers often being encouraged to use contactless in many stores for public health reasons.
It has been less than a year since the limit was raised from £30 to £45.
Regulators say businesses could still decide themselves whether to accept the higher limit.
0 -
I withdrew cash from a cashpoint a couple of weeks ago - that's the first time I had done that in a year and it was only because I had to change a PIN on a card. That cash is still in my wallet, unused.
Apart from tipping the Ocado driver I don't think I've used cash once in the past year. Always contactless, CHIP and PIN or Apple Pay.
But! A large chunk of society still rely on or only have access to cash as the primary/only purchasing method. It therefore needs to be protected and we are a million miles away from a cashless society.3 -
Can’t remember the last time I handled a note. Even my 87 year old Dad has gone contactless.0
