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The Dangers of a Cashless Society.
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Rob7Lee said:Algarveaddick said:Dugdaleclass said:Interesting to hear from people who work in the financial services sector and their take. Since the pandemic I have to admit leaving cash in a drawer and relying on cards to pay for anything and everything. In fact the only time I have had to carry cash at all was on a visit to Japan (one of the most advanced technological countries but still a society which prefers the colour of your money when making transactions).
High Street banks are pushing for their customers to take responsibility for their own banking through the use of apps. All well and good for those who prefer the tech...but perhaps not for older customers who often have the more substantial accounts. I still insist on monthly paper statements so I have a record in writing of my transactions.
The 'cash or card' title of this thread is already moving towards being obsolete given that increasing numbers of people are relying on their phones to pay for everything. Great if this is how you like to spend. So easy and accessible. Not so great if you lose your phone or it's nicked.
for the man (or woman) on the street, with a current account waving their phone at a terminal - what exactly is the cost? Nothing additional over cash and still 99% of people pay nothing for their day to day banking.100% this - Apple/Google Pay is immeasurably convenient, and online and mobile banking allowing you to do pretty much all that could be done in a branch but without the faff and you are in control of when and where you do your banking transactions. All of that free of charge for the vast majority - if the banks still had to maintain a vast physical estate of branches that are barely used then free banking would disappear.Access to basic financial services for everyone has always been a challenge but basic bank accounts have to a huge degree removed that barrier. Also the access and use of techology may be an issue for some but the Post Office network pretty much fills that gap.2 -
Rob7Lee said:Algarveaddick said:Dugdaleclass said:Interesting to hear from people who work in the financial services sector and their take. Since the pandemic I have to admit leaving cash in a drawer and relying on cards to pay for anything and everything. In fact the only time I have had to carry cash at all was on a visit to Japan (one of the most advanced technological countries but still a society which prefers the colour of your money when making transactions).
High Street banks are pushing for their customers to take responsibility for their own banking through the use of apps. All well and good for those who prefer the tech...but perhaps not for older customers who often have the more substantial accounts. I still insist on monthly paper statements so I have a record in writing of my transactions.
The 'cash or card' title of this thread is already moving towards being obsolete given that increasing numbers of people are relying on their phones to pay for everything. Great if this is how you like to spend. So easy and accessible. Not so great if you lose your phone or it's nicked.
for the man (or woman) on the street, with a current account waving their phone at a terminal - what exactly is the cost? Nothing additional over cash and still 99% of people pay nothing for their day to day banking.
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I was listening to a podcast this morning, "This is not a Drill", it just auto played off the back off of The News Agents. On there a listener asked, "with the decline of cash why are countries printing such huge amounts of actual currency?" Apparently the USA have two plants that print money, they are flat out printing, so much so that the US is building a third print works to keep up. I doubt its just to replace worn out notes, it must add to the amount in circulation.
I very, very rarely use actual cash these days, I find it inconvenient. Everything card or phone nowadays, I can't remember the last time I paid for anything with money. The carwash guy up at Coolings said that they prefer cash but I had to disappoint him. To me there is no real difference, cards have become my cash.0 -
charltonkeston said:I was listening to a podcast this morning, "This is not a Drill", it just auto played off the back off of The News Agents. On there a listener asked, "with the decline of cash why are countries printing such huge amounts of actual currency?" Apparently the USA have two plants that print money, they are flat out printing, so much so that the US is building a third print works to keep up. I doubt its just to replace worn out notes, it must add to the amount in circulation.
I very, very rarely use actual cash these days, I find it inconvenient. Everything card or phone nowadays, I can't remember the last time I paid for anything with money. The carwash guy up at Coolings said that they prefer cash but I had to disappoint him. To me there is no real difference, cards have become my cash.1 -
Algarveaddick said:Rob7Lee said:Algarveaddick said:Dugdaleclass said:Interesting to hear from people who work in the financial services sector and their take. Since the pandemic I have to admit leaving cash in a drawer and relying on cards to pay for anything and everything. In fact the only time I have had to carry cash at all was on a visit to Japan (one of the most advanced technological countries but still a society which prefers the colour of your money when making transactions).
High Street banks are pushing for their customers to take responsibility for their own banking through the use of apps. All well and good for those who prefer the tech...but perhaps not for older customers who often have the more substantial accounts. I still insist on monthly paper statements so I have a record in writing of my transactions.
The 'cash or card' title of this thread is already moving towards being obsolete given that increasing numbers of people are relying on their phones to pay for everything. Great if this is how you like to spend. So easy and accessible. Not so great if you lose your phone or it's nicked.
for the man (or woman) on the street, with a current account waving their phone at a terminal - what exactly is the cost? Nothing additional over cash and still 99% of people pay nothing for their day to day banking.
For the end user, paying by cash or paying by card/phone etc is no different - it’s free to them.3 -
Rob7Lee said:Algarveaddick said:Rob7Lee said:Algarveaddick said:Dugdaleclass said:Interesting to hear from people who work in the financial services sector and their take. Since the pandemic I have to admit leaving cash in a drawer and relying on cards to pay for anything and everything. In fact the only time I have had to carry cash at all was on a visit to Japan (one of the most advanced technological countries but still a society which prefers the colour of your money when making transactions).
High Street banks are pushing for their customers to take responsibility for their own banking through the use of apps. All well and good for those who prefer the tech...but perhaps not for older customers who often have the more substantial accounts. I still insist on monthly paper statements so I have a record in writing of my transactions.
The 'cash or card' title of this thread is already moving towards being obsolete given that increasing numbers of people are relying on their phones to pay for everything. Great if this is how you like to spend. So easy and accessible. Not so great if you lose your phone or it's nicked.
for the man (or woman) on the street, with a current account waving their phone at a terminal - what exactly is the cost? Nothing additional over cash and still 99% of people pay nothing for their day to day banking.
For the end user, paying by cash or paying by card/phone etc is no different - it’s free to them.I haven’t used cash in a pub (the example given above) for a very long time. In truth I’d come unstuck if the policy was cash only.1 -
Rob7Lee said:Algarveaddick said:Rob7Lee said:Algarveaddick said:Dugdaleclass said:Interesting to hear from people who work in the financial services sector and their take. Since the pandemic I have to admit leaving cash in a drawer and relying on cards to pay for anything and everything. In fact the only time I have had to carry cash at all was on a visit to Japan (one of the most advanced technological countries but still a society which prefers the colour of your money when making transactions).
High Street banks are pushing for their customers to take responsibility for their own banking through the use of apps. All well and good for those who prefer the tech...but perhaps not for older customers who often have the more substantial accounts. I still insist on monthly paper statements so I have a record in writing of my transactions.
The 'cash or card' title of this thread is already moving towards being obsolete given that increasing numbers of people are relying on their phones to pay for everything. Great if this is how you like to spend. So easy and accessible. Not so great if you lose your phone or it's nicked.
for the man (or woman) on the street, with a current account waving their phone at a terminal - what exactly is the cost? Nothing additional over cash and still 99% of people pay nothing for their day to day banking.
For the end user, paying by cash or paying by card/phone etc is no different - it’s free to them.6 -
SomervilleAddick said:Rob7Lee said:Algarveaddick said:Rob7Lee said:Algarveaddick said:Dugdaleclass said:Interesting to hear from people who work in the financial services sector and their take. Since the pandemic I have to admit leaving cash in a drawer and relying on cards to pay for anything and everything. In fact the only time I have had to carry cash at all was on a visit to Japan (one of the most advanced technological countries but still a society which prefers the colour of your money when making transactions).
High Street banks are pushing for their customers to take responsibility for their own banking through the use of apps. All well and good for those who prefer the tech...but perhaps not for older customers who often have the more substantial accounts. I still insist on monthly paper statements so I have a record in writing of my transactions.
The 'cash or card' title of this thread is already moving towards being obsolete given that increasing numbers of people are relying on their phones to pay for everything. Great if this is how you like to spend. So easy and accessible. Not so great if you lose your phone or it's nicked.
for the man (or woman) on the street, with a current account waving their phone at a terminal - what exactly is the cost? Nothing additional over cash and still 99% of people pay nothing for their day to day banking.
For the end user, paying by cash or paying by card/phone etc is no different - it’s free to them.
According to the Issue Department accounts for 2023 it cost the BoE £64mn to produce, store, transport and pay out banknotes. But because each banknote is secured against holdings of commercial or Govt. bonds, etc, the Bank gets to take in the dividends on that paper. In 2023, that brought in a tasty little bonus paid over to the Govt. of £1,681mn. By way of contrast, the Banking Dept. only made £39mn net. A cynic might conclude that it is in the BoE's best interest (pun intended) to have as much cash in circulation as possible.1 -
SomervilleAddick said:Rob7Lee said:Algarveaddick said:Rob7Lee said:Algarveaddick said:Dugdaleclass said:Interesting to hear from people who work in the financial services sector and their take. Since the pandemic I have to admit leaving cash in a drawer and relying on cards to pay for anything and everything. In fact the only time I have had to carry cash at all was on a visit to Japan (one of the most advanced technological countries but still a society which prefers the colour of your money when making transactions).
High Street banks are pushing for their customers to take responsibility for their own banking through the use of apps. All well and good for those who prefer the tech...but perhaps not for older customers who often have the more substantial accounts. I still insist on monthly paper statements so I have a record in writing of my transactions.
The 'cash or card' title of this thread is already moving towards being obsolete given that increasing numbers of people are relying on their phones to pay for everything. Great if this is how you like to spend. So easy and accessible. Not so great if you lose your phone or it's nicked.
for the man (or woman) on the street, with a current account waving their phone at a terminal - what exactly is the cost? Nothing additional over cash and still 99% of people pay nothing for their day to day banking.
For the end user, paying by cash or paying by card/phone etc is no different - it’s free to them.2 -
I lose about £50 a week in card fees unfortunately. About £200 a month which would be nice in my pocket but there is nothing I can do about it. I just have to suck it up. It's a shame the card machines have to be so greedy and charge a high percentage on my earnings.1
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Don't really like the concept of every penny I spend being tracked. Also with everything being so phone based the opportunity for fraud and theft has increased. If somebody nicks your phone having shoulder surfed you pin if you have one, banking apps can be reinstalled and the code is sent to your nicked phone and they are off and running ....1
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O-Randy-Hunt said:I lose about £50 a week in card fees unfortunately. About £200 a month which would be nice in my pocket but there is nothing I can do about it. I just have to suck it up. It's a shame the card machines have to be so greedy and charge a high percentage on my earnings.You may save on insurance by not having as much cash on the premises and save time by your receipts being automatically credited to your account. You / your staff have less risk of robbery etc.
We all want to pay the minimum fees naturally but there are mitigations / compensatory points to handling less cash is my observation.0 -
Rob7Lee said:Algarveaddick said:Rob7Lee said:Algarveaddick said:Dugdaleclass said:Interesting to hear from people who work in the financial services sector and their take. Since the pandemic I have to admit leaving cash in a drawer and relying on cards to pay for anything and everything. In fact the only time I have had to carry cash at all was on a visit to Japan (one of the most advanced technological countries but still a society which prefers the colour of your money when making transactions).
High Street banks are pushing for their customers to take responsibility for their own banking through the use of apps. All well and good for those who prefer the tech...but perhaps not for older customers who often have the more substantial accounts. I still insist on monthly paper statements so I have a record in writing of my transactions.
The 'cash or card' title of this thread is already moving towards being obsolete given that increasing numbers of people are relying on their phones to pay for everything. Great if this is how you like to spend. So easy and accessible. Not so great if you lose your phone or it's nicked.
for the man (or woman) on the street, with a current account waving their phone at a terminal - what exactly is the cost? Nothing additional over cash and still 99% of people pay nothing for their day to day banking.
For the end user, paying by cash or paying by card/phone etc is no different - it’s free to them.0 -
ME14addick said:SomervilleAddick said:Rob7Lee said:Algarveaddick said:Rob7Lee said:Algarveaddick said:Dugdaleclass said:Interesting to hear from people who work in the financial services sector and their take. Since the pandemic I have to admit leaving cash in a drawer and relying on cards to pay for anything and everything. In fact the only time I have had to carry cash at all was on a visit to Japan (one of the most advanced technological countries but still a society which prefers the colour of your money when making transactions).
High Street banks are pushing for their customers to take responsibility for their own banking through the use of apps. All well and good for those who prefer the tech...but perhaps not for older customers who often have the more substantial accounts. I still insist on monthly paper statements so I have a record in writing of my transactions.
The 'cash or card' title of this thread is already moving towards being obsolete given that increasing numbers of people are relying on their phones to pay for everything. Great if this is how you like to spend. So easy and accessible. Not so great if you lose your phone or it's nicked.
for the man (or woman) on the street, with a current account waving their phone at a terminal - what exactly is the cost? Nothing additional over cash and still 99% of people pay nothing for their day to day banking.
For the end user, paying by cash or paying by card/phone etc is no different - it’s free to them.The real criminals will always find a way to launder money and evade tax, in huge amounts. Making society card only just reduces the chances of the little guy getting a break from the tax man...0 -
Algarveaddick said:ME14addick said:SomervilleAddick said:Rob7Lee said:Algarveaddick said:Rob7Lee said:Algarveaddick said:Dugdaleclass said:Interesting to hear from people who work in the financial services sector and their take. Since the pandemic I have to admit leaving cash in a drawer and relying on cards to pay for anything and everything. In fact the only time I have had to carry cash at all was on a visit to Japan (one of the most advanced technological countries but still a society which prefers the colour of your money when making transactions).
High Street banks are pushing for their customers to take responsibility for their own banking through the use of apps. All well and good for those who prefer the tech...but perhaps not for older customers who often have the more substantial accounts. I still insist on monthly paper statements so I have a record in writing of my transactions.
The 'cash or card' title of this thread is already moving towards being obsolete given that increasing numbers of people are relying on their phones to pay for everything. Great if this is how you like to spend. So easy and accessible. Not so great if you lose your phone or it's nicked.
for the man (or woman) on the street, with a current account waving their phone at a terminal - what exactly is the cost? Nothing additional over cash and still 99% of people pay nothing for their day to day banking.
For the end user, paying by cash or paying by card/phone etc is no different - it’s free to them.The real criminals will always find a way to launder money and evade tax, in huge amounts. Making society card only just reduces the chances of the little guy getting a break from the tax man...2 -
valleynick66 said:O-Randy-Hunt said:I lose about £50 a week in card fees unfortunately. About £200 a month which would be nice in my pocket but there is nothing I can do about it. I just have to suck it up. It's a shame the card machines have to be so greedy and charge a high percentage on my earnings.You may save on insurance by not having as much cash on the premises and save time by your receipts being automatically credited to your account. You / your staff have less risk of robbery etc.
We all want to pay the minimum fees naturally but there are mitigations / compensatory points to handling less cash is my observation.
It's just annoying someone always wants a cut of your earnings and the card machine i use takes around £10-£15 a day from me.2 -
O-Randy-Hunt said:valleynick66 said:O-Randy-Hunt said:I lose about £50 a week in card fees unfortunately. About £200 a month which would be nice in my pocket but there is nothing I can do about it. I just have to suck it up. It's a shame the card machines have to be so greedy and charge a high percentage on my earnings.You may save on insurance by not having as much cash on the premises and save time by your receipts being automatically credited to your account. You / your staff have less risk of robbery etc.
We all want to pay the minimum fees naturally but there are mitigations / compensatory points to handling less cash is my observation.
It's just annoying someone always wants a cut of your earnings and the card machine i use takes around £10-£15 a day from me.Depending on the tariff cash may be a separate element.If you have managed to avoid that due to volumes you pay cash in so be it.As a minimum though cards must save you some modest time in going to the bank and Counting the cash etc.0 -
valleynick66 said:O-Randy-Hunt said:valleynick66 said:O-Randy-Hunt said:I lose about £50 a week in card fees unfortunately. About £200 a month which would be nice in my pocket but there is nothing I can do about it. I just have to suck it up. It's a shame the card machines have to be so greedy and charge a high percentage on my earnings.You may save on insurance by not having as much cash on the premises and save time by your receipts being automatically credited to your account. You / your staff have less risk of robbery etc.
We all want to pay the minimum fees naturally but there are mitigations / compensatory points to handling less cash is my observation.
It's just annoying someone always wants a cut of your earnings and the card machine i use takes around £10-£15 a day from me.Depending on the tariff cash may be a separate element.If you have managed to avoid that due to volumes you pay cash in so be it.As a minimum though cards must save you some modest time in going to the bank and Counting the cash etc.0 -
ME14addick said:Algarveaddick said:ME14addick said:SomervilleAddick said:Rob7Lee said:Algarveaddick said:Rob7Lee said:Algarveaddick said:Dugdaleclass said:Interesting to hear from people who work in the financial services sector and their take. Since the pandemic I have to admit leaving cash in a drawer and relying on cards to pay for anything and everything. In fact the only time I have had to carry cash at all was on a visit to Japan (one of the most advanced technological countries but still a society which prefers the colour of your money when making transactions).
High Street banks are pushing for their customers to take responsibility for their own banking through the use of apps. All well and good for those who prefer the tech...but perhaps not for older customers who often have the more substantial accounts. I still insist on monthly paper statements so I have a record in writing of my transactions.
The 'cash or card' title of this thread is already moving towards being obsolete given that increasing numbers of people are relying on their phones to pay for everything. Great if this is how you like to spend. So easy and accessible. Not so great if you lose your phone or it's nicked.
for the man (or woman) on the street, with a current account waving their phone at a terminal - what exactly is the cost? Nothing additional over cash and still 99% of people pay nothing for their day to day banking.
For the end user, paying by cash or paying by card/phone etc is no different - it’s free to them.The real criminals will always find a way to launder money and evade tax, in huge amounts. Making society card only just reduces the chances of the little guy getting a break from the tax man...
Like I said, the real criminals will still find a way to launder money and evade tax, cashless society or not.6 -
valleynick66 said:O-Randy-Hunt said:valleynick66 said:O-Randy-Hunt said:I lose about £50 a week in card fees unfortunately. About £200 a month which would be nice in my pocket but there is nothing I can do about it. I just have to suck it up. It's a shame the card machines have to be so greedy and charge a high percentage on my earnings.You may save on insurance by not having as much cash on the premises and save time by your receipts being automatically credited to your account. You / your staff have less risk of robbery etc.
We all want to pay the minimum fees naturally but there are mitigations / compensatory points to handling less cash is my observation.
It's just annoying someone always wants a cut of your earnings and the card machine i use takes around £10-£15 a day from me.Depending on the tariff cash may be a separate element.If you have managed to avoid that due to volumes you pay cash in so be it.As a minimum though cards must save you some modest time in going to the bank and Counting the cash etc.
As for the time taken banking, if it takes ten minutes and it saves £20, that's a rate of £120 an hour...
What doesn't save me time is standing behind a bloke in a pub whose watch doesn't work, so then he gets his phone out and is then told "No tap it on the top, not on the front" and then has to put his PIN in because it is his nth transaction, all to pay £4.90 for a pint...1 - Sponsored links:
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Use Pay By Bank, all the benefits of card at a fraction of the cost0
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Algarveaddick said:valleynick66 said:O-Randy-Hunt said:valleynick66 said:O-Randy-Hunt said:I lose about £50 a week in card fees unfortunately. About £200 a month which would be nice in my pocket but there is nothing I can do about it. I just have to suck it up. It's a shame the card machines have to be so greedy and charge a high percentage on my earnings.You may save on insurance by not having as much cash on the premises and save time by your receipts being automatically credited to your account. You / your staff have less risk of robbery etc.
We all want to pay the minimum fees naturally but there are mitigations / compensatory points to handling less cash is my observation.
It's just annoying someone always wants a cut of your earnings and the card machine i use takes around £10-£15 a day from me.Depending on the tariff cash may be a separate element.If you have managed to avoid that due to volumes you pay cash in so be it.As a minimum though cards must save you some modest time in going to the bank and Counting the cash etc.
As for the time taken banking, if it takes ten minutes and it saves £20, that's a rate of £120 an hour...
What doesn't save me time is standing behind a bloke in a pub whose watch doesn't work, so then he gets his phone out and is then told "No tap it on the top, not on the front" and then has to put his PIN in because it is his nth transaction, all to pay £4.90 for a pint...You get the terminal , automated and secure payment etc and id argue more prospective customers because you offer cards.That can’t be for free realistically. But as I said of corse if the fees could be trimmed so much the better.0 -
Algarveaddick said:valleynick66 said:O-Randy-Hunt said:valleynick66 said:O-Randy-Hunt said:I lose about £50 a week in card fees unfortunately. About £200 a month which would be nice in my pocket but there is nothing I can do about it. I just have to suck it up. It's a shame the card machines have to be so greedy and charge a high percentage on my earnings.You may save on insurance by not having as much cash on the premises and save time by your receipts being automatically credited to your account. You / your staff have less risk of robbery etc.
We all want to pay the minimum fees naturally but there are mitigations / compensatory points to handling less cash is my observation.
It's just annoying someone always wants a cut of your earnings and the card machine i use takes around £10-£15 a day from me.Depending on the tariff cash may be a separate element.If you have managed to avoid that due to volumes you pay cash in so be it.As a minimum though cards must save you some modest time in going to the bank and Counting the cash etc.
As for the time taken banking, if it takes ten minutes and it saves £20, that's a rate of £120 an hour...
What doesn't save me time is standing behind a bloke in a pub whose watch doesn't work, so then he gets his phone out and is then told "No tap it on the top, not on the front" and then has to put his PIN in because it is his nth transaction, all to pay £4.90 for a pint...2 -
Algarveaddick said:ME14addick said:Algarveaddick said:ME14addick said:SomervilleAddick said:Rob7Lee said:Algarveaddick said:Rob7Lee said:Algarveaddick said:Dugdaleclass said:Interesting to hear from people who work in the financial services sector and their take. Since the pandemic I have to admit leaving cash in a drawer and relying on cards to pay for anything and everything. In fact the only time I have had to carry cash at all was on a visit to Japan (one of the most advanced technological countries but still a society which prefers the colour of your money when making transactions).
High Street banks are pushing for their customers to take responsibility for their own banking through the use of apps. All well and good for those who prefer the tech...but perhaps not for older customers who often have the more substantial accounts. I still insist on monthly paper statements so I have a record in writing of my transactions.
The 'cash or card' title of this thread is already moving towards being obsolete given that increasing numbers of people are relying on their phones to pay for everything. Great if this is how you like to spend. So easy and accessible. Not so great if you lose your phone or it's nicked.
for the man (or woman) on the street, with a current account waving their phone at a terminal - what exactly is the cost? Nothing additional over cash and still 99% of people pay nothing for their day to day banking.
For the end user, paying by cash or paying by card/phone etc is no different - it’s free to them.The real criminals will always find a way to launder money and evade tax, in huge amounts. Making society card only just reduces the chances of the little guy getting a break from the tax man...
Like I said, the real criminals will still find a way to launder money and evade tax, cashless society or not.0 -
Algarveaddick said:valleynick66 said:O-Randy-Hunt said:valleynick66 said:O-Randy-Hunt said:I lose about £50 a week in card fees unfortunately. About £200 a month which would be nice in my pocket but there is nothing I can do about it. I just have to suck it up. It's a shame the card machines have to be so greedy and charge a high percentage on my earnings.You may save on insurance by not having as much cash on the premises and save time by your receipts being automatically credited to your account. You / your staff have less risk of robbery etc.
We all want to pay the minimum fees naturally but there are mitigations / compensatory points to handling less cash is my observation.
It's just annoying someone always wants a cut of your earnings and the card machine i use takes around £10-£15 a day from me.Depending on the tariff cash may be a separate element.If you have managed to avoid that due to volumes you pay cash in so be it.As a minimum though cards must save you some modest time in going to the bank and Counting the cash etc.
As for the time taken banking, if it takes ten minutes and it saves £20, that's a rate of £120 an hour...
What doesn't save me time is standing behind a bloke in a pub whose watch doesn't work, so then he gets his phone out and is then told "No tap it on the top, not on the front" and then has to put his PIN in because it is his nth transaction, all to pay £4.90 for a pint...0 -
Algarveaddick said:ME14addick said:Algarveaddick said:ME14addick said:SomervilleAddick said:Rob7Lee said:Algarveaddick said:Rob7Lee said:Algarveaddick said:Dugdaleclass said:Interesting to hear from people who work in the financial services sector and their take. Since the pandemic I have to admit leaving cash in a drawer and relying on cards to pay for anything and everything. In fact the only time I have had to carry cash at all was on a visit to Japan (one of the most advanced technological countries but still a society which prefers the colour of your money when making transactions).
High Street banks are pushing for their customers to take responsibility for their own banking through the use of apps. All well and good for those who prefer the tech...but perhaps not for older customers who often have the more substantial accounts. I still insist on monthly paper statements so I have a record in writing of my transactions.
The 'cash or card' title of this thread is already moving towards being obsolete given that increasing numbers of people are relying on their phones to pay for everything. Great if this is how you like to spend. So easy and accessible. Not so great if you lose your phone or it's nicked.
for the man (or woman) on the street, with a current account waving their phone at a terminal - what exactly is the cost? Nothing additional over cash and still 99% of people pay nothing for their day to day banking.
For the end user, paying by cash or paying by card/phone etc is no different - it’s free to them.The real criminals will always find a way to launder money and evade tax, in huge amounts. Making society card only just reduces the chances of the little guy getting a break from the tax man...
Like I said, the real criminals will still find a way to launder money and evade tax, cashless society or not.5 -
ME14addick said:Algarveaddick said:ME14addick said:Algarveaddick said:ME14addick said:SomervilleAddick said:Rob7Lee said:Algarveaddick said:Rob7Lee said:Algarveaddick said:Dugdaleclass said:Interesting to hear from people who work in the financial services sector and their take. Since the pandemic I have to admit leaving cash in a drawer and relying on cards to pay for anything and everything. In fact the only time I have had to carry cash at all was on a visit to Japan (one of the most advanced technological countries but still a society which prefers the colour of your money when making transactions).
High Street banks are pushing for their customers to take responsibility for their own banking through the use of apps. All well and good for those who prefer the tech...but perhaps not for older customers who often have the more substantial accounts. I still insist on monthly paper statements so I have a record in writing of my transactions.
The 'cash or card' title of this thread is already moving towards being obsolete given that increasing numbers of people are relying on their phones to pay for everything. Great if this is how you like to spend. So easy and accessible. Not so great if you lose your phone or it's nicked.
for the man (or woman) on the street, with a current account waving their phone at a terminal - what exactly is the cost? Nothing additional over cash and still 99% of people pay nothing for their day to day banking.
For the end user, paying by cash or paying by card/phone etc is no different - it’s free to them.The real criminals will always find a way to launder money and evade tax, in huge amounts. Making society card only just reduces the chances of the little guy getting a break from the tax man...
Like I said, the real criminals will still find a way to launder money and evade tax, cashless society or not.
What they get away with compared to say a window cleaner taking cash only is ridiculous.3 -
What's absolutely ridiculous is anywhere outright refusing to take cash. It's a quick way to ensure I don't ever go in there, cash is legal tender still.
Ive told the story before about how much the landlady of my local loses to the card machine issuer and its ensured I pay cash all the time in there. I dislike the lazy way a card machine is waved at me everywhere now and the attitude of people thinking I'm a weirdo wanting to see the amount on the screen before committing to payment.
It used to be a roll of the eyes when someone wanted to pay by card at a busy bar now barmaids have a shock when they are handed a score and expected to count out change, this doesn't bother me but it is an amusing societal change.
And airlines can fuck all the way off, the way those arseclowns make up rules and make the whole experience of air travel as aggravating as possible as it is now deciding not to handle cash on a flight, no drinking your own alcohol you've bought in the airport but paying their rancid prices for booze is absolutely fine. Fuck off
I'm not against using card payments or phone payments at all, in fact they have helped speed things up but I absolutely am against places going cashless. Encourage other payment methods by all means but call refusing to take cash is utterly stupid and just ensures I'll give it to another place that will accept it instead until cash is illegal
And car dealerships can get knotted too thinking they are the fraud squad asking where any physical cash has come from or looking at me like I'm a money launderer if I want to pay for something in cash as opposed to taking up their piss-take finance. True story, ten years ago me and a car salesman got into a stand-off over me wanting to pay for a car and him not wanting to take the money. Him asking me over and over where I got the money from, wanting me to take the cash I had to a physical bank so I could pay them the same amount, using the physical cash turned into an electronic transaction and then, still wanting to know the ins and outs of a cats arsehole about where I got the money from and them not wanting to take such a large payment in one go.
It came down to me asking if he wanted to sell me the car or not and if he would take the cash I was outta there.
Anyway, yeah cards and phone payments are cool but I feel most free with a wallet full of cash6 -
blackpool72 said:ME14addick said:Algarveaddick said:ME14addick said:Algarveaddick said:ME14addick said:SomervilleAddick said:Rob7Lee said:Algarveaddick said:Rob7Lee said:Algarveaddick said:Dugdaleclass said:Interesting to hear from people who work in the financial services sector and their take. Since the pandemic I have to admit leaving cash in a drawer and relying on cards to pay for anything and everything. In fact the only time I have had to carry cash at all was on a visit to Japan (one of the most advanced technological countries but still a society which prefers the colour of your money when making transactions).
High Street banks are pushing for their customers to take responsibility for their own banking through the use of apps. All well and good for those who prefer the tech...but perhaps not for older customers who often have the more substantial accounts. I still insist on monthly paper statements so I have a record in writing of my transactions.
The 'cash or card' title of this thread is already moving towards being obsolete given that increasing numbers of people are relying on their phones to pay for everything. Great if this is how you like to spend. So easy and accessible. Not so great if you lose your phone or it's nicked.
for the man (or woman) on the street, with a current account waving their phone at a terminal - what exactly is the cost? Nothing additional over cash and still 99% of people pay nothing for their day to day banking.
For the end user, paying by cash or paying by card/phone etc is no different - it’s free to them.The real criminals will always find a way to launder money and evade tax, in huge amounts. Making society card only just reduces the chances of the little guy getting a break from the tax man...
Like I said, the real criminals will still find a way to launder money and evade tax, cashless society or not.
What they get away with compared to say a window cleaner taking cash only is ridiculous.
Thats not to say some sort of Wealth Tax isn’t appropriate.The real issue remains the gap between the top and bottom earners.1 -
valleynick66 said:blackpool72 said:ME14addick said:Algarveaddick said:ME14addick said:Algarveaddick said:ME14addick said:SomervilleAddick said:Rob7Lee said:Algarveaddick said:Rob7Lee said:Algarveaddick said:Dugdaleclass said:Interesting to hear from people who work in the financial services sector and their take. Since the pandemic I have to admit leaving cash in a drawer and relying on cards to pay for anything and everything. In fact the only time I have had to carry cash at all was on a visit to Japan (one of the most advanced technological countries but still a society which prefers the colour of your money when making transactions).
High Street banks are pushing for their customers to take responsibility for their own banking through the use of apps. All well and good for those who prefer the tech...but perhaps not for older customers who often have the more substantial accounts. I still insist on monthly paper statements so I have a record in writing of my transactions.
The 'cash or card' title of this thread is already moving towards being obsolete given that increasing numbers of people are relying on their phones to pay for everything. Great if this is how you like to spend. So easy and accessible. Not so great if you lose your phone or it's nicked.
for the man (or woman) on the street, with a current account waving their phone at a terminal - what exactly is the cost? Nothing additional over cash and still 99% of people pay nothing for their day to day banking.
For the end user, paying by cash or paying by card/phone etc is no different - it’s free to them.The real criminals will always find a way to launder money and evade tax, in huge amounts. Making society card only just reduces the chances of the little guy getting a break from the tax man...
Like I said, the real criminals will still find a way to launder money and evade tax, cashless society or not.
What they get away with compared to say a window cleaner taking cash only is ridiculous.
Thats not to say some sort of Wealth Tax isn’t appropriate.The real issue remains the gap between the top and bottom earners.0