Author Topic: Is it the end of cash?  (Read 38295 times)

Adam

  • It'll soon be summer
    • Charity ride Durness to Dover 18-25th June 2011
Re: Is it the end of cash?
« Reply #125 on: 06 February, 2021, 09:26:21 pm »
Perhaps it's the per transaction fees that make eftpos unviable for them on an individual level?

Don't think so.  I know 30 years ago, when it was just the 4 big banks and there was just the Visa & Mastercard cartels, and they had similar one-off transaction fee + a percentage.  However, with the rise of so many other banks, I think the majority are now just a simple percentage only charge.

I'm with SumUp which is 1.6%, and that's not too bad if the vast majority of my takings are electronic giving me a net 98.4% as it means I avoid having to queue up for 30 minutes outside the bank in the rain to pay cash in.
“Life is like riding a bicycle. To keep your balance you must keep moving.” -Albert Einstein

Re: Is it the end of cash?
« Reply #126 on: 06 February, 2021, 09:41:13 pm »
My dried goods grocery shop yesterday was with cash whereas groceries today was with a card.  I also bought flour, savoury scones and cakes from our local bakery yesterday which was also a cash transaction.

The two I paid in cash are small local traders whereas the card transaction was in a national supermarket chain.

Re: Is it the end of cash?
« Reply #127 on: 06 February, 2021, 10:50:39 pm »
Last night I went out to the fish and chip van. A small local business. It took contactless payment from my ‘phone.
We are making a New World (Paul Nash, 1918)

Re: Is it the end of cash?
« Reply #128 on: 07 February, 2021, 01:04:57 pm »
Last time I was in Tenerife the cafe up in the hills was cash only. The little bank round the corner had a contactless cash machine which I could use with my phone.

Cudzoziemiec

  • Ride adventurously and stop for a brew.
Re: Is it the end of cash?
« Reply #129 on: 07 February, 2021, 01:22:30 pm »
Last time I was in Tenerife the cafe up in the hills was cash only. The little bank round the corner had a contactless cash machine which I could use with my phone.
This was a possibility for Cudzo Jnr yesterday. However, it's not any cash machine; he has to get a transaction number from the bank and then use one of their machines, which was half a mile or so in the wrong direction, ie he didn't think it worth it for a burger. (I guess he wasn't really into that burger... ) That might be a feature of the Googlepay app and/or his bank rather than a universal thing.
Riding a concrete path through the nebulous and chaotic future.

Re: Is it the end of cash?
« Reply #130 on: 12 February, 2021, 10:10:59 am »
I "dumped my wallet" at the start of lockdown in favour of this: https://www.cycleofgood.com/shop/gifts/wallets-and-purses/pocket-wallet/
which is good because:
It's made of old inner tubes; tough and cycley!
It's very slim and flat, good for a trouser or jersey pocket
Good cause etc

It wouldn't be any good for coins but you could keep banknotes in there.

Really nice stuff. Thanks

Re: Is it the end of cash?
« Reply #131 on: 12 February, 2021, 10:20:09 am »
I "dumped my wallet" at the start of lockdown in favour of this: https://www.cycleofgood.com/shop/gifts/wallets-and-purses/pocket-wallet/
which is good because:
It's made of old inner tubes; tough and cycley!
It's very slim and flat, good for a trouser or jersey pocket
Good cause etc

It wouldn't be any good for coins but you could keep banknotes in there.

Really nice stuff. Thanks

I missed this first time around but I have now ordered one to see if it suits for my running needs.  Nice project.

Thanks.

Cudzoziemiec

  • Ride adventurously and stop for a brew.
Re: Is it the end of cash?
« Reply #132 on: 17 May, 2021, 10:32:42 am »
Yesterday I bought some dope from a homeless guy and paid by contactless. The cashless economy is reaching deep, dark corners.  :D

(It's a magazine similar to the Big Issue, I'm pretty sure he's not strictly homeless, and he seems to have some terminal-sharing arrangement with the "Cuban style" takeaway on the corner.)
Riding a concrete path through the nebulous and chaotic future.

Davef

Re: Is it the end of cash?
« Reply #133 on: 17 May, 2021, 01:41:27 pm »
Yesterday I bought some dope from a homeless guy and paid by contactless. The cashless economy is reaching deep, dark corners.  :D

(It's a magazine similar to the Big Issue, I'm pretty sure he's not strictly homeless, and he seems to have some terminal-sharing arrangement with the "Cuban style" takeaway on the corner.)
Some big issue sellers have contactless.

Re: Is it the end of cash?
« Reply #134 on: 17 May, 2021, 01:45:06 pm »
Mrs Nutty has put a few outgrown children's toys and clothes on a local sales internet site.  So far today I've been given £6 in coin from one person and £3 in coin from another.  £9 and a new home is better than landfill.

I don't have a card machine, nor as a member of the public without a business do I have a need for one.

I think cash will last a long time.

Cudzoziemiec

  • Ride adventurously and stop for a brew.
Re: Is it the end of cash?
« Reply #135 on: 25 November, 2021, 08:10:09 am »
On Tuesday I did one of my now sporadic shifts in the charity bookshop. This was an afternoon shift, so included cashing up. Takings for the day were just over £370, of which cash was precisely £11.45.
Riding a concrete path through the nebulous and chaotic future.

Re: Is it the end of cash?
« Reply #136 on: 25 November, 2021, 09:01:25 am »
I was in one of our local independents a few days back.  The proprietor took over the business a couple of years back and decided to upgrade the systems in the shop.  His background is 30 years in IT though IT is such a broad spectrum of skills and knowledge that this might be largely irrelevant.

Anyway, the payment technology based upon an ipad and an electronic card reader just wouldn't work.  The fallback option of pieces of thin, flexible, partly transparent sheets of plastic and mainly round metal objects of varying sizes and colours was immediately instigated in it's place.

I don't know what the fault was but it didn't affect me as I had the necessary about my person unlike the other customer in the shop at the time who was the one being served when the issue first arose.

Cudzoziemiec

  • Ride adventurously and stop for a brew.
Re: Is it the end of cash?
« Reply #137 on: 13 December, 2021, 08:26:41 pm »
Cash is alive! But Scottish cash in England means crime...
Quote
At the time, the National Crime Agency requested information about the customer and said that as this involved a lot of Scottish banknotes being deposited, “this money may have been related to the trade in controlled drugs”, court documents state. Law enforcement officers believed that the discovery of large amounts of Scottish banknotes in England was an indicator of criminal activity.
https://www.theguardian.com/business/2021/dec/13/natwest-fined-264m-after-admitting-breaching-anti-money-laundering-rules

On a separate note, I see that the fine was less than the amount taken in deposits, so presumably it was still worthwhile to the bank.
Riding a concrete path through the nebulous and chaotic future.

FifeingEejit

  • Not Small
Re: Is it the end of cash?
« Reply #138 on: 13 December, 2021, 08:27:55 pm »
Amateurs the Pros use Jerseouis pounds, the serious use Manx.

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Jaded

  • The Codfather
  • Formerly known as Jaded
Re: Is it the end of cash?
« Reply #139 on: 13 December, 2021, 08:29:53 pm »
So a bank can get fined for accepting bin bags full of cash, but takes 6 months to update signatories for a public body or charity account.  ???
It is simpler than it looks.

Beardy

  • Shedist
Re: Is it the end of cash?
« Reply #140 on: 13 December, 2021, 08:59:47 pm »
What is this cash you talk about  ???
For every complex problem in the world, there is a simple and easily understood solution that’s wrong.

Re: Is it the end of cash?
« Reply #141 on: 13 December, 2021, 09:26:57 pm »
Well, to disappoint those of you who seem desperate to make it impossible for a section of society to survive, I used cash today.

Every December in Rugby we have a charity cafe pop up which raises funds to help women in India.  I will visit quite a few times and we traditionally have a Christmas dinner there with a group of friends.

We always pay cash. 

hellymedic

  • Just do it!
Re: Is it the end of cash?
« Reply #142 on: 13 December, 2021, 09:58:02 pm »
Last week's cab driver was DELIGHTED I was paying with cash when he dropped me off to see Ancient Parents last week.

The underground car park in their block of flats has dodgy/absent mobile phone reception.

Card payment would have been a problem.

Re: Is it the end of cash?
« Reply #143 on: 14 December, 2021, 05:49:22 pm »
I paid a local shopkeeper in cash and he made a comment about me being the second person in a row to do so.  I didn’t catch the whole comment and immediately offered to pay by card thinking he was moaning as it was close to closing time on a Saturday and he would have cash to secure.  No, he wasn’t giving me the cash back under any circumstances.  He said, only half jokingly I think, that the proliferation of traceable card payments since Covid was playing havoc with his tax liability.

mattc

  • n.b. have grown beard since photo taken
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Re: Is it the end of cash?
« Reply #144 on: 14 December, 2021, 11:08:14 pm »
ATM at Sainsbury's this evening had a receipt sticking out the slot-thingy.

Being a nosy bast*rd, I couldn't help reading it: £300. And they couldn't be bothered to select "Cash - No Receipt".

(I'm not using much cash, but I do it as often as I can - I really hate checking all my receipts against my statement ... )
Has never ridden RAAM
---------
No.11  Because of the great host of those who dislike the least appearance of "swank " when they travel the roads and lanes. - From Kuklos' 39 Articles

Re: Is it the end of cash?
« Reply #145 on: 15 December, 2021, 10:44:26 am »
These days you can get a notification on your phone every time your card is charged (usually within seconds) which surely serves the same purpose.

(“But I don’t have a phone” etc)

CrazyEnglishTriathlete

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Re: Is it the end of cash?
« Reply #146 on: 15 December, 2021, 10:46:02 am »
My music teacher now accept payment by bank transfer.  It takes about as long on my phone as it does to make sure I have the right money in my wallet.  But I still carry a little cash for rare occasions when there is no other way - like at the cafe stop on the club run where their machine had died and they were only accepting cash.  I think I have been to an ATM twice in the last 18 months.  Once was just to check that, having left my bricks and mortar bank, that my new electronic bank card worked and I could remember my pin. 

But there are many who have difficulty getting a bank account - and so I don't think you can eliminate cash without further disadvantaging the already most disadvantaged part of society.
Eddington Numbers 130 (imperial), 182 (metric) 571 (furlongs)  114 (nautical miles)

Re: Is it the end of cash?
« Reply #147 on: 15 December, 2021, 10:59:22 am »
MrsC is finding that SumUP (she has a terminal) is working well for her mini-business.

I pay casual workers and local vegbox in cash. Pretty sure that never gets taxed, so they are certainly netting more than me per hour.
<i>Marmite slave</i>

Re: Is it the end of cash?
« Reply #148 on: 15 December, 2021, 11:14:08 am »
But there are many who have difficulty getting a bank account - and so I don't think you can eliminate cash without further disadvantaging the already most disadvantaged part of society.
Three examples of the use of cash.

I use a small cafe that takes cash only.
Local bakery phone line was down.  Cash only.
A few years ago - a couple of hours power cut, but the local Co-op stayed open by taking cash only and noting down all purchases.  It must have been a hell of a job updating stock list after that.

Re: Is it the end of cash?
« Reply #149 on: 13 February, 2022, 12:14:27 am »
Bangor University no longer accepts payments in cash.