Is it the end of cash?

[Mr Larrington]

I think the trolleys are still unchained in Lt. Col. Larrington (retd.)'s nearest Sainsbo's in Leafy Surrey, presumably because of the lack of cheery Cockney urchins to rob them and throw them into the canal.  Here in sunny E17 it’s a different story.

[Syd]

Trolleys will end up using tokens that can be purchased contactless.

It’s partly that way now with those keychain tokens some people already use.

[Kim]

As our Aldi operates a de-facto trolley loan service for FOREIGN student house moves, I have one of those token things clipped to a convenient point on my shopping panniers.  Which is fine until I find myself going shopping with some other luggage and have to scrabble about in my wallet.  See also: going to the supermarket in a hire car and forgetting to bring any bags.

(My usual approach to supermarkets is to bung the panniers in a half-height trolley and then fill the remaining space with shopping, which is about the same volume.)

[ian]

The pool has £1 lockers so I’ve accumulated tokens for every cancer going. I’m the changing room Grim Reaper.

[Cudzoziemiec]

Living in the centre of a CORE CITY means you very rarely get actual trolleys. Then again, living in the centre of a CORE CITY means you can't actually afford to go shopping either. In any case, Bristol is about to be incorporated into Malaysia, so I'll have to get used to paying for everything in ringgits (nothing to do with car parking).

[ian]

On the subject of trolleys, I was impressed to see someone rolling a fully loaded Ikea trolley through Wandle Park (not entirely adjacent to the local purveyor of Swedish flatpack, so a fair amount of pushing a small wheeled flatpack trolley across Croydon's famously smooth pavement). I was more impressed when thirty minutes later he went back the other way with an empty trolley, the usual local tradition being to release them into general population.

[Cudzoziemiec]

That reminds me of something saw a few weeks ago that I was going to post in the electric scooter thread: a teenager sitting in a supermarket trolley, with his legs out the opening back part, holding on to the bars of a scooter. He was evidently trying to get the scooter to tow him in the trolley, but it wasn't working – the scooter was just wheelying, presumably the trolley had too much weight and/or resistance. Which is probably just as well, considering what might happen with teeny trolley wheels at 15mph!

[De Sisti]

You still need a pound coin (or at least something the size and shape of a pound coin) to get a trolley at Sainsos.

Or the round end of a front door key. I haven't tried it, but a fellow shopper (whilst doing a weekly shop at Aldi) told me.

[Cudzoziemiec]

Cash not ending in Irish banks.

AIB has said it has “decided not to proceed” with the proposed changes to its bank services that would have seen a further 70 branches no longer process cash.

In a statement this morning, the bank confirmed the U-turn in its policy.

The move was welcomed by Minister for Finance Paschal Donohoe.

“Banks have a key role in maintaining the flow of cash through the economy and ensuring appropriate access to retail banking services for all in society, including the vulnerable,” he said. “I note the significant public reaction to AIB’s announcement earlier this week, and I welcome the bank’s decision not to proceed with the proposed changes to customer services in certain branches.

https://www.irishtimes.com/business/financial-services/2022/07/22/aib-reverses-plan-to-make-70-banks-cashless-following-public-unease/

[mrcharly-YHT]

A friend has stated that he believes cash is better because (among other reasons) "It is quicker and easier to pay friends or tradespeople with cash."

Right. Easier, sure, after you've executed the dance of 'who has any change for a 20?':

"I owe you £11.50, right? do you have change, I only have 20s?"
"Ah, you only have a fiver?, ok, I'll give you 20, you give me a fiver and you owe me £3.50 next time we meet and you have change."

Or you could just say "Paypal or bank transfer? Ok, I'll send you £11.50. There, done."

[Polar Bear]

My favourite local cafe are striving at the minute because folk want to buy their £2.95 chai latte with £20 notes.  The cost of change at the bank is, in their words, criminal.

A number of us regulars now take our jingling pockets of change when visiting.  Only this afternoon I was third in line with loose change for which they were very appreciative.

[mrcharly-YHT]

My favourite local cafe are striving at the minute because folk want to buy their £2.95 chai latte with £20 notes.  The cost of change at the bank is, in their words, criminal.

A number of us regulars now take our jingling pockets of change when visiting.  Only this afternoon I was third in line with loose change for which they were very appreciative.

They don't use contactless?

A SumUp terminal is cheap and easy to use.

If they want one, I think MrsC has a referral code that will get them a discount.

[Polar Bear]

They do use contactless but they also take cash.

[quixoticgeek]

https://www.bbc.co.uk/news/business-62437819

Apparently as everyone is skint people are moving to doing more with cash.

I can understand that. When I was poor I used to take a single £10 or if lucky, £20 note to the supermarket with me so I didn't over spend.

It can be a double edged sword tho. Take £20 out the cash machine, spend only £13.12 of it, the rest can seem to just disappear into pockets, or a change jar, until such point as you raid said pot.

or if you have the ~£6 left over, but need to spend £8, you end up either getting another tenner out, or having to use card, and then still have the cash in your pocket.

J

[Cudzoziemiec]

It is the highest amount since records began five years ago, and only the second time that personal cash withdrawals have exceeded £800m.

What they don't tell us is the number of different individuals withdrawing cash, or the number of separate withdrawals. The total amount is bound to rise as prices rise, even without more people preferring cash over cards. Although 20% increase is higher than inflation. But it does seem to be only referring to PO counters not banks' ATMs?

[Kim]

They're abusing 'staycation' to mean 'holiday in the UK' again, which is a pet peeve.   

I was wondering if there's a demographic skew of post office counter users.  Post office accounts always used to be for old people and as a way for those who can't get a real bank account (and likely perform most of their transactions in cash by default) to access welfare benefits etc.  But as banks close branches, the post office has taken up the slack for dealing with cash and cheques.

[Cudzoziemiec]

POs are more numerous and more local than bank branches but still unevenly spread and can have odd opening hours. We have three within about half a mile. Two are open more or less normal working hours, one is closed Saturdays. The one that's closed Saturdays has no external ATM. Presumably it still does cash at the counter but that's no good if it's closed. Of the other two, one has an ATM outside, the other has two (2) ATMs, one inside and one outside!

[Pickled Onion]

It's not at all clear exactly what they mean by "personal cash withdrawals". Probably not including ATMs, or businesses needing change for their tills? Post Offices serve a rather skewed demographic for cash - people on benefits, Ukranian refugee vouchers, old people who like to make cheques out to "self" and their bank branch has closed.

I was speaking to a civil servant last week who claimed that the Mint has been printing record amounts of banknotes, and most of them have been disappearing from circulation. People stuffing them under mattresses in fear of impending doom?

[Cudzoziemiec]

I was speaking to a civil servant last week who claimed that the Mint has been printing record amounts of banknotes, and most of them have been disappearing from circulation. People stuffing them under mattresses in fear of impending doom?

Presumably inflation affects the black market too!

[Cudzoziemiec]

Just seen a little protest outside the Sainsburgh's Local, four people with placards: Cash is freedom! Say no to digital money!

[Canardly]

I have noticed more people paying in cash at supermarket check outs recently.

[Cudzoziemiec]

They could be trying to use up their paper notes before they cease to be accepted! (Srsly, a cash-preferring friend was concerned about this. I told them they have nothing to worry about – I've seen their wads of plastic 20s!)

But when I did a bookchazzer shift a few weeks ago, I did notice more people paying by cash – it's normally about one third of transactions – and it's a long time since anyone paid by watch! That used to be the old people's preference, pre-pandemic. I read it as being "Look at me! I might be old but I'm right up with the latest tech!"

[Polar Bear]

This week is the official end of using paper £10 and £20 notes iirc.  Not an issue though as you can still take them to high street banks and get them exchanged and retailers will still be able to pay them in for a while yet.

I see more people using cash because of budgeting.  They're still doing their weekly grocery shop with plastic but increasingly using cash for cafes and the like because it's easier to know when your disposable is gone.

A friend of ours who runs a small cafe has been struggling with the cost of coin change from the bank to keep up so a number of us regulars have taken to paying in coin to help her out.

[Polar Bear]

Electronic payments apparently down across the rail network.

I was able to buy my ticket ...   

[De Sisti]

Went to a cafe last Saturday. When I made my order I offered a £10 note to cover it. The shop assistant said they don't carry a float, or have cash on the premises (there were no signs indicating so). I should have asked if they would take an IOU until I returned with my bank card.