Cash or Card Payments?

[dipsylalapo Supervisor]

I read an article this morning, that in the UK, debit card payments have overtaken cash payments for the first time. With contactless payments being a popular method for day to day payments

Quote

Debit card payments have overtaken cash use for the first time, new figures show, as contactless technology takes a firm hold on day-to-day spending.

 

A total of 13.2 billion debit card payments were made last year, a rise of 14% on the previous year, according to banking trade body UK Finance.

 

That outstripped the 13.1 billion cash payments made, as the use of notes and coins dropped by 15%.

An estimated 3.4 million people hardly used cash at all during the year.

 

The annual report into the way consumers make payments revealed that the UK is a nation of spontaneous spenders. Only 15% of the 38.8 billion payments made in the UK in 2017 were for regular bills and commitments.

Source

 

What are your thoughts on card vs cash? 

 

Personally, I'll take card payments over cash any day of the week, and above card is contactless (either using my card or more preferably my phone).

[Nick H. Supervisor]

Card payments normally, but I still prefer to use a PIN rather than the contactless method. I may even ask my bank if they can send me a new card that doesn't have the contactless option.

 

Fun fact (well, not so much), I can no longer go to a teller at my Swiss bank and withdraw money. When I asked why they could no longer do it they said that there just isn't the demand for the service anymore; everyone is using their card. The only time they are allowed to withdraw money for you is if you have misplaced your card and need some cash while waiting for a replacement.

[anthdci]

I use apple pay the most, in the last few months I've found very few who don't take it. If they don't standard contactless or chip and pin if over £30. Only ever use cash if buying a drink or something similar from a small shop. As soon as the DVLA get their backside into gear and sort out the driving license in the wallet app then I'll be leaving my wallet at home and carrying a spare £5 in my phone case for an emergency. 

[dipsylalapo Supervisor]

9 minutes ago, Nick H. said:

Card payments normally, but I still prefer to use a PIN rather than the contactless method. I may even ask my bank if they can send me a new card that doesn't have the contactless option.

 

Fun fact (well, not so much), I can no longer go to a teller at my Swiss bank and withdraw money. When I asked why they could no longer do it they said that there just isn't the demand for the service anymore; everyone is using their card. The only time they are allowed to withdraw money for you is if you have misplaced your card and need some cash while waiting for a replacement.

I had a friend who did the same and requested a card without contactless until I showed him the light :P

 

I know a few banks in the UK, you can withdraw cash from an ATM without your card, you just need your banking app. It generates a code which you enter into an ATM and allows you to withdraw cash. Pretty neat. 

3 minutes ago, anthdci said:

I use apple pay the most, in the last few months I've found very few who don't take it. If they don't standard contactless or chip and pin if over £30. Only ever use cash if buying a drink or something similar from a small shop. As soon as the DVLA get their backside into gear and sort out the driving license in the wallet app then I'll be leaving my wallet at home and carrying a spare £5 in my phone case for an emergency. 

Even now, I find that my wallet is at the bottom of my bag instead of my pocket. 

 

I didn't realise that that was a thing, I'm looking forward to that! Public sector IT projects can be so slow!

[StrikedOut]

Card and contactless all the way for me. Only use cash when beer is involved but I do sometimes have a little cash for a rainy day.

[Steven P. Administrators]

Card for me too, I hardly ever carry cash anymore.

[SnoopZ]

Card for me, i wish my card wasn't contactless though or i had the ability to disable it, so i keep it in 1 of those pouches to stop it getting scanned when in my pocket.

[dipsylalapo Supervisor]

5 minutes ago, SnoopZ said:

Card for me, i wish my card wasn't contactless though or i had the ability to disable it, so i keep it in 1 of those pouches to stop it getting scanned when in my pocket.

Have you been hit by those? I hear people talking about this all the time, but always though it was an urban legend?

 

Have a look on Kickstarter...there are a tonne of RFID protected(?) wallets

[Steven P. Administrators]

9 minutes ago, SnoopZ said:

Card for me, i wish my card wasn't contactless though or i had the ability to disable it, so i keep it in 1 of those pouches to stop it getting scanned when in my pocket.

In The Netherlands you can opt to disable it at pretty much every major bank. Maybe check at your bank if it is possible, although you might be required to actually buy a new card heh.

[SnoopZ]

34 minutes ago, dipsylalapo said:

Have you been hit by those? I hear people talking about this all the time, but always though it was an urban legend?

 

Have a look on Kickstarter...there are a tonne of RFID protected(?) wallets

I've not been hit and i do put my cards in an RFID wallet.

29 minutes ago, Steven P. said:

In The Netherlands you can opt to disable it at pretty much every major bank. Maybe check at your bank if it is possible, although you might be required to actually buy a new card heh.

I think i googled it a while ago and found i couldn't have a card without contactless, but i will look again.

[+John. Subscriber¹]

Cards in an RFID Ridge Wallet used for big purchases, use my Phone for everything under £30.

 

I've genuinely only used Cash once this year in a small cafe.

[Brys]

I'm using cards every time I can and I often have no cash on me.

I do use the contactless option of my card, but I'm not entirely happy with the way it's done. When I got my first contactless card, I asked my bank about it : I can pay up to CHF40 without entering my PIN code, so I asked if I could change that and make it ask for my PIN every time, and apparently I can't. I also never asked if I could have a card entirely without the contactless.

 

With the phone options (for everything, not just contactless payment) I'm getting to the realization that we're being slowly forced to use certain things. That's what worries me with phones. Now your banks give you contactless payment over the iOS or Android app, people will certainly adopt these pretty fast, and if they decide cards aren't useful anymore and remove that option, then you have to have an iOS or Android phone to access your bank account. What's next, voting on big brand smartphones only ? I know it's a bit of an exaggeration but I'm still a bit concerned.

[+Biscuits Brown MVC]

I wish we had chip and pin here, all we get is chip and signature...    Anyway, I go for Android Pay first, card next then cash. 
 

[anthdci]

6 minutes ago, Zag L. said:

I wish we had chip and pin here, all we get is chip and signature...    Anyway, I go for Android Pay first, card next then cash. 
 

I still cant believe there are places that still use signature. How is that in anyway secure.

[cork1958]

Usually use card but do still pay cash for the smaller things.

[tsupersonic]

Card all the way! I get rewards (miles/points) that I wouldn't have earned with cash/debit card. Plus, there's other benefits to using card (fraud protection, travel/trip benefits). Just make sure you can pay off the credit card monthly in full! I do keep some cash on me and in my car, just for emergencies.

[+virtorio MVC]

Card. I don't think I've even been in contact with cash for at least 10 years.

[Steven P. Administrators]

Weird, whenever I have used contactless to pay for some groceries, if I hold it on the wrong side of the scanner it doesn't even work ? So I have to wonder how it's possible to skim from a bag or wallet (not remotely close to the scanner itself)!

[+InsaneNutter MVC]

I prefer contactless, however public transport where I am is still in the stone age and only accepts cash. I could get a weekly ticket, however for the journey I do that works out a lot more expensive than just paying cash.

 

For most other things though I use contactless via Android Pay.

[Stonkwell Bogtrotter]

3 hours ago, dipsylalapo said:

Have you been hit by those? I hear people talking about this all the time, but always though it was an urban legend?

 

Have a look on Kickstarter...there are a tonne of RFID protected(?) wallets

Urban legend usually spammed by the likes of Facebook. 

 

To have a card reader [that can take contactless], firstly you will be credit checked, you have to have a verified address, plus a verified bank linked to that verified address amd each time a payment is taken, it takes a map grid reference, complete with the mobile device details used that is linked to the reader. (see pic attached)

 

If you were to try this on, once reports of unusual activities are collated then there is an easy link back to the user.

 

I know this because I use one in my cab.

 

[SnoopZ]

14 minutes ago, Steven P. said:

Weird, whenever I have used contactless to pay for some groceries, if I hold it on the wrong side of the scanner it doesn't even work ? So I have to wonder how it's possible to skim from a bag or wallet (not remotely close to the scanner itself)!

The dodgy scanners probably have a more powerful range just like thieves do when using a device to unlock someone's car when the keys are in the house.

[anthdci]

Just now, SnoopZ said:

The dodgy scanners probably have a more powerful range just like thieves do when using a device to unlock someone's car when the keys are in the house.

they may do, but the cards cant transmit more than about 4cm due to the frequency they work on.

[Tuskd]

Cash almost everywhere unless I don't have enough money or I am transacting on the Internet.

Used to be just another average card user, but turned to cash due to many reasons.

1) I am much more conscious about my spending, how much I am shelling out and how much I have left with me. This has directly impacted my spending amount and pattern.
2) I am a casual numismatist and occasionally I might find special coins/notes which I find interesting.

3) I find it comforting from a privacy standpoint. Nobody is going to find out when, where and how I am spending my money.
4) A lot of places here still accept cash.

I understand the safety and convenience offered by card, even more so by contactless payment, but contactless hasn't really picked up a lot here. I believe I am almost on par with card payments based on the transaction time, because I already have the rough total on my mind and I am ready with cash in my hand before the billing is completed. Sometimes I am already on my way out by the time a person has to swipe, wait, enter pin, wait and then go.

[+Fahim S. MVC]

2 hours ago, Brys said:

I'm using cards every time I can and I often have no cash on me.

I do use the contactless option of my card, but I'm not entirely happy with the way it's done. When I got my first contactless card, I asked my bank about it : I can pay up to CHF40 without entering my PIN code, so I asked if I could change that and make it ask for my PIN every time, and apparently I can't. I also never asked if I could have a card entirely without the contactless.

 

With the phone options (for everything, not just contactless payment) I'm getting to the realization that we're being slowly forced to use certain things. That's what worries me with phones. Now your banks give you contactless payment over the iOS or Android app, people will certainly adopt these pretty fast, and if they decide cards aren't useful anymore and remove that option, then you have to have an iOS or Android phone to access your bank account. What's next, voting on big brand smartphones only ? I know it's a bit of an exaggeration but I'm still a bit concerned.

It's a really interesting perspective.  But that said, if you use stuff that is more esoteric then you kind of expect a harder life (and feel strongly that the thing is worth the additional hassle).  My bank did not allow their app even on rooted Android phones (not that I've rooted my phone).

 

For me cards only (or PayPal for online or personal transactions).  I barely carry cash, as I find I spend it to quickly.  The only exception is for the bus as mine doesn't take contactless or mobile.

 

I finally got Apple Pay sorted out this weekend, and I have to say it is awesome.  My mobile is always in reach, generally my cards aren't.

 

I can see a day where I only carry my mobile - and it's not that far away.

[HoochieMamma]

Both, cash and my phone via Google Pay contactless.