Millions 'will suffer without cash'

[dipsylalapo Supervisor]

Quote

The UK risks "sleepwalking" into becoming a cashless society with millions of people disadvantaged as a result, a study has concluded.

Banknotes and coins are a necessity for eight million people, according to the Access to Cash study.

The report, authored by ex-financial ombudsman Natalie Ceeney, said a cash-free society would create problems for those in debt or living in rural areas.

Last year, debit cards overtook cash as the UK's most popular payment method.

Source

 

So I assume that this isn't just an issue/change that's happening in the UK. What do our members think?

 

I keep a few notes in my wallet, but I tend to use cards (either credit or debit) for all of my transactions and even more so my phone. I can understand why in some places it would be an issue, but I think we need to push to solve those issues, rather than not embracing being cashless.

[Nick H. Supervisor]

I use both. With the exception of this past month, I normally start with 100CHF in my wallet and then take out another 100CHF once it's gone. Aside from anything else I like the look of the Swiss banknotes.

[+virtorio MVC]

EFTPOS was introduced in New Zealand in the mid-80s, became available pretty much everywhere in the early 90s and was incredibly popular by the mid-90s. I've never really carried cash.

[Ve7878]

Cash is nothing but an inconvenience and it utterly annoys me if I shop somewhere which only has cash as an option. It's 2018 and in my opinion, cash shouldn't be a thing any more.

[dipsylalapo Supervisor]

38 minutes ago, Vince800 said:

Cash is nothing but an inconvenience and it utterly annoys me if I shop somewhere which only has cash as an option. It's 2018 and in my opinion, cash shouldn't be a thing any more.

The more I move away from cash the more I agree with this, but I also see how it may not necessarily be a practical solution for everyone. 

[StrikedOut]

Although I do use both, I am 90% cash free. Although those times I do find a note or 2 in my wallet that I had forgotten about is always a nice surprise (just checked and there is £15 I forgot about!...).

[Jim K Global Moderator]

Still use cash for small purchases ... but mostly just swipe the credit card.  

 

Checks, on the other hand, need to die (in stores anyway).   

[dipsylalapo Supervisor]

4 minutes ago, Jim K said:

Still use cash for small purchases ... but mostly just swipe the credit card.  

 

Checks, on the other hand, need to die (in stores anyway).   

Cheques are still a thing?!? Think I was posted a new book about 7/8 years ago that hasn't been touched

[Slugsie]

I also mostly use my card/phone to pay, but I also carry cash for convenience.

 

I wonder how much going completely cashless would affect charities. The collection tin at the register (or even in the street) would go away, and that's a big source of income for many smaller charities. Also tip jars at coffee shops?

[Jim K Global Moderator]

2 minutes ago, dipsylalapo said:

Cheques are still a thing?!? Think I was posted a new book about 7/8 years ago that hasn't been touched

You would think they aren't...until you get in a grocery store line behind (usually) an elderly customer.

[dipsylalapo Supervisor]

 

5 minutes ago, Slugsie said:

I also mostly use my card/phone to pay, but I also carry cash for convenience.

 

I wonder how much going completely cashless would affect charities. The collection tin at the register (or even in the street) would go away, and that's a big source of income for many smaller charities. Also tip jars at coffee shops?

Well I thought the same thing. Then I was in Bank Station in London a few months back. They had people collecting for Cancer Research and were waving around contactless terminals. They're catching up.

[Southern Patriot]

6 minutes ago, dipsylalapo said:

 

Well I thought the same thing. Then I was in Bank Station in London a few months back. They had people collecting for Cancer Research and were waving around contactless terminals. They're catching up.

That wouldn't be a small charity though. As far as cash goes, I most often use it when going out to a bar to keep from just running a tab at the bar, so I can keep up with how much I'm spending, and also so I have change for the pool table. And I don't know too many strip clubs that let you tip the dancers with a card. LOL

[Slugsie]

5 hours ago, dipsylalapo said:

 

Well I thought the same thing. Then I was in Bank Station in London a few months back. They had people collecting for Cancer Research and were waving around contactless terminals. They're catching up.

The thing is there is a world of difference between grabbing a bunch of change out of your pocket and dumping it in a collection tin, and typing out an exact amount. Many will do the former without thinking, but would baulk at the latter.

 

This isn't a reason to not go cashless, just one example of how a system will need to change and adapt.

[nagokod]

On 12/19/2018 at 2:30 PM, Slugsie said:

I wonder how much going completely cashless would affect charities. The collection tin at the register (or even in the street) would go away, and that's a big source of income for many smaller charities. Also tip jars at coffee shops?

Beggars are now accepting mobile payments because we don't carry loose change anymore

 

On 12/19/2018 at 12:45 PM, Vince800 said:

Cash is nothing but an inconvenience and it utterly annoys me if I shop somewhere which only has cash as an option. It's 2018 and in my opinion, cash shouldn't be a thing any more.

Cash is freedom.

 

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[Brandon H Supervisor]

a debit card is no different from cash so there's really no reason to keep bills/coins around.

 

the whole rural/debt argument only really works when talking about cash vs credit cards but I don't see debit cards having the same issue. If you don't have a checking account that's really your own fault IMO.

 

physical money does nothing but waste resources and take up space IMO; we've exceeded the need for it.

[nagokod]

 

[Daniel F. Administrators]

I really hate using cash, coins epecially. So im happy to use my phone or bank card for as many payments as possible.

 

Does anyone else think there is something shady going on when somewhere accepts cash only?

[dipsylalapo Supervisor]

7 minutes ago, Daniel F. said:

I really hate using cash, coins epecially. So im happy to use my phone or bank card for as many payments as possible.

 

Does anyone else think there is something shady going on when somewhere accepts cash only?

I find that it's mostly smaller, older businesses that prefer cash only for one reason or another. I guess it's also to avoid paying the fees that are associated with each card transaction.

[BoondockSaint]

I use both, but I'll never go anywhere without some cash on me.

[adrynalyne]

I’ve got the same 300 USD I put in my wallet months ago. I just don’t need to use cash under most circumstances (I tip with cash though). 

[+Biscuits Brown MVC]

I too prefer to tip with cash. It does two things, first is less in fees the merchant has to cover and second, the server gets immediate (unaccounted) compensation. I'm also not worried by businesses that deal strictly in cash. Sure, there is the side that may say they are up to something but I prefer to think they are better respecting my right to privacy. When we pay in cash, there is no data to be tracked, sold or stolen.  

[Brys]

I don't use much cash anymore.

 

In theory I'd have nothing against removing cash but the problem is that, to be cashless you depend on banks and payment method providers, and none of those are guaranteed by society, they're all private companies. I think my government is supposed to provide me with a way to live in it, and cash is a part of it. If you remove it we need another way to pay stuff, and I don't want everything to depend on private companies.

 

Small businesses that deal only in cash ? Eh... I bet they have to pay the payment service provider somehow and just want to avoid that, but I'm not a tax inspector and I don't think it's up to me to check that they're doing their work right.

[Riggers]

12 minutes ago, adrynalyne said:

I’ve got the same 300 USD I put in my wallet months ago. I just don’t need to use cash under most circumstances (I tip with cash though). 

Obviouly not a very generous tipper then 😝  

[adrynalyne]

1 minute ago, Riggers said:

Obviouly not a very generous tipper then 😝  

I never go out to eat  I can see how that looked LOL.

 

I mean I do, but haven't in a long time.

3 minutes ago, Brys said:

I don't use much cash anymore.

 

In theory I'd have nothing against removing cash but the problem is that, to be cashless you depend on banks and payment method providers, and none of those are guaranteed by society, they're all private companies. I think my government is supposed to provide me with a way to live in it, and cash is a part of it. If you remove it we need another way to pay stuff, and I don't want everything to depend on private companies.

 

Small businesses that deal only in cash ? Eh... I bet they have to pay the payment service provider somehow and just want to avoid that, but I'm not a tax inspector and I don't think it's up to me to check that they're doing their work right.

We have a small restaurant here that asks for cash over plastic to avoid service charges.

 

[Brys]

2 minutes ago, adrynalyne said:

We have a small restaurant here that asks for cash over plastic to avoid service charges.

 

Yes, that's what I'm talking about. My boss handled that for some clients but I never paid much attention. I don't remember if they just pay the charges every time you pay, if they have to buy or rent the card readers, etc... I remember one also having to pass some security certifications linked to that... So yeah, it's not free. They still charge you 30$, but some of those have to go to the card people at some point.