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Results: Could you live without cash?

Yes

41.09% • 53 votes

No

58.91% • 76 votes

You may not vote on this poll

129 votes in total.

  • FIRST POST
    • MSE Andrea
    • By MSE Andrea 12th Sep 17, 12:03 PM
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    MSE Andrea
    Could you live without cash?
    • #1
    • 12th Sep 17, 12:03 PM
    Could you live without cash? 12th Sep 17 at 12:03 PM

    Hi everyone!

    The BBC thinks Sweden is coming close to being a cashless society.

    Do you think that would work in the UK?

    Could you live without cash?

    Could your kids? Do they need to learn about all money including coins?

    Do you think it's inevitable we'll eventually go cashless?

    What do you use coins for now that you don't think you could do without if they didn't exist?


    Why Sweden is close to becoming a cashless economy


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    Last edited by MSE Andrea; 12-09-2017 at 12:35 PM.

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Page 3
    • PasturesNew
    • By PasturesNew 12th Sep 17, 11:58 PM
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    PasturesNew
    It can't be done. It can be done 99.99% of the time, but it's that other bit.

    If I have £5 in my hand, I know I can buy food for many days until I can get more money sorted.

    With cashless you're at the mercy of machines working, connectivity, a magnetic strip still working, hacking, systems down, banks gone under, all sorts.

    I like to have £5 in my hand and know I can walk into a shop and walk out with bread, eggs, beans, spuds, cheese, milk, cereal .... and all manner of food to eat while I sort out the issue of getting more money.

    If you're in a shop and a card is declined for any reason .... you're stuffed.
    • MSE Andrea
    • By MSE Andrea 13th Sep 17, 9:26 AM
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    MSE Andrea
    There's something about having the cash in your own hands. I think with contactless it's too easy to just pay and go and if you're not strongwilled you could end up spending more than you'd like.

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    • pimento
    • By pimento 13th Sep 17, 9:39 AM
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    pimento
    I could live without cash but don't want to be tracked, thank you very much.

    I always tip with cash.
    "If you think it's expensive to hire a professional to do the job, wait until you hire an amateur." -- Red Adair
    • NBLondon
    • By NBLondon 13th Sep 17, 9:41 AM
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    NBLondon
    Like many others have said - it does rely on the infrastructure being there and working. Phone to phone personal payments is the next step for small tradespeople, window cleaners etc. but still relies on you always having a phone with credit and power. My brother-in-law makes and sells stuff at craft fairs and has had to move from wads of notes to getting a card machine but still sometimes struggles to get a signal.


    Some people will always want the untraceability of cash. I don't just mean drug dealers and bribe payers. What about those couples who put everything in one joint account? How do they (nice example) buy surprise presents for each other or (nasty example) fund a gambling/shoe-buying habit?


    Personally - it was contactless (and TSB giving cashback on contactless) that moved me from cash to cards for small amounts and it seems to be so common as to be the norm in Central London.


    I still use cash for tips in restaurants though - to ensure as best I can that it goes to the person I intended it for and not be skimmed by the employer.
    This Be the Verse - Philip Larkin. The first line that everyone knows.
    • hunters
    • By hunters 13th Sep 17, 10:53 AM
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    hunters
    So what happens if power goes down?
    Originally posted by globetraveller
    I generally go to bed
    • pollyanna24
    • By pollyanna24 13th Sep 17, 1:28 PM
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    pollyanna24
    I think it's already been mentioned, but how would a car boot work if cash didn't exist?
    Pink Sproglettes born 2008 and 2010
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    • Ganga
    • By Ganga 13th Sep 17, 1:46 PM
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    Ganga
    The Queen seems to manage ( never seen her put her hand in her purse )
    ITS NOT EASY TO GET EVERYTHING WRONG ,I HAVE TO WORK HARD TO DO IT!
    • ringo_24601
    • By ringo_24601 13th Sep 17, 1:56 PM
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    ringo_24601
    I think it's already been mentioned, but how would a car boot work if cash didn't exist?
    Originally posted by pollyanna24
    I'm sure there will be future technological updates coming..

    So we can all pay for stuff using NFC/contactless on our modern mobile phones. How long until we can accept payments on our phones too?

    A car boot sale would work well if we could all pay individuals quickly using phones. Maybe it would be linked to a specific 'purse/wallet' that kept money separate from our bank accounts.

    You could create a cashless society easily once person to person payments were seamless.
    • unholyangel
    • By unholyangel 13th Sep 17, 2:20 PM
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    unholyangel
    The chief economist of the bank of england wanted to make the UK cashless - because at present they can't have negative interest rates as people would just remove their money from the bank, but in a cashless society they wouldn't have that option - they'd be forced to either spend their money or pay a fee to save it.

    Likewise, if they didn't want you spending money, they could have fees on transactions to discourage you from spending.

    I think we'll move that way eventually, but hopefully not in my lifetime.
    Money doesn't solve poverty.....it creates it.
    • martinthebandit
    • By martinthebandit 13th Sep 17, 3:16 PM
    • 3,244 Posts
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    martinthebandit
    You could create a cashless society easily once person to person payments were seamless.
    Originally posted by ringo_24601
    For most people, however there will always be a minority albeit small perhaps who for one reason or another, age, disability etc cannot use the wonderful new cashless technology, what happens to them?
    Politics -
    from the words Poli, meaning many
    and tics meaning blood sucking parasites


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    • BBH123
    • By BBH123 13th Sep 17, 4:18 PM
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    BBH123
    I think it's already been mentioned, but how would a car boot work if cash didn't exist?
    Originally posted by pollyanna24

    I'm guessing a lot of amusement arcades would go out of business too.
    • usefulmale
    • By usefulmale 13th Sep 17, 5:11 PM
    • 2,302 Posts
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    usefulmale
    Cash is one of your last remaining freedoms. Wish it away at your peril.

    Why would anyone want to involve a third party in every transaction that you do?

    The scope for control and surveillance via that third party is truely frightening.
    Originally Posted by MSE Forum Team
    We’ve had to remove your signature because what you wrote was true and sensible and there's no room for that here.
    • borkid
    • By borkid 13th Sep 17, 6:24 PM
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    borkid
    I'm sure there will be future technological updates coming..

    So we can all pay for stuff using NFC/contactless on our modern mobile phones. How long until we can accept payments on our phones too?

    A car boot sale would work well if we could all pay individuals quickly using phones. Maybe it would be linked to a specific 'purse/wallet' that kept money separate from our bank accounts.

    You could create a cashless society easily once person to person payments were seamless.
    Originally posted by ringo_24601
    If you could get a signal. I only need to go out of my village to not get a signal. I rural areas mobile signals are a big problem.
    • ringo_24601
    • By ringo_24601 14th Sep 17, 9:22 AM
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    ringo_24601
    If you could get a signal. I only need to go out of my village to not get a signal. I rural areas mobile signals are a big problem.
    Originally posted by borkid
    You can make payments FROM your phone without a signal. Like I said, I'd expect a 'wallet' of cash stored on your phone - maybe in a digital currency like bitcoin.

    I've seen credit cards with buttons and displays - maybe the tech could be shrunk so small you won't even need a phone - just your card.

    I'm guessing a lot of amusement arcades would go out of business too.
    Originally posted by BBH123
    I was in the USA a few weeks ago, and I went to a few different arcades with my kids. They all worked without cash - you loaded up a card with points, then the kids played with those points.
    • Out, Vile Jelly
    • By Out, Vile Jelly 14th Sep 17, 10:46 AM
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    Out, Vile Jelly
    Those who like the idea of a cashless society should consider the following:

    -every aspect of your life (your alcohol intake, the type of films you watch, the charities you support etc) becomes easily available to the right bidder. Are you sure you're happy for insurers and employers to see all this? Do you really think this data is truly safe, or kept for benevolent purposes?

    -how could you proceed if your phone was lost/stolen/hacked? In a cashless society you could not get public transport, buy food, pay bills or contact anyone. I always have a spare note kept separately from my wallet; that will get me home in a taxi if I lose everything else. It's ridiculous to keep every aspect of your life contained in one (very thievable) location.

    -what is the only thing preventing banks from introducing negative interest rates? The answer is the fear of a bank-run and people withdrawing cash in a panic. Once the banks have all of everyone's money under their control they can do as they please.

    Nobody reads enough science fiction these days. We should have a healthy cynicism for the motivations of governments and multi-national corporate entities.
    They are an EYESORES!!!!
    • Izadora
    • By Izadora 14th Sep 17, 11:09 AM
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    Izadora
    I was in the USA a few weeks ago, and I went to a few different arcades with my kids. They all worked without cash - you loaded up a card with points, then the kids played with those points.
    Originally posted by ringo_24601
    That's not going to work for the 2p shove machines though which are, as far as I'm concerned, one of life's greatest delights


    I always have a spare note kept separately from my wallet; that will get me home in a taxi if I lose everything else. It's ridiculous to keep every aspect of your life contained in one (very thievable) location.
    Originally posted by Out, Vile Jelly
    Even though I pay for the vast majority of things on card (it's a pathetically small percentage but the cashback adds up eventually) I can't stand having no cash for emergencies. Having £20 split between my phone and my travel wallet has helped me out so many times when I've forgotten my purse or not had time to draw money out on my way to the station and need a cab home at the other end.
    • ringo_24601
    • By ringo_24601 14th Sep 17, 11:20 AM
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    ringo_24601
    Oh how my kids love those 2p machines at Butlins

    I don't want to get rid of cash. I just think it's very handy having both electronic and 'analogue' payment systems is a good way forward.
    • badmemory
    • By badmemory 14th Sep 17, 11:41 AM
    • 671 Posts
    • 662 Thanks
    badmemory
    Those who like the idea of a cashless society should consider the following:

    -every aspect of your life (your alcohol intake, the type of films you watch, the charities you support etc) becomes easily available to the right bidder. Are you sure you're happy for insurers and employers to see all this? Do you really think this data is truly safe, or kept for benevolent purposes?

    -how could you proceed if your phone was lost/stolen/hacked? In a cashless society you could not get public transport, buy food, pay bills or contact anyone. I always have a spare note kept separately from my wallet; that will get me home in a taxi if I lose everything else. It's ridiculous to keep every aspect of your life contained in one (very thievable) location.

    -what is the only thing preventing banks from introducing negative interest rates? The answer is the fear of a bank-run and people withdrawing cash in a panic. Once the banks have all of everyone's money under their control they can do as they please.

    Nobody reads enough science fiction these days. We should have a healthy cynicism for the motivations of governments and multi-national corporate entities.
    Originally posted by Out, Vile Jelly
    Unfortunately, some will accuse you of being paranoid, I see you as sensible and farseeing. Governments are only as "nice" as we make them and unfortunately at present we are not doing so well in that direction. They also seem to have no interest in reining in any of the corporate entities who are providing their finance.

    We should be asking ourselves, who has most interest in removing our access to cash. It is not yours & mine.

    It would give far too many people far too much information. It is all very well to say I have no secrets so why keep the info secret. That has never been an agruement that will work with me.
    • zagfles
    • By zagfles 14th Sep 17, 12:24 PM
    • 12,240 Posts
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    zagfles
    Those who like the idea of a cashless society should consider the following:

    -every aspect of your life (your alcohol intake, the type of films you watch, the charities you support etc) becomes easily available to the right bidder. Are you sure you're happy for insurers and employers to see all this? Do you really think this data is truly safe, or kept for benevolent purposes?
    Originally posted by Out, Vile Jelly
    Oh dear, I've just purchased a large amount of booze for a party. I paid by card. Will my employer find out and think I have a booze problem?
    -how could you proceed if your phone was lost/stolen/hacked? In a cashless society you could not get public transport, buy food, pay bills or contact anyone.
    Err...use a card? We're talking "cashless", not "cardless".
    I always have a spare note kept separately from my wallet; that will get me home in a taxi if I lose everything else. It's ridiculous to keep every aspect of your life contained in one (very thievable) location.
    So stick a spare card where you stick the spare note. I already have 7 cards and several accounts, I'm sure in a "cashless" society everyone would have several options.

    And anyway, unless you keep vast amounts of cash at home, or you're paid in cash, you're usually reliant on a card to get cash anyway.
    -what is the only thing preventing banks from introducing negative interest rates? The answer is the fear of a bank-run and people withdrawing cash in a panic. Once the banks have all of everyone's money under their control they can do as they please.

    Nobody reads enough science fiction these days. We should have a healthy cynicism for the motivations of governments and multi-national corporate entities.
    We should also have a healthy cynicism for the motivations of those who want to keep cash. The ECB have already stopped producing very high denomination notes because they were mainly used by criminals.
    • catkins
    • By catkins 14th Sep 17, 2:29 PM
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    catkins
    I prefer to use cash. I will draw out a certain amount if I am going shopping and then use that.

    I use my local market quite a lot and almost all the traders want cash - fruit and veg stall, cheese stall, dog food stall etc.

    I went to Sweden earlier this year and had already changed my money when someone told me that almost everywhere only take cards. In 3 weeks of using restaurants, bars, caf!s, coffee shops etc I only found one coffee shop that didn't take cash
    The world is over 4 billion years old and yet you somehow managed to exist at the same time as David Bowie
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