Should we avoid moving towards a Cashless society?

iAMaLONDONER

I don't think the UK's move towards a cashless society is good at all. The use of cards allow banks to cream off a %/amount of all transactions.

Never mind the privacy issues!
An example is TfL's decision to phase out cash fares on the buses!

How long before other companies follow suit?!

BMN

Personally I find cards to be so much more convenient.

You can still use cash to topup your Oyster though!

iAMaLONDONER

BMN wrote: »

Personally I find cards to be so much more convenient.

You can still use cash to topup your Oyster though!

Not at the middle of the night when tube stations are closed!

greenorange

iAMaLONDONER wrote: »

Not at the middle of the night when tube stations are closed!

Most people will either have a Contactless debit/credit card, have a smartphone to top-up via the website, be near a tube station that has automated machines, be near a local corner shop thats open all hours, or as a final result, will have to jump in a taxi.

There will be very few people who find themselves stranded, and I think that's a risk worth taking to give a speedier and cheaper transport system.

iAMaLONDONER

greenorange wrote: »

Most people will either have a Contactless debit/credit card, have a smartphone to top-up via the website, be near a tube station that has automated machines, be near a local corner shop thats open all hours, or as a final result, will have to jump in a taxi.

There will be very few people who find themselves stranded, and I think that's a risk worth taking to give a speedier and cheaper transport system.

Online top ups need to be collected at a tube station and aren't immediate!

There are very few if any corner shops open between 1am and 6am!
Even in Brixton!

Lol cheaper- if you think £24 million a year(if they ever save that )much will lead to lower fares when TfL facing cuts to its subsidy!

Taxi's are very expensive and aren't a common sight outside Zone 1 - e.g try getting a taxi at Elephant & Castle!

BMN

Haven't used this feature myself but can't you setup your Oyster card to do automatic topups when your balance gets low.

Although I must say the current system still accepting cash but fares being cheaper using your Oysterdoes seem to be the most inclusive solution.

iAMaLONDONER wrote: »

I don't think the UK's move towards a cashless society is good at all. The use of cards allow banks to cream off a %/amount of all transactions.

And in relation to this point. There are also costs involved in managing physical cash. If a bank is providing this service they will also be paid for doing so.

JamTE

I'm happy to go cashless on condition that everywhere takes cards and that I'm not charged extra for the using one.

Personally I can't see it coming anytime soon, there are far too many small businesses that don't take cards and what would we do if their was a technical problem? Their still isn't a robust backup solution for every scenario.

Money-Saving-King

I have been cashless for over a decade now (even abroad) & I've managed so I can't see the problem.

Bloomberg

iAMaLONDONER wrote: »

I don't think the UK's move towards a cashless society is good at all. The use of cards allow banks to cream off a %/amount of all transactions.

Never mind the privacy issues!
An example is TfL's decision to phase out cash fares on the buses!

How long before other companies follow suit?!

I have been more or less cashless for many years now. Using my credit card enables me to keep track of every single thing I buy. Carrying cash can also have security implications.



You mention that banks make money out of card transactions. I don't have a problem with this, I like the convenience. A totally cashless society is a good few years away. They are still designing new bank notes and installing new ATMs just about everywhere.

dr_adidas01

Same here I don't usually carry cash unless I have to absolutely have to, its all done via my debit cards or credit cards.

This argument about London underground and buses you southerners should consider yourselves lucky you have the oystercard system that makes it easier and simpler to get about.

DragonQ

I very rarely use cash. I withdrew some for a night out before Christmas and still haven't used all of it, it's just sitting in my wallet. What do you need it for except parking and vending machines (which will eventually move to card/contactless anyway)? Even if I owe my friends money I can send that via FPS.