Do you refuse to pay on card under a certain amount?

20SmthngSver

trailingspouse wrote: »

I use my contactless credit card for absolutely everything that it can be used for. In fact the only thing I need cash for these days is the coffee machine at work (25p a pop). I actually had to pay for something in cash the other day just so that I could get change for a £20 so that I would have cash for the machine!!


There are several advantages -

- the credit card statement then acts as my spending diary. I can't 'forget' where the money's gone...
- I pay the credit card off in full every month, but get a small amount of cashback (only 0.2% now, it used to be 0.5%). Every little helps!
- I don't have to carry large amounts of cash on me. I have an 'emergency £20', but rarely more than that.

I don't 'forget' where my money has gone. Bit of an odd statement. I bet the card data gathering agencies love you! Lol

20SmthngSver

eskbanker wrote: »

No, it doesn't help, as you've missed the point!

I'm not saying that there isn't still plenty of use of cash, as clearly there is, but am challenging your specific assertion that it's increasing, when it obviously isn't.

On the specific metric of withdrawals, UK Finance confirms that "The total volume of cash machine withdrawals declined by 7% to 2.4 billion", while also observing that other methods of accessing cash, such as debit card cashback and counter services, have also declined.

So, it's a fact that cash usage and cash withdrawals are declining year on year, contrary to what you stated, and none of the articles you quoted actually support your misplaced opinion that cash withdrawals are increasing....

Thanks but I haven't missed it. Just because an overall decline is in place, it doesn't mean that more people aren't withdrawing more. It's a case of countering and balancing. That's what you're missing. I know several people who are saying that they withdraw more now, you hear it in banks that people want cash out. You didn't answer it but there's also the untracked cash sector of the cash economy.

JuicyJesus

20SmthngSver wrote: »

Thanks but I haven't missed it. Just because an overall decline is in place, it doesn't mean that more people aren't withdrawing more. It's a case of countering and balancing.

Unfortunately you are rather missing the point that

1. A lower total of cash withdrawals still meals less cash floating around in aggregate
2. Fewer withdrawals overall does not necessarily imply that the withdrawals are getting bigger
3. You have no evidence

That's what you're missing. I know several people who are saying that they withdraw more now, you hear it in banks that people want cash out.

I'm not surprised that if you go to a bank branch you'll run into people wanting cash. Similar to how if you go to Sainsbury's you'll bump into a lot of people who want food.

You knowing several people who want more cash also does not disprove the point that cash usage in aggregate is falling.

You didn't answer it but there's also the untracked cash sector of the cash economy.

If it's untracked then it's hard bordering upon impossible to quantify by definition so can scarcely be relied upon as evidence of some great resurgence in cash usage.

eskbanker

20SmthngSver wrote: »

Just because an overall decline is in place, it doesn't mean that more people aren't withdrawing more. It's a case of countering and balancing.

You're just playing with semantics now - cash withdrawal volumes are demonstrably decreasing, as a matter of fact. I repeat, what actual support do you offer for your opinion that more people are withdrawing more?

20SmthngSver wrote: »

I know several people who are saying that they withdraw more now, you hear it in banks that people want cash out.

Ah, so your opinion is just based on anecdotal evidence from a tiny sample?

20SmthngSver wrote: »

You didn't answer it but there's also the untracked cash sector of the cash economy.

No need to consider this, as it isn't relevant to the discussion about your assertion of an alleged increase in cash withdrawals....

20SmthngSver

JuicyJesus wrote: »

I know that card terminals charge. Meanwhile your bank account will charge you to pay in cash, usually around 1.5% of any amount deposited, possibly more, and with cheques costing you too. But then, you are of course aware that taking cards will by and large get you more business as it becomes easier to pay you.



Then that still seems odd to me, but is a bit more understandable if you're doing purely B2B. In retail, people would walk away.



So all of those businesses who do take cards for sums under £30 are doing it wrong? Must go and tell some of the local independent coffee shops who are doing a thriving trade on a string of £3 card payments.

I actually can't think of any businesses that actively entirely refuse card payments around here, bar a couple of chippies, and a couple that won't accept them for under £5. The vast majority will take cards for any amount.



Not really a silly reliance is it, any more than relying on getting cash out and it being "gone when it's gone" is silly. I don't do that personally but I can at least understand it and don't think people are silly for doing so.

You just seem determined to look down on anyone who doesn't live a cash-based lifestyle, which to be honest I think is more of a consideration to you than any business decisions.



I mean if you want cash out and the ATM is outside and it's raining... but then, I can use cards and exclude the possibility entirely.

Nope, wrong. Not all banks charge cash deposit fees. Depends on who you bank with and what plan you're on.

You'll find a lot of smaller and independent shops still don't take card under certain values. I think you'll find that the multi-national chains are thriving because they are multi-national and are generating enough profits not to be hit by card fees. The barbers I go to is cash only and won't install a card machine. Why? Because it will cost them to do so and they'd be worse off. But people in this thread don't really seem to get that because they work for a business, they don't run one.

Nothing silly about withdrawing cash and when it's gone it's gone. You physically can't use what isn't in your pocket. A card, despite all the notifications on your phone, is still there and can still be used.

Absolutely not. I haven't said at all that people can't do what they like. In fact, I said above to someone else that I hadn't said he can't do what works for him, but he's saying he won't do X, Y or Z. It's actually two or three of you saying that of me! I just think living your life on a card is not that sensible. I haven't said you can't. One person above said he'd walk out of somewhere that wouldn't take Apple Pay, I mean come on. :rotfl:

roddydogs

Car parking - all the ones I've been to charge more even for a debit card, dont know how as this contradicts the rule that you cant charge more.

20SmthngSver

eskbanker wrote: »

You're just playing with semantics now - cash withdrawal volumes are demonstrably decreasing, as a matter of fact. I repeat, what actual support do you offer for your opinion that more people are withdrawing more?

Ah, so your opinion is just based on anecdotal evidence from a tiny sample?

No need to consider this, as it isn't relevant to the discussion about your assertion of an alleged increase in cash withdrawals....

No need for me to consider what you say if you can't consider what I say then! You can rubbish what I say, but I know what I see. It's called conversation and if you can't engage in it then don't reply.

20SmthngSver

roddydogs wrote: »

Car parking - all the ones I've been to charge more even for a debit card, dont know how as this contradicts the rule that you cant charge more.

Most probably because it's worded as an 'Admin' or 'Service' fee, not a 'Card' fee.

Like if you buy cinema tickets online, you'll pay up to 70p per ticket/person to buy the tickets, sometimes as much as 10% of the ticket price, when it doesn't cost the cinema 10% in card fees and they don't charge by card inside the cinema. Profit stream.

Only a Business accepting a payment made on a Business Debit/Card is allowed to charge a fee, and even then it's only supposed to cover the cost, typically 2-5%.

eskbanker

20SmthngSver wrote: »

No need for me to consider what you say if you can't consider what I say then! You can rubbish what I say, but I know what I see. It's called conversation and if you can't engage in it then don't reply.

I'm just pointing out that the facts don't support what you see, so your own personal experience clearly isn't representative of what's going on in the country as a whole.

That's fine of course, it doesn't make your personal observations invalid, if you express them along the lines that you're seeing more people withdrawing cash in your local area/circle, but it's obviously inappropriate to try to present them as universal fact ("More people are withdrawing cash weekly").

MizzPenniless

I usually pay amounts under £5 in cash, though one shop I use (a 'local' shop which is part of a large supermarket chain) has self service machines which take card only. I've used these for amounts as low as 70p, rather than stand at the counter and wait for a member of staff to serve me. If there are charges for paying by card, the shop is probably working on the basis that they amount they save on staff wages is greater than the card charges.