Feed into MPs' inquiry - share your views on society becoming more 'cashless' with Coronavirus

CKhalvashi

Jeremy535897 said:

jon81uk said:

Jeremy535897 said:

If we are obliged to use cards, it won't be long before we are all paying a fee for every transaction.

EU law means retailers can't pass the fees on.

But for the retailer it can often be more expensive to get the insurances to cover cash and to pay the cash handling fee with their bank. Many places prefer not taking cash as there it is cheaper for them and less to go missing or get stolen.

EU law won't matter soon.

That's not strictly true.

The EU law has been placed firmly into British law, so it would be up to Parliament to allow retailers to introduce charges.

Honestly, I can't see that happening, so despite the fact that it's law originating from the EU, it is very much British law.

Jeremy535897

It's not retailers introducing charges that is the risk. It's banks.

MattMattMattUK

Jeremy535897 said:

It's not retailers introducing charges that is the risk. It's banks.

I do not have an issue with that, I would be far happier with transparent costs and fees for banking services. In many ways it is odd that despite conducting dozens of transactions a month and moving ten thousand through the account every month the only money the bank nominally makes from me is the interest on my mortgage, which has an interest rate that is roughly the same as inflation. 

Former_MSE_Thiri

Thanks again for all your contributions! Did you all see MSE Naomi's story today on the Government's proposals to allow shops to offer consumers cashback, even if they aren't buying anything? Do you think you'd use this method to get cash?

Jeremy535897

As you used to do at supermarkets etc, up to £50. I used to do that.

MoneySeeker1

That much is a good idea - ie to allow us to get cashback without making purchases.

Cashback is the way I get most of my cash anyway - being one of the (numerous) people that doesn't have a branch of my bank anywhere near me these days. Add that it's easy to just get some cash whilst I'm in the supermarket doing my shopping anyway - rather than a special trip to a Post Office (which is the other way I have to go about getting cash).

So it would help not to have to make a purchase to get my cash - though I'm well into making very small nominal purchases, if need be, to get my cash I require.

What would be more useful actually is if cornershops and the like had to give cashback - I've lost count of the number of mini shops I've asked for cashback and been told they don't do it (even for those of us spending some money there anyway).

Tammykitty

• What are your attitudes to cash? - Cash is good, Cards are also good - but technology fails, cash is necessary to fall back on. I live in a rural area - and on occasion the electricity has gone out - the local pub can still trade, the shops can still trade etc. If people want to use cards that is fine, but they are more open to fraud. If you lose your card, you have to wait for replacement in the post - you can use cash in the meantime...
• Have your attitudes to cash changed over the last 10 years? If so, why? No - other than becoming worried about society being cashless
• Have your attitudes to cash changed in light of Coronavirus? If so, why? - No
• Have you been negatively affected by society becoming more ‘cashless’? If so, why? Yes, i have family members that suffer from gambling addictions - they use cash to manage this, and have been succesfully managing their addiction, by going into a bank every week when they need money, they do not want 24/7 access to money.

Other points

Cashless Society:
The poor are more vulnerable, it is often the poor that use cash to manage money and budget, and for car boot sales, 2nd hand sales etc.
Places with a poor internet signal, poor wifi etc will have difficulty with cashless society
Charity impact - no change for collections
Immigrants - Not able to get bank accounts and therefore even more excluded from society
Foreign Currency Fees - especially in border areas

One-Eye

RE: Shoppers to be able to get cashback without buying anything under new proposals

from Naomi Schraer's article:
While many people rely on their debit or credit cards, or mobile wallets to pay, many others, including those who are elderly or vulnerable, continue to rely on cash.

So people who do not use cards should be able to take their (non-existent) card into a shop and get cashback?
Is it the Treasury's proposal or the article that is a load of codswallop?

Aranyani

MoneySeeker1 said:

That much is a good idea - ie to allow us to get cashback without making purchases.

Cashback is the way I get most of my cash anyway - being one of the (numerous) people that doesn't have a branch of my bank anywhere near me these days. Add that it's easy to just get some cash whilst I'm in the supermarket doing my shopping anyway - rather than a special trip to a Post Office (which is the other way I have to go about getting cash).

You don't use cash machines/ATMs?

phillw

One-Eye said:

So people who do not use cards should be able to take their (non-existent) card into a shop and get cashback?
Is it the Treasury's proposal or the article that is a load of codswallop?

Talking about sterling is like talking about the NHS, it disengages peoples minds and make them more easy to manipulate. Bonus points if you can blame the EU.
Someone will have paid the conservatives a stash of money to help them close banks and take ATM out of service, they come up with a cover story so that people will buy it.
But getting cash back is not a good replacement for an ATM, because you can't change your PIN or unlock the PIN in a store. You also can't pay money in at the checkout when some inconsiderate person has lumbered you with cash.