Millions of people would struggle if the UK became completely cashless, report finds

Ergates

jon81uk said:

Only place I need to use cash is the barbershop.
Far more places (including car park machines) that insist on card only nowadays. I expect for most car park machines the risk of theft of the cash is quite high.

We only have it for the window cleaners (who could easily switch to DD), the Chinese takeaway in the next village (who could easily set up a card payment system) and the barbers (who could also easily set up a card payment system).

Ergates

LateNightHunter said:

Mainly hairdressers and takeaways are cash only round here

But there is no logical reason they have to be.

Sea_Shell

I wonder what "currency" the black market of "cash in hand" would turn to?

If making a sale on FB, I'd happily take payment in the form of Prosecco 😉


How many bottles of spirits = a new driveway 🤔😉

Daliah

Ergates said:

jon81uk said:

Only place I need to use cash is the barbershop.
Far more places (including car park machines) that insist on card only nowadays. I expect for most car park machines the risk of theft of the cash is quite high.

We only have it for the window cleaners (who could easily switch to DD), the Chinese takeaway in the next village (who could easily set up a card payment system) and the barbers (who could also easily set up a card payment system).

The irony is that, bottom line, it would be cheaper for them to handle their payments electronically.

Mind you, they would have less room for "forgetting" some of their income when it comes to paying tax and NI.

MattMattMattUK

I very much doubt they would, people would adapt, just as they always have, which is why the human species is so successful. 

Most people I know are almost entirely cashless, personally I have not used any cash for three years now and I hope I never have to again.

Rob5342

Ergates said:

LateNightHunter said:

Mainly hairdressers and takeaways are cash only round here

But there is no logical reason they have to be.

There is a logical reason - it means they can keep some of it off the books and avoid paying tax on it. The only thing we use cash for normally is to pay the window cleaner, and he is quite open that it's to avoid tax.

Ergates

Ergates said:

jon81uk said:

Only place I need to use cash is the barbershop.
Far more places (including car park machines) that insist on card only nowadays. I expect for most car park machines the risk of theft of the cash is quite high.

We only have it for the window cleaners (who could easily switch to DD), the Chinese takeaway in the next village (who could easily set up a card payment system) and the barbers (who could also easily set up a card payment system).

The irony is that, bottom line, it would be cheaper for them to handle their payments electronically.

Mind you, they would have less room for "forgetting" some of their income when it comes to paying tax and NI.

Money laundering from drug dealers is another favourate - it's how a lot of those £3 car wash places stay in "business".

MattMattMattUK

Ergates said:

Ergates said:

jon81uk said:

Only place I need to use cash is the barbershop.
Far more places (including car park machines) that insist on card only nowadays. I expect for most car park machines the risk of theft of the cash is quite high.

We only have it for the window cleaners (who could easily switch to DD), the Chinese takeaway in the next village (who could easily set up a card payment system) and the barbers (who could also easily set up a card payment system).

The irony is that, bottom line, it would be cheaper for them to handle their payments electronically.

Mind you, they would have less room for "forgetting" some of their income when it comes to paying tax and NI.

Money laundering from drug dealers is another favourate - it's how a lot of those £3 car wash places stay in "business".

It is why the FOBTs were so popular, over a large amount of money you can be fairly sure of your returns (90-94%, with the odds being fixed, so the criminals could work out a laundering cost, then get their nice clean cheque or bank payment from the bookies once they had laundered the money. 

Ergates

MattMattMattUK said:

Ergates said:

Ergates said:

jon81uk said:

Only place I need to use cash is the barbershop.
Far more places (including car park machines) that insist on card only nowadays. I expect for most car park machines the risk of theft of the cash is quite high.

We only have it for the window cleaners (who could easily switch to DD), the Chinese takeaway in the next village (who could easily set up a card payment system) and the barbers (who could also easily set up a card payment system).

The irony is that, bottom line, it would be cheaper for them to handle their payments electronically.

Mind you, they would have less room for "forgetting" some of their income when it comes to paying tax and NI.

Money laundering from drug dealers is another favourate - it's how a lot of those £3 car wash places stay in "business".

It is why the FOBTs were so popular, over a large amount of money you can be fairly sure of your returns (90-94%, with the odds being fixed, so the criminals could work out a laundering cost, then get their nice clean cheque or bank payment from the bookies once they had laundered the money. 

I wonder how much of the profits of Ladbrooks etc *don't* come from either money laundering or gambling addicts...

daveyjp

Survey undertaken by cash machine provider finds people will always need cash.  Funny that.