Going Cash

IrishRose12

DullGreyGuy said:

Madbat60 said:

I will walk out of premises that say card only.  I refuse to be dictated to by companies.  

Perfectly entitled to vote with your wallet, depending on what you're into though you are certainly still being dictated to by companies. Plenty of things can only be bought from certain shops which are all card only so you can't go buy it elsewhere in cash. 

Certain brands don't allow their products to be sold online, if you go instore and buy in cash you're still following their dictation of having to do that even if you don't realise. 

Personally would rather the grumpy old man counting out his coppers to pay for his beer did just leave instead so those just tapping and going (irrespective of age or mood) can move on and get served quicker. 

I don't know what brands you buy or what shops you shop in but I've yet to shop in a large retailer that refuses cash.. the only minority of businesses that refuse cash are the likes of the pretzel stall in my shopping center.  I have yet to come across any other retailer that will refuse cash.

And if they do, then they don't get my business... very simple.  I will find whatever it is elsewhere or I more than likely won't be needing it that desperately in the 1st place. 

kah22

IrishRose12 said:

weenancyinAmerica said:

I think a person's age has a lot to do with the answers we are getting. Young people seem to only want a card society. Older people are afraid of a card only society. I wonder if a study has been done on how this card society affects charity giving as some of the answers sound like they don't give anything away to others. I see a card only society becoming very self-centered and lacking in empathy and it worries me.

Nothing to do with age.  I'm in my late 30's and will always use cash.  

Most people where I live are also going back to using cash, both young and old. Another 2 shops this week have put signs up in our local area stating they are only accepting cash from now on in.  

Even though I started this thread, I would never say never. 

Also think back to pre-pandemic and how many stores displayed a notice  'minimum spend £5 !' Is it  conceivable that small sole traders in particular will revert to that?

oldernonethewiser

I have got to pay a subscription this week.  Only payable by cheque, which was a bit of a shock to the system.  Managed to find a chequebook for an existing account fortunately.

Unrelated I was looking at my transactions on my Chase account and see that a little Google Map is associated with each one.  Not a Google Map user myself but made me wonder how much info is shared by Chase with Google?

JIL

Choice is key. Everyone has the right to spend and bank on their own terms. I dont think the end of cash is anywhere on the horizon as yet.

So rather than "take sides" just accept we are all individuals.

Do what works for you, but be open to the advantages and disadvantages of using cash/noncash.

Rosa_Damascena

JIL said:

Choice is key. Everyone has the right to spend and bank on their own terms. I dont think the end of cash is anywhere on the horizon as yet.

So rather than "take sides" just accept we are all individuals.

Do what works for you, but be open to the advantages and disadvantages of using cash/noncash.

Even so, I find requests for cash to be irritating. For some reason I find it particularly disturbing when it comes to parking charges.

JIL

Rosa_Damascena said:

JIL said:

Choice is key. Everyone has the right to spend and bank on their own terms. I dont think the end of cash is anywhere on the horizon as yet.

So rather than "take sides" just accept we are all individuals.

Do what works for you, but be open to the advantages and disadvantages of using cash/noncash.

Even so, I find requests for cash to be irritating. For some reason I find it particularly disturbing when it comes to parking charges.

And parking charges are probably the one thing I want to pay for using cash. I hate the use of apps and phones to park. I especially hate that it excludes a lot of the older generation.

PollyWollyDoodle

An ‘older generation’ who probably insure their car online, and renew their car tax online?  Why assume that older people are not technically aware - if they are fit and alert enough to drive, they are probably using smartphones and other technology.  

MattMattMattUK

IrishRose12 said:

MattMattMattUK said:

IrishRose12 said:

weenancyinAmerica said:

I think a person's age has a lot to do with the answers we are getting. Young people seem to only want a card society. Older people are afraid of a card only society. I wonder if a study has been done on how this card society affects charity giving as some of the answers sound like they don't give anything away to others. I see a card only society becoming very self-centered and lacking in empathy and it worries me.

Nothing to do with age.  I'm in my late 30's and will always use cash.  

Most people where I live are also going back to using cash, both young and old. Another 2 shops this week have put signs up in our local area stating they are only accepting cash from now on in.  

That is the exact opposite of anywhere I go as well as the data and reports in the media. Many businesses already card only or moving to card only, hardly anyone of any age using cash anymore. I am a similar age to you, I have not used cash for four years now and in the two years before that I used less than £100 of cash. 

The data also shows that the vast majority of transactions both by volume and value are on card and that is still growing, although some people seem to have an aversion to card payments and are getting quite vocal about their demands to use cash or go elsewhere the businesses response is generally to let them go, cash is just not worth the cost or hassle. 

And that's your opinion.

It is not "my opinion" available data shows both a historical decline, a current decline and a predicted continual decline. 


https://www.bbc.co.uk/news/business-62576024

Although there was a minor uptick in cash usage between 2021 and 2022 there are somewhat unusual factors involved in this and it is not predicted to impact the long term decline, although as the rate of cash uses approaches zero the decline is expected to slow.

https://www.bbc.co.uk/news/business-66796263

IrishRose12 said:

Here where I live.... in what's classed as a "disadvantaged" area, there's very few card or phone payments used in shops, and mostly cash.

Since last year when going to the supermarkets, I watch more and more people use cash.   In tescos, the longest  queues are for the tills that accept cash.
Again, because if the costs of using card machines, WiFi etc our local shops are going back to cash only, 1. Because of the costs. And 2. Because most customers are now using cash again.

We also have a lot of elderly people,  a traditional population in our area and those residents don't use a lot of technology.  They don't have the Internet in their houses let alone know how to use it..... my own parent, elderly family members etc included.  

Our area have many community events throughout the year and it's all cash used.  For the children to pay for ice-cream,  to buying mix-ups at the sweet stall, to paying a pound to go on the bouncy castles etc.
We also gave various fundraising throughout the year for a big community event in August.  So it's cash for the carboot sales, bub sales, jumble sales etc.

None of that invalidates the data.

IrishRose12 said:

I've seen a lot of people talk about donating to charities on here via direct debit.
I don't donate to charities who require bank details.  I'm very careful who has my personal details. 
I also don't line the pockets of people in suits who claim to do this and that forntheir charity when in reality, the charity gets very very little of my donation.
Again, my donations are cash donations only. .. and they go to the local food bank run by volunteers, myself being one of them. My cash donations are used to purchase gas and electric credits for people for example.  Most of my charity donations are actually physical items needed. Be it food, nappies, milk for babies, toys, period products, clothes for the homeless shelters etc.
And items I don't use at home anymore are donated to various charities and shelters.  
That way I am ensuring that my donations are actually going to the people who need them help, and not lining someone's pocket. 

I give donations via GiftAid, so the charity gets an extra 25% on top of my donation, I pick my charities very carefully, I am not "lining someone's pockets", but that largely appears to be an appeal to emotion, not an attempt at rational debate. 

IrishRose12 said:

Now I don't know what "data" you are relying on, but my data is seen with my own eyes and heard from the horses mouth, and what I have learnt myself from experience over the years.

The widely published data, available in both the media in a dumbed down, but easier to digest format, or in data from the BoE, business groups, university research, IFS analysis etc. You seem to think that anecdote trumps analysis and hard data, it does not. 

MattMattMattUK

leftatthetrafficlights said:

MattMattMattUK said:

leftatthetrafficlights said:

MattMattMattUK said:

IrishRose12 said:

weenancyinAmerica said:

I think a person's age has a lot to do with the answers we are getting. Young people seem to only want a card society. Older people are afraid of a card only society. I wonder if a study has been done on how this card society affects charity giving as some of the answers sound like they don't give anything away to others. I see a card only society becoming very self-centered and lacking in empathy and it worries me.

Nothing to do with age.  I'm in my late 30's and will always use cash.  

Most people where I live are also going back to using cash, both young and old. Another 2 shops this week have put signs up in our local area stating they are only accepting cash from now on in.  

That is the exact opposite of anywhere I go as well as the data and reports in the media. Many businesses already card only or moving to card only, hardly anyone of any age using cash anymore. I am a similar age to you, I have not used cash for four years now and in the two years before that I used less than £100 of cash. 

The data also shows that the vast majority of transactions both by volume and value are on card and that is still growing, although some people seem to have an aversion to card payments and are getting quite vocal about their demands to use cash or go elsewhere the businesses response is generally to let them go, cash is just not worth the cost or hassle. 

I've noticed many more people using cash than previously - our local tesco has a couple of cash only self-serve tills and there are regularly queues for those whereas I breeze through the card tills. My dd who is in her thirties has taken to using cash as opposed to card in the past six months or so as have the majority of her friends. Everyone will have different experiences and anecdotal evidence when it comes to this issue and are more than entitled to make a choice about their own methods of spending their money without being accused of irrationality! 

If people are saying that they want to be money saving, then excluding online shopping and any retail operations that do not accept cash then that is contradictory and irrational. Refusing to use digital payments for a bunch of reasons previously listed which do not make sense, such as "not being told what to do", is irrational. 

leftatthetrafficlights said:
I'm confused as to why you feel that accepting cash is more costly to the retailer - I used to own a retail business and having a card machine meant I paid the bank a monthly fee plus a percentage of each transaction; cash was bagged up and deposited for free....definitely preferable for me and my profit margin! 

Banks now charge cash handling fees, change fees, it costs employee time to cash up and visit bank branches, it increases losses (either accidental or through employee dishonesty), it increases insurance costs etc. Larger businesses will use the facilities of cash delivery and collection companies etc.

For card payments a small business will be looking at no monthly fee and around 1.2% transaction fee on a credit card, for debit cards it can be as low as 20p per transaction, large businesses will be paying less than one percent.

Many people find it easier to control their budgets using cash, it doesn't mean that they are not trying to be money saving, it just means that they have set parameters that work for them on their journey. Just because you disagree with their reasoning or principles doesn't make their choices irrational nor does it invalidate them.

Stating that one's aim is to buy items in the most cost effective, cost efficient way possible, then ruling out the vast majority of buying goods and/or services in the most cost effective way is irrational, it is a logical contradiction, one cannot choose both.

leftatthetrafficlights said:
I buy predominantly ethically produced products that cost considerably more than the standard off the shelf equivalents cost and boycott certain producers - that doesn't mean that I'm not money saving or irrational, 

But yours is a different statement, you are not saying "I want to buy the cheapest product", you are saying "I want to buy the cheapest ethical* product", at the cheapest price, therefore your statement is not contradictory. 

leftatthetrafficlights said:
my journey. 

.

leftatthetrafficlights said:

From having a quick mooch on the internet, the average bank cash handling charge is around 50p per £100 deposited - so while I acknowledge that things have changed since I owned my business, I would disagree that it's more expensive for a small business to accept cash - 

That is deposit fees, there also change fees, usually with a percentage and a per bag charge, it raises insurance, in some cases significantly, one pub I frequent on occasion was explaining that the main reason they went cashless (more than 90% of transactions were already card) was that the costs of their insurance was around £1,800 a year cheaper if they stopped handling cash. It also reduces the time needed to cash up, the time needed to go to and from the bank, it reduces losses from either error or employee dishonesty. 

leftatthetrafficlights said:
depending on the types of goods sold, 20p per transaction would certainly have a negative impact on profits.

Cost wise SumUp, which I see a lot with smaller traders offer 1.49% and no transaction fee with no monthly cost, or 0.79% with no transaction fee and a £19 month subscription fee. Having looked again the 20-25p minimum charges only seem to apply to online transactions (that applies to what my business pays), in person fees have no transaction fee associated with them. Other card processors seem to charge similar amounts. 

MattMattMattUK

IrishRose12 said:

DullGreyGuy said:

Madbat60 said:

I will walk out of premises that say card only.  I refuse to be dictated to by companies.  

Perfectly entitled to vote with your wallet, depending on what you're into though you are certainly still being dictated to by companies. Plenty of things can only be bought from certain shops which are all card only so you can't go buy it elsewhere in cash. 

Certain brands don't allow their products to be sold online, if you go instore and buy in cash you're still following their dictation of having to do that even if you don't realise. 

Personally would rather the grumpy old man counting out his coppers to pay for his beer did just leave instead so those just tapping and going (irrespective of age or mood) can move on and get served quicker. 

I don't know what brands you buy or what shops you shop in but I've yet to shop in a large retailer that refuses cash.. the only minority of businesses that refuse cash are the likes of the pretzel stall in my shopping center.  I have yet to come across any other retailer that will refuse cash.

And if they do, then they don't get my business... very simple.  I will find whatever it is elsewhere or I more than likely won't be needing it that desperately in the 1st place. 

Multiple pubs in the town I live in and the surrounding towns and villages, quite a few restaurants and coffee shops, many of the smaller boutique and independent shops have gone cashless, though most of those are homewares, etc. I am not sure any supermarket type places have gone cashless yet.