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Going Cash

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  • 400ixl
    400ixl Posts: 2,784 Forumite
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    Only use cash if i absolutely have to. Worst part about cash is notes turn into coins and they are just a pain to have to deal with.

    People talk about using cash means you can't spend more than you have withdrawn. Modern bank accounts can do similar with pots of money. It will become more common for those pots to have individual payment methods, effectively doing the same thing.

    Finding placing stating cash only is far more of a headache than those saying card only.

    As for comments like it will be the end of car boots etc, no it won't. We will adapt, phones can already be used as contactless readers, banks would just support this and digital wallets would mature to have offline features as well.

    As for negative interest rates, cashless or cash makes no difference unless you are going to keep all of your maney stuffed in the mattress.

    There needs to be some protection for those who must use cash, but otherwise do everything possible to mature technology so that it not needed.

    Sweden as going to be a model for protection as they are on that limit of cashless society.
  • elsien
    elsien Posts: 32,689 Forumite
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    edited 8 January at 12:38AM
    I’ve been in a few small cafés lately with signs up, saying they would much prefer you to pay in cash because of the transaction fees. 
    And the Chinese takeaways around here are cash only – they won’t accept a card.

    I do use cards for some things, but app pots don’t work for me. I’m happy with my old-fashioned envelope system. 
    The last time I tried to give to a charity in a supermarket I ended up donating  more than I wanted to because of faffing around with their  reader, which was set up with a higher minimum than I realised. Wouldn’t have happened if I l’d just shoved my pound in the collection box. 
    All shall be well, and all shall be well, and all manner of things shall be well.

    Pedant alert - it's could have, not could of.
  • Cloth_of_Gold
    Cloth_of_Gold Posts: 854 Forumite
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    One problem is that if a retailer's card machine isn't working (such as if their internet goes down) and they only take cash they can't sell you anything. This has happened to me a few times.
  • JIL
    JIL Posts: 8,687 Forumite
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    njkmr said:
    credit card for most things these days. Pay off at end of month. I sometimes have a tenner in my phone wallet but it can be there for weeks on end. Cant remember last time i went to a hole in the wall for cash withdrawal.
    That's me and the husband. Everything on the credit card, paid off on payday. I can tell exactly how much we have spent in a given period on clothes, going out, food, fuel, car service etc.
    Works for us.


    I actually have a cash box in the house with £400 in it. I top it up in January. I use it for office collections, or putting cash into neices/nephews birthday cards or another adhoc expense. Its paying for the dog groom tomorrow, because its cash only.

    I also have a small tin in the car with lots of pound coins (its hidden) this pays for car parking, shopping trolleys and coffees and icecream whilst out. 
  • weenancyinAmerica
    weenancyinAmerica Posts: 1,229 Forumite
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    I wonder if Aldi's shopping carts will be programmed to take your credit card payment and maybe return part of it (transaction fee?). And I assume that those who don't use cash would never give to the homeless or to Salvation Army buckets here. I can't do that. It is just built in. I have to donate to the Salvation Army kettles and they don't take credit cards. I know I can give to the Salvation Army by donation online, but I never have that much money to make it viable. I am on a limited income and $1 or $2 is my limit. Doesn't feel right for an on-line donation somehow. And some of us live on swap meets (boot sales), yard sales (individual swap meets) and charity shops. So I guess the poor of the nation will just lose out again. We always do.  
  • bouicca21
    bouicca21 Posts: 6,512 Forumite
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    edited 8 January at 9:56AM
    If I buy coffee out it’s because I’m with friends or on a leisure ride with a bunch of other cyclists, and it will be in a small independent cafe. I don’t think any of them now take cash, despite the transaction fees as they save time by not having to balance up the till, and are less likely to get burgled as there is no cash on the premises.  Much more irritating is that all our local car parks are now cashless and depending on who owns them, you need a different app.

    @weenancyinAmerica the mainstream charities seem to be able to cope with cashless. What worries me is the fate of beggars. I carry an emergency tenner but no longer have a pocket full of change to give away. I’ve ramped up my charity donations but that doesn’t stop me from feeling guilty about not giving actual cash to someone on the streets.
  • YorksLass
    YorksLass Posts: 1,708 Forumite
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    For convenience, all our main bills are paid by Direct Debit - it's easier and quicker than traipsing around to different places.  Most councils and utilities want this type of payment anyway and sometimes charge more if you don't use DD.  

    I use my credit card for some planned purchases (e.g. large supermarket shop) that are budgeted for and pay it off in full each month. 

    I also have a monthly pot for small cash purchases and use the envelope system for these. 

    During lock-down I did use my debit card as a chip & pin payment in shops on the odd occasion when necessary, but wasn't a fan.

    I don't have a smart phone so can't pay by that method, nor would I want to as it's too easy to overspend, especially on small purchases.

    Whilst never using cash may work for some, it doesn't for everyone and I think there's room for both.  If a shop insists on one or the other, I personally wouldn't shop there and would be quite prepared to walk out and shop elsewhere.
    Be kind to others and to yourself too.
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