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Where to keep your card?
Comments
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Just turn it over and/or ensure the right point on the machine is touched, the contactless limit is only a couple of mm so possible the case will block it but the front won't be covered
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Tax avoiders and illegal charges for cards (and no doubt based on the false notion that cards are more expensive - what a muppet losing money by taking cash!)
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Phone only, wallet occasionally when out for a while as it has ID in it or as an emergency when I might be stuck if phone died
Don't carry cash, haven't even since before covid, anywhere I go or buy I used card for cashback and I inherently distrust any business pushing for cash as tax evasion costs the country a fortune in lost revenue
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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I think the establishments in my high street that take cash only will tell you it's to avoid card fees. Plus, of course there is no requirement, legal or otherwise, to accept card payments. From my experience those asking for cash only always look very, very busy. Many places who do take cards choose to be selective. I find they often don't accept American Express again due to higher card fees.
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They say that yes but either they are lying as they are tax evaders or because they're ignorant of the actual cost of cash and how much higher it is than a fixed card fee
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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On aggregate, it costs more to bank cash than the card processing fee. The deposit fees are usually a bit lower, but once you add in labour costs of handling cash (not to mention the security risks) then it comes out more.
The only real advantage of going cash only is that it is nice and easy to "forget" to declare some of it and it's also nice and easy to accidentally mix in someone else's cash with yours.
Businesses that claim otherwise are lying or incompetent.
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Good old-fashioned leather wallet here as I generally prefer cash when spending small amounts. Several local businesses also indicate they prefer cash, which is reason enough in itself. One debit card for other small purchases, one credit card just in case - both cards also being on my phone but as a backup and rarely used.
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In my view, it's a mix of lying but also ignorance. The "cash is king" types love posting memes about £50 in a local shop stays £50 forever, they often haven't sat down and done the numbers of the hidden costs of cash vs the upfront fee of a card.
Off the top of my head -
Security in store - good safe; CCTV to watch staff and customers and protect the store as criminals know you have untraceable cash; training for conmen and equipment for checking fake notes
Security outside store - taking money to the bank (again criminals know you have it) or paying a security firm.
Delays in available money - most utility providers won't take cash so you need to go to the bank to deposit it so you can pay bills vs a card instantly has the money
Labour costs - doing the numbers and balancing the cash/books, your time to take the money to the bank
Cash banking costs - fees to deposit, fees to withdraw for the float
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Wouldnt most establishments already have many of those examples already in place as customers will want to pay by card or cash ? I'm not aware that any of the places I visit take 'card only'.
Some of the cash only places on my high street are family run businesses so, that probably negates a need for some of your examples. One that springs to mind is a very popular cafe. There is no security inside or outside, staff are family members, the banks are virtually next door, they've been around for at least 5 years so it must be working for them and their customers.
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I keep my cards, phone and emergency cash in a wallet in my pocket and I pay with a Tapster payment ring that's connected to my Curve card
Quick tap of my knuckle on the card reader, job done
Very rarely take my wallet out of my pocket at all now in open public areas
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