Anyone else still pay by cash?

oldernonethewiser

https://forums.moneysavingexpert.com/discussion/comment/82023492#Comment_82023492

I haven't had to use a parking app…..yet.

Currently don't have one on my phone.

Middle_of_the_Road

https://forums.moneysavingexpert.com/discussion/6669821/anyone-else-still-pay-by-cash

Yes. I would guess millions of people still pay by cash. You're not going to see bank notes disappearing any time soon.

subjecttocontract

Using cash is dependant on your lifestyle. If you never deal with anywhere or anybody that requires payment in cash you are never going to need any. But, the black market, the criminal underworld and various legit and non legit places do still require payment in cash. That way there is no paper trail to trip people up. Anyway, I quite like the new coins showing King Chas.

HillStreetBlues

https://forums.moneysavingexpert.com/discussion/comment/82023591#Comment_82023591

I bow to your expert experience 😁

dcs34

https://forums.moneysavingexpert.com/discussion/comment/82023492#Comment_82023492

Having had that experience in Enfield (in an emergency!) I have somehow managed to convince the council that not stating this is misleading and they're going to reprint all the noticeboards at their car parks to point this out(!)

Yorkie1

https://forums.moneysavingexpert.com/discussion/comment/82023492#Comment_82023492

Ours is 15p (and does state it on the boards). No charge for using a card, if that is available at the machine. Paid by cash myself yesterday. I resent having to pay extra for the council's convenience (I realise they will have to pay to have the app, but not as much as having to employ someone to empty the cash from the machines.

Section62

https://forums.moneysavingexpert.com/discussion/comment/82025201#Comment_82025201

I realise they will have to pay to have the app, but not as much as having to employ someone to empty the cash from the machines

Not sure how it works now, but some of the early adopter councils were getting paid by the pay-by-phone operators because the profit from the 'convenience fee' (and getting as much market share as possible) were the main objectives.

Vandalism and theft from the machines was a bigger cost than employing someone to empty them - a project I worked on showed that many machines in the council's area were costing more in repairs than they were taking, it would have been cheaper for the council to scrap the machines and offer free limited-time parking instead.

Caddyman

Yes, folks often forget that the parking machine full of cash is nothing more than a target for theft and vandalism. Plus the danger involved for the poor souls being employed to empty them getting held up assaulted and robbed in the process. Not forgetting the overall cost to the Councils of dealing with cash banking.

And for the people that hoard wads of cash at home, and there are undoubtedly plenty that do, if they get burgled, they get nothing back. The maximum cash limit refunded by insurers, is really quite low. Let's face it, if you're stupid enough to be hiding £20k under your mattress and you get robbed, you've got soooo many questions to answer to the likes of the police and your insurance company, if you're stupid enough to tell them that is, because you've then got to explain how you mangaged to acquire so much money in the first place. HMRC would be chomping at the bit! A bit like bank safety deposit boxes that are robbed and some of the more mysterious owners lose everything but can't report it because it's been obtained by ill gotten gains. That's pure Karma.

Section62

https://forums.moneysavingexpert.com/discussion/comment/82025252#Comment_82025252

Yes, folks often forget that the parking machine full of cash is nothing more than a target for theft and vandalism. Plus the danger involved for the poor souls being employed to empty them getting held up assaulted and robbed in the process.

Some of the vandalism wasn't about the money, people generally don't like paying for parking and the machines were vulnerable - if they were out of action due to damage people could park for free.

The theft of money was generally limited to certain specific areas, "full of cash" often equated to less than £10, so it wasn't people wanting to get rich, more people after enough for their next hit. There was an element of the use to which they were putting the stolen money meant they lacked the commen sense to avoid raiding the machines that were infrequently used.

Although at one time the cash was collected by parking attendants doing their rounds, in some urban areas there was a switch to using CIT professionals.

Not forgetting the overall cost to the Councils of dealing with cash banking.

The costs aren't necessarily as massive as might be thought. If the council needs to operate a cash-handling service then there is a minimum workforce needed to do that. A CIT vehicle needs to be double-manned. Sorting and counting was a two-person job for anti-fraud reasons. Switching to cashless parking reduced the workload for the cash handling team which equated to increased costs for the services that continued to use it. Actual cost savings only come if you can get rid of vehicles and staff.

Let's face it, if you're stupid enough to be hiding £20k under your mattress and you get robbed, you've got soooo many questions to answer to the likes of the police and your insurance company, if you're stupid enough to tell them that is, because you've then got to explain how you mangaged to acquire so much money in the first place.

There's nothing illegal about having £20k at home. And if the money wasn't illegally obtained - for example you withdraw £100 from your weekly wages - then explaining it wouldn't be difficult. The problem would be convincing the insurance company that you had £20k at home and aren't making a fraudulent claim.

Caddyman

I'm perfectly aware that there's nothing illegal about hoarding wads of cash at home, but if one is burgled and the cash is never recovered, supplying proof to your insurer that you ever had the amount in the first place, may well be a challenge. What is one going to do? Withdraw that £100 a week, stuff it in their 'safe space' at home, photograph it weekly so it can be provided as 'proof' to the insurer? Of course, that isn't going to happen, ever.

Any insurance company would rightly question why anyone would keep an insane amount of cash at home in the first place. Let's not forget, it's a homeowners responsibility to declare the value of goods at their address at each insurance renewal. I wonder how many home cash hoarders who are stuffing money away declare the amounts to their insurers on a regular basis? I would suggest none, because then any insurer worth their salt would just refuse to insure significant amounts of money held at home on the basis that it's safer in a bank. Unless of course said home owner is prepared to install appropriate security and it is inspected by the insurer as suitable.