Anyone else still pay by cash?

Nasqueron

https://forums.moneysavingexpert.com/discussion/comment/82012243#Comment_82012243

Ironically, the fees for cash are higher than card payments. Businesses see the up front fee of a card but not the numerous "hidden" fees from things like fees to deposit cash in the bank/take out float cash, the security needed like safes, cctv, tools to check validity of notes, the risks of theft, staff dishonesty, all the owner's time to cash up at the end of the day. Probably other costs as well I didn't think of.

subjecttocontract

I usually have £100 in my wallet, I keep £200 in the safe, I keep £10 in change in each of our cars for parking. My other half is sight impaired & uses contactless mostly.

molerat

Two businesses I regularly use stopped taking cash in the plague, a one man small shop and a large garden centre, and have not gone back. Both say it has made life much easier. The garden centre has a cafe which is always full of "oldies" so despite the assertion of some that the older generation are cash only that seems not to be the case.

molerat

https://forums.moneysavingexpert.com/discussion/comment/82012284#Comment_82012284

I am surprised a lot of large shops have not gone cashless - maybe the bad press from the dinosaurs has put them off - as the costs for banking and transporting cash takings and providing change can be horrendous. I was shocked when I saw it on a balance sheet for single store, multiply that over several hundred - Securicor don't provide their services free, as well as the staff time in cashing up and investigating discrepancies, something you rarely get with an integrated card system.

penners324

I find it's the other way round. I spend less when paying by card. Because I constantly check my bank app.

If it's cash it just gets friterred away

penners324

https://forums.moneysavingexpert.com/discussion/comment/82012243#Comment_82012243

It costs small business more to deal with cash.

And far more chanve of them being robbed before they can bank it

penners324

I doubt that very much

Jemma01

Not even sure i still remember how to use an ATM 🤣

queline

I guess I’m one of those ‘oldies’ being referred to, I am retired, I have an iPhone, a computer, an iPad and do lots of shopping online including groceries. I occasionally use ApplePay on my phone but only for online orders. I do have my cards in my phone wallet but so far have not paid that way. I also keep emergency cash in my purse - 1 x£5, 1 x £10 1 x 20, in case I buy something from a shop that is cash only, I live near a town which has several businesses that only take cash. I support them because they are individual businesses and need to keep going. My husband (also retired) and I withdraw an amount of cash every month for our ‘coffee money’ as we usually go out for coffee once a week, and one of our favourites in the same town only takes cash. When that amount is gone, we have to wait until the next month, or quite often there is some left, so that goes in a ‘lunch fund’.
Change is handy to have for leaving tips too, although more businesses are giving you the option to add it on the card machine, when paying, such as my hair salon.
I also find that although they will accept cash, some coffee shops/tea rooms don’t have enough change so I end up using my card anyway.
My son rarely uses card payments as he prefers to withdraw cash and use that as much as he can, for budgeting purposes, as he is paid fortnightly. He doesn’t have a smart phone either. He buys things on EBay though, using my account, and pays me back by bank transfer.
Incidentally, I have my normal current account card, and two credit cards, both paid in full every month. I also use parking apps rather than scrabbling around for change but I believe you pay more through a parking app?

Rob5342

https://forums.moneysavingexpert.com/discussion/comment/82012284#Comment_82012284

I suppose it depends what they use the cash for, if they use it to pay their suppliers or staff in cash then they won't incur as many bank charges. It's quite convenient that it keeps it off the books too.

They will miss out on sales too as the amount of money people spend will depend on how much cash they are carrying. I went to a small theatre last year and they only took cash for the programmes, loads of people wanted one but not enough to go to the cash machine 20 minutes walk away.