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  • FIRST POST
    • MSE Karl
    • By MSE Karl 13th Mar 18, 10:39 AM
    • 68Posts
    • 21Thanks
    MSE Karl
    MSE Poll: How often do you use cash?
    • #1
    • 13th Mar 18, 10:39 AM
    MSE Poll: How often do you use cash? 13th Mar 18 at 10:39 AM
    Poll started 6 March 2018

    Are you part of the cashless society? How often do you use cash?


    For some, the days of pockets stuffed with cash are long gone. Contactless cards especially have meant now even small transactions can just be done with a ‘beep’. So we wanted to test how cashless our society is now, and who’s using it.

    Please tell us which option is NEAREST to your situation.


    Did you vote? Are you surprised at the results so far? Have your say below. To see the results from last time, click here.

    If you haven’t already, join the forum to reply.

    Thanks!


    This Forum tip was included in MoneySavingExpert.com's weekly email!
Page 1
    • telemarks
    • By telemarks 13th Mar 18, 12:15 PM
    • 161 Posts
    • 115 Thanks
    telemarks
    • #2
    • 13th Mar 18, 12:15 PM
    • #2
    • 13th Mar 18, 12:15 PM
    I use cash for small transactions out of habit, as in the past small cheques or card transactions were often banned in some places, and as all places were different, I never wanted to risk it.

    However this poll has got me thinking, these days with all my cards contactless, I guess cashless is possible and maybe I should give it a try?
    • aj23
    • By aj23 13th Mar 18, 10:54 PM
    • 420 Posts
    • 152 Thanks
    aj23
    • #3
    • 13th Mar 18, 10:54 PM
    • #3
    • 13th Mar 18, 10:54 PM
    Too many snowflakes getting sucked into the Contactless/virtual debit cards on their mobile phones. and playing into big brother tracking your every move and spending habits. It's doing so many people out of jobs.

    Why you'd just want to tap your way through buying things I just don't know.

    And I'm 25.

    By the way, there's more cash being drawn out in branches than ever before, and more cash in circulation globally than ever before. Plus, the chief of the Bank of England (who's signature is on pretty much every banknote) said she doesn't trust Contactless payments; Contactless fraud has overtaken cheque fraud for the first time too.
    • Jack06019
    • By Jack06019 14th Mar 18, 8:04 AM
    • 11 Posts
    • 3 Thanks
    Jack06019
    • #4
    • 14th Mar 18, 8:04 AM
    • #4
    • 14th Mar 18, 8:04 AM
    Depressing. Few seem to see past cashless as "it's so convenient" - and they don't realise that it is the presence of cash in the economy that prevents negative interest rates. I don't want to be paying my bank for the money held in my bank account - which is what will happen with negative interest rates once cash is abolished - so I use cash for almost every transaction that I make as my small protest. MSE seems to be keen on promoting cashless use from various posts that I've seen, but with no discussion of the many pitfalls.
    Last edited by Jack06019; 14-03-2018 at 8:06 AM.
    • Wizard of Id
    • By Wizard of Id 14th Mar 18, 8:48 AM
    • 3,713 Posts
    • 14,077 Thanks
    Wizard of Id
    • #5
    • 14th Mar 18, 8:48 AM
    • #5
    • 14th Mar 18, 8:48 AM
    I use cash all the time for daily purchases, I rarely use my debit card, never use contactless payments and only use my credit card for larger purchases. All other payment methods are non-existant as far as I'm concerned.
    Every man is innocent until proven broke.
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    • MrOrdinary
    • By MrOrdinary 14th Mar 18, 9:02 AM
    • 1 Posts
    • 1 Thanks
    MrOrdinary
    • #6
    • 14th Mar 18, 9:02 AM
    Cash is safer
    • #6
    • 14th Mar 18, 9:02 AM
    For personal safety I try to only walk around with what I am prepared to lose. My debit card is precious, and a real pain to lose. So I only carry it when going to get cash -- and I make sure I am doing little else except getting cash so as to avoid trouble.
    Once I have the cash, I can separate it into various pockets etc and while buying only open one pocket. This usually defeats the pick pockets.
    I have lived abroad. The Swiss are finance experts. They unfortunately, at great current inconvenience, got rid of cheques. But one thing they have right -- they kept their cash. They even have 100, 500, and 1000 Franc notes, which are so easy to handle and so easy to conceal. I once needed to carry 2500 pounds between countries. I had all the documentation for it and it is the documentation, not the note size, which works against the illegal. All I could get was 50 pound notes -- 50 of them, and concealing them was near impossible on a hot summer day. So much easier to use 5 notes of 500. We need more cash, and bigger denominations.
    • aj23
    • By aj23 14th Mar 18, 9:58 AM
    • 420 Posts
    • 152 Thanks
    aj23
    • #7
    • 14th Mar 18, 9:58 AM
    • #7
    • 14th Mar 18, 9:58 AM
    Depressing. Few seem to see past cashless as "it's so convenient" - and they don't realise that it is the presence of cash in the economy that prevents negative interest rates. I don't want to be paying my bank for the money held in my bank account - which is what will happen with negative interest rates once cash is abolished - so I use cash for almost every transaction that I make as my small protest. MSE seems to be keen on promoting cashless use from various posts that I've seen, but with no discussion of the many pitfalls.
    Originally posted by Jack06019
    The poll they did on cheque usage in September last year show that 75% of the 15,000 people who voted in have used cheques, ranging from rarely to regularly, in the last three years, yet the website pushes a 'cheques are annoying' agenda. There was a new savings account they listed and their blurb on it said 'Annoyingly it can only be opened by cheque'. I presented them with the breakdown of their own poll, and they eventually removed the word 'annoyingly' as I proved with their own findings that people do not find it annoying.

    This is a great directory for people to use, but MSE is clearly being paid to push certain things. They are pushing for First Direct all the time, so they clearly benefit financially from pushing certain agendas.
    • aj23
    • By aj23 14th Mar 18, 9:59 AM
    • 420 Posts
    • 152 Thanks
    aj23
    • #8
    • 14th Mar 18, 9:59 AM
    • #8
    • 14th Mar 18, 9:59 AM
    I use cash all the time for daily purchases, I rarely use my debit card, never use contactless payments and only use my credit card for larger purchases. All other payment methods are non-existant as far as I'm concerned.
    Originally posted by Wizard of Id
    Same here. But I use cheques wherever I can. I don't trust Contactless or Mobile/Online.
    • aj23
    • By aj23 14th Mar 18, 10:00 AM
    • 420 Posts
    • 152 Thanks
    aj23
    • #9
    • 14th Mar 18, 10:00 AM
    • #9
    • 14th Mar 18, 10:00 AM
    I use cash for small transactions out of habit, as in the past small cheques or card transactions were often banned in some places, and as all places were different, I never wanted to risk it.

    However this poll has got me thinking, these days with all my cards contactless, I guess cashless is possible and maybe I should give it a try?
    Originally posted by telemarks
    If you want your every move and buy tracked, then go for it.
    • lofielectronic
    • By lofielectronic 14th Mar 18, 10:22 AM
    • 637 Posts
    • 297 Thanks
    lofielectronic
    I use cash daily as I find it much easier to track my spending. I've found it too easy to lose track when paying for things with cards over a few days between checking my balance and spending online. I suppose I could check that more often but still, a quick glance in my wallet is simpler and more convenient.

    That said, our local train station just replaced all the ticket machines there with card only ones and it isn't manned so I've been given little choice there.

    I have a friend who doesn't generally carry cash and while its fine when we're in a city I often find myself having to lend them cash when we are travelling as they struggle with the lack of contact-less and cash machines.
    • aj23
    • By aj23 14th Mar 18, 10:25 AM
    • 420 Posts
    • 152 Thanks
    aj23
    I use cash daily as I find it much easier to track my spending. I've found it too easy to lose track when paying for things with cards over a few days between checking my balance and spending online. I suppose I could check that more often but still, a quick glance in my wallet is simpler and more convenient.

    That said, our local train station just replaced all the ticket machines there with card only ones and it isn't manned so I've been given little choice there.

    I have a friend who doesn't generally carry cash and while its fine when we're in a city I often find myself having to lend them cash when we are travelling as they struggle with the lack of contact-less and cash machines.
    Originally posted by lofielectronic
    I'm the same. And we are being forced to go cashless, as you highlight the ticket machine. When I topped up my Oyster card last week, I wanted to use cash. There were 5 machines, one accepted coins and one notes. The only one with a queue was the one for notes and coins.
    • takman
    • By takman 14th Mar 18, 1:27 PM
    • 3,320 Posts
    • 2,909 Thanks
    takman
    I use cash daily as I find it much easier to track my spending. I've found it too easy to lose track when paying for things with cards over a few days between checking my balance and spending online. I suppose I could check that more often but still, a quick glance in my wallet is simpler and more convenient.
    Originally posted by lofielectronic
    I would say the opposite is true and I think it's far easier to track what your spending with an account like Monzo that gives instant notifications when you use your card to update your balance and categorises your spending.

    In a few seconds I can see how much I have spent in a particular month on shopping and eating out. With cash all you know is that you withdrew a certain amount that month but nothing to show where that money went.

    Too many snowflakes getting sucked into the Contactless/virtual debit cards on their mobile phones. and playing into big brother tracking your every move and spending habits. It's doing so many people out of jobs.

    Why you'd just want to tap your way through buying things I just don't know.
    Originally posted by aj23
    Who really cares if the bank can see where you have spent your money and how much. Things like the Tesco Clubcard provide far more in depth data on what items specifically you buy during shopping and people voluntarily sign up to that.

    And I'm 25.

    By the way, there's more cash being drawn out in branches than ever before, and more cash in circulation globally than ever before. Plus, the chief of the Bank of England (who's signature is on pretty much every banknote) said she doesn't trust Contactless payments; Contactless fraud has overtaken cheque fraud for the first time too.
    Originally posted by aj23
    Ofcourse there is more cash in circulation than ever before, have you never heard of inflation?.
    • aj23
    • By aj23 14th Mar 18, 2:42 PM
    • 420 Posts
    • 152 Thanks
    aj23
    I would say the opposite is true and I think it's far easier to track what your spending with an account like Monzo that gives instant notifications when you use your card to update your balance and categorises your spending.

    In a few seconds I can see how much I have spent in a particular month on shopping and eating out. With cash all you know is that you withdrew a certain amount that month but nothing to show where that money went.



    Who really cares if the bank can see where you have spent your money and how much. Things like the Tesco Clubcard provide far more in depth data on what items specifically you buy during shopping and people voluntarily sign up to that.



    Ofcourse there is more cash in circulation than ever before, have you never heard of inflation?.
    Originally posted by takman
    1) You can get instant notifications with any bank. I've set alerts on credit cards and I get an instant SMS and email if I buy something exceeding my alert. I know how much I spend without relying on analytical technology. Doing it your way just tells what you are spending, it doesn't control your spending. With cash, when my wallet is empty I know I have no more until payday, and that suits me, as it stops me being able to spend. handling cash controls your spending.

    2) Yes, the bank, but if you think other bodies don't have access to some data or get informed of it, then you are extremely naive. People sign up for loyalty cards, but not everyone.

    3) Yes, inflation, but more people are drawing out that cash and spending it, contrary to what is spun.
    • Ectophile
    • By Ectophile 14th Mar 18, 3:06 PM
    • 3,122 Posts
    • 1,996 Thanks
    Ectophile
    Contactless cards? Yes, I have seen them. Whenever somebody sends me one, I send it back. They are for lazy people (and lazy banks) who care more about convenience than security.

    It's cash for little things, chip+pin elsewhere. Or gift cards if I can buy them at less than face value.

    And I still use cheques occasionally, but not in shops any more.
    If it sticks, force it.
    If it breaks, well it wasn't working right anyway.
    • takman
    • By takman 14th Mar 18, 3:08 PM
    • 3,320 Posts
    • 2,909 Thanks
    takman
    1) You can get instant notifications with any bank. I've set alerts on credit cards and I get an instant SMS and email if I buy something exceeding my alert. I know how much I spend without relying on analytical technology. Doing it your way just tells what you are spending, it doesn't control your spending. With cash, when my wallet is empty I know I have no more until payday, and that suits me, as it stops me being able to spend. handling cash controls your spending.
    Originally posted by aj23
    No you cannot get instant notifications from any bank. Traditional bank accounts allow offline spending on the cards of small amounts so the bank doesn't even know about the transaction instantly in a lot of cases.
    Using something like Monzo is always online so you get instant notifications of transactions when you have mobile signal and instant balance updates.

    If you use cash then you have to note down some how or go back through receipts to know where you money has gone, with Monzo this is all automatic.

    A weekly/monthly standing order to put a certain amount into a Monzo account controls the amount you can spend and is automatic. If the account is empty then you know you have hit your budget. If you use only cash to budget then it's not easy to use that cash to buy things online. With Monzo you can use it for online and physical transactions and even withdraw cash if you want and label what its for.

    2) Yes, the bank, but if you think other bodies don't have access to some data or get informed of it, then you are extremely naive. People sign up for loyalty cards, but not everyone.
    Originally posted by aj23
    It doesn't bother me who tracks my spending habits and where i spend my money. I'm happy for them to do that in return for a convenience and free bank accounts/services. Just like i don't mind Google using my location data to create a very good Sat Nav App which can accurately show traffic and the fastest route and i don't have to pay to use it.

    3) Yes, inflation, but more people are drawing out that cash and spending it, contrary to what is spun.
    Originally posted by aj23
    You said:

    there's more cash being drawn out in branches than ever before, and more cash in circulation globally than ever before
    Originally posted by aj23
    So you saying more people use cash now than ever before?. So 100 years ago when there was no debit cards or electronic payments system less people used cash than they do now?. How exactly did these people pay for things if they didn't use cash in 1918?.
    What you said is obviously not true so you need to specify exactly what you mean by that statement and what data you are basing that on.
    • GeorgeHerts
    • By GeorgeHerts 14th Mar 18, 3:08 PM
    • 7 Posts
    • 7 Thanks
    GeorgeHerts
    Cash protects your privacy
    No -- I'm not one of those survivalists with a stash of canned goods in my retreat in the hills. But I am concerned about the galloping loss of our privacy, and especially about how much government knows about each of us.


    With cash, only you and the person you are dealing with knows what you buy. With a credit card, everyone, the government in particular, can know.


    Once you realise that, it is surprising how often you notice some official saying "it is time we got rid of cash". It supports the drug trade; it enables tax dodging, etc. But do you really want to send some government department a complete list of everything you buy each month?


    I don't.


    Not all officials are benign, and governments can change frighteningly quickly. And look at China for how IT/Internet can be used for social control, if you want to be really frightened.


    Of course I use credit cards a lot. They are so convenient. But not always.


    "Just because you're paranoid doesn't mean they're not out to get you"


    Now, where's that tenner ... ?


    Geo.
    • Senseicads
    • By Senseicads 14th Mar 18, 3:31 PM
    • 104 Posts
    • 57 Thanks
    Senseicads
    I don't really care if I am being tracked. I use my amazon rewards credit card to get all my purchases during the month and then pay it off at the end. Makes things so much easier. The only thing I have to use cash for is the canteen at work, which is incredibly annoying as it is supposed to be a cashless system...but you can only add money on to it the lunch card using cash! I have also used apple pay on my phone, tied into the amazon card. It's really convenient at the pub on a Friday night!
    • aj23
    • By aj23 14th Mar 18, 4:01 PM
    • 420 Posts
    • 152 Thanks
    aj23
    No you cannot get instant notifications from any bank. Traditional bank accounts allow offline spending on the cards of small amounts so the bank doesn't even know about the transaction instantly in a lot of cases.
    Using something like Monzo is always online so you get instant notifications of transactions when you have mobile signal and instant balance updates.

    If you use cash then you have to note down some how or go back through receipts to know where you money has gone, with Monzo this is all automatic.

    A weekly/monthly standing order to put a certain amount into a Monzo account controls the amount you can spend and is automatic. If the account is empty then you know you have hit your budget. If you use only cash to budget then it's not easy to use that cash to buy things online. With Monzo you can use it for online and physical transactions and even withdraw cash if you want and label what its for.



    It doesn't bother me who tracks my spending habits and where i spend my money. I'm happy for them to do that in return for a convenience and free bank accounts/services. Just like i don't mind Google using my location data to create a very good Sat Nav App which can accurately show traffic and the fastest route and i don't have to pay to use it.



    You said:



    So you saying more people use cash now than ever before?. So 100 years ago when there was no debit cards or electronic payments system less people used cash than they do now?. How exactly did these people pay for things if they didn't use cash in 1918?.
    What you said is obviously not true so you need to specify exactly what you mean by that statement and what data you are basing that on.
    Originally posted by takman
    1) Yes you can. I do. If I wanted, I could set an alert to tell me every time my card is used for purchases of more than £1 and I get instant SMS and email alerts saying when, how much for and where. I'm really not interested in Monzo, but mobile banking apps work in the same way. What you are saying isn't true.

    2) No you don't have to note down or go back through receipts. I don't. I just know. Again, I really don't care about Monzo or what it does. I don't need or want something like to do this for me.

    3) I can't be bothered with setting up stand orders on a weekly or monthly basis to control what I spend, because I control what I spend with my hands. Why you'd want to set all of that up and manage that is beyond me. Would take up more time if anything. If my wallet is empty I know I have hit my budget. That's it. Not waiting or relying on the next standing order payment.

    4) Doesn't sound that convenient to me, and all personal banking is free unless you choose a premium account, that way the people who are employed and paid to do those jobs actually have a job.

    5) Nobody had money in 1918 (Hello, the time of revolutions due to starvation...) People lived off of their lands for centuries. Of course there is more money and more cash now.
    • aj23
    • By aj23 14th Mar 18, 4:02 PM
    • 420 Posts
    • 152 Thanks
    aj23
    I don't really care if I am being tracked. I use my amazon rewards credit card to get all my purchases during the month and then pay it off at the end. Makes things so much easier. The only thing I have to use cash for is the canteen at work, which is incredibly annoying as it is supposed to be a cashless system...but you can only add money on to it the lunch card using cash! I have also used apple pay on my phone, tied into the amazon card. It's really convenient at the pub on a Friday night!
    Originally posted by Senseicads
    Sounds terrible. And your canteen is cashless, as you can't buy food with cash.
    • takman
    • By takman 14th Mar 18, 4:58 PM
    • 3,320 Posts
    • 2,909 Thanks
    takman
    1) Yes you can. I do. If I wanted, I could set an alert to tell me every time my card is used for purchases of more than £1 and I get instant SMS and email alerts saying when, how much for and where. I'm really not interested in Monzo, but mobile banking apps work in the same way. What you are saying isn't true.
    Originally posted by aj23
    You are completely wrong with what you are saying. If you purchase something on a debit card with a traditional bank it will show up in your pending transactions at best (if its an offline transaction then it won't show up at all for a while).

    If you use contactless or go somewhere like Mcdonalds (which don't seem to take payments for a few days) then usually it will take several days for low value transactions to show up so you won't get a notification until several days after.

    2) No you don't have to note down or go back through receipts. I don't. I just know. Again, I really don't care about Monzo or what it does. I don't need or want something like to do this for me.
    Originally posted by aj23
    So you know how much you spent on eating out every month for the last year?, i seriously doubt that you do unless you spend time writing it down.
    So if you don't know how much your spending then you won't be able to come up with an effective budget.

    3) I can't be bothered with setting up stand orders on a weekly or monthly basis to control what I spend, because I control what I spend with my hands. Why you'd want to set all of that up and manage that is beyond me. Would take up more time if anything. If my wallet is empty I know I have hit my budget. That's it. Not waiting or relying on the next standing order payment.

    4) Doesn't sound that convenient to me, and all personal banking is free unless you choose a premium account, that way the people who are employed and paid to do those jobs actually have a job.
    Originally posted by aj23
    It takes me a few minutes to setup a standing order. Now you just add up all the time you have to queue up and use a cash machine. My method you do it once and that's it, your method you need to visit a cash machine at least every month to withdraw cash.

    Also you have security issues. If i loose my wallet i loose no money and just order more cards for free. If you loose your wallet you have lost your entire weekly/monthly budget.

    5) Nobody had money in 1918 (Hello, the time of revolutions due to starvation...) People lived off of their lands for centuries. Of course there is more money and more cash now.
    Originally posted by aj23
    I don't agree with that but i will give a different example; So you think in 1970 (which was before Debit Cards) people used less money than they do now. In 1970 the majority of transactions would have been cash and now at least 50% of transactions are cash. If you want to argue this point then you need to provide some facts because it simply can't be true what your saying that we use more cash now than ever before when you take into account of inflation.

    But i know you will never agree because you are very set in your ways and obviously have a very different lifestyle to me.
    I very rarely go to any town centre to do shopping and try and avoid going into physical shops as much as i can as i find it a waste of time. I much prefer to spend my time with my family doing enjoyable things, doing hobbies or socialising.

    You obviously like to spend your time visiting shops, banks and cash machines and buying things in physical shops.
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