Cash

[CryptoWhale]

I find cash a complete inconvenience. The only thing I take out with me these days is my phone, don't even bother taking my bank card out unless I'm out all day / travelling far as a back up if my phone battery dies. I find it much easier for budgeting and tracking finances too. The only time I'll ever use cash is when you get the old "it'll be 80 cash or 100 card" down at the local garage

 

[Nictrix]

I’ve got £100 in my phone case but it’s been there for a year or more now- it’s only the window cleaner / gardener who gets cash. That comes from the shrapnel pot on the mantle piece.

You are almost on the side of moving to a cashless society but havnt realised it yet.
The people who you have mentioned that you pay by cash probably dont pay tax on what they have earned either, thats why they want cash in the first place, just like barbers.
I dont know what to think as like most people I havnt visited a bank to lift cash in over a year and to be honest I dont miss it. Probably helps to save slightly too.
The main downsides I can see is if you want to buy something like a can of coke or a chocolate bar it was handy just to use coins and most places might not take cards for something under a certain value.

 

[ronk]

The only coin I have are in the ashtray of the cars for the odd supermarket trolley!

 

[Chippie]

Next time I’m at the barbers I’ll see if he’ll take a couple of chickens or a turkey as payment, although being a Yorkshire man It would probably be easier to get a ferret in my trousers than a chicken in my jacket

 

[Ole gits rule]

Wow.

A few years ago there was a homeless person outside Costa in the high street (not that that’s relevant) and he had one of those cards readers linked to a mobile, Zettle?

“Sorry mate, no change”
“That’s ok sir, I take all credit cards and Apple Pay”



I think a big risk to cash is online shopping. We used to pay for our weekly shop with cash (once the money in the monthly food purse was gone, that’s it for the month!) Now that we order online, that’s obviously not an option.

Then he is not homeless - I would have walked away.

I didn’t give him any money, I thought exactly the same and thought it was strange, but funny as well.

Don’t get me wrong, I do sometimes give people on the streets money or buy them a drink. Normally big issue sellers, I might give them a few pounds (I’ve been known to take £10 out and go back to them) and don’t take a magazine, but that is rare and a few years since I last did it.

“Apparently” nowadays you aren’t meant to give money directly, instead donate to a homeless charity.

I do the same, probably every 3 or 4 months, I normally give coffee and food from Greggs or similar but if I see some else has done that I do give a £10.

May do it 2 or 3 times at xmas but if they look like they are taking the Mickey then I will walk on.

 

[Mr Tidy]

I don’t want a cashless society is it will cause problems down the line. For example I sold my car yesterday and have a considerable amount of money sat in my account and wish to put some into long term savings (premium Bonds) and also transfer some money to my wife. However my bank who I have been with for 40 years will only allow me to transfer a maximum of 5k in anyone 24hr period. This is extremely inconvenient ! Maybe it’s time to rethink my bank which is NatWest?. I have always used cash when paying for cars privately as I find “cash is king” when doing a deal!

I've had similar experiences with RBS. When I bought my first Z4 in 2014 I could make a payment of up to £10K by phone or online. Same again when I bought my second in 2016.

But by the time I bought a daily in 2018 it had been reduced to £1K, but they said I could make more than one payment on the same day. I tried, they stopped the 2nd and 3rd becuase I had never made a payment to that account before! Well that's because I had never bought a car from that guy before FFS.

Eventually got through to their fraud team and got payment made - luckily the car was only 30 miles from home and the seller was patient!

When I bought my latest Z4 it was over 150 miles away so I wasn't going through that again! I just arranged to collect cash from my nearest Nat West as there aren't any RBS branches near where I live.

But last week I did manage to make an online payment of £15K in one transaction from my Barclays account to my account with another bank so maybe a different bank would be more accomodating.

 

[wspohn]

Cash is a legal tender, it is our right to pay with cash.

Actually, no. If you incur a debt and the creditor demands payment you are probably entitled to pay in cash.

If you enter a business that has a sign posted saying no cash sales. then no, you have no right to demand that they sell to you and accept cash. There is no debt owing by you to the shopkeeper, and they are unwilling to enter into a contract with you that involves a cash payment.

 

[ronk]

Cash is a legal tender, it is our right to pay with cash.

Actually, no. If you incur a debt and the creditor demands payment you are probably entitled to pay in cash.

If you enter a business that has a sign posted saying no cash sales. then no, you have no right to demand that they sell to you and accept cash. There is no debt owing by you to the shopkeeper, and they are unwilling to enter into a contract with you that involves a cash payment.

That quote isn’t attributed to me‘!

 

[wspohn]

That quote is straight out of your first post starting this thread. Were you quoting someone without attribution?

 

[ronk]

I’m unsure who or where the we opinions are from
I do recognise the changes in the U.K. though- about 40 years ago we had an afternoon in the Empress in Victoria BC - our host paid the bill on a card which he chose from a card holder 400mm Long - iir was filled with cards - we as Brits had a Barclaycard and that was all!

I haven’t ever seen a sign in the U.K. saying no cash sales
There are saying no cards accepted..

 

[Pondy]

I haven’t ever seen a sign in the U.K. saying no cash sales
There are saying no cards accepted..

Yet on the flip side, my local Chinese takeaway will only take cash. I wonder how much tax they pay?

 

[Argyll Andy]

I haven’t ever seen a sign in the U.K. saying no cash sales
There are saying no cards accepted..

Yet on the flip side, my local Chinese takeaway will only take cash. I wonder how much tax they pay?

Less than they would if they took cards :wink:

 

[ronk]

It’s like the commercial traders at car boot sales!
Their incomes are totally untraceable - the revenue seem to turn a blind eye.

 

[Pondy]

Their incomes are totally untraceable - the revenue seem to turn a blind eye.

The revenue try their best. It's actually another good case for a cashless society then, as they would all have a paper trail for everything

 

[Dark Diggler]

There’s a furniture shop I know that installed a “free withdrawal” ATM in his store. He politely tells people that he doesn’t take cards and the machine is free to use, deposits are cash and balances must be by bank transfer prior to delivery. Genius.

 

[Nictrix]

There’s a furniture shop I know that installed a “free withdrawal” ATM in his store. He politely tells people that he doesn’t take cards and the machine is free to use, deposits are cash and balances must be by bank transfer prior to delivery. Genius.

Does he get some sort of payment for everybody who uses the cash machine?

 

[Darkangelv2]

It will be a sad day if cash does disappear.

I very much doubt those obstacles would still exist in a cashless society….

 

[Dark Diggler]

There’s a furniture shop I know that installed a “free withdrawal” ATM in his store. He politely tells people that he doesn’t take cards and the machine is free to use, deposits are cash and balances must be by bank transfer prior to delivery. Genius.

Does he get some sort of payment for everybody who uses the cash machine?

Not sure on that but I would guess not because it could be a way in the event of a revenue investigation for example, to link people and cash amounts to invoices that might not show a cash deposit on the sales records he keeps and declares. Pure supposition on my part of course.

 

[Nictrix]

There’s a furniture shop I know that installed a “free withdrawal” ATM in his store. He politely tells people that he doesn’t take cards and the machine is free to use, deposits are cash and balances must be by bank transfer prior to delivery. Genius.

Does he get some sort of payment for everybody who uses the cash machine?

Not sure on that but I would guess not because it could be a way in the event of a revenue investigation for example, to link people and cash amounts to invoices that might not show a cash deposit on the sales records he keeps and declares. Pure supposition on my part of course.

I was thinking if he got a kickback from every withdrawal from the cash machine he would be in the money as there may have been charges to him by his bank for people paying by card