Potential cashless society and the evil buy it now button.

We don’t have CBDC in the UK. Not sure how using cash impacts that.

Not yet. It will be coming, when I don’t know.

Have spotted a lot more people paying by cash at the supermarkets and petrol stations, of all ages so it’s not just the oldies going back to cash for budgeting purposes.

Our local has been cashless since it opened. The landlord says that you can’t put a price on the mither of not having to cash up at the end of each night, then having to find a bank with a branch still open to go and pay it all in

Lots of businesses that handle significant amounts of cash get it collected by a security van, pubs are a big user of it. I used to do it as my old job and for sub-£7k collections it cost £13, so less than sending a member of staff to the local bank and back for lots of customers. I haven’t done the job for 2 years now but ex-colleagues who are still there say small pickup trade is booming right now after it pretty much died off last year. People are switching back to cash to help with budgeting (or to keep the real spend in the pub away from the other half…).

The only time I ever have cash is when I pay the MiL’s leccy bill. It gets stuffed into my wallet and swapped for Euros when we go abroad. Always pay on my phone these days, haven’t used a card for ages.

I pay our cat sitter in cash and that’s pretty much it. I have an emergency £20 in my phone case, for cafes etc which don’t take cards and think I’ve had to use it twice since the pandemic started….

Lots of businesses that handle significant amounts of cash get it collected by a security van, pubs are a big user of it. I used to do it as my old job and for sub-£7k collections it cost £13, so less than sending a member of staff to the local bank and back for lots of customers. I haven’t done the job for 2 years now but ex-colleagues who are still there say small pickup trade is booming right now after it pretty much died off last year. People are switching back to cash to help with budgeting (or to keep the real spend in the pub away from the other half…).

Surely that’s only really saving you the trip to the bank though. It doesn’t get you out of all the cashing up at the end of the night and having to store it until the van comes round the next day.

Just spent 2 days in Iceland (transit to USA). Didn’t spend, touch or even see a single physical ISK. Which was a thoroughly good thing. Been in USA for 24h, ditto, though I don’t expect that to last and we do have some dollars with us.

Why would anyone want to use physical money these days?

Card is clearly preferred but the majority of people. I manage a lot of unattended payment kiosks, where we offer cash and card payment (cash payment is both coin and notes and the machines give change) card usage is between 60% and 85%. We recently made significant improvements to card payment availability, saw quite a marked shift in the payment ratio further towards card as payment availability got to 99%. This is hundreds of thousands of transactions a week, across the country, many locations where we have a demographic skewed towards older or low income users. Not what we expected when we started tracking the data.

Cash resurgence is real but it’s also lazy journalism, there’s a lot of people who don’t want to let go but the reality is cash is on a downwards trajectory. As the older generations die out and are replaced by digital savvy kids the decline of cash will speed up.

but the reality is cash is on a downwards trajectory. As the older generations die out and are replaced by digital savvy kids the decline of cash will speed up.

+1

The sooner the better.

if I see a ‘no cards, cash only’ sign, I immediately think tax dodge.

I normally just go somewhere else. I’ve pretty much stopped shopping in the local town centre because nowhere accepts cards and I’ve no time for messing around with cash. Makes me wonder if they ever consider how much they lose from lost business.

There is a rise in ‘no cash, contactless only’ retailers in Manchester. Mostly coffee shops and cafes, but the switch is coming.

Brains tried that in their pubs in Cardiff back in 2019, worked for a while but they quickly had to go back to cash payment availability on Rugby days as there were lots of issues with people not having cards! Agree though, cashless is coming in the next generation or so.

Surely that’s only really saving you the trip to the bank though. It doesn’t get you out of all the cashing up at the end of the night and having to store it until the van comes round the next day.

You can rent a machine that does it for you actually, you just feed the cash in and it does the rest. Some customers actually have it with a live feed and it’s classed as ‘in the bank’ that day. It only eases the burden of cash but there are a lot of businesses and customers who won’t give the stuff up! It’s all a solution to the lack of bank branches rather than a complete system, sort of a halfway step.

if I see a ‘no cards, cash only’ sign, I immediately think tax dodge.

Indeed! On the other hand, a self-employed plasterer mate boycotts those enlightened business that don’t take cash. I can’t imagine why he would do that 🤔😉

I was in 2 pubs last week that wouldn’t accept card payment. Cash only

Did those pubs have flat roofs?

Everywhere I’ve been recently has taken contactless payments, I’d be pretty stuck if they only took cash, I don’t live in the cash economy and the number of cash points is also dropping. Many that are left charge a stupid amount to take money out.

I really don’t understand the idea that using cash is better for budgeting. Whatever you’re planning to spend it on costs the same regardless. Self control and a spreadsheet takes care of budgeting. Cash is a massive pain in the arse in my opinion. Not used it for years and don’t intend to start again for any reason.

There’s a special place in hell for the people that message you when you’re selling something and ask “How much if I pay cash?” More, I’ll charge you more because I’ll have to take it to a bank to put it in my account and that’s top fun and a superb use of my time.

I really don’t understand the idea that using cash is better for budgeting.

I do understand this, TBH. When you pay cash you physically hand something over, and physically have less of that thing following the transaction, so the act of spending the money has an obvious, immediate effect. That’s quite a thing, psychologically speaking. Plus, if you have a fixed amount of cash for the day/week/month, it’s much easier to keep track of than phone apps and spreadsheets, again, mainly because of the physicality and immediacy of it all.

budgeting means different things to different people.

for some, its looking at your bank statement or spreadsheet and realising youve spent £90 in starbucks this month, then making the effort to go less next month.

for someone else it might be having £40 left til payday, so you take £20 to the pub and leave £20 in the sock draw for next weeks supermarket.

personally I dont get the phsycological aspect to handing over cash, but we are all wired different.

I really don’t understand the idea that using cash is better for budgeting.

I can see this, you have a wad of cash and when it’s gone you have nothing until you next get paid / Giro cashes etc.

You really want a contactless app which flashes up what you have before and after each debit. Currently it’s a bit vacuous, you could be overdrawn or have £20k in your account and it looks the same.

for some, its looking at your bank statement or spreadsheet and realising youve spent £90 in starbucks this month, then making the effort to go less next month.

I think that works differently for different demographics though.

I’ll admit that when I’m out of work my wallet is bulging with cash because I’ll usually sell bikes/parts, get cash and subconsciously that’s all my money until the next payday. When working and paid regularly it’s generally empty. So it does work. But at the same time I’m not generally one to spend every penny I have in the good times either so I’m not entirely the one the advice is aimed at.

You really want a contactless app which flashes up what you have before and after each debit. Currently it’s a bit vacuous, you could be overdrawn or have £20k in your account and it looks the same.

i’m currently moving from barclays to monzo. the barclays app is good but the monzo is better. automatically categorises spending, tells me if I’m spending more than usual etc.

its not hard to check but some people (my wife mostly) prefer not to know…

Off to the barbers at lunchtime and they only take cash, which is a right pain as the nearby ATM rarely has any, so then I need to make a purchase to get cashback.

I really don’t understand the idea that using cash is better for budgeting.

Because for some folks the physical notes in their hand is a pretty simple indicator of how much they have to spend each week.

You really want a contactless app which flashes up what you have before and after each debit.

I think they had that on one of the payment/banking apps i have. But it was an option that i didn’t use and it now appears to have gone. (i just tried to find it and can’t.)

I’ve not deliberately used cash to buy anything in about 3 years, the only cash i get now is from the neighbours when they owe me something. That generally gets stockpiled and dusty, last time i used cash was to get rid of some notes that were being withdrawn.

Can anyone explain to me why there are people (my dad included) that are totally against a cashless society? I am seeing more and more conspiricy theory type posts on social media about the toipic as well, am I naive in my view that a cashless society is a good thing?

Somebody posted something above about CBDC which as far as i understand is a completely separate issue from our cashless / digital cash society. Seems a bit tin-hat to me. Cash is a total PITA.

I think they had that on one of the payment/banking apps i have. But it was an option that i didn’t use and it now appears to have gone. (i just tried to find it and can’t.)

Except, on an iPhone, you pay via ApplePay, which I don’t think know’s your balance – in fact it can’t as it can work offline….

Can anyone explain to me why there are people (my dad included) that are totally against a cashless society?

1) some people don’t like change. I can’t imagine how they would have dealt with decimalisation if they were alive/adult at the time. “how we’ve always done it” is a powerful thing.

2) some are so terrified of the gub’mint tracking what they buy for some reason that they would rather deliberately inconvience themselves both in time and financially to avoid it. This desire for secrecy and annonymity is often, bizarrrely, accompanied by making sure everyone else in [digital] earshot knows how much of an individual non-conformist you are.

3) cash is tax free.

Can anyone explain to me why there are people (my dad included) that are totally against a cashless society?

I have a FB friend, who due to Covid seems to have become a complete conspiracy theorist and posts stuff about *they* will control what you can spend etc in the cashless world and how we must have cashpoints protected. I did point out that *they* could just control your access to cashpoints….

Can anyone explain to me why there are people (my dad included) that are totally against a cashless society? I am seeing more and more conspiricy theory type posts on social media about the toipic as well, am I naive in my view that a cashless society is a good thing?

Like all good conspiracy theories, there’s someone that stands to gain from it.

Area 51 – I’m sure Lockheed don’t object to a load of nutjobs considering that there’s another enemy that needs a few billion spent on it developing weaponized space planes.

Cashless – the obvious trades doing work for cash

Qanon – the alt-Right.

etc.

Has everyone forgotten when the visa network went down the other year? Never put all your eggs in one basket.

Except, on an iPhone, you pay via ApplePay, which I don’t think know’s your balance – in fact it can’t as it can work offline….

Yes, it’s a banking app, that is linked to your account, and would show your balance when you were making a payment.

in fact it can’t as it can work offline….

Sort of. Your device with your ApplePay key on might work offline… but that’s because you use it with a pay point that is online… that can check you have the funds to pay. Anyway… the card/account you have linked to ApplePay should have a banking app… put that on the phone as well and it can nag you about what you’re spending via ApplePay and all other methods (once your phone is online, of course).

Has everyone forgotten when the visa network went down the other year? Never put all your eggs in one basket.

Did it? Can’t have been a big deal as I don’t recall anything….

the card/account you have linked to ApplePay should have a banking app… put that on the phone as well and it can nag you about what you’re spending via ApplePay and all other methods (once your phone is online, of course).

Yes, but the App isn’t involved in the payment process, so you have no idea how solvent you are when you run Applepay.

Can anyone explain to me why there are people (my dad included) that are totally against a cashless society?

1) some people don’t like change.

You’d think that would make them more in favour of it. 😁

you have no idea how solvent you are when you run Applepay

If that’s what you choose. Personally, I check with my banking app to see what I have left in my account, and what payments have recently gone out. Why would I want to check with ApplePay? It has no idea what is happening with my banking, why would I want it to? That DD that just went out. That card payment made online. None of its business. As for online/offline… where are you buying things where there is no phone signal and no wifi? That might be quite an England centric point, sorry if you’re somewhere more remote and less connected.

posts stuff about *they* will control what you can spend etc in the cashless world

bonkers, to what gain?

you’ve bought too many bike bits this year, card declined?

our whole society is based on people spending and sending the same money round and round. Not without its downsides, I will admit, especially as that can be at odds with sustainability.

But why the government and banks want to stop you spending is a quesiton these people never answer.

If that’s what you choose

I’m merely pointing out why budgeting is easier will all your money as cash in you hand rather than having to run one app to see what you have in your current account, mentally subtract out any outstanding DDs and then use Applepay to buy a plate of finest smashed avocado on toast..

Personally I just buy the toast knowing there is always enough money to cover it – but then I’m not on the breadline (yet).

Oh, I have been… and seeing your overdraft limit being exceeded be a few quid (meaning lots of charges) while you know you have just under a tenner in your pocket in cash is such a sinking feeling… if that money was in your account until you’ve spent it then it could be helping keep the ever present creeping threat of the bank charges at bay, maybe ’till payday, if luck is with you. There’s a downside to all payment methods when you’re shit broke.

Can anyone explain to me why there are people (my dad included) that are totally against a cashless society?

From my FB friend who went from a very rational chap to a total paranoid, conspiracy theory nut job over the last two years and now just posts crap like this:

Paranoid delusions by Ben Freeman[/url], on Flickr

*They* are coming to get you…..

He also posts a lot about Covid masks causing heart attacks. I have offered to put him in touch with a friend, deputy medical director of Papworth Heart Hospital, to discuss this, but apparently ‘he’ is one of *them*.

His FB feed is my insight in the online equivalent of the Victorian loony asylum – so I haven’t blocked him yet.