Cash
This topic was created in the Miscellaneous forum by sweethearts on Sunday, December 17, 2023 and has 22 replies.
Just curious to see how that is going in your country? Are they trying to get rid of it like over here in Australia?
TBH, we’ll be F**ked once this happens!!
Please state country you’re In and what they are doing?
One of the banks here just announced they are not taking cash at all soon and they would charge for it… guessing that’s if people deposit it through their atm’s?
Most of the branches at all banks are closed or closing and staff numbers have decreased dramatically. Everything becoming online or through the phone.
Imagine, when the internet goes down?? You don’t even need a crystal ball to see where this is all going, and I’m only touching on the obvious!
TBH, we’ll be F**ked once this happens!!
Please state country you’re In and what they are doing?
One of the banks here just announced they are not taking cash at all soon and they would charge for it… guessing that’s if people deposit it through their atm’s?
Most of the branches at all banks are closed or closing and staff numbers have decreased dramatically. Everything becoming online or through the phone.
Imagine, when the internet goes down?? You don’t even need a crystal ball to see where this is all going, and I’m only touching on the obvious!
I ain't gon lie that leave the world behind movie lookin truer and truer..
Money in Norway is all digital. Everywhere you go to has the option to pay on card and there is no minimum spend for card payments. Cash is mostly used by tourists these days.
Yep, it’s already happened here in the UK. Debit cards accounted for half of transactions last year:
https://www.ukfinance.org.uk/news-and-insight/press-release/half-all-payments-now-made-using-debit-cards#:~:text=For% 20the% 20first% 20time% 2C% 20half,cent% 20to% 2014% 20per% 20cent.
I only carry a small amount of cash in case my card doesn’t work for some reason.
https://www.ukfinance.org.uk/news-and-insight/press-release/half-all-payments-now-made-using-debit-cards#:~:text=For% 20the% 20first% 20time% 2C% 20half,cent% 20to% 2014% 20per% 20cent.
I only carry a small amount of cash in case my card doesn’t work for some reason.
Posted by DKdo yall have instant transactions? or does it still take a few days for money to move around banks etc
Money in Norway is all digital. Everywhere you go to has the option to pay on card and there is no minimum spend for card payments. Cash is mostly used by tourists these days.
Posted by SoloPayments are usually made in real time, where the funds are available in the recipient’s account a few seconds after the payment was initiated.Posted by DK
Money in Norway is all digital. Everywhere you go to has the option to pay on card and there is no minimum spend for card payments. Cash is mostly used by tourists these days.
do yall have instant transactions? or does it still take a few days for money to move around banks etcclick to expand
Oh wow. I guess I still live in 19th century as far as this issue goes 🤣
I mean, when I was buying a car they asked for 10,000 euros in cash on the spot! I said who has that kind of money with them and they said who doesn’t?!? Apparently, everyone here locally has all their cash under the mattress.
All transactions are mainly cash only. Few places take credit cards and older people don’t know how to operate anything that’s not cash (people over 50).
I mean, when I was buying a car they asked for 10,000 euros in cash on the spot! I said who has that kind of money with them and they said who doesn’t?!? Apparently, everyone here locally has all their cash under the mattress.
All transactions are mainly cash only. Few places take credit cards and older people don’t know how to operate anything that’s not cash (people over 50).
Posted by borednbeautifulWhich country are you in now? Still in Europe?
Oh wow. I guess I still live in 19th century as far as this issue goes 🤣
I mean, when I was buying a car they asked for 10,000 euros in cash on the spot! I said who has that kind of money with them and they said who doesn’t?!? Apparently, everyone here locally has all their cash under the mattress.
All transactions are mainly cash only. Few places take credit cards and older people don’t know how to operate anything that’s not cash (people over 50).
I tried for a few months using cash and tbh, I spent way less!! The only places I used my eftpos was the supermarket. I’d take out a couple hundred at a time but was more conscious when spending.
So many retailers had rung up the eftpos and I’d look at them and say cash so they would have to cancel. The other thing over here is there is a 2+ per cent additional charge on EFTPOS transaction’s and I’d have to fight to get it taken off because I was paying cash.
It all became too hard and I gave in within 3 months :/
Posted by MaxianesqueHopefully I won't shoot myself in the foot using that like I did with the car park ticket in Den Bosch 😂Posted by DKPosted by SoloPosted by DK
Money in Norway is all digital. Everywhere you go to has the option to pay on card and there is no minimum spend for card payments. Cash is mostly used by tourists these days.
do yall have instant transactions? or does it still take a few days for money to move around banks etc
click to expand
Payments are usually made in real time, where the funds are available in the recipient’s account a few seconds after the payment was initiated.
There are plans to make iDeal the EU commercialized standard. I'm pretty excited as a Dutchie.click to expand
Posted by MaxianesquePosted by DKPosted by MaxianesquePosted by DKPosted by SoloPosted by DK
Money in Norway is all digital. Everywhere you go to has the option to pay on card and there is no minimum spend for card payments. Cash is mostly used by tourists these days.
do yall have instant transactions? or does it still take a few days for money to move around banks etc
click to expand
Payments are usually made in real time, where the funds are available in the recipient’s account a few seconds after the payment was initiated.
There are plans to make iDeal the EU commercialized standard. I'm pretty excited as a Dutchie.
Hopefully I won't shoot myself in the foot using that like I did with the car park ticket in Den Bosch 😂
What happened?
How can you go wrong with Tikkie😂click to expand
ParkBee rules 😁
I think I've told you before. I had parked near the main station in the large car park, which worked well. When I wanted to leave by car in the evening, I realised that you could only enter Dutch number plates at the payment machine. It was almost 11pm and everything was completely automated anyway, with nobody around. I then used the SOS system to speak to a nice person who opened the barrier for me remotely. Didn't even have to pay a parking fee in the end, but for a moment I thought I would have to look for a room.
US, no change in my life here.
yes CBDC is the plan (central bank controlled digital money, with chinese-like social credit included, with programmable money that you can lose after a delay or maybe only use if you have your pfizer shot), but at the same time the banks and gafams are fighting to impose their own cashless systems (where they'll cheat you out of a percentage of course). So there's going to be a bit of a rabbi fight.
I don't have anything against digital money, but you know these people don't have the general well being in mind.
There's no point fighting for cash because if they want it out, they'll get it out. There's no point hoarding banknotes, you couldn't take out enough banknotes for just a year.
I recomend diverting some money (if you can) to buy some bitcoins (with your own keys and wallet), and to get accointed with decentralized finance on some trustable cryptos( bitcoin, BNB, monero )
Hoarding gold is risky, and gold is not used for everyday payments anyway, that's the job of silver (bimetallism). But rn the prices of gold and silver are being manipulated by some of the good "people" in the City of London.
I don't have anything against digital money, but you know these people don't have the general well being in mind.
There's no point fighting for cash because if they want it out, they'll get it out. There's no point hoarding banknotes, you couldn't take out enough banknotes for just a year.
I recomend diverting some money (if you can) to buy some bitcoins (with your own keys and wallet), and to get accointed with decentralized finance on some trustable cryptos( bitcoin, BNB, monero )
Hoarding gold is risky, and gold is not used for everyday payments anyway, that's the job of silver (bimetallism). But rn the prices of gold and silver are being manipulated by some of the good "people" in the City of London.
No change here. 50/50 in terms of cash use vs debit/credit/digital. Outside of work requirement, I don’t prefer to use cash.
Canada
Canada
From what I hear, China’s gone digital. No cash accepted in a lot of places there.
I like cash. US govt would love to digitally track everyone financially to manipulate/control further. Eradicate tax evasions once and for all! How about start within 🙄
I live in America, and accept the fact I'm am actual slave in the world's economy. I'll work my hands to the bone just to make sure my government makes everything outside my control flourish. That's fucking pride right there. Willing to take a giant dick up the ass just make the illusion my family and country can flourish. Meanwhile it's all just a heaping pile of shit. So be thankful you aren't there quite yet.
Solar Flares.
The world will definitely be cashless within two decades.
Posted by LuckyLibra7Really?? I see it happening a lot faster than that from what’s going on here!
The world will definitely be cashless within two decades.
Retail is 30-60% cashless in my area. I'm sure larger purchases are a far higher ratio.
I don't feel there are enough safe guards in place for cashless in America's banking system. Because there isn't. Our financial regulations keep getting weakened. There will be shenanigans again.
In fact, I would likely stop using a bank that stopped dealing in cash. Tho wouldn't close my account because of credit history.
Remove all my financial traffic and keep bar minimum in account.
They can not be trusted.
I don't feel there are enough safe guards in place for cashless in America's banking system. Because there isn't. Our financial regulations keep getting weakened. There will be shenanigans again.
In fact, I would likely stop using a bank that stopped dealing in cash. Tho wouldn't close my account because of credit history.
Remove all my financial traffic and keep bar minimum in account.
They can not be trusted.
I hardly step out with cash in hand. Just the phone is enough. From a local vegetable vendor to supermarkets every one excepts UPI transactions via phone. Not even card is needed here. So yes less of cash and more of phone pays here in India.
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