Cash Only a thing of the past?

[Casually made]

Taking an alternative view point.....

As a society in which governments around the world are becoming increasingly corrupt and authoritarian having cash as an option is an absolute necessity

You can see which way this "cashless" society could go , you will eventually have gov ordering banks to freeze accounts for unpaid taxes

Another issue is that govs can literally rake tax & vat in at source at whatever level they deem fit

No more hiding a few quid here and there

Sorry but it's a no from me.

 

[japancool]

I’ve just done so and can’t find any report suggesting fish and chips demographics are skewed towards poorer people.

No, but market research suggests that fish and chips are more popular amongst an older demographic, and they are the group who are more likely to use cash.

Fish and chips have older appeal - Fish Farmer Magazine

FISH and chip shops clearly outnumber other UK fast food outlets such as McDonalds, but they tend to be more popular among the older generation, a report into the UK food service sector has found. The young are now turning to more modern eating trends such as sushi, with its high salmon content...

www.fishfarmermagazine.com

 

[fisicx]

No, but market research suggests that fish and chips are more popular amongst an older demographic, and they are the group who are more likely to use cash.

I’m in that demographic as are nearly everyone I know and none of them even carries cash. Even my ancient parents use a card for everything.

 

[japancool]

I’m in that demographic as are nearly everyone I know and none of them even carries cash. Even my ancient parents use a card for everything.

Many probably do now, and it's only the minority who use cash - but it's still the demographic that is most likely to use cash. I agree it makes little sense for shops not to accept cards. It's a false saving, given that banks charge for handling cash.

This report suggests cash usage could be nearly eliminated by 2026:

UK cash payments could be nearly eliminated by 2026

If the current trend of declining cash usage in the UK continues, the country could become an entirely cashless society in just five years, according to Merchant Machine.

eandt.theiet.org

 

[Newchodge]

My hairdresser rents a chair, as do the other stylists and beauticians in the salon. As each is self employed they would each need a card reader of their own, apparently. They all only take cash.

 

[simon field]

My hairdresser rents a chair, as do the other stylists and beauticians in the salon. As each is self employed they would each need a card reader of their own, apparently. They all only take cash.

Good old cash! And I would imagine that hardly anyone requests a receipt for a haircut, and that most people will round up for the tip (ie £27 haircut, hand over £30)

Just saying..

 

[japancool]

And I would imagine that hardly anyone requests a receipt for a haircut

Only politicians (and their wives):

Was it a haircut too far for Cherie?

It was scissors at dawn yesterday after it emerged that the Labour party had footed a £7,700 bill for Cherie Blair's hairstylist during last year's general election.

www.theguardian.com

 

[Blacklaw]

there are only certain businesses that can get away with it. If your fave chip shop or Chinese takes cash only, then you will accommodate this, but if like most people you don't use cash for anything else, it is highly likely that you will start looking for somewhere else that takes card.

I never carry cash anymore, so I wouldn't even go into a shop that is cash only.

 

[Dinky]

more to do with demographics than personal choice. People who use chip shops tend to be far poorer and don't have access to banking cards.

Depends where. Two portions of fish and chips around my neck of the woods would set you back close to £25 now days! Crazy bonkers.

 

[Berbinto]

I never have cash on me and only really use my phone to pay for stuff.
Speaking to a manager of a local coffee shop they went cash only during Covid and then returned to cash sales last year. They said it was easier and they didn't notice a difference when accepted cash.
It is slowly dying out.

 

[simon field]

I never have cash on me and only really use my phone to pay for stuff.
Speaking to a manager of a local coffee shop they went cash only during Covid and then returned to cash sales last year. They said it was easier and they didn't notice a difference when accepted cash.
It is slowly dying out.

People are withdrawing more of it than ever before!

 

[MBE2017]

Post Office report cash withdrawals up 20% on this time last year. A lot of people during tough times like cash, put so much in an envelope per bill, learning to live within their means.

 

[MOIC]

Or their credit cards are maxed out!

 

[Casually made]

I never have cash on me and only really use my phone to pay for stuff.
Speaking to a manager of a local coffee shop they went cash only during Covid and then returned to cash sales last year. They said it was easier and they didn't notice a difference when accepted cash.
It is slowly dying out.

I don't know why you sound like you think it's a good thing

 

[simon field]

---

There’s a whole economy based on cash. It’s not going anywhere anytime soon!

 

[Ozzy]

It very much depends on your industry and/or trade, and of course tax motivations in some instances.

For my business, being B2B, if a client ever wanted to pay in cash it would be a major inconvenience. We’d probably actually refuse and insist on bank payment only or charge a premium handling fee to be paid by cash (to be honest we’d probably refuse to work with them as we have strict compliance policies we have to abide by).

If you’re a household trades business accepting cash or card will be beneficial as you want it to be as easy as possible to be paid by all generations. Retail too would be similar, but sat in this cafe as I am now waiting for my meeting to arrive out of the last 10 or so customers none have paid with cash.

 

[japancool]

I had to pay with cash the other day when I left my phone in a taxi. It felt... embarrassing.

 

[Kerwin]

I had to pay with cash the other day when I left my phone in a taxi. It felt... embarrassing.

Talking of Taxis. How are you supposed to leave a tip if you pay by card / Apple Pay / Google Pay?

 

[UKSBD]

there are only certain businesses that can get away with it. If your fave chip shop or Chinese takes cash only, then you will accommodate this, but if like most people you don't use cash for anything else, it is highly likely that you will start looking for somewhere else that takes card.

I never carry cash anymore, so I wouldn't even go into a shop that is cash only.

Our local Chinese takeaway started taking cards during the pandemic but have now reverted back to cash only.

The thing is though, there are 2 late night stores that provide cashback and 2 ATM machines within 200 yards.

It works well, I go in place my order, then go and buy drinks from store (where it is far cheaper) get my cash and go back and pay for meal.

 

[Bob Morgan]

Talking of Taxis. How are you supposed to leave a tip if you pay by card / Apple Pay / Google Pay?

Use the 'Tommy Cooper Tecnique!' Apparently, Tom was cautious with money. Once with a Taxi Driver he handed him an envelope, saying "There you go, have a drink on me!" - Inside the envelope was a Tea Bag!

 

[Berbinto]

I don't know why you sound like you think it's a good thing

Personally, I do.
I hate cash and don't use it. However I can see that people on the lowest incomes depend on it.

 

[Alli10]

My local chippy is still cash only and I don't mind going to the machine to get the money if I don't have any on me. I would usually have some on me anyway. Old habit. Also, never used apple pay.

 

[Casually made]

Personally, I do.
I hate cash and don't use it. However I can see that people on the lowest incomes depend on it.

Democracy depends on it , handing over total control of money too the state paints a horrendous picture

 

[simon field]

Personally, I do.
I hate cash and don't use it. However I can see that people on the lowest incomes depend on it.

If you think that builders on £500/week on the books PLUS £1000/week cash are on the ‘lowest incomes’ then maybe have a rethink?

 

[Beautinow]

Cash is pretty must the past or soon to be past. If your business only accept cash, then people will only buy your goods or services, if no one else can provide or can not provide at a lower price.

 

[Newchodge]

Cash is pretty must the past or soon to be past. If your business only accept cash, then people will only buy your goods or services, if no one else can provide or can not provide at a lower price.

Or if they are perfectly happy to pay in cash, as many are.

 

[Berbinto]

If you think that builders on £500/week on the books PLUS £1000/week cash are on the ‘lowest incomes’ then maybe have a rethink?

I would never consider that "lowest incomes" I'm talking about the most vulnerable on benefits or below the poverty line living hand to mouth.

 

[japancool]

I would never consider that "lowest incomes" I'm talking about the most vulnerable on benefits or below the poverty line living hand to mouth.

Even if someone is on benefits, there is no reason why they have to be using cash. Anyone can get a bank account with a debit card and direct debits, as long as they prove their identity.

 

[simon field]

I would never consider that "lowest incomes" I'm talking about the most vulnerable on benefits or below the poverty line living hand to mouth.

Why not just use a debit card, it’s easier.

 

[Newchodge]

Even if someone is on benefits, there is no reason why they have to be using cash. Anyone can get a bank account with a debit card and direct debits, as long as they prove their identity.

For many people, that is not actually true, I am afraid. Someone with a poor credit history, which may be the case for many peope on benefits struggle to open a bank account.

 

[japancool]

For many people, that is not actually true, I am afraid. Someone with a poor credit history, which may be the case for many peope on benefits struggle to open a bank account.

You can still get a basic bank account, even with a poor credit history. Most are also fee free.

Basic Bank Accounts - Money Expert

Basic bank accounts are essentially current accounts with restricted features designed for those with bad credit. Find out exactly how they work here.

www.moneyexpert.com

For those with a REALLY bad history, there are credit checkless accounts, but I don't know how bad it'd have to be to be for you not to get a basic account. Natwest will give you one even if you're bankrupt.

 

[Paul FilmMaker]

I got far too many builders wrapped round me, to stop using cash, it's a problem.

Paying for the shopping in Tesco's with fifties, raises eyebrows now, it never used to!

If Gov updated the archaic VAT thing to something more sensible, there would be a lot less people flying under the radar!

I'm in video production and may / may not know a friend who was paid in cash for a video production job. This in the thousands. It was for a building company wanting to show off some seriously high end projects.

It was the first time I've ever seen a £50 note. I didn't even know what they looked like! (For my friend, of course).

 

[Kerwin]

Decline in cash use eases after pandemic slump

Although cards remain a far more popular way to pay, cash is a preferred option for many, a report says.

www.bbc.co.uk

Interesting article on cash.

 

[IanSuth]

Why not just use a debit card, it’s easier.

Easier for you not for all.

I absolutely hate using it on a night out, i know i will spend more if I have a card on me. That extra round of shots or some fast food on the way home.

My son would have used cash at uni for the same thing except there was a 10% discount for using your student ID to pay - so instead of linking the ID card directly to his bank account he used the other option of having a balance on it that needed topping up and set a really long complicated password which was enough to stop him transferring more when really drunk (he tended to get it wrong once then not be bothered to redo)

 

[simon field]

Easier for you not for all.

I absolutely hate using it on a night out, i know i will spend more if I have a card on me. That extra round of shots or some fast food on the way home.

My son would have used cash at uni for the same thing except there was a 10% discount for using your student ID to pay - so instead of linking the ID card directly to his bank account he used the other option of having a balance on it that needed topping up and set a really long complicated password which was enough to stop him transferring more when really drunk (he tended to get it wrong once then not be bothered to redo)

Same, but I really like spending more!

 

[japancool]

I absolutely hate using it on a night out, i know i will spend more if I have a card on me. That extra round of shots or some fast food on the way home.

But what about when you are *not* sh*tfaced?

 

[IanSuth]

But what about when you are *not* sh*tfaced?

I won't use it for low value purposes (both rugby clubs i go to have just placed £2 and £3 min use levels) due to charges for the merchant.

So a £20 shop yes fine - but quite honestly I would rather it was still all chip and pin. I prefer the security, if your card is lost stolen they can rack up a bill before you notice on lots of <£100 purchases and are unlikely to get anything spent before you notify them back.

 

[Nathanto]

an emergency tenner in the glove boxes of every vehicle but buy most things using a card, except booze!

It's not just me that does this then! ?
Similarly I use card for most things but always take a couple of hundred quid "just in case" out with me when we leave the house. Cash will be around for many, many years yet.

 

[Jasondb]

I use cards 90% of the time yet think we need cash too.

Not so long ago there were technical problems with banks and customers could not check their balances or use their cards. It took several days to fix.

Now this should not happen often yet just the other day another company a retail this time has a tech problem with transactions.

I think it is wise to keep at home in cash what you need for 2-3 days.

As others have said you can normally get by with cards in most places yet some continue to use just cash.

I would have thought wise to perhaps get rid of the higher notes if tax evasion is the main gripe.

 

[NewTime]

95% of the transactions I make are with card.

I got very anxious on night outs that I would give them money and walk away forgetting the change, then I startred using the card and don't have that worry.

If I know somewhere is cash only - I get £x out of the bank, the main worry is that there aren't many bank machines around. My hairdresser is both cash and card, but they get charged on card, so I get cash out.

But the fact we pay on card, is it an extra cost for us?