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Re: Cash? You want cash?

Posted: Tue Aug 10 2021 11:13am
by pabenny
I know you mean well and your heart is in the right place. But it's a bit like King Canute and the waves to believe we can prevent the decline of cash, however good the motivations might be trying to retain cash.

Re: Cash? You want cash?

Posted: Wed Aug 11 2021 9:01am
by blythburgh
I am not saying you should use have to use cash but that big shops especially should give us the right to use cash. It should not be difficult to find a supermarket etc checkout that accepts cash. And if it costs them money what about the cost of delivery and click & collect? They might charge for this but it does not cover the costs.

Re: Cash? You want cash?

Posted: Wed Aug 11 2021 9:03am
by blythburgh
pabenny wrote:
Tue Aug 10 2021 11:02am
blythburgh wrote:
Tue Aug 10 2021 9:40am
.. but due to covid the amount of cash charities have raised has crashed badly...
Not true.

Clearly some charities are struggling, but overall, according to Charities Aid Foundation, donations in first half of 2020 were up by £800 million - an increase of 17% on the prior year. (that seems to be the most recent data - their 2021 report is due soon)

Undoubtedly some forms of fund raising have suffered - charity shops, sponsored event such as marathons. According to CAF, some causes, notably medical research, have also seen a drop in income
But if you are a small charity then you cannot afford the advertising that brings in the extra money. Those boxes in shops do bring in money they find it hard to raise in other ways.

Re: Cash? You want cash?

Posted: Wed Aug 11 2021 10:36am
by expressman33
My son-in-law went to Madonalds a couple of weeks ago but when he went to pay his card was declined . The bank had apparantly put a stop on his card due to a "suspicious transaction" which turned out to be a transaction he did been doing regularly for years . This wouldn't happen with cash.

Re: Cash? You want cash?

Posted: Wed Aug 11 2021 10:55am
by pabenny
A few weeks ago, I had a power cut and my lights wouldn't work. That wouldn't happen with candles.

Re: Cash? You want cash?

Posted: Wed Aug 11 2021 11:25am
by macliam
pabenny wrote:
Tue Aug 10 2021 11:13am
I know you mean well and your heart is in the right place. But it's a bit like King Canute and the waves to believe we can prevent the decline of cash, however good the motivations might be trying to retain cash.
Only a fool would deny the decline in cash usage and the increased use of plastic/online payments. I use plastic for the majority of purchases ( not least due to the cashback element), but I retain cash as a backup option - and I think this is not uncommon. However, this is my choice and I would be less than happy to see the option disappear. I am also concerned at the data tracking opportunities my usage of plastic hands to the card providers. The anonymity of cash is a major advantage - even to the extent that some countries (Portugal is one) impose relatively low limits on the legality of cash transactions, requiring any major purchases to be recorded via online or plastic.

Likewise, I cannot see the major currency providers being happy to pass control to non-governmental companies, any more than being happy for other organizations to produce banknotes. Whilst the Euro countries have been prepared to cede their individual currencies to the ECB, they retain some control over the merged currency. However, the UK and others were not prepared to take this step and lose the notional "control" over their currencies - so why would they be prepared to cede control to any private organization?

Re: Cash? You want cash?

Posted: Wed Aug 11 2021 11:27am
by macliam
pabenny wrote:
Wed Aug 11 2021 10:55am
A few weeks ago, I had a power cut and my lights wouldn't work. That wouldn't happen with candles.
It would if you didn't have any!

Re: Cash? You want cash?

Posted: Wed Aug 11 2021 11:55am
by expressman33
pabenny wrote:
Wed Aug 11 2021 10:55am
A few weeks ago, I had a power cut and my lights wouldn't work. That wouldn't happen with candles.
At least you have the option to use candles . If a retailer won't accept cash and your card doesn't work you are stuffed.

Re: Cash? You want cash?

Posted: Wed Aug 11 2021 1:44pm
by Sarah
In most situations a second card is an adequate backup for your main card not working. Scenarios in which multiple cards don't work obviously happen but are relatively rare; it's still more likely you need cash where cards aren't accepted yet than because of faults.

Re: Cash? You want cash?

Posted: Wed Aug 11 2021 3:30pm
by pabenny
macliam wrote:
Wed Aug 11 2021 11:25am
I am also concerned at the data tracking opportunities my usage of plastic hands to the card providers. The anonymity of cash is a major advantage - even to the extent that some countries (Portugal is one) impose relatively low limits on the legality of cash transactions, requiring any major purchases to be recorded via online or plastic.
There are two sides to that - on the one hand we all cede some privacy; on the other, the lack of anonymity makes it harder for criminals to hide their activity or to launder funds..
Likewise, I cannot see the major currency providers being happy to pass control to non-governmental companies, any more than being happy for other organizations to produce banknotes...
We do allow non-governmental organisations to produce banknotes - Bank of Scotland and RBS. M-Pesa is a defacto non-government currency in several African countries. And there have been various attempts at local cash such as the (now defunct) Bristol Pound

I'm not sure about passing control either ... governments have quite substantial control over the banks and the banking system, either directly through regulation or through the Bank of England. Arguably, cashless society gives government more opportunities for control, since every transaction is recorded.