• Welcome to DOSBODS

    Please consider creating a free account to be able to access all the features of the DOSBODS community. It only takes 20 seconds!

Sign in to follow this  
Dave Beans

The incessant push towards a cashless society

Recommended Posts

40 minutes ago, Frank Hovis said:

My simple observation of people whom I know well is that those who usually pay with cash are wealthier than those who usually pay with card; this is because paying by cash works as an automatic budgeter as you always know how much you have left.  I'm not claiming the corollary that rich people use cash and poor people cards.

Banks, retailers and the government would love cash to be abandoned as it would mean we would all spend more, transaction processors would get their cut every time, and everything would be tracked and monitored.

A vision of this utopia was given recently when Tesco required their temporary staff to receive their wages onto a Tuxedo card; which charged a fee for each use so acting as another tax.

Cash is however incredibly useful and I do not see its demise as inevitable; rather that it will fall to a smaller (but not small) percentage of transactions and there it will stay. 

My regular non-investment outgoings each month are roughly 40% DDs (utilities etc.), 20% credit card (settled annually by cheque), and 40% cash.

That is much the most convenient way for me to handle costs and has been roughly the same for the last twenty years and will be roughly the same for the next twenty years.

Contactless, payment by phone etc. are all new technologies for those who want such things; but like paying your TV licence or income tax they are perfectly avoidable.

I agree.  The majority of the worlds population live below the poverty line.  I can't see them opening a bank account and been given a credit/debit card in the near future. 

A cashless society is very dangerous it gives government too much control of a persons life.  For example  If too many people decide to  immigrate or retire to a more favourable country then the government at a flick of a switch could only allow transactions from bank accounts to occur in the persons home country..

Edited by montecristo

Share this post


Link to post
Share on other sites
1 hour ago, Frank Hovis said:

My simple observation of people whom I know well is that those who usually pay with cash are wealthier than those who usually pay with card; this is because paying by cash works as an automatic budgeter as you always know how much you have left.  I'm not claiming the corollary that rich people use cash and poor people cards.

Banks, retailers and the government would love cash to be abandoned as it would mean we would all spend more, transaction processors would get their cut every time, and everything would be tracked and monitored.

A vision of this utopia was given recently when Tesco required their temporary staff to receive their wages onto a Tuxedo card; which charged a fee for each use so acting as another tax.

Cash is however incredibly useful and I do not see its demise as inevitable; rather that it will fall to a smaller (but not small) percentage of transactions and there it will stay. 

My regular non-investment outgoings each month are roughly 40% DDs (utilities etc.), 20% credit card (settled annually by cheque), and 40% cash.

That is much the most convenient way for me to handle costs and has been roughly the same for the last twenty years and will be roughly the same for the next twenty years.

Contactless, payment by phone etc. are all new technologies for those who want such things; but like paying your TV licence or income tax they are perfectly avoidable.

You must have good credit for a credit card company to allow you settle up annually. 

Share this post


Link to post
Share on other sites
6 minutes ago, The Generation Game said:

You must have good credit for a credit card company to allow you settle up annually. 

Vice versa actually; whenever I owe them anything I write them a big cheque which usually lasts a year or so.

I'm aware that some cards such as Barclay card don't allow credit balances but mine does. I started doing this for convenience when I was in temporary addresses so my post went to my parents' and it could be several weeks before I collected it so decided to pay it up front and they didn't question it.

I find a credit card useful but don't actually want it for credit.

Share this post


Link to post
Share on other sites
25 minutes ago, whitevanman said:

IMO going cashless is a signal that the end is nigh for a society. Sweden is leading the charge towards a cashless economy. Will it succeed or will it cease to exist as a nation before it can achieve its cashless utopia? It's a tough call. 

Properly cashless has real resonance of those dreadful visions of the future such as The Machine Stops, 1984, and your own They Live.  The extent of monitoring and control it would allow brings us all that much closer to being no more than farmed cattle.

24 minutes ago, sarahbell said:

I think we buy all our beer in cash. 

Awesome use of the word ALL there Sarah!

Share this post


Link to post
Share on other sites
17 minutes ago, SpectrumFX said:

They'll get to a cashless society in the end. Probably literally over our dead bodies.

The kids don't use cash for anything  we'll hold out, but once we're gone that's it for cash.

 

Not if we speak up and fight it. It needs defending as like Frank says :

 

1 hour ago, Frank Hovis said:

Properly cashless has real resonance of those dreadful visions of the future such as The Machine Stops, 1984, and your own They Live.  The extent of monitoring and control it would allow brings us all that much closer to being no more than farmed cattle.

It's just too important.

If cash is king, then all hail the king!

Share this post


Link to post
Share on other sites

Smart phones and the new 'app' generation has been a gift for tptb. Paying without cash has been sold to the young as fun and hip. Home/car automation - that's so cool and 'my' generation. The ability for a smart phone to be a 'spy in the pocket' and the loss of control over everything is something the young have no interest in. They will feel like right pricks when they hit their forties and realise they are trapped and controlled. They will blame our generation for allowing it to happen. 😁

Share this post


Link to post
Share on other sites
48 minutes ago, Carl Fimble said:

Not if we speak up and fight it. It needs defending as like Frank says :

 

It's just too important.

If cash is king, then all hail the king!

Important to us.

My grandfather never used an ATM.

He simply refused to, and continued to withdrawn his cash at the counter in the bank.

You can hold out as long as you like. Eventually it just seems wierd. And then you die, and there's nobody left holding out anymore.

Share this post


Link to post
Share on other sites
Just now, SpectrumFX said:

Important to us.

My grandfather never used an ATM.

He simply refused to, and continued to withdrawn his cash at the counter in the bank.

You can hold out as long as you like. Eventually it just seems wierd. And then you die, and there's nobody left holding out anymore.

I have always used cash and will always use cash however much the banks push the alternatives.

If society is cashless in two hundred years' time I'm not going to know or care.

Your grandad 100% succeeded in his goal of never using a cashpoint so by my reckoning he won.

Share this post


Link to post
Share on other sites
Just now, Frank Hovis said:

I have always used cash and will always use cash however much the banks push the alternatives.

If society is cashless in two hundred years' time I'm not going to know or care.

Your grandad 100% succeeded in his goal of never using a cashpoint so by my reckoning he won.

I think he'd be happy with that assessment of it.

xD

Share this post


Link to post
Share on other sites
2 minutes ago, SpectrumFX said:

Important to us.

My grandfather never used an ATM.

He simply refused to, and continued to withdrawn his cash at the counter in the bank.

You can hold out as long as you like. Eventually it just seems wierd. And then you die, and there's nobody left holding out anymore.

Speak to the young, speak to everyone. People need waking up about a lot of stuff, the take over of our country and this being probably the top two things to focus on. So many have given up, not all that many need to stand up and speak. There's more than enough reason for us to try, and enough information available to calm peoples fears. Young people while (probably) being fine with plastic, are less tuned into TV and supposedly more right wing. 

I dunno, mad time in history to be alive...

3 minutes ago, Frank Hovis said:

I have always used cash and will always use cash however much the banks push the alternatives.

If society is cashless in two hundred years' time I'm not going to know or care.

Your grandad 100% succeeded in his goal of never using a cashpoint so by my reckoning he won.

You can win too, or fuck the future...

Share this post


Link to post
Share on other sites
3 hours ago, Frank Hovis said:

My simple observation of people whom I know well is that those who usually pay with cash are wealthier than those who usually pay with card; this is because paying by cash works as an automatic budgeter as you always know how much you have left.  I'm not claiming the corollary that rich people use cash and poor people cards.

 

I find customers under 30 and older people with 'London' jobs often don't have cash (generally £45 in my case) even though there is normally a week + between booking and doing the job and it is obvious I am a sole trader without card facilities. It's a PITA having to spend time physically paying in cheques and checking multiple  BACS payments against the books. Always cash in rougher areas.

Share this post


Link to post
Share on other sites
1 hour ago, Caravan Monster said:

I find customers under 30 and older people with 'London' jobs often don't have cash (generally £45 in my case) even though there is normally a week + between booking and doing the job and it is obvious I am a sole trader without card facilities. It's a PITA having to spend time physically paying in cheques and checking multiple  BACS payments against the books. Always cash in rougher areas.

I had a look at installing a portable card machine for the family business.  The fees that providers wanted for handing the transaction made it prohibitive...

Share this post


Link to post
Share on other sites
2 hours ago, SpectrumFX said:

The shit new plastic money puts me off using cash. It all sticks together.

Part of me thinks it's shit on purpose.

Oh I'm absolutely convinced that you're right. New banknotes are literally repellent; they resist being held, or handled.

Share this post


Link to post
Share on other sites

The new £20 note is designed and they have announced its release will be in 2020 - more like next year! Most trades have around £10k of twenties under the bed. They are going to get a shock when the release date is brought forward and they find themselves with only a few months to spend or lose it.

Share this post


Link to post
Share on other sites
5 hours ago, Dave Beans said:

I had a look at installing a portable card machine for the family business.  The fees that providers wanted for handing the transaction made it prohibitive...

What were they asking? I pay just under 2% which, whilst excessive, is the price I am willing to pay to ensure almost instant cash flow.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.