Cashless Society?
Whistlefish Galleries sell paintings, prints, greetings cards etc in Padstow and St Ives. They have now stopped accepting cash payments because of the difficulty of finding local bank branches to pay cash into.
A sign of things to come?
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I got the impression that the older local people weren't too keen.
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I have to say I don't use much actual cash these days. Yesterday I paid £1 for parking and purchased £2 worth of raffle tickets at our pensioner meeting and that was probably the first time I used cash for a couple of weeks.
David
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I never use my debit card for anything except drawing out cash. I use my credit card for larger purchases, say £30+ , or online purchases where there is no choice but pay it off at the month end. I've never paid for anything using a mobile, I wouldn't know how to. For everything else, cash is king...... no cash = no sale.
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I don't use cash much, either - other than for very small amounts. Trouble is, when paying by card the amount I'm paying hardly ever seems to register with me. I just put the card in the slot, press the bottons and walk away with my purchase. So don't ask me how much a loaf of bread or a bottle of milk is - I haven't a clue
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I tend not to use a debit card in the pub but otherwise rarely use cash especially if it is over £3.
Can't see the logic of using an ATM for drawing out cash and then immediately using it for purchases where you could use the card anyway.
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Cash handling in quantity comes with a cost as well. Having said that, I operate the same way as Justus2 and I'm an ex banker.
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I somehow doubt that cash will go out of fashion anytime soon but the day will no doubt come. I am sure the resistance will come from the current older age group but as they move on the idea of a cashless society gather momentum and I expect that electronic payment systems will overtake the use of cards which in turn will become a thing of the past?
David
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I am sure the resistance will come from the current older age group.
There are some things where cash is the obvious, simple answer.
Garage spends half an hour doing me a favour and refuses payment. I pass the chap a tenner and say treat the grandkids as he has done me a number of similar favours over the years.
Drop my youngest off at a chippy whilst I wait with the car and grandkids 'here pet take it out of this'.
Neighbour owes me for some stuff ordered online or I owe him for paying for grass cutting/window cleaning. Quick phone call, meet at the wall and square up.
I knock a motorbike off its stand. Cost of damaged part £30. I apologise and give him £75 (my wallet was running low).
Drop some money into a collection box.
Throw some cash into the pot after dining out with friends.
Christmas box for window cleaner.
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Paying over with cash is a good way to check spending, I feel if we lose sight of real money we'll have more debt problems (presumably the banks have a few debts so they're removing their banks to avoid any customer contact at all.....
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I hardly ever use cash these days. The only time I get cash is when someone hands it to me. I hardly ever take out cash from a machine. I do nearly everything by debit card or by Android pay. It's got to a stage now where no-one tries to sell me a raffle ticket as I've never got the money... 😀😆.
David
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I have all my accounts organised in a computer programme which I have the Android version on my phone. If I go to Asda (or the like), the first thing I do when I get back to the car is add the spend to my account on the phone. I've even been known to update my account as I walk around town. The computer programme deals with Direct Debits and Standing Orders automatically.
We do a similar thing with our diaries as well. If I'm at a meeting and a date comes up, I enter it in the diary and Carol can see it straight away, automatically at home.
David
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Brue you echo my fears. I do use debit and credit cards (paid off in full monthly) as well as cash. I always take my receipt and keep an account book recording spending - sad I know but also quite interesting to look back at outgoings over 40 years, nothing in the way of household costs have reduced 😉. I then balance my bank statement to my book and when it does I throw unwanted receipts away. I do similar with the credit card. By doing this I feel in control of my finances. If you have a purse/wallet full of cash you can see and count at a glance whether you have enough money for the amount of month left.
I am amazed nay gobsmacked at the folks who just wave their cards for small amounts (they mount up quickly) and don't take receipts. So many folks I worked with over the years never check bank or credit card statements 😲.
If I handover cash I count my change 😉 and I can tell you how much my bill was as I walk out the door. If I've done a bigger shop and pay be card I glance at the amount to check it agrees with till figure if necessary, PIN take receipt and out. Ask me as I walk away how much my bill was and you'll be greeted with a blank stare and mental scrabbling.
I can only see it increasing personal debt levels, perhaps that what those in charge are hoping for - vast profits on the interest, deep misery for individuals. There is nothing tangible it's all virtual.
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I always ask for receipts Bakers2. It certainly has not caused me to have debt - I always keep credit cards at zero and only ever use them for convenience - e.g. I use a Halifax credit card for ordering music from the USA as I avoid extra charges. No problems with reconciling my accounts.
David
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We also rarely use cash. Small shops / market stalls being the exception. Just talking with the owner at our village veg shop. Although he does on line payments for deliveries, the size of his business just does not make it cost effective to install a machine for card purchases. I guess this is likely to be the case for a lot of small shops, so can't see cash disappearing any time soon.
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Whilst I can accept that the use of credit cards could easily lead to increased personal debt, surely the use of a debit card cannot. If the money is not in the account then the debit card won't be accepted.
People just need to learn to cut the coat to suit the cloth
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I don't keep a seperate account of spending. Although we have never been prone to spending on whim and have always kept within our means. I do keep a close eye on all our accounts via phone apps, so would be aware fairly quickly if anything looked out of place. Also when the paper copies come in I do scan through them to check I can account for everything on them and the amounts look right. I don't check their adding up however, as I am prepared to accept that is correct. Of couse if the figure for any reason did not look sensible (never happened) I would investigate further.
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I've stopped all paper statements now. I just get an email from the bank to say the statement is available on line. I log in and reconcile it against my computer accounts and download a digital copy of the statement which are kept in folders with all the statements for that particular account. I've been doing it like this for 10 years or so. P.S. All the documents and files on my computer are backed up to online storeage in case of computer failure. This also means I can also access any files on my computer from my phone.
David
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Never have paper copies of statements through the post, have online account and the option to print off any pdf's if needed.
Rather than have an online statement a mile long with coffee @£1.20, sweets @£2.46, sausage roll at @£0.99 (probably itemised by shop name) etc etc, I am happy to draw out £100 from an ATM to purchase these small things. It also allows my online statement to be short, concise and easily read.
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I'm paperless with the bank, I don't keep accounts, they're in my head, I just look in on the bank every day to check all is ok. I do like cash though, I use ATMs, it's a bit of an interest for me as our first order at work was to produce parts for ATMs. I was watching one being cleaned out the other day (literally, yes they get hovered!) and the design has changed a lot over the years but still a useful concept.
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I think cash still has a relevancy, particularly for small independent shops. They've had to take a reduction in their income as credit and debit card charges have been reduced, so I always try to pay for anything under £20 in these shops with cash. Plus it's important for small towns and communities to retain banks, as the closure of them can have devastating effects on trade.
However, I'm sure DK is right. Eventually cash will be but a distant memory but I think I'll still be using it until I go.
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I've kept detailed accounts ever since I've been married. In the early days it was in a handwritten form now it's all done on the computer. It's all very detailed.....but that's just me. If it was left to Carol, I'm sure she wouldn't do it.
David
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Will admit that I tend not to use cash much now, although I went to our local community market last night so did take extra cash.
It must be getting more and more difficult for shops and retailers in small town's , as the banks are still closing lots of branches leaving small towns with no bank at all. They may have to travel long distances to bank takings.
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Not more than a few years ago. Probably 2015. It was a large kawasaki and probably at least 25 years old (lovely condition) the guy in his 30s had stripped it right down and rebuilt it. First run out with a mate on pillion for a coffee in a nearby cafe. He was, understandably upset. I suppose hopping mad might cover it
I asked him to go for a walk around the block whilst his mate stayed with me to make sure I did not do a runner as I assured him that I had no intention of leaving until it was sorted and he was happy.
He did walk round the block and returned calmer to find me and his mate talking about bikes. I asked him if he had a trusted dealer as he had obviously done a lot of work on the bike and it turned out he had their phone number on his mobile. I asked him to carefully check all damage and the three of us went over the bike, No fairing and the damage was limited to a bent front brake lever. Dealer had one in stock for £30. Quick fix. I opened my wallet and offered him all the cash that I had. I asked him if the extra £40 would compensate for his trouble and buy a pint for him and his mate. I also apologised that my wallet was a bit lean.
He was a bit unlucky as I usually have plenty of notes in the glove box and would have happily given him a round hundred as I remembered how I felt when a woman reversed into my new motorbike with less than 10 miles on the clock. He was fairly happy though in as much as we parted on good terms.
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(Thinking more of other types of shops.)
