6,285 posts
Member is Online
|
Cash
Feb 21, 2024 15:20:21 GMT
Post by Jon on Feb 21, 2024 15:20:21 GMT
As someone normally sensitive to casual ageism, I can't say I have detected any in this thread. Plenty of older people embrace change and new technology when there are clear benefits. As for the risks of electronic payments, the test should not be "is it risk-free?", but rather "is it safer than cash?", and, if it's not, are any additional benefits worth the increased risk? In my own experience, I have several times in my life lost cash or had it stolen. I've had a few attempts to wrongly debit my card accounts, but all were quickly resolved. I have also had the ability to force a refund on many occasions when goods/services were substandard from uncooperative retailers, something that would have been impossible with a cash payment. I have also made thousands of pounds worth of purchases in foreign currencies at almost the spot (interbank) exchange rate. Getting foreign cash would have cost me 3-5% of the purchase price. Both card and cash have risks attached. Anyone carrying wads of cash around with them is an easy target for pickpockets and scammers. Alan Bennett got robbed for £1000s after being targeted after going to the bank. Perhaps I'm being cynical but I think if a business is struggling then going cash only isn't really going to help their finances and then because cash only businesses have a reputation of being money laundering fronts then people won't use them anymore. I think cash will be phased out but not in this decade or even the next decade.
|
|
|
Cash
Feb 21, 2024 15:28:08 GMT
Post by sph on Feb 21, 2024 15:28:08 GMT
I find right-wing media stations to be a little disingenuous in their support for keeping cash though, clearly just pandering to their core demographic who desperately want to keep things like the "good old days". That is just lazy somewhat ageist left-wing stereotyping - have you actually watched GB News and seen what arguments they are putting forward ? Their core audience is older than some other stations but the fact the charity Age UK are also campaigning for cash to be retained should indicate to you that maybe there are some valid reasons that older people want to retain cash. Actually there's also seems to be a hint of conspiracy theory about it too - the demonstrators I saw were also campaigning against plans for a government-backed digital pound. But what are those valid reasons? I certainly couldn't find any. I'm not saying I want cash to disappear, nor do I expect it will in my lifetime at least. However, I do object to people arguing with businesses who do not accept it. As for ageism, what I said is less about age and more about how a key part of right-wing media is trying to suspend in time an image of Britain and the world which no longer exists, and instilling a fear in people who watch that this "ideal" Britain filled with all the usual British paraphernalia is somehow being taken away from them. How do you think we ended up with Brexit etc? "The immigrants are coming for your jobs! The trans people are coming for your bathrooms! The gays are coming for your kids! Meghan Markle is coming for your Royal family!" And people buy into it. Cash will inevitably become less common, but it isn't the end of the world. People are just naturally resistant to change. I'm glad I wasn't alive to see the reaction people had to decimalisation...
|
|
5,426 posts
Member is Online
|
Post by oxfordsimon on Feb 21, 2024 15:29:26 GMT
I would be very sad to see cash eliminated. Coins and notes are a big part of our culture and heritage. So's slavery but luckily that doesn't exist now either. Go check the statistics about modern day slavery and then come back to say sorry.
|
|
6,285 posts
Member is Online
|
Cash
Feb 21, 2024 15:36:45 GMT
Post by Jon on Feb 21, 2024 15:36:45 GMT
I think the problem with articles saying cash has increased is that it doesn't paint the full picture. Perhaps people are using more cash along with card and contactless but I doubt they're abandoning card and contactless altogether.
|
|
|
Cash
Feb 21, 2024 15:37:55 GMT
via mobile
Post by theatrelover97 on Feb 21, 2024 15:37:55 GMT
As someone normally sensitive to casual ageism, I can't say I have detected any in this thread. Plenty of older people embrace change and new technology when there are clear benefits. As for the risks of electronic payments, the test should not be "is it risk-free?", but rather "is it safer than cash?", and, if it's not, are any additional benefits worth the increased risk? In my own experience, I have several times in my life lost cash or had it stolen. I've had a few attempts to wrongly debit my card accounts, but all were quickly resolved. I have also had the ability to force a refund on many occasions when goods/services were substandard from uncooperative retailers, something that would have been impossible with a cash payment. I have also made thousands of pounds worth of purchases in foreign currencies at almost the spot (interbank) exchange rate. Getting foreign cash would have cost me 3-5% of the purchase price. Both card and cash have risks attached. Anyone carrying wads of cash around with them is an easy target for pickpockets and scammers. Alan Bennett got robbed for £1000s after being targeted after going to the bank. Perhaps I'm being cynical but I think if a business is struggling then going cash only isn't really going to help their finances and then because cash only businesses have a reputation of being money laundering fronts then people won't use them anymore. I think cash will be phased out but not in this decade or even the next decade. I wonder of more people in the UK would boycott a cash only bussiness to a card only one. Both are probably about as common as each other in terms of number of establishments. I am not sure Cash is going anywhere if the current revival continues.
|
|
|
Cash
Feb 21, 2024 15:39:36 GMT
via mobile
Post by theatrelover97 on Feb 21, 2024 15:39:36 GMT
I think the problem with articles saying cash has increased is that it doesn't paint the full picture. Perhaps people are using more cash along with card and contactless but I doubt they're abandoning card and contactless altogether. For many people they don't come into contact with inperson cashless bussines very much. So card usage becomes mostly restricted to online activities.
|
|
|
Cash
Feb 21, 2024 16:03:33 GMT
Jon likes this
Post by sph on Feb 21, 2024 16:03:33 GMT
One thing I will say, is that I think any shop/cafe/venue etc that only accepts either one or the other, should clearly state as much before the customer reaches the point of sale.
Theatres do generally state card-only in a welcome email, but how many people read those in detail?
|
|
31 posts
|
Cash
Feb 21, 2024 16:04:39 GMT
Jon likes this
Post by Cleo on Feb 21, 2024 16:04:39 GMT
I am happy to use both cash and card and in independent shops, I ask their preference which is usually card payment. A local bakery posted on their social media page a response to those complaining that they do not accept cash due to: hygiene, combined costs of paying in cash to banks in addition to card transaction charges, and security by not having to find a safe place to keep cash overnight. When I use the bus I use cash but the majority use their phones if they do not have passes.
As an aside the Royal Shakespeare Theatre is card only.
|
|
6,285 posts
Member is Online
|
Cash
Feb 21, 2024 16:08:20 GMT
Post by Jon on Feb 21, 2024 16:08:20 GMT
One thing I will say, is that I think any shop/cafe/venue etc that only accepts either one or the other, should clearly state as much before the customer reaches the point of sale. Theatres do generally state card-only in a welcome email, but how many people read those in detail? If you book online, theatres do tell you if it's cashless or not, cinemas is 50/50 as some do and some don't. There are cons of being cash only as you need to hire a security firm to transport money to banks. Of course, if you're a small business then perhaps you or someone else can do it for you but generally speaking, if you're making lots of money per week then you wouldn't just be cash only. Weirdly while I mostly use card for payments, I still have an Oyster card which I top up every couple of week even though it's easier to use to card or contactless.
|
|
|
Cash
Feb 27, 2024 20:10:44 GMT
via mobile
Post by theatrelover97 on Feb 27, 2024 20:10:44 GMT
|
|
4,950 posts
|
Cash
Feb 28, 2024 9:01:43 GMT
via mobile
Post by TallPaul on Feb 28, 2024 9:01:43 GMT
Those figures from Barclays need to be taken with a generous pinch of salt.
80.1% of 85 to 95 year olds don't do their own shopping, so goodness knows how they're managing to use contactless so often!?!
|
|
353 posts
|
Post by lichtie on Feb 28, 2024 11:43:59 GMT
The same way my mum used to do it (she was in her late 90s) - she gave the card to my brother to buy stuff for her...
|
|
|
Cash
Feb 28, 2024 12:58:20 GMT
Post by sph on Feb 28, 2024 12:58:20 GMT
Yes, and those in their 80s who are mobile enough to go out shopping for themselves are capable of tapping a card, so those figures don't surprise me.
|
|