hash tag
Books, not bombs
In a word profit. Use a card, we get paid a fee and our profits grow.
The end of cash?
- Thread starter danny la rouge
- Start date
marty21
One on one? You're crazy.
They may take cash from regulars tbf , my local pub in Hackney is card only but they probably would take cash from me & I know they do for a few of the regulars.
UnderOpenSky
baseline neural therapy
I'll pay for my pint in 1 & 2p's then?
UnderOpenSky
baseline neural therapy
So why are business choosing to go card only?
hash tag
Books, not bombs
London transport does not take cash anymore; oysters or tap and go.
PR1Berske
Alligator in chains by the park gates.
Maximum payment in coppers is £1.
UnderOpenSky
baseline neural therapy
Kevbad the Bad
Amiable Bowel Syndrome
So it's Wetherspoons then.
NoXion
Craicy the Squirrel
It's my impression that businesses are citing the cost of handling card transactions as a reason for encouraging their customers to use cash, or for only accepting cash.
NoXion
Craicy the Squirrel
Right. So they are more interested in making money than in pushing everyone to go cashless. If the evil globalists really wanted to get rid of cash, then they'd lean on the card providers to change their way of doing business to make accepting cards more attractive than handling cash, even for smaller businesses.
NoXion
Craicy the Squirrel
I wonder how many of those businesses are on the larger side. I suspect that there is an inverse relationship when it comes to the costs incurred by cash handling. Larger organisations will have to have staff trained and vetted for the task, while smaller operations can get away with the owner doing all of the work of carrying the cash to the bank.
Monkeygrinder's Organ
Dodgy geezer swilling vapid lager
I might give reading about the 'cryptocurrency rebels pushing back' a swerve tbh.
Maggot
The Cake of Liberty
But banks charge for handling cash too.
NoXion
Craicy the Squirrel
Yes, but correct me if I'm wrong, the way the charges are structured means that it is cheaper on a per-transaction for smaller businesses to handle cash rather than accept card payments.
UnderOpenSky
baseline neural therapy
I had to give a colleague some money today, they don't have a credit card machine so I gave them cash.
No worries.
They don't havw a bank account?
weltweit
Well-Known Member
Yes, they do almost certainly but I don't think doing a bank transfer would be as simple as just handing over a note and some coins.
No.
It is and should remain up to you what you’re willing to accept as the terms of your trade.
It’s worth remembering that only 4% of GBP is held in the form of cash. 96% is just in the form of a recording on some ledger somewhere. I suspect that this underlies the reason for the popularity of non-cash payments amongst banks, businesses and consumers alike. It makes that 96% directly accessible without having some barrier between the money and the transaction.
emanymton
A cat politely sat on the flaming gardener.
In my experience it is mostly smaller business that are going card only. I think this is due to the extra logistics needed for cash and it just is not worth it for a very small number of customers who can only pay in cash.
But then It is also small business that I see to be cash only. I would guess it depends on ther individual customer base which side they fall on.
Most just do both anyway.
emanymton
A cat politely sat on the flaming gardener.
I get really uncomfortable with the idea that anyone should be forced to do something just because someone is willing to pay them.
brogdale
Coming to terms with late onset Anarchism
Oyster top ups can be made in cash.
UnderOpenSky
baseline neural therapy
Oh. Each to their own. I find getting my phone out my pocket much easier then going to the cashpoint.
Banks are certainly not lovely fluffy kittens, but going cashless (or reducing the % of cash payments) is not necessarily an attempt by the banks to squeeze more money.
Cash handling in a business is anything but "free". Hence why that boomer post about paying with a banknote and it going through loads of businesses and still holding its value is bollix.
Cash handling in a business is anything but "free". Hence why that boomer post about paying with a banknote and it going through loads of businesses and still holding its value is bollix.
This was a few years ago and may have been complicated by their charity status, but when I worked for a cash-only small business the manager said something about the different options for opening a bank account would either let them take cash or card payments without extortionate charges, but not both.
ruffneck23
front left
There is a coffee shop in Leatherhead that is now 'Cash free'
and 'The Cricketers ' pub in Downside / Cobham hasn't taken cash since lockdown.
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cupid_stunt
Chief seagull hater & farmerbarleymow's nemesis.
It's actually just 20p.
There are also some restrictions when using small coins. For example, 1p and 2p coins only count as legal tender for any amount up to 20p.
What is legal tender?
Many people are confused about what legal tender means. It’s actually about settling debts rather than how you can pay for things.www.bankofengland.co.uk
ruffneck23
front left
I've paid at a scab till in 1 & 2ps before, it didnt seem to mind.
Elpenor
Dancing as fast as I can
I used to do that years ago when I tended to have lots of coppers
mojo pixy
...שלא נמצא בשמאל
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