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The end of cash?

I am yet to come across a business that doesn't take cash, I think it should be illegal to refuse legal tender.

From your link.


"You might have heard someone in a shop say: “But it’s legal tender!”. Most people think it means the shop has to accept the payment form. But that’s not the case.

A shop owner can choose what payment they accept."
 
From your link.


"You might have heard someone in a shop say: “But it’s legal tender!”. Most people think it means the shop has to accept the payment form. But that’s not the case.

A shop owner can choose what payment they accept."

I know that, but I don't think it should be, there's vulnerable sections of society that struggle to budget unless they use actual cash, especially during this cost of living crisis, and I think businesses should not exclude them.
 
Again, that’s only in payment of debt already incurred. Nobody has to accept your coppers at a till. They can just refuse to serve you.
Is this why the supermarkets' petrol stations recently changed to debiting cards £100 by default? Wasn't there a fad amongst the FMoTL types for using commemorative coinage that was technically legal tender?
 
They probably would if they were stood behind him at a cashier who would have to physically count it. But I always thought the whole point of self scan was to get rid of unwanted coppers as they count it automatically!:D
Possibly for the customer but not the shop that just wants to get rid of staff.
 
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.
I've been refused a pint there because I'd forgotten my card, but then I'm not exactly a regular
 
Because banking cash is getting more and more of a pain in the arse. They keep closing branches. You can't just pop out and do it in your lunch hour any more.

Most banks have arrangements for banking & withdrawing cash at any Post Office, and there's plenty of them, around 11,500 branches.

 
Not even tap and go here with special request. As it was the staff member just waved a machine at my card 🙄
No, I cannot scan and pay
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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.
This, exactly. I haven't looked up business account charges for a few years now, but at the time it was a choice of low fees for cash and lube up for card payments, or vice versa. Anyone can open a business account that makes it cheaper to accept cards over cash. There is, of course, a "lol, pay up for both" option, but most businesses are going to take a guess at what's more practical for them and go that way. Increasingly, that way is card.
 
David Mitchell in the Guardian on this matter:


I think this is a fair point:
It potentially gives the state the physical power to stop us spending our money. Are we sufficiently convinced of the insuperable probity of our governmental system to be sure this power will never be misused?

Banks would also have that power and, as Nigel Farage’s spat with Coutts showed, are not above withdrawing their services capriciously. I don’t weep for his discomfiture but the notion of refusing someone an account because of their political opinions is horrific and all the more so when the expediency of a mattress full of bank notes is no longer viable.
 
I think the last time I used cash for anything was about 6/7 years ago.

It’s just so much easier to use Apple Pay…
 
I think the last time I used cash for anything was about 6/7 years ago.

It’s just so much easier to use Apple Pay…

I agree but I also think there is a lot to be said for protecting the right to use cash, not least for the elderly and even those too young to have a bank card. Also, as Mitchell points out - do we really want to live in a society where every transaction could potentially be controlled (deactivated) by the government/banks. And what happens in a power cut? Telecoms go down? I can tell you from experience when I was in Cannes one year at a big industry event following a storm, the entire digital payment infrastructure went down and suddenly thousands of visitors couldn't eat unless they paid in cash. The ATM's (those that worked) ran out of cash. It was a nightmare.

So I'm not comfortable with the idea of cash disappearing entirely. I think the right to pay with it should be protected.
 
David Mitchell in the Guardian on this matter:


I think this is a fair point:
I think it's a load of bollocks. Most of the money spent in this country is purely electronic B2B stuff. So what, you're afraid the government is going to stop all commerce from taking place? I think we'll be well into a purely despotic government long before that happens, and in that case I'd be more worried about being roused in the middle of the night for relocation than whether I can buy a pint of milk round the corner.

And denying someone an account is de facto denying them access to cash unless their savings are in a matress and they're ready to live entirely off grid. It's rather irrelevant to whether we use cards or not.
 
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This, exactly. I haven't looked up business account charges for a few years now, but at the time it was a choice of low fees for cash and lube up for card payments, or vice versa. Anyone can open a business account that makes it cheaper to accept cards over cash. There is, of course, a "lol, pay up for both" option, but most businesses are going to take a guess at what's more practical for them and go that way. Increasingly, that way is card.

Well exactly. Removing someone's ability to use their bank account is far more of a worry then the tokens we use to spend out money.
 
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