Hmm…!
The end of cash?
- Thread starter danny la rouge
- Start date
Winot
I wholeheartedley agree with your viewpoint
Did the builder have a minimum spend for using a card? You should have added on a conservatory or something.
lazythursday
Averagely-Known Member
Unsurprisingly, I also learned to budget by having cash in my hand, given that we are of similar ages. But I have since adapted to a more convenient form of payment - and budgeting. It's not so hard to keep an eye on a spending pot in an app. Perhaps depends how long you have spent in said pub, but in such circumstances I would be more likely to lose those coins staggering home.
moochedit
I'm not feeding seagulls
Bacs?
How would that work in a chippy? They give you their sort code and account no? Do you get an invoice? 
Wouldn't that take ages to verify it had worked?Not triggering. But if they don’t take card I’m not going there. Is 2024 FFS.
UnderOpenSky
baseline neural therapy
Bacs?
Pretty much. There's a Chinese near me that does this. And yes. It's a ball ache.
UnderOpenSky
baseline neural therapy
Even better with banks like Starling and Monzo with spaces/pots which you can have a virtual card on.
brogdale
Coming to terms with late onset Anarchism
Feeling a bit Grand-daddy here, but what does this mean?
Silas Loom
Hated by both sides
But like parking apps, much less of a ball ache for regulars. Interesting that cashlessness is going this way.
moochedit
I'm not feeding seagulls
Tbf a lot of banks use "faster payments" now which is faster than bacs and the shop owner might have a smartphone banking app with "instant" transaction alerts. Still seems a bit of a faff compared to using contactless though. Guess they really prefer cash though.
lazythursday
Averagely-Known Member
It basically means you can have a kind of sub-account 'pot' with money allocated to it. So PR1Berske could have an electronic pot for all his month's pub spending, always live and up to date, so he would be able to carefully budget his allocated pints without needing a pocket full of loose change.
brogdale
Coming to terms with late onset Anarchism
OK, thanks for that. It was the virtual bit that confused me, I think. This just sounds like the old 'I'm only taking out £20 in my pocket' move to limit spending, then?
lazythursday
Averagely-Known Member
The virtual bit is that you can create a 'card' on your phone that links to the pot. So you can have a pub spending card.
But yes it's not dissimilar to old methods of budgeting. The fact that cash was easier to budget with used to be a good reason for sticking with it but now with modern banking apps this is much less true.
brogdale
Coming to terms with late onset Anarchism
Yeah, i can get that, but it does, of course, assume that you have online banking, a smartphone, and app and the ability or willingness to adopt and use all of that.
lazythursday
Averagely-Known Member
Yes of course. But smartphone adoption is up to nearly 90% now. Are there still bank accounts that don't offer online banking?
moochedit
I'm not feeding seagulls
I doubt it. There are people that don't want to use it though. (Not me i couldn't do without it).
brogdale
Coming to terms with late onset Anarchism
Yeah, I totally accept the numbers, but I reckon the reality on the ground is a bit more nuanced. I have a bank account that has online capability (I suppose they all do?) and I have used that functionality a few times to check balance etc. But, for how I choose to conduct my finances I prefer to withdraw specific sums of cash (atm/cash-back) to enable budgeting on a low income. So, if asked by pollsters etc. I'd have to respond yes, I have a smartphone, yes, i have online banking etc. but I don't feel comfortable or willing to use either for my banking. I think the crude numbers may hide quite a lot of behaviour like mine? I certainly don't (knowingly) have a bank's app.
UnderOpenSky
baseline neural therapy
lazythursday has explained it well, for me it's a great method of budgeting. I can have small and not so small pots for everything, which money is automatically transferred to when I get paid. Right down to individual spaces for things like car maintenance, insurance, monthly direct debits (which can be paid from the space). Not every one has its own card, but I've got a "fun" space for things like booze and takeaway, which is separate to the one I get groceries from.
The majority of traditional banks still don't offer this on their online banking, but I'm sure they will.
Silas Loom
Hated by both sides
What do you fear that the banks will do with that information?
Elpenor
Dancing as fast as I can
laugh in a braying fashion at my shopping habits
lazythursday
Averagely-Known Member
I think you're absolutely right that the raw numbers hide the fact that some people can't use the facility for one reason or another. That number is likely falling year on year though.
Silas Loom
Hated by both sides
laugh in a braying fashion at my shopping habits
I’d actually written a whole scenario where they did just that, in a panelled room wearing stove-topped hats, with particular reference to mistaken DIY purchases, but I was scared it would look like cross-thread beef and so I deleted that bit.
Elpenor
Dancing as fast as I can
Congratulations on the partial restraint
Sasaferrato
Super Refuser!
Yes, if I pay cash for a big amount, I always ask if there is a cost difference between cheque/card and folding stuff. Due to payment method, the new radiators went from two grand to eighteen hundred.
Silas Loom
Hated by both sides
Yes, if I pay cash for a big amount, I always ask if there is a cost difference between cheque/card and folding stuff. Due to payment method, the new radiators went from two grand to eighteen hundred.
There must have been quite a lot of labour or margin on the radiators, then.
brogdale
Coming to terms with late onset Anarchism
Yes, but I can use the facility; I just choose not to. Looking at the ever lengthening queues for the cash scabs I sense that there may be plenty of others doing the same?
Sasaferrato
Super Refuser!
He came. He flushed the system, he fitted mounting boards for the new radiators, fitted radiators, refilled system after putting in anti-corrosion gubbins, cleaned up after himself and was gone. In seven hours. The previous radiators were singles, the new ones are doubles. It is no end warmer since it was done.
Elpenor
Dancing as fast as I can
Maybe we should get rid of pavements as most people have cars nowadays
ska invita
back on the other side
Help me work this out....
if there is an island with a million pounds of cash circulating on it and no outside money comes in or out, that money would just go round and round in some fashion.
if there is no cash but the million pounds is held digitally and every time there is a transaction 1% is taken off and given to person outside the island (peter thiel) over time the amount of actual money on the island would reduce to zero. Is that right? I appreciate 1% is more than currently getting charged
I'm just wondering how much our real world cash economy is shrinking each year as percentages get creamed off, and how much that would be if a country really was cashless.
??
if there is an island with a million pounds of cash circulating on it and no outside money comes in or out, that money would just go round and round in some fashion.
if there is no cash but the million pounds is held digitally and every time there is a transaction 1% is taken off and given to person outside the island (peter thiel) over time the amount of actual money on the island would reduce to zero. Is that right? I appreciate 1% is more than currently getting charged
I'm just wondering how much our real world cash economy is shrinking each year as percentages get creamed off, and how much that would be if a country really was cashless.
??
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