The end of cash?

[emanymton]

It must do, somewhere. I would imagine anyone who did get paid in cash if it was all above board would find it very inconvenient.

It depends I think. If someone is regularly paying in cash but it is then spent on DDs for rent and bills and shopping at sainsburys that eill probably be fine, as it doesn't look like an attempt to clean dirty money.

 

[DotCommunist]

Money laundering 101. There's loads of posts on reddit from people whose accounts have been frozen for far less.

theres always the hawala system. I'd never heard of it till I read a kinehan associate had been clearing eyewatering sums through it.

 

[Elpenor]

theres always the hawala system. I'd never heard of it till I read a kinehan associate had been clearing eyewatering sums through it.

Also featured in an episode of homeland?

 

[Saul Goodman]

good news cash fans. you can swap your old liz notes for charlie from June 5th.

Legally?

 

[DotCommunist]

Also featured in an episode of homeland?

not watched it, it looked a bit Designated survivor. Interestingly google says hawala is illegal in the us but legal in britain if registered as a money service business.

 

[pbsmooth]

If I had 20k a year in cash from criminal activities, there's no way I would dare put it in any bank.

If they are so keen on stopping a business from laundering cash I'm sure they must have a system in place to flag up cash deposits into personal accounts. What reason could anyone have for putting 20k cash a year into a personal account?

Over a year that is nothing! 2k per month.
That’s what I am saying - they have systems for sure but you need to be paying in more than that to be on the radar. That’s from someone who does the job.

 

[InArduisFouette]

Someone who gets their wages paid in cash? Maybe that doesn't happen any more.

extremely rare that anyone in legitimate job is being paid in cash

it is legal to pay someone;s net pay in cash , but vanishingly rare outside very casual work

 

[InArduisFouette]

Well not that I'm involved in anything dodgy, but I have four personal bank accounts all for legit stuff. One for paying bills and rent from (Natwest), one for accruing air miles which my salary goes into (Barclays), a Chase one which I just set up as a possible alternative to Natwest because the cashback was better (tbh I've barely used it), and an HSBC one which I set up purely because they were offering cash money to just set up and deposit some money into (from moneysavingexpert advice). I also have a Revolut account but that's not really a bank, but I use it in much the same way - mainly for fee free foreign transactions.

If Lloyds or Nationwide, or TSB or someone were also offering any good reason to open an account, I'd go for it. I can't see anything stopping me.

while i don;t have multiple current accounts , i have accounts with multiple providers

HSBC , Nationwide, Virgin Money, Yorkshire BS , i think i still have a little bit in a national savigns aoccunt somewhere and i do have some premium bonds ...

 

[skyscraper101]

I'm in Berlin right now and totally forgot how much of a cash based economy Germany still is compared to the UK.

Got invited for a lunchtime burger and had no cash on me. Fortunately someone paid for me but I couldn't imagine a place in the UK now not accepting cards.

 

[freshapple]

20k per year is nothing and would not merit any suspicion or investigation.

In one lump sum it would

 

[pbsmooth]

In one lump sum it would

Lucky we weren’t talking about that then!

 

[PR1Berske]

 

[hash tag]

Posted on next door
I just recited this to the staff at our local, soon to close Barclays. They were in complete denial. "Unfortunately reality will bite:
"My friend Karen worked for Barclays Bank, Karen has just lost her job, because she followed 'orders' by referring all customers to not use cash, use online, mobile & telephone banking when they entered the branch.
Karen's branch is now closed and she's jobless & Karen can no longer get a job in Asda, or Sainsbury's where she shops because they now only employ self-service checkouts instead of people. Continue to use cash or you'll be the next to lose your job.
Don't be a Karen"

 

[Saul Goodman]

Posted on next door
I just recited this to the staff at our local, soon to close Barclays. They were in complete denial. "Unfortunately reality will bite:
"My friend Karen worked for Barclays Bank, Karen has just lost her job, because she followed 'orders' by referring all customers to not use cash, use online, mobile & telephone banking when they entered the branch.
Karen's branch is now closed and she's jobless & Karen can no longer get a job in Asda, or Sainsbury's where she shops because they now only employ self-service checkouts instead of people. Continue to use cash or you'll be the next to lose your job.
Don't be a Karen"

Around 15 years ago, my bank installed those money vending machines inside the bank, then every time I tried to use my usual cashier, she would almost insist that I use the machine to make deposits and withdrawals. I advised her not to talk herself out of a job, but she didn't have a choice, as her employer had insisted that all bank employees must direct customers to the new vending machines, and instruct them on how to use the machines. Inevitably, she talked herself out of her job.
It must be horrible, being told by your employer that you have to do that, knowing full well the consequences.

 

[MickiQ]

Around 15 years ago, my bank installed those money vending machines inside the bank, then every time I tried to use my usual cashier, she would almost insist that I use the machine to make deposits and withdrawals. I advised her not to talk herself out of a job, but she didn't have a choice, as her employer had insisted that all bank employees must direct customers to the new vending machines, and instruct them on how to use the machines. Inevitably, she talked herself out of her job.
It must be horrible, being told by your employer that you have to do that, knowing full well the consequences.

Pre-ATM I used to go the bank every Friday and draw out the amount of cash I reckon I needed for the weekend. When ATM's started appearing they first appeared in big centre of town/city branches and were much slower to get out to local branches.
I remember asking the bank manager at my local branch and he told me they were a fad and would never catch on.

Posted on next door
I just recited this to the staff at our local, soon to close Barclays. They were in complete denial. "Unfortunately reality will bite:
"My friend Karen worked for Barclays Bank, Karen has just lost her job, because she followed 'orders' by referring all customers to not use cash, use online, mobile & telephone banking when they entered the branch.
Karen's branch is now closed and she's jobless & Karen can no longer get a job in Asda, or Sainsbury's where she shops because they now only employ self-service checkouts instead of people. Continue to use cash or you'll be the next to lose your job.
Don't be a Karen"

Jobs that are being lost because of technology are doomed there is absolutely no way that they can or will be saved. The Luddites proved this 200 years ago and it's even truer today. It can be pretty rough if yours is the job that the machines are replacing but no amount of protest will ever stop it.

 

[Saul Goodman]

Jobs that are being lost because of technology are doomed there is absolutely no way that they can or will be saved. The Luddites proved this 200 years ago and it's even truer today. It can be pretty rough if yours is the job that the machines are replacing but no amount of protest will ever stop it.

I read that over 40% of jobs will be replaced by A.I.
A lot of people are in for a nasty shock

 

[marty21]

Paid cash for lunch today £5.80 (very reasonable London price, chicken,bacon,avocado baguette & a diet coke) handed over a twenty , they asked for the 80p to make the change easier , and I didn't have 80p in change but did have a pound coin . It was like olden days .

I take out £100 in cash on pay day (15th of the month) as I still like to use cash & like to have cash on me .

 

[MickiQ]

I read that over 40% of jobs will be replaced by A.I.
A lot of people are in for a nasty shock

Yup and as a society we are nowhere near ready for the shockwaves that is going to create but it is alas unstoppable.

 

[Saul Goodman]

Shops here round to the nearest 5c if you're paying with cash, so I always pay for petrol with cash, and go 2c over what I was going to put in.

 

[PR1Berske]

Just nipped into the local Tesco. Down from three cashiers to one, up from three self serve to seven.

 

[pbsmooth]

Posted on next door
I just recited this to the staff at our local, soon to close Barclays. They were in complete denial. "Unfortunately reality will bite:
"My friend Karen worked for Barclays Bank, Karen has just lost her job, because she followed 'orders' by referring all customers to not use cash, use online, mobile & telephone banking when they entered the branch.
Karen's branch is now closed and she's jobless & Karen can no longer get a job in Asda, or Sainsbury's where she shops because they now only employ self-service checkouts instead of people. Continue to use cash or you'll be the next to lose your job.
Don't be a Karen"

…and then everyone clapped?

 

[Cid]

Posted on next door
I just recited this to the staff at our local, soon to close Barclays. They were in complete denial. "Unfortunately reality will bite:
"My friend Karen worked for Barclays Bank, Karen has just lost her job, because she followed 'orders' by referring all customers to not use cash, use online, mobile & telephone banking when they entered the branch.
Karen's branch is now closed and she's jobless & Karen can no longer get a job in Asda, or Sainsbury's where she shops because they now only employ self-service checkouts instead of people. Continue to use cash or you'll be the next to lose your job.
Don't be a Karen"

Oh yeah, that sounds totally legit, all the way down to the 'don't be a Karen' line. Yep. Not just another bollocks just so story spewed across numerous facebook groups, mumsnet and, of course, next door.

(obviously elements of truth to it, but there always are).

 

[PR1Berske]

The Guardian view on the cost of a cashless society: the most vulnerable will pay | Editorial The Guardian view on the cost of a cashless society: the most vulnerable will pay | Editorial

 

[liquidindian]

Posted on next door
I just recited this to the staff at our local, soon to close Barclays. They were in complete denial. "Unfortunately reality will bite:
"My friend Karen worked for Barclays Bank, Karen has just lost her job, because she followed 'orders' by referring all customers to not use cash, use online, mobile & telephone banking when they entered the branch.
Karen's branch is now closed and she's jobless & Karen can no longer get a job in Asda, or Sainsbury's where she shops because they now only employ self-service checkouts instead of people. Continue to use cash or you'll be the next to lose your job.
Don't be a Karen"

I also saw this posted on nextdoor, by the guy who thinks the 5G wifi from next door is making him ill.

 

[wemakeyousoundb]

I also saw this posted on nextdoor, by the guy who thinks the 5G wifi from next door is making him ill.

it is making him ill with worry to be fair

 

[hash tag]

At a steam rally today there was virtually no internet signal so it was mainly cash or nothing.

 

[liquidindian]

Good news, a new entirely unproblematic supporter.

 

[pbsmooth]

Sounds like he’s dictating it to one of his plebs. “Please close down” bellend

 

[rasputin]

all you cashless people do you really trust the banks and the Govts of the world to go proper cashless? Cos I sure as feck don't. Probably already been said but it's not fair on small businesses either

I never understood why cash is trusted and cashless alternatives are not. Both are controlled by banks. In 2016 the Reserve Bank of India demonetised all ₹500 and ₹1000 banknotes overnight without notice; the Bank of England could easily do something similar with its notes if its bosses at HM Treasury were minded to do so.

 

[brogdale]

Good news, a new entirely unproblematic supporter.

No really seeing what this adds to the thread, tbh.
Setting aside the arsehole 'personality' involved, isn't this just an account of a business not making clear their refusal to accept cash as payment before providing a service/product?