Times I have needed cash this fortnight

[marymarkle]

I know there are some on here who say they never ever use cash. I don't know how they manage. Like most people I use a mixture of bards and cash.
So in the fortnight the times I have had to use cash are as follows.

Buying the Big Issue. I assume those who never use cash never buy the Big Issue.
Paying for drinks at a cash bar at a wedding. Very posh venue, but cash bar only, no cards.
Getting the bus into town. I live in a City where the buses only take cash or a bought bus card. I hardly ever use the bus, so no point buying a bus pass, so I used cash. You can not use a card.
Went to a local vintage fair today. This is a small fair and the best stalls are always some people who do this as a hobby/to make a bit of extra money, and none of them take cards. I assume because of the cost of taking cards.
Paid a tip by cash in a restaurant. I always pay tips in cash so servers get the whole amount. Even the best places take an admin fee.

By refusing to use cash I would have negatively affected my life this fortnight and not supported someone who is homeless.

DGRossetti

pubs and cafes won't take cards for less than £5/10.

Well you aren't allowed to impose a minimum spend on cards any more.

You do know that shops have to pay to process cash too?

In restaurants, it's an utter pain in the arse when some of the group want to pay by card. You haven't a clue who's paid what and it either ends up under or over at the end, and there's usually someone who's paid 'their share' by card and disappeared leaving everyone else to cover their share of the tip or shared sides/bread/wine.

Group meals in restaurants is one situation where it's far easier for everyone to pay in cash.

hobbiests always have paypal

What is bizarre is all these trendy types making it some kind of badge of honour that they don't carry any cash. Then those same people expect others to pander to their choice to do so

You don't find many "cash only" people doing the same thing and virtue signalling about not having any cards at all.

Literally no one is 'virtue signalling' about anything.

I give not one shit about how anyone wants to pay for things. I find it much easier not to use cash. If other people want to pay in cash, cheques or shiny pebbles that is their choice.

You do know that shops have to pay to process cash too

Of course I do, but in practice they probably don't because they will pay their suppliers in cash, the owners may take earnings in cash, some staff may be paid in cash. The amount of money that goes in the bank will only be a fraction of what the business takes.

Well you aren't allowed to impose a minimum spend on cards any more

You are, you're just not allowed to charge for taking cards.

Rosetti Why do you need to be so sarcastic?

It's Tuesday

Also I was irked by the cash=tax evasion trope that appeared mid thread.

KingLooieCatz

Lots of us don’t have school age children and lots of us don’t go to church!

According to this, 42% of transactions in the UK are still in cash. That is higher than I thought it would be.

cashessentials.orgapp/uploads/2018/07/2018-world-cash-report.pdf

Well you aren't allowed to impose a minimum spend on cards any more.

Yes you are. Whatever makes you think you aren't?

www.bbc.co.uk/news/business-40655333

"Because businesses have to pay the bank when a customer uses a card, many put a minimum charge in place. Some small shops or pubs have a £5 or £10 minimum spend before they will accept a card. This will not be illegal under the new directive, so expect it to continue. However, as consumers switch away from using cash, many retailers may not want to risk losing their business."

For businesses like ice cream vans where the average spend is under £3, they probably would not be economic if they had to take card payments.

When I'm sticking to a really strict budget I find using card only as much as possible helps. If I take out £10 cash for a £7 purchase the likelihood is that the £3 change will get spent without me really noticing. Whereas if I use a card the £7 payment leaves no change. Also, if I really need to use cash I would be better withdrawing the £7 in cash than a £10 note so I would go to the bank and get the exact change, not just get "some cash" I would get the right cash.

According to this, 42% of transactions in the UK are still in cash.

According to self-reported diaries by people willing to keep such a diary. As they say themselves on the previous page, it's non-scientific. Any survey which claims that the US is massively less cash-using than the UK (it claims 32% of transactions in the US are cash) needs to be treated with great scepticism: the US has no equivalent of cheque cards, no equivalent of contactless payment, only very limited penetration of Chip and PIN and only stopped using travellers cheques very recently. The US is massively more cash-using than the UK.

That is interesting. When I am on a tight budget I find cash much easier. I dont need to do this now, but I would get out the amount of money I have for the week and then I simply cant spend more than that. I find with cards its easy to spend a £1 or £2 extra.

I always make sure I have enough change for the big issue but a lot in London have card machines now 😂

According to self-reported diaries by people willing to keep such a diary. As they say themselves on the previous page, it's non-scientific.

Also borne out by real data from real businesses. These are the till sales figures for a convenience store client of mine:

Cash £5,214.13
Card £4,878.18
Coupons £64.40
Total for Week £10,156.71

That's 51% of their till sales in cash - a real business.

As for bank charges, card processing fees:-

Bank charges inc cash pay ins £43.69 for that month
Card processing charges £53.46 for that month.

So despite handling more cash (most of which is banked), the bank charges are still lower than the card handling/processing fees!

I don't use much cash at all.
I pay for a few services in cash - cleaner (weekly), farrier (every 6 weeks), riding instructor (weekly), Chiropractor (bi-monthly), horse dentist (annually), horse chiro (bi-annually). Everyone else takes payment by bank transfer.

I get the cash out for these activities on payday each month so that it is accounted for and divide it up into envelopes so I always have it when needed as I live rurally and a long way from a cash point.

We have collections at work for leaving, big birthdays, weddings etc so sometimes need cash for that.

I try to keep £10 on me for emergencies, some £1's in case I have to pay to park at work (staff car park gets full and private ones are cash only).

At work though all the vending machines and food outlets take cards for any amount.

I rarely eat out these days so don't need cash for tips and don't buy big issue or give cash to beggars ( I have my own charities I support by direct debit instead).
Our local farmers markets etc all take cards so rarely need cash for that. Perhaps the odd village event like the Fete will need cash but I know of that in advance.

I hate cash - I prefer monitoring my spend via phone apps for my cards/banks - I check them daily and keep a spreadsheet for all known bills so know exactly what has gone in and out.

I assume Big Issue organisation in London are supplying card machines? No way could people selling the Big Issue afford this. So an additional cost for the organisation.

I rarely use cash now. Though perversely I hate not having at least a tenner in my purse. Just in case.

The only time I regret not having cash is for homeless people age charity collectors. I have changed to paying the window cleaner by bacs. And he was pretty much the last bastion of cash.

I assume Big Issue organisation in London are supplying card machines?

It's only a profile on one guy so I'm not sure what others do, but he bought his own card reader.
www.bigissue.com/latest/big-issue-vendors-are-backing-izettles-plans-for-contactless-busking/

Oh okay!!! So the Big Issue sellers in London is based on ONE guy. No wonder I have never seen a Big Issue seller with a card machine. A lot of hyperbole.

I never use cash. Ever. Occasionally I do have to spend £5 or more in an independent shop as that’s all of them round my way but I’m happy for this. Cash burns a large hole in my pocket that I just can’t afford! I find I’m more sensible with my cards.
I don’t buy the big issue because the lady in my town arrives on a train and gets a lift up to the most affluent part of town and then spits on the floor all day which isn’t great for local trade tbh.

I don’t give money to beggars as town has huge homeless problems which after phoning a homeless shelter to see what’s going I got told never to give them money as those on the streets know where they need to go for shelter but would rather sit out in the cold begging for drugs/alcohol money, the same people then leave needles out in kids playgrounds so nope still don’t need cash. Am happy to give them food/hot drinks which I can pay for on my card though.

That profile is on one guy, I don't have a big issue seller near me, but articles from December that I'm reading indicates they're doing trials in "eight-week trial, beginning on Monday in London, Bath, Birmingham, Bristol and Nottingham" to give more sellers card readers and test our how they work. So it's obviously something theyre thinking about those in cities will maybe move towards.

Cash £5,214.13
Card £4,878.18

Bank charges inc cash pay ins £43.69 for that month
Card processing charges £53.46 for that month.

Even at face value, that is 0.83% on cash, 1.1% on cards. Had all the cash payment been cards instead, it would have cost an additional £13.45, 0.13% of turnover. You'll pardon me for not thinking that an existential threat to businesses.

And of course the argument is nonsense, because the card transactions took themselves to the bank as part of that 1.1%, while the cash didn't. Since the cash didn't walk itself out of the till, count itself and get itself to the bank, I'd be willing to bet that over the course of the month the cash consumed at least a person-hour (15 minutes a week). So, there's the thirteen quid.