to be worried that we are heading towards a cashless society?

[WaitingforGalGadot]

I read an article a few days ago about how the Government would like to phase out cash so that everyone is compelled to pay by card or bank transfer, supposedly to make things easier and quicker and destroy the black market.

I actually think this is really ominous as once there is no more cash, there is no more anonymity and your spending habits and lifestyle can be tracked even if you are not doing anything illegal. Big Brother watching your every more.

It also means the banks can impose negative interest rates (where you have to pay the banks to hold your money) on savings accounts to get people to spend rather than see their savings reduced and of course also means that you don't really have control of your own money since the banks can collapse, bail in your money or appropriate it (as has happened in places like Argentina, not too long ago).

Cash is also really useful and personally I don't find it a faff to use cash. I think this is really scary.

[LipstickHandbagCoffee]

Police better be arresting me I paid a builder in cash. I’ll get me coat then

[Gingernaut]

We'll send you a cake with a file in it!

[LipstickHandbagCoffee]

Thanks,and crowd fund my bail please.mind it’s not exceeding £5k cash or yer all nicked too

[LoniceraJaponica]

"I use a card for these. Or rather I use my phone usually."

How would you keep a tally of all of these transactions? I would have a purse full of receipts, and going through my bank statement every month would take ages.

After a weekend in London I spent the next few days wondering just how much I had spent using my debit card on public transport.

Does your phone keep a tally of all transactions? I have a S7 Edge BTW, not an iPhone.

[Keepingupwiththejonesys]

I literally always use cash when out and about. I find having the cash makes me more careful with my spending. I have two direct debits as I have to have them. I'd.absolutely hate cash to be gone

[PoisonousSmurf]

You can store millions in your home if you want. But the police will love to question you about it and if you had a fire or flood, the maximum that the house insurance would out for is £2,500.
So best not too keep too much at home.

[goose1964]

I'm worried about people going into debt. If you pay everything by card it's very easy to underestimate how much you're spending, even small purchase like papers or sweets soon add up. What about people who cannot open bank accounts because they lack the relevant documentation. If you don't drive or have a passport or pay utility bills it can certainly be hard to get a bank account

[coconuttella]

Just back from a food festival. All stalls trading using cash. No card machines. Will things like this die out if/when we go cashless? Will small local businesses suffer? Probably.

Cash will remain until cashless transactions are even more straightforward than they are now, and the likes of School fetes can readily manage cashless transactions. That day will come in a decade or so.

I say bring it on... We’ll develop ways of making us feel more in control... such as virtual cash withdrawals so you know how much you have left in your daily/weekly allowance when paying for stuff, like you would if you had cash, only better as you’d be able to see immediately how much you had rather than have to count change.

As for alternatives, there’s bitcoin and the like.

[splendide]

How would you keep a tally of all of these transactions?

I track using an app called YNAB but I track cash the same way when I have to use it. Not sure I see the difference?

[Sparklingbrook]

I wouldn't mind, I hardly ever have cash on me. I pay for the car parks using RingGo app.

I haven't visited a bank for ages.

[coconuttella]

I track using an app called YNAB but I track cash the same way when I have to use it. Not sure I see the difference?

Exactly... I think a lot of people are way behind where tech is at, and are living in 1997 not 2017.

[coconuttella]

Yes, always use Ringo for parking... far better than trying to find change.

[Sparklingbrook]

I do love RingGo, I know it's more expensive, but it's worth it for the convenience and being able to extend the parking without returning to the car etc, and no faffing in the rain at the Pay and Display machine.

[Pootlebug]

"How would you keep a tally of all of these transactions? I would have a purse full of receipts, and going through my bank statement every month would take ages."

Monzo. Sorts spending by category, provides totals by month, by merchant etc.

[GhostsToMonsoon]

It wouldn't bother me that much. I use my contactless card a lot and don't usually carry more than £30 cash (one time when I did have over £100 cash in my purse, I lost it in a taxi. It was to pay a B&B and had they taken cards, I wouldn't have lost the money).

I do all my banking online. If I get a cheque once in a blue moon that can be paid in at the post office.

I can think of many places that are currently a long way from going cashless, mainly revolving around children, such as nearly new sales, school fairs and toddler groups.

I've never been against ID cards either although I know many people oppose them - I have met non-drivers who never go abroad and it can be difficult having no form of photo ID.

[Apollo440]

Big brother is here. They already monitor your bank accounts but you will only find out this if you are on benefits. I believe you aren't permitted more than 6K in savings if you are in receipt of benefits (perhaps this is where this erroneous 'illegal to have more than 5K in cash came from?).

My friend, who is on benefits and suffering from a wasting neurological disease, suddenly had all his benefits stopped without warning. It took 6 months to get them reinstated. His crime? He went over the 6K limit and within days the DWP knew this and cut all payments without further inquiry. Obviously the banks are passing on this information wholesale to the authorities.
And the reason he broached the savings limit? He had received money from his father's estate to cover his father's funeral costs. Nice bit of added stress for a seriously ill person in mourning. But then they don't give a flying f@ck and if they killed him off that would be one less scrounger in their view.

And if your wondering how the authorities came to get the power to monitor our bank accounts, it was on the back of the RIPA act supposedly aimed at tackling terrorism. As predicted, scope creep.

So yeah, you would be wise to be worried about the death of cash.

[Fanciedachange17]

I've found myself reverting back to cash more and more. I find it helps me budget and spend less.

[pringlecat]

I hate cash. Just today I found an old pound coin in a handbag I hadn't used in a while - it feels like legal tender keeps getting made illegal. One day I'm going to have to bite the bullet, round up all the old money and go to the Bank of England and ask for my money to be be made into money again... Such a faff.

You don't have any of those problems with cards. I was very opposed to contactless when it first came out, but the convenience has won me over. Card machines are also really cheap the days - you can pick one up for as little as £30 and no ongoing costs (other than transaction fees).

[gamerchick]

I don't think I feel comfortable in totally relying on electricity and online. I watched blackout and it was well freaky.

I'd just like to be able to find a cash point that gives out tenners in my area. I don't want ruddy 20s every time

[Aridane]

It’s already illigal to have over £5k in cash at any one time.

Poppycock (have always wanted to,say that word)

[gamerchick]

I disabled my contactless card. I resented having the fucker forced on me.

[MongerTruffle]

Would you really use a debit card for little sundries like parking, a newspaper , a coffee or a bottle of water?

Yes, it's much easier. I just tap my card or phone on the reader rather than having to fumble around with change.

[Sparklingbrook]

It's quicker to pay for a coffee by tapping your card than it is paying by cash. Plus the cashier doesn't have to handle any money/open the till etc.

[LoniceraJaponica]

"I pay for the car parks using RingGo app."

I'm not sure our local town parking is set up for this. How does it work? How would a traffic warden know I have paid if there is no ticket to display in a pay and display car park?

"Card machines are also really cheap the days - you can pick one up for as little as £30 and no ongoing costs (other than transaction fees)."

What about internet connection? I suspect that a lot of places that still operate on a cash basis have no internet - say at a food festival.

"I track using an app called YNAB but I track cash the same way when I have to use it. Not sure I see the difference?"

I don't get you. I don't track every penny when I spend cash, but I feel more in control using cash for small sundries. I will have a look at the apps mentioned and see if they will work for me. I am happy to embrace new technology, but I do think it makes it easier to overspend.

[Sparklingbrook]

The info from RingGo goes onto the traffic wardens gadget. I saw her checking cars for tickets once and she didn't even bother going over to mine so she must have known the reg was already paid.
I have used it a lot and never had a problem. It stores the car parks you park in regularly and you can just tap 'Park Again'. Really handy to be able to extend the parking, it texts you with ten minutes to go before expiry.