To think cash transactions above £250 should be banned

[coconuttella]

Because let’s face it, the vast majority of cash transactions above that level are done to evade tax in one way or another... and those cash transactions that aren’t could easily be done another way.

Why do you think things should be banned? If you don't like It, don't do it. I think posting nonsense on mumsnet should be banned, so that's you out!

Cash is king.

Just wait until the banks have liquidity problems and your accounts are frozen or the Govt. decides to deduct 6.75% of your savings (Cyprus 2013) or there is a hack freezing access or destroying bank systems.

Personally I don't want the banks tracking everything I spend and where I spend it. Who knows how my trips to the bookies or off licence might be used against me in the future (both might be illegal in the future) or that I make payments to whoever is in opposition if I don't like who is in power in the future.

I work in middle management in a bank and their systems are dreadful and not as secure as you would like to think!

I'm paid cash (with a proper payslip, and yes I pay tax as does my boss!).
I earn more than 250 a week.
I'd be getting arrested every payday!

the vast majority of cash transactions above that level are done to evade tax in one way or another..

How the fuck do you think you know this OP? Let’s see your working please.

How charming!

What a ridiculous thing to say. Why should people have to pay to spend their money by paypal, not everyone is technologically savvy. And some people get paid in cash. I regularly pay for things in cash, large amounts because thats my choice, i am not evading tax!!

It's called legal tender for a reason.

I hate the assumption of some MNers that cash = undeclared income. We as a business take a lot of cash payments sometimes for more than this amount and declare every penny. Card facilities cost a lot of money and I would rather accept cash or BACS.

Some people should get a life and stop worrying about how they can control everyone else 🤣

This ⬆️, this says everything that needs to be said.

someone with serious money management wouldn’t be splashing out £250+

Laughing, very loudly here. Gamblers for one thing. I've seen (primarily) footballers come in to the bank and withdraw 100K+ for an afternoon in the casino.

coconuttella

It would be more productive to start a petition then cluck about it on MN.

OP are you on drugs?

I have taken £1000 out from the bank before now. Not being flash, but because I knew it might disappear into the black hole and I needed to get all the stuff for the new baby. My bank have a habit of giving me charges all at once (as in 6 months of unplanned overdraft fees I was not aware of all at once) so I tend to take the money out in cash, and then put back in whats needed for what I know is coming out. Eg. I take £400 and then put £200 back in the day before my direct debits come out, then another £50 back in when I need to buy something on card. I usually make purchases such as a phone etc. in cash not on card, and they can easily set you back more than £250. If I then decide not to purchase the phone I would put the money back in, and maybe another £50 I'd saved so that probably looks dodgey as hell but is my way of managing money.

How would you police this OP? Traders prefer cash for all sorts of reasons. If your rule came in they would have a huge incentive not to declare because they had broken the rules by taking it in the first plsce

well, I follow the envelope system to budget and I pay by cash for everything that isn't on direct debit.
Its actually a very good budgeting too.
I am not evading tax in anyway. I just draw out the cash at the bank teller for what I need/plan to buy for the week and the debit card stays at home. then if I don't have the cash for it I can't buy it!
it works for me and my family and its my basic right to chose how I spend MY MONEY.

OP are you on drugs?

and if you are, how did you pay for them?

I take it the op is not very old....

Badlad . Paypal obvs

OP, YABVU.

I have heard a few people in their twenties say they havent used cash for ages. I do try and make them think how unwise a cashless society would be at this juncture of human evolution! Some get it, some alas dont.

YABU.
It’s none of your business if people tend to pay for things in cash.

I’d also say that you are the one who’s a bit Del Boy if you’ve “lost count of people who offer a discount for paying cash and avoiding the books”

Funnily enough I’ve never had that, maybe that’s because most people I do deal with who I pay for stuff like materials/work/services know it’s a business transaction on my end too, so a receipt is always needed for our accountant.

Very unlike DelBoy and prefer cash.

Well I’d be stuffed. No online banking here and nor do I have Paypal.

I would like PayPal but it doesn’t seem possible with the accounts I use.

Im a cashier and hate it when someone comes in to spend 2k 2 mins before i close....it means im usually 15 mins late out...just pay with your damn card !!!

I nearly always use cash/have enough cash to pay because if I lose my bank card then I have no access to money until the replacement arrives.

My ddad is almost blind and colour blind, he can’t use a computer or chip & PIN cards - he can’t read the screen. He can’t use cash points because the screen looks black to him.
How’s he supposed to pay for anything other than cash? He can tell what notes and coins are by the shape and what little sight he has left.