Cashless society?

Do you think the uk will become a cashless society in the next 15 years?

  • Yes

    Votes: 18 50.0%
  • No

    Votes: 16 44.4%
  • Don't Know

    Votes: 2 5.6%
  • Don't Care

    Votes: 0 0.0%

  • Total voters
    36

Trickythemerc

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I have a twenty pound note in my wallet that has been there since the start of the first lockdown. I also have cash bags with pound coins etc in all my vehicles, sort of petty cash idea. Last week I noticed a soft tyre on one of the vans while filling up with diesel, went to the air line and even that wanted a contactless card for the £1.00 that air now costs. Last time I used one it was 20p :doh:
 

baxlin

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The last time I had the car serviced by my regular indie, he asked if I minded transferring the funds direct to their bank, as card charges were becoming a large part of their overheads. I appreciate he got his money sooner, which might also have had a bearing, of course!

No problem for me to do this because the card’s paid off every month (apart from losing loyalty points, ha ha), but I wonder how much the card transaction fee for a 90p newspaper is to the newsagent, and if/how 5bis might change with so many tiny transactions.
 

esox

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I`ve had a £10 note in my wallet that must of been there for the last 6 months!
This is partly due to the `thing` over the last year and shops insisting on card payments, i don`t mind paying for items with card exclusively but it does seem strange with minor items of a quid or so.
...and i don`t miss having a pot of change in the kitched cupboard to bother with..
 

Bobby Dazzler

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As soon as my favourite Chinese Takeaway starts accepting card payments then I won’t have a need for cash except for tips.
 

knighterrant

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As soon as my favourite Chinese Takeaway starts accepting card payments then I won’t have a need for cash except for tips.
Two points there.

The problem for small businesses accepting card payments is that the merchant charges become a significant drain on profits. Small turnover businesses don’t have the benefit of being able to get lower percentage fees from the card providers.

Tips - when paying by card how do you ensure that the person within the company who provided the service that justified a tip will actually receive it? The helpful waitress in the restaurant, the bell boy at the hotel. Will they have to carry around their personal card machines in future, or just go without tips?
 

190

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The problem for small businesses accepting card payments is that the merchant charges become a significant drain on profits. Small turnover businesses don’t have the benefit of being able to get lower percentage fees from the card providers.

Small business can be hit which ever way they accept payment. Banks can charge £1 for every £100 a business pays their account. Banks don't really want to handle cash and have already started increasing these charges. Both banks in our village have closed, By the time a local business has bagged up coins and travelled miles to the nearest branch, which are ever decreasing in number, they might be better off doing business cashless. What they need is fair charges for cashless payments
 

raspy

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@ToeKnee Yes, I think we will move to cashless sooner (at least for certain groups of the population) - The only time I use cash is when I get my 1 pound coin for the Sainsbury's trolley. I pretty much gravitate to those places where I can use my Apple watch to pay for stuff, and avoid places where they only take cash.

However, I can see that the shift is already proving to have a negative impact for those of us who can't use a smartphone or can't afford one. For example, the move from parking machines where cash is no longer accepted and you have to use an app on your phone to pay. I read that in certain parts of the country, it's led to older drivers who only use cash and don't have modern tech to feel more isolated as they avoid visiting the places they used to.

I think we need a healthy balance that enables everyone to live their lives, rather than make life easy for some of us.
 

Bobby Dazzler

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Tips - when paying by card how do you ensure that the person within the company who provided the service that justified a tip will actually receive it? The helpful waitress in the restaurant, the bell boy at the hotel. Will they have to carry around their personal card machines in future, or just go without tips?
I continue to give cash tips but most establishments have a policy opooling tips so they often don’t actually get the tip I give them anyway, and so I could have added the tip to the bill.

However those working in industries which receive tips usually prefer cash, because they pay tax on tips paid by cars on top of the bill, which suggests that they don’t declare some or all of their tips to HMRC.

The technology to quickly make a personal (non-business related ) electronic payment already exists, and could be improved further I’m sure, without too much difficulty.
 

knighterrant

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Small business can be hit which ever way they accept payment. Banks can charge £1 for every £100 a business pays their account. Banks don't really want to handle cash and have already started increasing these charges. Both banks in our village have closed, By the time a local business has bagged up coins and travelled miles to the nearest branch, which are ever decreasing in number, they might be better off doing business cashless. What they need is fair charges for cashless payments
In the 13 years that my wife has run her small business here, she’s probably only banked cash an average of 2 or 3 times a year, and never been charged a penny. Usually the cash that she holds onto is used for purchasing stock or most things she wants for personal use. She’s never incurred charges for depositing cheques. The right bank is needed according to the specific business.
 

MadMerx

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Tonight's chinese was sorry cash only, machine not working again. No problem, here you go, keep the change. :)
 

Happytalk73

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Tonight's chinese was sorry cash only, machine not working again. No problem, here you go, keep the change. :)
Indeed. Our local Chinese boasts a mahoooosive ’cash only’ sign in the window. Almost like a great big finger pointing down for the inland revenue to see. 🥳
 

E55BOF

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Cash in the sticks, cashless in the cities, is the way it will go (even more - it already is going...), but fully cashless in fifteen years? I doubt it.
 

m80

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Frank joined us at Spoons earlier.
Cool, well 4 C, as we haven't seen him for a bad few months.

struggled to get Spoons app to menus ,but got there. Come payment I wanted a drink so took over. It'll work out over time and he will compensate the occasional 7 drinks.

Cashless doesn't work for all. The poor bugger needs to pay the extra 20% now.
And he only drinks the cheap stuff.
 

w124nut

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I have a purse of silver coins {£13 approx} in the car for parking fees. but normally I pay these by card or phone.

The window cleaner, valeters, for example get paid via faster payments system and others receive payment via my credit/debit card.

When paying cheques to my bank account, I photograph the cheques and post them to my account using my smart phone.

Any bronze coin that I may receive go straight into a charity box.

I know that me and many others are responsible for the closure of bank branches of which I do have some guilt but times are changing.
 

Will

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I reckon you could easily merge this thread with one of the EV vs. Combustion engine ones from MBClub ;)

And bring back typewriters, coal fires and slates for schools :)
 

baxlin

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And bring back typewriters, coal fires and slates for schools :)
I believe that what has replaced typewriters, coal fires and slates for schools have been advantageous, the same cannot be said about entirely replacing cash.

And no, I am not a cash Luddite, I am very much like w124nut in post #35 above.
 

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