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What is societies obsession with carrying cash?

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Comments

  • Registered Users Posts: 330 ✭✭JizzBeans




  • Registered Users Posts: 330 ✭✭JizzBeans


    All the "cash is king" & "my money, my business" people on here are the same folks who would reject the a new public services card.....but still sign up to a social media platform.

    Why is that?



  • Registered Users Posts: 789 ✭✭✭Big Gerry



    Its always good to have some cash for emergencies.

    If there is another banking crisis you may not be able to access the funds in your bank account.

    Remember we were told that if the government hadn't of bailed out the banks back in 2008 the "ATMs would have stopped working".



  • Registered Users Posts: 728 ✭✭✭20Wheel


    1. "If your only means of payment is on your phone". IF.
    2. Yes somebody did, that somebody was me.

    Nobody cares about your tapping kink future-boy. You'll still be waiting behind people using cash 10 years from now.

    Putin is a dictator. Putin should face justice at the Hague. All good Russians should work to depose Putin. Russias war in Ukraine is illegal and morally wrong.



  • Registered Users, Registered Users 2 Posts: 1,297 ✭✭✭Count Dracula


    Abolishing cash is just a tactful way of banks having more control over your money. It is gas that they have everyone by the bollocks and we were the ones paying all their debts 10 years ago?

    People in this country really need to get a grip sometimes, clueless.

    Mark my words, in less than 10 years banks will have introduced a scheme rewarding accounts with over 10k in them and a penalty system for accounts with less than 5k. It will happen.

    They will be throwing .5% interest rate hikes every 6-8 months for the next 5-6 years. Watch for subtle press releases every summer announcing a hike in "early September", the same day as an international crisis, they will be sneaking it in, blaming brexit, or the Russian president or the price of cattle feed brought on by methane's impact on global warming.... etc.

    People like Michael Fingleton or Sean Fitzpatrick get awful press over the crash, but they were trying to tap in on a market dominated by AIB and BofI. it gave consumers options at least. Those options are gone now and until cyber banks are facilitated we will be getting fleeced. That's how they want it.



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  • Registered Users, Registered Users 2 Posts: 25,781 ✭✭✭✭Strumms


    What’s after cashless ? Banks and shops having a sulk because dealing with cash takes too much of their resources to deal with said cash ? Soooo….

    banks and shops then in time have a sulk because dealing with cards the same… they want to ninja cards then ?

    they don’t like us then dealing with apps ?

    fingerprint authorisation on transactions ? Retina scans to authorise ? Why not ? Technology now is in existence to enable both…



  • Registered Users Posts: 330 ✭✭JizzBeans


    its hard for some people to understand modern conveniences, the often become frustrated and lash out



  • Registered Users, Registered Users 2 Posts: 25,781 ✭✭✭✭Strumms


    Cash is VERY convenient for the customer, but less so for the business.



  • Registered Users, Registered Users 2 Posts: 18,773 ✭✭✭✭kippy


    I amnt a cash is king or my money, just someone who sees the major benefits of cash over digital in certain cases, from a number of angles, and sees the benefits of digital over cash is other situations.

    I don't want to see a complete move to digital. It simply isn't feasible and puts all of the power and control in the hands of the state, the banks and big tech to an extent. It also makes it easier to spend money and ultimately devalues money for some of the reasons I have outlined.

    Almost all of the arguments used against cash are incredibly minor points versus the arguments against digital, however as I've said there is plenty use cases for both.

    I have no issues with a PSC.

    I have a number of social media accounts with a few platforms.


    The amount of people who are almost one hundred percent reliant on phones for payments worries me from a few angles but each to their own.

    I've also seen an over reliance on the 'newer' banking platforms such as revolut and would have concerns around the move towards these platforms. Granted, I am happy to see the competition that forces the traditional banks to improve their offerings but I have seen enough of revolut to use it as a convenience rather than a primary banking platform.



  • Registered Users, Registered Users 2 Posts: 18,773 ✭✭✭✭kippy


    I would say that would depend entirely on the business and indeed the customer.



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  • Registered Users, Registered Users 2 Posts: 3,455 ✭✭✭Tork


    I was very glad to have cash a few months ago when I lost my VisaDebit card and had to cancel it. Because it happened just before a bank holiday it took several days for a replacement to arrive.



  • Registered Users, Registered Users 2 Posts: 25,781 ✭✭✭✭Strumms


    Certainly the time and cost and risk involved in handling cash vs basically automated card transactions.. cash is always less convenient for a business… more staff, higher insurance bill, greater security and more besides….counting, processing.

    my gym went cashless there is now one customer service person on the front desk as opposed to two or three as there used to be… so a general enquiry means you might have a 5 minute plus wait behind other clients….they encourage membership renewal and enquiries via their website / social media…

    they lost about 30% of their front desk staff during/as a result of being closed at covid… yet the membership fees have risen..

    my guesstimate is they saved about 110 grand a year on staff plus whatever on insurance with having no cash. So….add is the higher fees….tidy extra profit



  • Registered Users, Registered Users 2 Posts: 18,773 ✭✭✭✭kippy


    Have they passed on these massive savings to their clients?



  • Registered Users, Registered Users 2 Posts: 3,366 ✭✭✭Star Bingo


    You know when you get a fiver with sellotape around it? That was me showing my friends money doesn’t matter only to stick it back together again



  • Moderators, Science, Health & Environment Moderators Posts: 5,144 Mod ✭✭✭✭spacetweek


    In response to the OP - Nothing to see here. Most people don't use cash and aren't obsessed with it. Took me a while to get with the program but the pandemic really shifted the landscape in my experience. Nowadays I only pay for items costing less than about 4 euro in cash.



  • Registered Users Posts: 728 ✭✭✭20Wheel


    Putin is a dictator. Putin should face justice at the Hague. All good Russians should work to depose Putin. Russias war in Ukraine is illegal and morally wrong.



  • Registered Users, Registered Users 2 Posts: 25,781 ✭✭✭✭Strumms


    nope, I don’t recall a fee reduction.

    next after cashless is 100% plasticless… bad for environment..we’ll be told

    there are over 3000 ATMs in Ireland…they have to be installed, serviced, insured, updated, filled… huge savings for banks, millions in savings… again no clients see the benefit…

    Smartphone payments and maybe smartwatch payments to be a bigger thing… or, the only thing, in time.

    every single person who I know, uses cash regularly….

    nobody I know uses plastic exclusively.



  • Registered Users Posts: 728 ✭✭✭20Wheel


    Jawol meine Fuhrer I vill use meine kard. Cash is fur dem undesirables. Und it ist society that ist obsessed, und definitely nicht you.

    Putin is a dictator. Putin should face justice at the Hague. All good Russians should work to depose Putin. Russias war in Ukraine is illegal and morally wrong.



  • Moderators, Technology & Internet Moderators Posts: 7,411 Mod ✭✭✭✭pleasant Co.


    Can’t say I use cash all that often, had a cash float of €70 in my card wallet all of the last year entirely untouched, based on my observations of other consumer habits in regards to cash vs card use I’m certainly not in the minority.



  • Registered Users Posts: 330 ✭✭JizzBeans


    Hmmm, so what was all that uproar for when AIB try to close a load of branches?



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  • Posts: 0 [Deleted User]


    Occasionally there are situations where it's not possible to pay by card, so I carry about €40 in cash at all times, but I mostly use plastic. Mixture of both is ok surely. Not sure I'd like there to be zero cash. Handy for presents too.



  • Registered Users, Registered Users 2 Posts: 760 ✭✭✭GSBellew


    Must be nice not having a Mortgage or rent to pay, never mind electricity bills, heating, insurance and all the other things that come out of the money most of us earn each week.

    Yeah that's nothing to do with cash, but I do not know anyone who has 100% of their net pay to spend every week



  • Registered Users, Registered Users 2 Posts: 2,445 ✭✭✭apache


    Always carry a bit of cash but maybe not any more. Taxis taking card is a great change. My GP was old fashioned and only took cash up until a few weeks ago when he got a card machine. Also my local Chinese started taking card lately. So thankfully there's nothing much left for paying cash. I think I'll always hang on to a 50 in cash just in case.



  • Registered Users, Registered Users 2 Posts: 9,454 ✭✭✭pgj2015


    you are supposed to quote a post so people know who you are talking to.😋



  • Registered Users, Registered Users 2 Posts: 9,454 ✭✭✭pgj2015


    its just plain laziness in my opinion that people don't use cash.



  • Registered Users, Registered Users 2 Posts: 2,445 ✭✭✭apache


    It's hardly laziness using card when you have been paying by cash for nearly 40 years.



  • Registered Users, Registered Users 2 Posts: 29,872 ✭✭✭✭Wanderer78


    nothing to do with laziness at all, its pure convenience to use card, and potentially safer than carrying cash, increase in card use makes perfect sense



  • Registered Users, Registered Users 2 Posts: 26,996 ✭✭✭✭breezy1985


    You could put a prepaid card in their communion card.



  • Registered Users, Registered Users 2 Posts: 18,184 ✭✭✭✭Dohnjoe


    It is the consumer, we're demanding more cashless services. It's just quicker and simpler than paying with cash.



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  • Registered Users, Registered Users 2 Posts: 8,443 ✭✭✭BrianD3


    Some of the wealthiest people in society are also those who are the most pro cash.

    Farmers

    Germans

    Travellers

    Tradesmen

    The Elderly

    And yeah, tax evasion is a big part of the appeal for some of the above.

    On the other hand, there are the "with it" trendy types with their 1000 euro phones that they use for everything, including payments and would be lost without. They sneer at or pity with those who use cash i.e. don't conform. These trendy types are a financial services marketeer's wet dream, exactly the sort of people who would fall for a snappy slogan like "just tap - and go!" while not considering the implications or who is benefitting.



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