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What is societies obsession with carrying cash?

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Comments

  • Registered Users Posts: 852 ✭✭✭moonage


    The OP came up with the following profound nugget of wisdom:

    "Why bother with physical cash if you just want to get rid of it anyway?"



  • Registered Users, Registered Users 2 Posts: 3,225 ✭✭✭downtheroad


    Some of the arguments for cash are hilarious.

    Damage the card

    Blackouts

    Nuclear war

    "Ownership" of the money

    Fees

    Safety

    Do all the folks who are so pro cash demand their employers pay them in cash? Or do you withdraw your salary in cash as soon as you get paid?



  • Registered Users, Registered Users 2 Posts: 14,756 ✭✭✭✭Dav010


    You seem to be struggling with this concept, the argument for cash is that some people, me included, like to carry it. It may not be a big amount, but it’s enough for me to be happy that I have it in my wallet. No one needs to conform to your way of thinking, each person may have their own reasons for having cash, if that is fees, war, system failures, data concerns etc, etc, so be it. The same outlier reasoning may well be associated with some who think cash should be scrapped, time, convenience, hygiene, roaming gangs of pickpockets, an outbreak of clumsiness which leads to widespread loss of your wallet etc, etc.

    What this comes down to is personal preference, most rational people understand that choice is a good thing, and being able to choose whether to carry/pay cash shouldn’t offend anyone, unless of course you have the patience of an adolescent who wants their sweeties now.



  • Registered Users, Registered Users 2 Posts: 3,225 ✭✭✭downtheroad


    Use cash all you want, nobody is stopping you.

    Both serve their purpose. But the arguments presented against card/contactless are borderline conspiracy theory nonsense in here.



  • Registered Users, Registered Users 2 Posts: 7,032 ✭✭✭The Continental Op


    I seem to remember reading the suggestion that anyone using cash must be on the fiddle so its a bit tit for tat really.

    Edit> I think there is also an Historic angle to this. I was brought up with cash and think of money in terms of cash just like I still think of measurements in miles, yards, feet, inches, pounds and Fahrenheit. I can even do navigation with mils. Maybe in years to come kids will be brought up to think of money in terms of "credits" or "gold pressed latinum".

    Wake me up when it's all over.



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  • Registered Users, Registered Users 2 Posts: 14,756 ✭✭✭✭Dav010


    There is the thing, some do want cash to be done away with, I think the arguments against electronic are no more looney than the arguments against cash, like wallets being stolen or lost, cash users are tax dodgers etc.



  • Registered Users, Registered Users 2 Posts: 3,225 ✭✭✭downtheroad


    When it comes to tax evasion you'll find its far more prevalent in cash transactions than electronic, there's no argument against that due to the paper trail. We've all been offered the cash price or the invoice price by a tradesperson, with cash being markedly cheaper. Why would that be the case if the income is being declared to Revenue?



  • Registered Users, Registered Users 2 Posts: 14,756 ✭✭✭✭Dav010


    You think electronic payments will eradicate tax evasion or criminality, or even make it more difficult? Don’t be so naive.



  • Registered Users Posts: 279 ✭✭global23214124


    You need cash for some taxies still. Sometimes a card machine can be broken as well so good to have some backup cash. The local restaurant I go to doesn't accept cash either and the food is good so I tend to go there. My elderly parents don't use bank cards and just use cash for everything so I'm all for having cash as an option while people still rely on it.



  • Registered Users, Registered Users 2 Posts: 3,225 ✭✭✭downtheroad


    Electronic won't eradicate tax evasion but if there's a trail there I'd imagine people would be less likely to engage in it. Your PPS number is linked to your Revolut account for example, its not a big leap for Revenue to potentially get their hands on that information.



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  • Registered Users, Registered Users 2 Posts: 3,225 ✭✭✭downtheroad


    All taxis by law must accept card, those ones saying cash only are on the fiddle.

    If the card machine is broken its the retailer/vendors problem to fix, not yours.

    If elderly people can get cash from an ATM they can use a contscless card, that argument is nonsense.



  • Registered Users Posts: 279 ✭✭global23214124


    My parents would get money from the bank/credit union. Wouldn't have a ATM card to use it.



  • Registered Users, Registered Users 2 Posts: 3,452 ✭✭✭Tork


    Have you never been in a shop which had a broken card machine?



  • Registered Users, Registered Users 2 Posts: 7,032 ✭✭✭The Continental Op


    Buy some recent logic here a shop with a broken card machine must be on the fiddle.

    Wake me up when it's all over.



  • Registered Users, Registered Users 2 Posts: 3,452 ✭✭✭Tork


    More fool me. I should've walked out of the dodgy shop and gone to the next village. I've been funding a cartel.



  • Registered Users, Registered Users 2 Posts: 14,756 ✭✭✭✭Dav010


    A quick google shows that some drug dealers are now using cash apps, buyers pay, drugs are delivered. Like cash payments, those that want to evade tax will take their chances on their accounts being scrutinised by Revenue, you are underestimating the ingenuity/stupidity of those that do not want to pay tax or who are involved in criminality, there is always a way. Customs/Revenue know there is tax evasion/criminal enterprises, doesn’t mean they can catch it all. Though it was announced earlier this year that Irish based customers of Revolut would have their accounts transferred to Ireland, my account is still based in Lithuania, they gave up earlier this year on their quest for a banking license here in Ireland, at the end of each year the Revolut accounts are sent to Irish Revenue, how many are checked do you know?



  • Registered Users, Registered Users 2 Posts: 3,225 ✭✭✭downtheroad


    I've no idea how many are checked. But the plumber or electrician who was doing €20k a year in cash jobs (speaking from experience chatting to an acquaintance) will not be running that volume of off book transactions through a Revolut or bank account and leaving a paper trail.



  • Registered Users Posts: 984 ✭✭✭Still stihl waters 3


    Speaking as a Tradesman I've never offered a cash price and I don't think it's a prevalent as people think, I've always given a price plus vat, 90 percent of the time the customer always asks for a cash price and expect a reduced rate for cash, it's the way it's done and won't be changing anytime soon



  • Registered Users, Registered Users 2 Posts: 9,419 ✭✭✭pgj2015


    Busy night and a serious lack of taxis, the taxi drivers machine isn't working, you tell him/her you will only pay by card result is you walking home and the taxi bringing someone who has cash.



  • Registered Users, Registered Users 2 Posts: 3,225 ✭✭✭downtheroad


    Fully agree with you that customers often expect a lower cash price. I've paid cash to tradespeople, it's not my problem if they aren't tax compliant - they are responsible for maintaining their own compliance with Revenue.

    A local bike shop, that I now won't bother going to, have a cars machine that has been broken now for at least 3 years. Clearly a tax dodge, or else the worst luck with card machines that seem to work perfectly well for most other traders.



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  • Registered Users, Registered Users 2 Posts: 3,225 ✭✭✭downtheroad


    Or you get in, then at your destination you say you'll pay by card or report them to the NTA. Watch how quickly the card machine will suddenly start to work again.



  • Registered Users, Registered Users 2 Posts: 14,756 ✭✭✭✭Dav010


    Again, you are failing to understand that there will always be workarounds. There is already an obvious paper trail even if cash is used, a plumber charging €20k will obviously need some materials. Plumbers who take €20k in cash aren’t criminal masterminds, they are playing the odds, those same odds will apply even if it is electronic payments.

    Just think about the volume of electronic payments Revenue will have to scrutinise if every payment was electronic. That plumber would be playing the odds that their number doesn’t come up for audit.



  • Registered Users, Registered Users 2 Posts: 3,225 ✭✭✭downtheroad


    Again, fine, I couldn't care less. Some will use cash. Some won't. I don't. Each to their own.

    But I stand by my point that this reluctance to ditch cash due to a conspiracy theory of governments switching off our banking system is complete nonsense.



  • Registered Users, Registered Users 2 Posts: 14,756 ✭✭✭✭Dav010


    As is the assertion that people who look for cash payments are tax evaders, and all the loony reasons for stopping cash use are nonsense.

    Where does that leave us? Freedom of choice to use cash if we want.



  • Registered Users Posts: 984 ✭✭✭Still stihl waters 3


    The amount of sole traders getting audited must be miniscule, I'm trading over 20 years and have only heard one person getting audited and I know a lot of tradesmen, revenue are obviously aware a certain amount of it goes on but whether understaffed or understanding that it goes on and are happy to leave things as they are it's probably not worth they're while trying to catch joe tradesman for doing a few cash jobs here and there



  • Registered Users, Registered Users 2 Posts: 9,419 ✭✭✭pgj2015


    you can report them if you want but if the machine isnt working, it isnt working, simple as. If it isnt working by the way you will have to pay cash or go to an ATM to give cash, you dont get a free trip. machines will break at times, I use a card reader myself for my business and sometimes it doesnt work or the internet isnt working in certain areas etc.



  • Registered Users, Registered Users 2 Posts: 9,419 ✭✭✭pgj2015




  • Registered Users, Registered Users 2 Posts: 9,857 ✭✭✭hynesie08


    If acceptance of card is a condition of carriage and your card machine isn't working, your taxi shouldn't be on the road.



  • Registered Users, Registered Users 2 Posts: 9,419 ✭✭✭pgj2015


    come on, what if you live in the middle of nowhere and the taxi drivers card reader cant connect to internet? that isn't his fault is it?



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  • Registered Users, Registered Users 2 Posts: 14,756 ✭✭✭✭Dav010


    Or they just take a €200 fine if a judge is a complete twit and doesn’t understand that the taxi has a functioning card reader, but no signal in certain areas. If the judge has a mobile phone, he/she will understand the concept of areas with no mobile coverage, we would hope.



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