Members ThePilgrim Posted May 15, 2015 Members Share Posted May 15, 2015 By hook or by crook, they are going to get our money. The mark get ever closer.http://www.telegraph.co.uk/finance/personalfinance/comment/11602399/Ban-cash-end-boom-and-bust.html Quote Link to comment Share on other sites More sharing options...
Members heartstrings Posted May 15, 2015 Members Share Posted May 15, 2015 They can have it all; We won't be here. Rosie and John81 2 Quote Link to comment Share on other sites More sharing options...
Members ThePilgrim Posted May 15, 2015 Author Members Share Posted May 15, 2015 The article doesn't say the mark is imminent. It just says they are going to take our money. Quote Link to comment Share on other sites More sharing options...
Members Invicta Posted May 15, 2015 Members Share Posted May 15, 2015 My Insurance company does not accept cash or cheques, only cards. A French hotel group which we sometimes use will only take Credit Cards. Quote Link to comment Share on other sites More sharing options...
Members John81 Posted May 15, 2015 Members Share Posted May 15, 2015 Many businesses here no longer pay cash or check, electronic transfers only.I often have checkout people tell me I'm the first or only person they have served that day who has used cash. Quote Link to comment Share on other sites More sharing options...
Members heartstrings Posted May 16, 2015 Members Share Posted May 16, 2015 I keep cash in my wallet, in small denominations, primarily to make change for customers. but I rarely use it for purchases. I use a Discover card for virtually everything from fuel to online purchases and I get a nice bonus back every year just for using it. I pay the balance off every month so there are no interest charges. My Wife pays most of our bills online using the bank/s electronic transfer. If you think about it, cash is just a worthless piece of paper anyway, supposedly backed up by the gold in the US Treasury. It's no different from paying with a check, again as long as that check has "gold" in your bank account instead of rubber. Quote Link to comment Share on other sites More sharing options...
Members ThePilgrim Posted May 16, 2015 Author Members Share Posted May 16, 2015 True our money is pretty worthless. The thing is though that if they outlaw the use of cash, then all your supposed money is in the banks computers and as a consequence you can not draw it out and take it home. So it seems to me that if that is to be the case, you really only have the ability to spend and not to save. The bank will charge you for keeping what you think is your supposed money and you cannot withdraw it. No cash . . . . nothing to withdraw. You might transfer it to another bank but that will really not change that you really can't get your own supposed money . . . . you can only spend it. If the government wants to tax your supposed money they will merely take it out of your account. No cash . . . . no money. Quote Link to comment Share on other sites More sharing options...
Members heartstrings Posted May 16, 2015 Members Share Posted May 16, 2015 My Insurance company does not accept cash or cheques, only cards. A French hotel group which we sometimes use will only take Credit Cards.And that is strange because merchants have to pay a transaction or "swipe" fee, and a percentage of the cost of each purchase to the credit card companies and merchant accounts every time you pay with a card. That is in addition to lease charges for their card scanners, monthly statement fees, and periodic "security update" charges, I do take credit cards, but I would rather take a check or cash to avoid the fees. Quote Link to comment Share on other sites More sharing options...
Moderators OLD fashioned preacher Posted May 16, 2015 Moderators Share Posted May 16, 2015 I use cash A LOT!! We have a couple of men in the church who don't even have a bank account. Back in the 1990's the US government was going to do away with all government checks (including Social Security retirement, S.S. survivor's, income tax refund) until amidst the uproar they discovered that around 40% of Americans didn't even have bank accounts. Quote Link to comment Share on other sites More sharing options...
Members Invicta Posted May 16, 2015 Members Share Posted May 16, 2015 And that is strange because merchants have to pay a transaction or "swipe" fee, and a percentage of the cost of each purchase to the credit card companies and merchant accounts every time you pay with a card. That is in addition to lease charges for their card scanners, monthly statement fees, and periodic "security update" charges, I do take credit cards, but I would rather take a check or cash to avoid the fees.I always pay by credit card when I can for a number of reasons. I like to pay for my months purchases in one go at the end f the month. I get a .05% cashback on my UK purchases, not much but when they pay it at the end of the year, it is a welcome boost.. I get a good interest on my current account so it pays to keep my money in there as long as possible. On foreign transactions, I get a better exchange rate than any of the money changers and transactions are free of commission. On my debit card from the same bank, I get charged a commission on foreign purchases, but don't get charged for getting cash from an ATM. I don't understand why. heartstrings 1 Quote Link to comment Share on other sites More sharing options...
Members heartstrings Posted May 17, 2015 Members Share Posted May 17, 2015 Yes, I buy a lot of stuff from mainland China, Hong Kong and, last month, some items from the Czech Republic with my Discover Card through Ebay/Paypal. One of the software programs I use in my business is from the UK and I got a nice little bonus from Discover for that one...https://sites.fastspring.com/vectric/instant/aspire Invicta 1 Quote Link to comment Share on other sites More sharing options...
Moderators Ukulelemike Posted May 18, 2015 Moderators Share Posted May 18, 2015 Money isn't money anymore, anyways. Our currency has not been based on the gold standard in many decades. Its based on air, on the good faith and promise of the government, and we know how solid THAT is! Quote Link to comment Share on other sites More sharing options...
Members Invicta Posted May 18, 2015 Members Share Posted May 18, 2015 Yes, I buy a lot of stuff from mainland China, Hong Kong and, last month, some items from the Czech Republic with my Discover Card through Ebay/Paypal. One of the software programs I use in my business is from the UK and I got a nice little bonus from Discover for that one...https://sites.fastspring.com/vectric/instant/aspire I made a purchase of £300 from the USA a couple of months ago and paid by PayPal. They charged quite a lot in commission. I should have paid be my credit card who would not have charged me. I had not used PayPal for overseas purchases before so I did not think of it. Quote Link to comment Share on other sites More sharing options...
Members 2bLikeJesus Posted May 18, 2015 Members Share Posted May 18, 2015 They sure seem to discourage using cards here. A lot of places tack on a $.35 charge to every transaction using a card as payment. Cash is still free to use. I stop doing business with places that tack on the extra charge for using a card like Arco AM/PM and most fast food restaurants in town. mkrishna 1 Quote Link to comment Share on other sites More sharing options...
Members heartstrings Posted May 18, 2015 Members Share Posted May 18, 2015 Invicta, I think all you have to do is include your card info in the PayPal account and choose that when you make your purchases. . At least that's how it works when I pay for stuff on Ebay. Mine is set up to choose either direct debit from my bank account or to use my Discover card. It should work the same. Quote Link to comment Share on other sites More sharing options...
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