How much cash you carry on you and how do you feel about going cashless?


(Dave) #82

That’s interesting because psychologically spending cash is supposed to be harder and so you think more about what you spend it on. However, if you dislike change (which I do too) maybe we spend it to get rid of it :slight_smile: and with your card you only spend what you need to?

As for being cashless, I use cards when I can for lots of reasons, but I don’t want to see cash disappear and the recent Visa outage (which didn’t affect me at the time) actually caused me to withdraw more cash just in case a similar incident happened again and lasted days (unlikely, but who knows?).

The other extreme would be mainly using cash, and I wonder what problems that might cause. I guess “the system” just changes over time according to how people behave, and any shock to that system is disruptive.


(Brian Hunter) #83

Aye, I read that too. But I wonder how the instant feedback of spending on a bank like Monzo (notification on phone) affects that.


#84

I withdrew £15 from an ATM this weekend because I was at a French market in a local town. (I bought flavoured meringue and Nutella crepe, had to be done)

But other than that I don’t like cash and the last time I had to use it was because the card payment machine at stopped working where I got my nails done.

I lose money with cash so easily.


(Brian Hunter) #85

I swear, you all need to start checking for holes in your pockets!


(Dave) #86

I just thought of something else too. When I withdraw cash, because it is no longer on my bank balance I kind of treat it like money already spent, which means I can spend it guilt free :expressionless:

Oh dear…


#87

I forget what I’ve spent it on mostly. So it’s usually unaccounted for


(Peter Shillito) #88

I take out money for:

  • The various markets I go to (some stalls are just one person who are cash only, a handful have card but with minimum payments, etc)
  • An older colleague who keeps hens and sells their eggs at work typically same day as they’ve been laid (fresh eggs are best eggs)
  • Pub quiz
  • That one friend who doesn’t trust online banking so does everything in cash
  • When the card system is broken in a shop (it happens, although I’ve also had one of those put the card in a giant plastic thing with some paper over and swipe across the card to take an indentation once a year or so ago)

So I usually don’t carry cash, but I take some out every month or two as I do like going to the makers markets

EDIT: Oh, and I buy cash for my trip to Japan as card acceptance is poor at best lol


(Richard) #89

With the exception of being on holiday in Greece and taking some Euro’s (which I totally didn’t need to do, most places accepted card).

I’ve been cashless for a month.

Only minor issues in Edinburgh are, some taxi’s only take cash, but I don’t use them enough to be a major issue, and I’ll usually use uber (unless it’s surging). The buses themselves don’t accept contactless, but they do have an app that you can guy tickets in.

Even started paying for the work lottery syndicate by bank transfer :smiley:


(Brian Hunter) #90

That’s Edinburgh for you. In Glasgow the busses have contactless.


(Richard) #91

Think it’s meant to be “coming soon”… (they were trialling it on one of the airport buses back in January)


(Matt ) #92

I would love to be cashless. The sticking points are vending machines and shops with minimum spend


(Peter Shillito) #93

Most of the vending machines I’ve actually wanted to use have had contactless readers (or even occasionally full on chip+pin readers) but all the ones where I work are cash only (20p per hot drink though outside of your key-based 3 free a day means probably not worth it lol).


(Harry) #94

I’ve pretty much been cashless since I started earning money. I don’t take cash out unless I really have to. I’ve recently moved to Australia for a year and I’ve been here for two months so far, I’ve only had to withdraw cash once (for the casino :joy:) - it’s funny here though, most places (bars/restaurants) pass on the card fee directly to the customer.


(Tim Chambers) #95

I think that’s it. :joy:


(Kieren) #96

Personally, I generally carry no Cash. Its rare I even take my wallet nowadays - I have my Monzo Card and ClubCard on Apple Pay/Wallet on My Phone and My Watch so unless I get pulled over there is very little in my wallet that I need. #TeamCashFree


(Rika Raybould) #97

I tend to carry a wad of of £5 notes in my wallet that are generally used for buying food at markets. :burrito:

There’s also conventions where many vendors still prefer being thrown £5 notes over waiting around for their card machines to connect. I’ll carry a couple of hundred points for those.


(laura gold) #98

I would love to go cashless. i think especially with the way banks are going, if the rest follow Monzo then there will be no need for physical cash as we can freeze our cards instantly.


(Kieren) #99

I think the Freeze button in the app is one of the best Ideas Monzo have that, i personally think, should become an industry standard.

In the 40 minutes you mention in your other thread, imagine how much more money could be spent before the card got frozen! The way the world is going more digital, i think its a good thing to give the user more control!


(laura gold) #100

it was mad! i literally watched the thieves using my card in real time, and when i froze it, it still showed them attempting to in real time. If it wasn’t for Monzo, i would not necessarily have noticed my cards gone until later in the day.
Also as a side note, the data that Monzo show the users in the app was exponentially more helpful to the police. It gave the exact time and address.


(Kieren) #101

It is fantastic how you get a push for the transaction; if it was a traditional bank you wouldnt know where the card was being used for 3 days when the bank added the transactions to your statement - let alone being notified it was being used.