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


(Simmy) #162

Thats fair enough but its annoying when newsagents and small shops require a " minimum order "


(Emma (still not the app)) #163

Interesting article. I used to always budget using cash as card payments were too easy to loose track of and often didn’t show for 2 or 3 days. Instant notifications and balance updates have completely solved that problem for me.
Hopefully more progress will be made on allowing the unbanked access to banking services and products


(Andy Little) #164

Interesting article. I found it strange to find someone has the exact position problem to me.
I pay on card whenever I can, but I find barbers, chip shops and lots of pubs often want to force me down the cash route.


(Phil) #165

Cashless 99% of the time.
When I have cash I try to get rid of it, but then I just buy chocolate bars etc needlessly to do so.

It’s very easy to get by without cash in London, with only a few small shops requiring cash or having a minimum.


(Tom Almond) #166

I’m very similar. Only use cash out of necessity. I have a pocket full of 50p’s in my gym bag for the scales - but other than that the only time I have cash is when I specifically need it because somewhere doesn’t accept cards, then I just spend the change until it’s gone haha. Sometimes if I’m spending £20 in Tesco I’ll dump all the change in the machine then pay the rest by card in the same transaction.

Lets bin off chip and pin whilst we’re there haha, bring on a contactless society!


#167

Contactless? Who needs a card/phone - I want biometric :wink:


#168

Oooo can you do that??? I like the idea of dumping change there rather than rattling around my pocket!


#169

I only ever carry cash if I need to throw a few quid at the children…I use my card as much as possible as it adds to my spending insights and I do get a bit flustered if I just have Cash Machine in my transaction list…I need the detail of when, where, and what on!


(Tom Almond) #170

Yeah, just chuck all your change in and it’ll take it off the total - then there’s an option to pay with an alternate method and you can pay the rest with your card :slight_smile:


(Tom Almond) #171

But where will we put it? In the eye, tip of your finger? Tap your elbow? So many questions.


#172

Clearly it’s in your palm so you can walk around using the force like a Jedi!


#173

Why put anything in :slight_smile:

There are so many unique features each of have already…


#174

It should be a ubiquitous presence detection - I am therefore I pay


#175

Something like…


#176

Biometrics are so 2000s. Badgers are the future.


(Tom Almond) #177

Amazon have started working on that already, kinda!

If you swallowed your phone technically you could be doing that right now!


(Kieren) #178

It’s annoying, but its fair - I used to work in a hardware store where it was a minimum spend of £5 because there was a % fee for processing of transaction (5% I think) and if you are selling a newspaper at 40p that is making you only 5p profit - allowing card becomes a false economy as it makes their 5p profit a 3p profit, which is 40% of the profit…


#179

MasterCard do not allow merchants to set minimum or maximum purchase amounts. They can be reported to MasterCard via https://www.mastercard.us/en-us/consumers/get-support/report-problem-shopping.html

Rule 5.11.3 - https://www.mastercard.us/content/dam/mccom/global/documents/mastercard-rules.pdf


#180

I don’t think I would report any merchant to MasterCard, especially my local corner store. They still have unofficial minimum spend of £3 which went down from £5. It would be actually helpful if card companies eliminated fees for all card purchases below £5 and increased them for higher value spending. This would help small merchants.


#181

That’s an interesting idea, but even handling cash cost money - I wonder if the card charges are competitive if the shop owner actually did the analysis.