Because cash is easier to skim and not declare.
I am treasurer of my local cricket club. We acquired an iZettle and a linked cash till and iPad last for our bar.
By the end of the season about a third of transactions were on card.
Far easier to deal with from a treasuryās perspective.
And the iZettle app letās you input all receipts and choose if itās cash or cardā¦
I think itās very naive to think that physical money is ādyingā. Itās also a sweeping generalisation to assume that itās only the elderly and criminals avoiding tax that prefer to use cash.
Personally I virtually never use cash for anything and donāt understand why people still rely on it - but the fact is plenty of people do. Temporary adjustments due to this pandemic are just that - temporary. A significant minority of people will default back to cash as soon as they can and thatās fine if it works for them.
Plenty do, because itās what theyāre most familiar with.
Whether it should go is a point for debate. But it aināt going away
i just find it strange now that shop wonāt take cash because of whatās going, was cash clean before all this? they want us to go cashless because once we do then thatās 100% control over our money, imagine the government implement a Ā£100 limit you can spend if anything or worst like this happens again then what can we do, nothing
No cash isnāt ācleanā at all - any decent food service business has strict hygiene rules around handling cash. The big difference now I suppose is the new virus thatās killing peopleā¦
Is Monzo being shut down
No
Did you read that on WhatsApp?
I really dont think are closing down.
N26 pulled out of the uk so arenāt operating here
Monzo are currently in talks to get an extra £40 million funding. Nobody would fund them if they were being shut down or being taken over
Monzo are a fully regulated UK bank and like all banks watched closely by the regulators. So no, they arenāt being used by silent partners for money laundering
Nor are they run by aliens. They didnāt start covid 19 in their lunch breaks either
No problem , google is full of Alot of stuff
It certainly is. If you read a story somewhere, check those facts against a reputable source just to be certain For example, If this was true, all major news outlets would be reporting on it too.
Been asked by my grandparents to withdraw Ā£60 cash and they would transfer me the Ā£60 when I go to Morrisonās today. (Will just get cash back when paying)
Iām still stuck on what they need it for as they always pay the window cleaner by card and the village shop takes cards. (Guessing they just like having it around as a lot of older people do)
I havenāt paid by cash in agesā¦
The one thing I hate though is at some small shops / Coffee shops where it is a minimum of Ā£5 on card or they ask for cash⦠why canāt banks either cut back on high charges or the shops able to incorporate the costs into the products the amount of times Iāve said just charge me the fee and il pay it rather than getting cashās out
I hate the minimum spend thing. Thereās no law against it but it does go against Visa and MasterCard rules - although itās barely enforced.
It is illegal to charge a fee to use card though.
Ohh thatās why they never allow me to pay extra to pay by card⦠they normally either let me off and allow me to pay by card or I walk out
The dumb thing is itās mostly businesses that are still paying a fixed fee for transactions. For example, 20p per transaction. Itās now more common to just have percentage based fees now - so a minimum charge is not needed. I mean Iāve paid a few pennies contactless in a supermarket before, for example.
Iāve not used cash since last year myself, if they have a min spend I just go somewhere else or just use somewhere that wants my money.
I know of loads of small places with no min spend so it should be easy for them to switch to a % based charge from a acquirer
I had my haircut this weekend and was astonished to find they havenāt used Covid as an opportunity to offer card payments. I still had to pay cash⦠Canāt think of any possible reason they are doing this, other than tax dodging.
Yup. I mean for Square itās Ā£19 for a card reader and 1.75% per transaction. I changed barbers simply because I could pay by card.