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Index » Entertainment » TV » Is Cash Socially Unacceptable? Page: 1, 2, 3, 4, 5, 6, 7, 8  Next
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GeneP59

GeneP59 Avatar

Location: On the edge of tomorrow looking back at yesterday.
Gender: Male


Posted: Jul 18, 2017 - 9:19am

 islander wrote:

I'm astonished at how fast the rewards pile up when you use the card for just about everything.  Also convenient for tracking spending if you have a good card. I just pay the full balance every month and get free benefits. I do try to avoid it for small purchases with local vendors so they don't get stuck with the fees, but otherwise - charge it. 

 
Oh yah a zero balance is the only way I go now a day. Just got my portable solar panels for free off Amazon using my MC points.

And if I do online purchases I try to use PayPal if possible for the added securit. 
islander

islander Avatar

Location: Seattle
Gender: Male


Posted: Jul 18, 2017 - 9:10am

 GeneP59 wrote:
I pay with cash most of the time so the man can't track me and the Russians can't steal my ID. Only large purchases get my MC outa my wallet for rewards. 😂 

And I do 50/50 on doing my bill payments where some places need me to write a check. {#Cheesygrin}

 
I'm astonished at how fast the rewards pile up when you use the card for just about everything.  Also convenient for tracking spending if you have a good card. I just pay the full balance every month and get free benefits. I do try to avoid it for small purchases with local vendors so they don't get stuck with the fees, but otherwise - charge it. 
GeneP59

GeneP59 Avatar

Location: On the edge of tomorrow looking back at yesterday.
Gender: Male


Posted: Jul 18, 2017 - 9:07am

I pay with cash most of the time so the man can't track me and the Russians can't steal my ID. Only large purchases get my MC outa my wallet for rewards. 😂 

And I do 50/50 on doing my bill payments where some places need me to write a check. {#Cheesygrin}
islander

islander Avatar

Location: Seattle
Gender: Male


Posted: Jul 17, 2017 - 10:13am

 Proclivities wrote:

That is something I will never miss - spending 40-70% of my lunch break time standing in a long line, then having to wolf down some food while scurrying back to the job.

 
And automated online bill paying - get an e-mail, click to confirm beats sitting down with a pile of paper anyday.
Proclivities

Proclivities Avatar

Location: Paris of the Piedmont
Gender: Male


Posted: Jul 17, 2017 - 10:08am

 SeriousLee wrote:

I miss the days of having to go to the bank to cash/deposit my paycheque.

 
That is something I will never miss - spending 40-70% of my lunch break time standing in a long line, then having to wolf down some food while scurrying back to the job.
Visa's "war" on cash is pretty bizarre; I would assume the large majority of restaurant patrons pay with a credit or debit card these days anyhow, at least if it's for more than one guest - I suppose Visa wants more business.
SeriousLee

SeriousLee Avatar

Location: Dans l'milieu d'deux milles livres


Posted: Jul 15, 2017 - 5:32am

 kurtster wrote:

This is the first thread I ever started.  Here we are a little more than 10 years later and ...

Visa declares war on cash

and 

more local info ...

 
I miss the days of having to go to the bank to cash/deposit my paycheque.
kurtster

kurtster Avatar

Location: drifting
Gender: Male


Posted: Jul 15, 2017 - 4:47am

 kurtster wrote:  Nov 2, 2006
Has anyone seen the latest Visa commercial? It shows a cafeteria or deli at lunchtime. Every operation has been perfectly choreographed so everyone gets what they want without even thinking about it. It is a text book illustration of our instant gratification society.

Everything is humming along in perfect harmony, people are sliding their Visa card, moving through the line at peak efficiency until some poor soul whips out cash. Then everything comes to a screeching halt because this guy wants to use cash. People crash into each other, food flies into messy piles. Everyone in the store looks at this guy with disgust for daring to use cash. Once he is given his change everything speeds up again to the happy Visa ending.

For at least the past ten ten years, I have been jokingly asking cashiers if they still accept cash just to be silly and break the tension after waiting in line behind check writers without ID and others using various forms of plastic with great difficulty because of their inability to figure out the card readers.

I guess it has gone from a silly question to a serious one. Is cash coming to an end? There are now some places of employment that require you to take your pay in the form of direct deposit,no more checks. I know for fact that the Great State of Ohio now only pays by direct deposit or will load up a Visa debit card to pay you, anything from wages to unemployment benefits.

Do y'all remember on 9/11 trying to use plastic to buy gas or groceries? You couldn't because the servers in the towers were destroyed. How about during the last east coast power outage? How about the poor people in N.O. after Katrina when their banks were destroyed? Everyone in Calif is told to keep X amount of cash on hand in case of the big one.

The can is open. Conspiracy, coincidence, or whatever. Without cash, the ability to remain anonymous is greatly impaired. Is this another attempt or effort to take away another freedom?

I see this as a blatant attempt to stigmatize the use of cash. Am I paranoid and should I trust in the fact that cash is becoming passe? Or am I on to something?
Let's hear about it!!!

 
This is the first thread I ever started.  Here we are a little more than 10 years later and ...

Visa declares war on cash

and 

more local info ...


aflanigan

aflanigan Avatar

Location: At Sea
Gender: Male


Posted: Jan 23, 2015 - 7:16am

Why, of course he is.

 
Coaxial

Coaxial Avatar

Location: 543 miles west of Paradis,1491 miles eas
Gender: Male


Posted: Jan 23, 2015 - 6:45am

No, because, like, the people who, like, work places, like, have to make, like, change and shit and ,like, math is hard.


Proclivities

Proclivities Avatar

Location: Paris of the Piedmont
Gender: Male


Posted: Jan 23, 2015 - 6:40am

prizes
ScottN

ScottN Avatar

Location: Half inch above the K/T boundary
Gender: Male


Posted: May 20, 2012 - 12:44pm

 ScottFromWyoming wrote:
At our coffeehouse ca 1997 we took any check any time and no plastic. The fees and headache back then were enormous, and the fact is, most of our checks were for less than $5. We probably ate less than $10 a year (altho we did have to take some of them to the bank several times... we didn't put them in the deposit, we just asked if the check would clear. In one case we sent the NSF check to a college kid's home address that was on the check... Mom & Dad directed Jr. to come in and buy that check back ). 

 
Now I would do it just the opposite: no checks, all plastic. Of course if someone had no plastic and no cash, I'd still take a check, or hell, float 'em until payday. A few people would abuse our good nature that way but more often than not they got their quarters out of the sofa the next time. Re: Cash, it's just easier to mis-handle it. If I was not there, I'd sleep easier knowing there wasn't a high school kid handling my income... And I would absolutely definitely have gift cards for the shop. 15 years ago we did the prepaid punch cards, which had a little bonus built into them. Parents could pay $20, the card had $22 worth of punches on it and they or their kids could stay on a budget that way... or at least the kids weren't spending it at the arcade. I think you have to build a little premium into those since you can't spend the money other places, but by the same token, I roughly calculated (didn't track them close enough to know) that we had $8000 unclaimed punches when we sold...

A short comment
CC costs, especially on small transactions, are a huge benefit to banks, and a huge burden on the economy (except for said banks) and constitute, in effect, an invisible tax.

You can lose a CC and have a world of hurt.  Or don't lose it, as happened to me, and have visa call me up and ask "did you just fill your gas tank in France?"  True story from about ten weeks ago. Minor episode of ID theft.  I was not charged, but some entity lost money on that transaction, probably the bank, and you can bet that fraud cost is analyzed and is built into the business person's cost to provide cc service..  Yes, I know you can lose cash too, but $50 compared to to $5 and a wallet full of cc's?

I think it is reasonable to have a few dollars cash, say up to $50, for small purchases.

I completely agree cc's have their place and are very useful.  It is the small to very small transactions with which I take issue.
oldviolin

oldviolin Avatar

Location: esse quam videri
Gender: Male


Posted: May 20, 2012 - 12:21pm

on a lighter note...
ScottFromWyoming

ScottFromWyoming Avatar

Location: Powell
Gender: Male


Posted: May 20, 2012 - 12:12pm

At our coffeehouse ca 1997 we took any check any time and no plastic. The fees and headache back then were enormous, and the fact is, most of our checks were for less than $5. We probably ate less than $10 a year (altho we did have to take some of them to the bank several times... we didn't put them in the deposit, we just asked if the check would clear. In one case we sent the NSF check to a college kid's home address that was on the check... Mom & Dad directed Jr. to come in and buy that check back ). 

 
Now I would do it just the opposite: no checks, all plastic. Of course if someone had no plastic and no cash, I'd still take a check, or hell, float 'em until payday. A few people would abuse our good nature that way but more often than not they got their quarters out of the sofa the next time. Re: Cash, it's just easier to mis-handle it. If I was not there, I'd sleep easier knowing there wasn't a high school kid handling my income... And I would absolutely definitely have gift cards for the shop. 15 years ago we did the prepaid punch cards, which had a little bonus built into them. Parents could pay $20, the card had $22 worth of punches on it and they or their kids could stay on a budget that way... or at least the kids weren't spending it at the arcade. I think you have to build a little premium into those since you can't spend the money other places, but by the same token, I roughly calculated (didn't track them close enough to know) that we had $8000 unclaimed punches when we sold...
winter

winter Avatar

Location: in exile, as always
Gender: Male


Posted: May 20, 2012 - 10:49am

 ScottN wrote:
 islander wrote:

The swipe systems is a flat 2.75%, which is better than the standard credit card merchant deals. The merchant fees usually start at $0.25 / transaction + a percentage of the charge that varies based on all kinds of factors (most out of control of the merchant). 

This is why a lot of small shops try to enforce the minimum charge - if you buy something for a dollar using a card, it can cost them up to $0.30 just to make the transaction. If their margin is less than 30% they are losing money on the sale.  

Businesses, especially small businesses, are charged based on volume, average transaction amount and number of, and especially credit rating and history of charge backs. It is not, for me anyway, a flat fee, swiped or manual (phone order). I have shopped around, and again, for me, find the CC clearinghouse rules similar to each other, and the rates higher than you state and variable.  I dunno, maybe I am not shopping around enough?

I can tell you that in my experience, these rates can vary, are dynamic, and buried deep in the contract somewhere is the bank's right to change, terminate or otherwise modify the agreement at any time. 

No doubt Delta Airlines, say, pays a much smaller discount rate and transaction fee than does your local "massage parlor". {#Whistle}

 
I think Islander's referring to Swipe - see SFW's post below, not swiping. Although I wonder what fees Swipe pays the banks and associations on their end?
ScottN

ScottN Avatar

Location: Half inch above the K/T boundary
Gender: Male


Posted: May 20, 2012 - 10:45am

 islander wrote:

The swipe systems is a flat 2.75%, which is better than the standard credit card merchant deals. The merchant fees usually start at $0.25 / transaction + a percentage of the charge that varies based on all kinds of factors (most out of control of the merchant). 

This is why a lot of small shops try to enforce the minimum charge - if you buy something for a dollar using a card, it can cost them up to $0.30 just to make the transaction. If their margin is less than 30% they are losing money on the sale.  

Businesses, especially small businesses, are charged based on volume, average transaction amount and number of, and especially credit rating and history of charge backs. It is not, for me anyway, a flat fee, swiped or manual (phone order). I have shopped around, and again, for me, find the CC clearinghouse rules similar to each other, and the rates higher than you state and variable.  I dunno, maybe I am not shopping around enough?

I can tell you that in my experience, these rates can vary, are dynamic, and buried deep in the contract somewhere is the bank's right to change, terminate or otherwise modify the agreement at any time. 

No doubt Delta Airlines, say, pays a much smaller discount rate and transaction fee than does your local "massage parlor". {#Whistle}

Edit: I particularly feel that , saying again, the "plastic money" concept is the most successful marketing effort ever seen (or experienced).  Carry a few bucks, People!


kurtster

kurtster Avatar

Location: drifting
Gender: Male


Posted: May 20, 2012 - 10:20am

 islander wrote:

The swipe systems is a flat 2.75%, which is better than the standard credit card merchant deals. The merchant fees usually start at $0.25 / transaction + a percentage of the charge that varies based on all kinds of factors (most out of control of the merchant). 

This is why a lot of small shops try to enforce the minimum charge - if you buy something for a dollar using a card, it can cost them up to $0.30 just to make the transaction. If their margin is less than 30% they are losing money on the sale.  

 
Back in the day when I managed a Thrifty Rent A Car, I learned about the vayring fees.  This was before card readers I might add.  There were floor limits before requiring authorizations.  Each card had its own trans % fee.  Visa and MC were the lowest followed by Disc (which was new) to Amex at 4.25% and Diners Club and Carte Blanche which were 6% per.  We had a lot of DOD rentals and most all .gov cards were DC.  It hurt but we were the gov's primary car rental preference.  Fees are also based upon the size of the average transaction. 
islander

islander Avatar

Location: Seattle
Gender: Male


Posted: May 20, 2012 - 10:03am

 ScottN wrote:
 winter wrote:

Yeah, they'd get busted for that. I get why they do it, but it won't fly with the associations - they see cash and checks as their competitors, and they are pretty strict about enforcing the "same as cash" part of the contract.


And that "same as cash" when a fee is imposed for using the card should be changed, imo.  I am a small businessman.  I have and use a credit/debit card clearing house.  It is a major expense for me.  I believe people who pay cash are entitled to a discount.  It steams me when, as I saw the other day, someone "swipe" for NINETY cents!  The only profit there was for the bank.

The "plastic money" concept may be the most successful marketing effort of all time. I advocate carrying a modest amount of cash and use that for purchases under, say, $25.  Checks are still fine too (when they don't bounce!).

 
The swipe systems is a flat 2.75%, which is better than the standard credit card merchant deals. The merchant fees usually start at $0.25 / transaction + a percentage of the charge that varies based on all kinds of factors (most out of control of the merchant). 

This is why a lot of small shops try to enforce the minimum charge - if you buy something for a dollar using a card, it can cost them up to $0.30 just to make the transaction. If their margin is less than 30% they are losing money on the sale.  
winter

winter Avatar

Location: in exile, as always
Gender: Male


Posted: May 20, 2012 - 10:02am

 ScottN wrote:
 winter wrote:

Yeah, they'd get busted for that. I get why they do it, but it won't fly with the associations - they see cash and checks as their competitors, and they are pretty strict about enforcing the "same as cash" part of the contract.


And that "same as cash" when a fee is imposed for using the card should be changed, imo.  I am a small businessman.  I have and use a credit/debit card clearing house.  It is a major expense for me.  I believe people who pay cash are entitled to a discount.  It steams me when, as I saw the other day, someone "swipe" for NINETY cents!  The only profit there was for the bank.

The "plastic money" concept may be the most successful marketing effort of all time. I advocate carrying a modest amount of cash and use that for purchases under, say, $25.  Checks are still fine too (when they don't bounce!).

 
Small merchants get it the worst, it seems. They're not going to drop the same as cash part, because that would put them on an uneven footing with other forma of payment. But I do think they could stand to charge more reasonable fees - maybe some kind of sliding scale. 
winter

winter Avatar

Location: in exile, as always
Gender: Male


Posted: May 20, 2012 - 9:59am

 islander wrote:

True, but a lot of smaller merchants do it all the time. The $5 minimum is really common here in convenience stores.  It depends a lot on the merchant and your relationship with them.

 
They do it often, yes. And most customers know why and have no problem with it.

But you get one guy who gets bent out of shape that he has to pay more for the same stuff because he didn't have time to stop at the ATM ... 
winter

winter Avatar

Location: in exile, as always
Gender: Male


Posted: May 20, 2012 - 9:57am

 kurtster wrote:

CC and debit cards do not get declined any more.  But a GC does run out of funds.

I remember about 5 years ago the first time I ever had an experience where my CC was maxed out but still accepted.  I knew I was close, and it was within the monthly interest fee which posts at a certain time.  I miss calculated and holy fark.

I called the bank and said WTF, I was expecting it to be declined if I had maxed out.  They said that htey no longer declined transactions based upon available credit.  They just let it go through collecting all the overdraft fees and raising the core interest rate.  I was able to get a Mulligan and had some fees reversed.  But it only had to happen once to me.  It seems that has become the way of plastic.  Lack of available funds no longer results in a decline in most cases.  Most dangerous to those who live life near the max.

 
They'll often let it go through if it's not too far over and the account's generally in good standing, but there are very definite limits to that tolerance. And some banks give you a choice: you can tell them not to let anything go through that would put the account overlimit, or you can avoid being embarrassed with a declined card and pay an overlimit fee (and possibly higher rates) for the privilege.
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