The UK cash system is on the verge of collapse a report finds Watch

Rock Fan
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Thoughts on this https://www.theguardian.com/money/20...e-report-finds
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Puddles the Monkey
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Wow, I'm surprised debit cards only took over last year - thought that would have happened years ago.

Contactless killed using cash for me. I used to take cash for going out to pubs/bars etc. and small transactions, but now I can just go 'boop' with my card instead of putting in a pin it's so much faster and easier...
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Andrew97
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I don’t like the way this is going.

Some Self checkouts now no longer accept cash, if the machine goes down or if VISA have issues then we are screwed.

Cash also makes budgeting easier, I feel a move to card and contactless will have a negative impact on poorer people.
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jameswhughes
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I rarely use cash these days, it's only for the tiny places that don't accept cards and even now most of those have card readers.

(Original post by Andrew97)
Some Self checkouts now no longer accept cash, if the machine goes down or if VISA have issues then we are screwed.
I think if there's a power cut or similar then supermarkets are in just as much trouble for all transactions as the tills wouldn't work, and they'd have no way to process the cash. (People wouldn't be able to get it out of an ATM either in this case.)
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1Person
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It has been some months since when I have started to use Apple Pay and since then I have even stopped carrying my wallet around and never had a problem.
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oxscam
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I think there is still a market for transactions that you might be embarased about undertaking or even things like presents that you want to be hidden, but in general I agree that the cashless process is a hundred times easier than cash - which is more fiddly and harder to carry around with you. But the UK is still behind much of the world when it comes to cashless transactions, in many countries it's now more normal to use mobile transactions as opposed to card, let alone cash.
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oxscam
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(Original post by 1Person)
It has been some months since when I have started to use Apple Pay and since then I have even stopped carrying my wallet around and never had a problem.
But losing your mobile phone is akin to an apocolypse.
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1Person
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(Original post by oxscam)
But losing your mobile phone is akin to an apocolypse.
That's true but my digital wallet is protected so I won't lose my money and I would still be able to use the credit cards that I have at home (I would just have to find a way to come back home :lol:). Indeed, I would worry much more about the value of the phone itself as I don't really want to spend a grand to buy a new one.
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scorpion95
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I still use cash occasionally but I do think that cash is and has to end. It is good for somethings but many places prefer not to accept cash. It will affect smaller businesses more than the larger ones. It would mean that businesses are less likely to get out of paying tax due to all transactions will be recorded which with a cash only business can miss some transactions off resulting in less tax being charged by HMRC.

Cash is also a hassle to carry around especially if you have a lot of small change it can be annoying and bit harder to get rid of whereas a cashless society all you have to carry around is debit/credit card and phone. Without cash your wouldn't have to keep updating the style of the coins and notes which would be beneficial for the country and cost effective But in the future we will all have chips implanted in our arm or hand which will be all your cards in your wallet basically.

If I had to choose then I would probably say that I would prefer to be able to pay for everything on card than using cash.
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Just my opinion
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At the risk of sounding paranoid for me it is the fact that you aren't anonymous anymore the authorities, should they want to, can track where and when you are and exactly how much and what you spend on. as this information is digital it can be stored indefinitely. A complete map of your movements, life spending habits etc can be created.
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Decahedron
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How are people going to pay their drug dealers?
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paul514
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Purely from a taxation perspective moving to a cashless system is much better as every income and outgoing can be tracked.

Just think how much tax is missed because of people not declaring cash payments.
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joey11223
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(Original post by jameswhughes)
I rarely use cash these days, it's only for the tiny places that don't accept cards and even now most of those have card readers.



I think if there's a power cut or similar then supermarkets are in just as much trouble for all transactions as the tills wouldn't work, and they'd have no way to process the cash. (People wouldn't be able to get it out of an ATM either in this case.)
Tbf back when I worked in a small supermarket we did have a couple of instances where the card readers were down due to a bug (only twice in a few years to my knowledge but still), we had to only accept cash once for an entire day, had to put up giant signs all over the shop saying sorry no card, cash only due to breakdown etc. You can imagine how many people managed to go through the entire shop with a trolley full of things and still...only have a card to pay with.

I like cash tbh, at least it's easy, technical issues are not uncommon, you're expecting every single small business, takeaway delivery man etc, to have a card reader, even as simple as someone literally dropping the thing on the floor and breaking it puts them totally unable to function....or they could just be handed physical currency and be fine...
Last edited by joey11223; 2 weeks ago
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Bio 7
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I’ve been using Google pay for a year and a half now and have had a few notes in my wallet for I don’t know how long. Maybe 5 or 6 months. Using money is mostly pointless.
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Last edited by Bio 7; 2 weeks ago
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jameswhughes
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(Original post by joey11223)
I like cash tbh, at least it's easy, technical issues are not uncommon, you're expecting every single small business, takeaway delivery man etc, to have a card reader, even as simple as someone literally dropping the thing on the floor and breaking it puts them totally unable to function....or they could just be handed physical currency and be fine...
Cash has its downsides too, you have to prepare floats for the tills, security, transport and if you're a business you pay fees to put it into the bank. I think especially now card readers are cheaper and more compact than before more small businesses will adapt.

As for dropping things, I'd completely turn that round and say a card reader/contactless pad mounted on the wall is pretty safe and can't be dropped or lost like coins (London buses are a great example of this).
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Decahedron
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(Original post by joey11223)
Tbf back when I worked in a small supermarket we did have a couple of instances where the card readers were down due to a bug (only twice in a few years to my knowledge but still), we had to only accept cash once for an entire day, had to put up giant signs all over the shop saying sorry no card, cash only due to breakdown etc. You can imagine how many people managed to go through the entire shop with a trolley full of things and still...only have a card to pay with.

I like cash tbh, at least it's easy, technical issues are not uncommon, you're expecting every single small business, takeaway delivery man etc, to have a card reader, even as simple as someone literally dropping the thing on the floor and breaking it puts them totally unable to function....or they could just be handed physical currency and be fine...
Most small businesses take card these days, it is just good business.
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