3 ms·

I'm on the fence about this. A business can take whichever currency it wants, but at the same time we are slowly being nudged towards a cashless society. Someth

I'm on the fence about this. A business can take whichever currency it wants, but at the same time we are slowly being nudged towards a cashless society. Something I do not like. I think if a business takes in more than a certain amount of money, then it should be obligated to take cash. Some type of obligation but I don't know where to draw the line. With that said, I was traveling outside of America and found retailers charging a fee for using a phone to pay. That irks me. Government is pushing for a cashless society, but some retailers still preferring cash and penalizing when you pay by card. I have seen this in the States but not nearly as much abroad until recently.

Cthulhu_ 2y ago
Cash means they need to have a (timed) safe and hire a company to securely pick up the takings, which adds a lot of cost, plus having cash makes you a target for robbery. You can do it without, but that only increases the chance of robbery. Retailes charge a fee for digital payments because the payment provider charges them a fee, for example 25 cents + a percentage per transaction, + the cost or lease of the payment terminal and / or software; if it's small purchases like a drink or takeaway food, that's a significant percentage. Second, small retailers / sellers may prefer cash, because cash is untaxed as long as you don't log / report all your transactions. Basically, it's a mixed bag. Cash means you can avoid taxes if you don't digitally log / report all your sales, but it means you're a higher risk for robbery.
pjmlp 2y ago
In Europe, Germany is well known for having many places that still don't take cards to this day.
- dalke 2y ago
  Last time I was in Switzerland, back in 2015 or so, the B&B I stayed in was cash only. The stay cost something like 500 CHF, or nearly 600 USD.
dalke 2y ago
More and more places here in Sweden do not accept cash, and I don't like it. I have the usual personal reasons: - I don't like individualized tracking, - there's no backup solution if my stuff gets stolen (10 years ago my bank card stopped working during a trip to Germany. I borrowed cash from friends for the rest of the trip and paid them back) - I'm dependent on a single bank (I've wondered if I should open an account at a second bank) - It depends on an international network to always work, which doesn't seem to be true even here. - More abstractly, since the SWIFT system depends on the US, US laws get to decide who cannot have a bank account, as when the US recently classified a couple of Swedes as terrorists. I also have a problem because my eldest is old enough to go places on his own, but many years before he'll get a bank card or smart phone. Some of the places which no longer accept cash are public toilets (card only), the local minigolf course, and the swimming pool. When I was that age, my Mom would give enough money to go somewhere and be able to pay for a ticket and maybe a snack or soda. In a cashless culture, I don't see how my kids will have that level of independence from us until they are old enough to have a bank card. My eldest still loses his library card about half the time, so that's not going to be soon, and their first phones - which will not be smartphones - won't be for years.

Cthulhu_ 2y ago

Cash means they need to have a (timed) safe and hire a company to securely pick up the takings, which adds a lot of cost, plus having cash makes you a target for robbery. You can do it without, but that only increases the chance of robbery. Retailes charge a fee for digital payments because the payment provider charges them a fee, for example 25 cents + a percentage per transaction, + the cost or lease of the payment terminal and / or software; if it's small purchases like a drink or takeaway food, that's a significant percentage. Second, small retailers / sellers may prefer cash, because cash is untaxed as long as you don't log / report all your transactions. Basically, it's a mixed bag. Cash means you can avoid taxes if you don't digitally log / report all your sales, but it means you're a higher risk for robbery.

pjmlp 2y ago

In Europe, Germany is well known for having many places that still don't take cards to this day.

dalke 2y ago
Last time I was in Switzerland, back in 2015 or so, the B&B I stayed in was cash only. The stay cost something like 500 CHF, or nearly 600 USD.

dalke 2y ago

More and more places here in Sweden do not accept cash, and I don't like it. I have the usual personal reasons: - I don't like individualized tracking, - there's no backup solution if my stuff gets stolen (10 years ago my bank card stopped working during a trip to Germany. I borrowed cash from friends for the rest of the trip and paid them back) - I'm dependent on a single bank (I've wondered if I should open an account at a second bank) - It depends on an international network to always work, which doesn't seem to be true even here. - More abstractly, since the SWIFT system depends on the US, US laws get to decide who cannot have a bank account, as when the US recently classified a couple of Swedes as terrorists. I also have a problem because my eldest is old enough to go places on his own, but many years before he'll get a bank card or smart phone. Some of the places which no longer accept cash are public toilets (card only), the local minigolf course, and the swimming pool. When I was that age, my Mom would give enough money to go somewhere and be able to pay for a ticket and maybe a snack or soda. In a cashless culture, I don't see how my kids will have that level of independence from us until they are old enough to have a bank card. My eldest still loses his library card about half the time, so that's not going to be soon, and their first phones - which will not be smartphones - won't be for years.