When the stuff kicked off in March, I was scared, had no clue what would happen, and took out a healthy wad of cash £, just in case.
It's the people who didn't have that option that I feel sorry for.
That ATM
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It's the people who didn't have that option that I feel sorry for.
I still use cash for most of my in person transactions. I usually have at least a couple hundred on me, and when it runs out I'll go to the machine and get more. Folded with the big notes on the outside.
I'm just old fashioned I guess, but it helps me keep track of my spending.
I did use my card to buy some furniture the other day because I didn't have enough cash on me. I beeped the card, and my phone went ping!. The receipt was sent straight to my phone, which is kind of convenient.
I'm just old fashioned I guess, but it helps me keep track of my spending.
I did use my card to buy some furniture the other day because I didn't have enough cash on me. I beeped the card, and my phone went ping!. The receipt was sent straight to my phone, which is kind of convenient.
I try to always keep a few bucks on me just in case. I know it sounds odd, but it hurts when I pull out cash. Credit Cards have too many protections and benefits for me to use cash.
- My purchases are protected (V/MA/AXP/Banks have a lot of lawyers)
- The Merchant is protected (V/MA/AXP/Banks have a lot of lawyers)
- My cash is protected from theft (No large amount of cash on hand)
- Cashback/Points (Have to make a purchase, might as well get something back)
- Cash spent gets a billing cycle to gain interest
- Odd benefits (Extra cashback with some purchases, Entertainment offers, Travel benefits)
- Less space taken up for EDC
I just remembered about 40 years ago, my bank had just gotten their first ATM. I got $60 out for the weekend and when I counted my money I discovered that two twenties had stuck together and it gave me $80. Since the ATM was attached to the bank, I went inside to give them back the extra twenty and they wouldn’t take it. They looked at me like I was nuts.
A bit of advice. Don't use a debit card connected to your checking account especially if it is your primary account. If someone duplicates the card, they can wipe out your balance and all Hell will break loose with autodrafts and convincing the bank to put the money back. We have a credit card that is used for all non-cash transactions that we pay off every month. Being old, I have reminders on my Google calendar.
We were on vacation at the beach when someone used our credit card in Chicago. The bank locked the card before there was much damage. They were watching the account because they suspected an Employee had sold a file to scammers. They had been "quit" from a previous bank for doing the same thing.
We were on vacation at the beach when someone used our credit card in Chicago. The bank locked the card before there was much damage. They were watching the account because they suspected an Employee had sold a file to scammers. They had been "quit" from a previous bank for doing the same thing.
I won’t have a debit card for that very reason. I use my Discover card for most transactions and pay it off at the end of the month. I only write about three checks each month and almost never use cash. I’ve only had my Discover card compromised twice in 20 years and both times they caught it and it never cost me a penny.
Precovid, occasionally when going to a poker game. Occasionally to have tipping cash for when I use a giftcard at a restaurant. Otherwise? When making a craigslist/facebook marketplace/etc purchase. Maybe 3-10x a year?
I like to use cash for small purchases, but with covid-19 and the small change shortage I have only been to the ATM once since March.
Once the ATMs start being pulled out due to lack of use, I wonder what will happen to the physical bank branches. Seems like there are a lot of physical banks.
Once the ATMs start being pulled out due to lack of use, I wonder what will happen to the physical bank branches. Seems like there are a lot of physical banks.
I always have cash in my wallet. There are simply many instances where a credit card is not accepted. Girl Scout cookies, door to door fundraisers, a lunch group buy at work, and so on. But an ATM? Gezz, haven‘t visited one in a long time. Typically I just get what I need from using my debit at the checkout.
All the cash in my wallet right now has come from family members needing something ordered online and asking me to do it cause none of them have a credit card or the know-how to order online. So I just place an Amazon order and take their cash. It would be a good business if I charged a fee. Cash is kind of a burden to me too because I don’t spend it. I cleaned my desk off a long while ago and found $300 bucks hidden under a toothpick box. I completely forgot it was there.
I’ve gotten to where I buy everything with the Discover card and when the statement comes I pay it off online. It’s just way more convenient.
Something else that’s super convenient- I always get my gas from Speedway. Always pay at the pump. Now they take the contactless payment so that’s awesome. I just grab my phone, scan my reward card, swipe up to the Discover and tap that and good to go.
I don’t even write checks. I still have the very first set of checks I ordered from my bank about 8 or 9 years ago. I think I’m on check 140 or something.
All the cash in my wallet right now has come from family members needing something ordered online and asking me to do it cause none of them have a credit card or the know-how to order online. So I just place an Amazon order and take their cash. It would be a good business if I charged a fee. Cash is kind of a burden to me too because I don’t spend it. I cleaned my desk off a long while ago and found $300 bucks hidden under a toothpick box. I completely forgot it was there.
I’ve gotten to where I buy everything with the Discover card and when the statement comes I pay it off online. It’s just way more convenient.
Something else that’s super convenient- I always get my gas from Speedway. Always pay at the pump. Now they take the contactless payment so that’s awesome. I just grab my phone, scan my reward card, swipe up to the Discover and tap that and good to go.
I don’t even write checks. I still have the very first set of checks I ordered from my bank about 8 or 9 years ago. I think I’m on check 140 or something.
Actually USD is pretty much a one world currency already. Plus the SIFIs (which are panglobal) have a vested interest in reducing the frictional cost of transactions, which means cashless pretty much. Collectively they trump any individual government. No pun intended.
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Now that is funny! Not funny if it was under a box of matches or a box of mints, but a box of toothpicks? Yes, that made me smile. Finally the screen name is legit!
That is a sensible approach. I have never used my debit card, except as an ATM card. I always pay using cash or a credit card out of caution.
Lots of small transactions like buying lunch or a cup of coffee clutter up the CC statement, which is one reason I like to use cash. But not really possible since covid caused people to hoard coins more than normal.....I still don't quite understand that dynamic.
I'm moving to your place!
More so to do with the country being shutdown and no one spending money. Retailers preferring contactless payments. And the US Mint reduced their staff during the pandemic. I don’t think it has much to do with hoarding coins. We were already a majority debit/credit society anyway. Toss those 3 ingredients in to the pot and the coins disappear.
I do try to keep cash on me as there are still plenty of cash only occasions (anecdote below), but I think phones and devices like smart watches are on the way to replacing cards. In the not too distant future, I think we will look at swiping cards as a little outside the times like writing a check at the grocery store.
Sometimes I fail to carry cash and this weekend it bit me when I went to an ice cream store that was cash only. I had lost my debit card a week earlier and the replacement was in the mail, my wife had left her purse at home. I realized my predicament only after the ice cream had been scooped but the owner let me have it with a promise to return (I rewarded his trust with a generous tip, at least by ice cream standards). This generosity was good, because my 2 year old was about to make things worse if I returned to the car without ice cream.
So here I was with no debit card, an ATM right nearby, and I really didnt want make a round trip back home (mostly because of the kids). But I was able to resolve the issue by creating a digital debit card on my phone through the BOA app and withdraw money with that. It's a pretty amazing world we live in.
Sometimes I fail to carry cash and this weekend it bit me when I went to an ice cream store that was cash only. I had lost my debit card a week earlier and the replacement was in the mail, my wife had left her purse at home. I realized my predicament only after the ice cream had been scooped but the owner let me have it with a promise to return (I rewarded his trust with a generous tip, at least by ice cream standards). This generosity was good, because my 2 year old was about to make things worse if I returned to the car without ice cream.
So here I was with no debit card, an ATM right nearby, and I really didnt want make a round trip back home (mostly because of the kids). But I was able to resolve the issue by creating a digital debit card on my phone through the BOA app and withdraw money with that. It's a pretty amazing world we live in.
It's actually more about eliminating the underground economy, and ensuring they can collect every nickel of taxation they feel entitled to.
Finally figured out how to get through the various ATM screens. Had me stumped for awhile.
And I wasn't alone. A call to the CU to ask for assistance got me a person who was exasperated with all the older folks complaining about the new ATM screens! lol
And I wasn't alone. A call to the CU to ask for assistance got me a person who was exasperated with all the older folks complaining about the new ATM screens! lol
I think that the younger programmers just program the way that they think it should be instead of talking to users and figure out what “they” expect. I was taught to program for your customer, not for you.
Do you mean Brexit?
