[Goodbloke]

Cash or Card ?​

Why should we pay cash everywhere with banknotes instead of a card ?
- I have a $50 banknote in my pocket. Going to a restaurant and paying for dinner with it. The restaurant owner then uses the bill to pay for the laundry. The laundry owner then uses the bill to pay the barber. The barber will then use the bill for shopping. After an unlimited number of payments, it will still remain a $50, which has fulfilled its purpose to everyone who used it for payment and the bank has jumped dry from every cash payment transaction made..

- But if I come to a restaurant and pay for digitally - Card, bank fees for my payment transaction charged to the seller are 3%, so around $1.50 and so will the fee $1.50 for each further payment transaction or owner re laundry or payments of the owner of the laundry shop, or payments of the barber etc..... Therefore, after 30 transactions, the initial $50 will remain only $5 and the remaining $45 became the property of the bank thanks to all digital transactions and fees.

Certainly an interesting way to think about it all...

 

[Sethia Soliman]

Cash or Card ?​

Why should we pay cash everywhere with banknotes instead of a card ?
- I have a $50 banknote in my pocket. Going to a restaurant and paying for dinner with it. The restaurant owner then uses the bill to pay for the laundry. The laundry owner then uses the bill to pay the barber. The barber will then use the bill for shopping. After an unlimited number of payments, it will still remain a $50, which has fulfilled its purpose to everyone who used it for payment and the bank has jumped dry from every cash payment transaction made..

- But if I come to a restaurant and pay for digitally - Card, bank fees for my payment transaction charged to the seller are 3%, so around $1.50 and so will the fee $1.50 for each further payment transaction or owner re laundry or payments of the owner of the laundry shop, or payments of the barber etc..... Therefore, after 30 transactions, the initial $50 will remain only $5 and the remaining $45 became the property of the bank thanks to all digital transactions and fees.

Certainly an interesting way to think about it all...

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This is actually very thought-provoking. I'm curious to see what the other members think!

 

[Kawi]

Cash. For many reasons the biggest being loss of freedom without it.

 

[krisbai]

I have often wondered why it is we have to pay for the privilege to use the banks debit cards to spend my own money, then I go back and wonder why it is that businesses started using banks to pay us our wages.
I am no conspiracy theorist, but still. A lot has changed since I received my first weekly wage in a brown envelope as cash.

The banks make enough money on the interest they charge to loan out the money we have in savings.

 

[June E]

I can’t understand why we don’t get a choice ? Can’t we have a referendum or something ?
We are being forced into far too many things just lately. The banks, the gov, the shops with all the new rules re self checkouts ! All the people they are bringing into the country with no forward plans about infrastructure, housing, roads, schools, hospitals. I hate to think where it’s all going to end.