The Declining Use of Cash in the UK

[sovereignsteve]

I wouldn't feel dressed without having some cash on me, certainly wouldn't be able to leave the house.

[dunmac]

1 hour ago, kimchi said:

I'm surprised nobody has mentioned 'Sesame Credit' yet.

Black Mirror Season 3 Episode 1 for any who haven't watched it.

[Martlet]

6 hours ago, PansPurse said:

I'm probably more worried about companies like Facebook setting up their own payment tokens free from any kind of regulatory oversight than I am about ATM closures

That's happening, they are planning their own crypto.  Not sure what the concern is though. 

[HelpingHands]

10 minutes ago, Martlet said:

That's happening, they are planning their own crypto.  Not sure what the concern is though. 

Pegged to the dollar.  The only benefit will be for facebook who can look after other people's money and collect interest on it.

I suspect they will start some sort of tipping feature.  If you like a post the creator will earn something.

[Fastnick]

I find it fascinating to see how ideas/new concepts are born and develop, which ones flourish and which ones fall by the wayside....

All good stuff and jolly good fun 

[PansPurse]

54 minutes ago, Martlet said:

That's happening, they are planning their own crypto.  Not sure what the concern is though. 

The right to be paid in cash is something workers had to fight for.

[universalcurrency]

Ahh, the bad old days of 'trucking' an interesting topic in itself, where company 'employees where forced to take tokens that could only be exchanged for good in the co. store usually at vastly inflated prices.  I shouldn't think anyone would what to recycle that idea.  Then again the tories thought it would be a good idea to re-invent the polltax and with predictable outcomes on both occasions!

However getting back on topic I am sure that facebook tokens would be convertable just like steemit.

[AppleZippoandMetronome]

I have to admit to being quite guilty of embracing contactless though I wouldn't go as far as to say cashless entirely. I do like to have cash on me - just incase. But I really hate everything about shopping and any kind of retail. If there is a way to make that easier and faster then I'll do it, simple as. Guilty here.

[Derv]

1 hour ago, AppleZippoandMetronome said:

I have to admit to being quite guilty of embracing contactless though I wouldn't go as far as to say cashless entirely. I do like to have cash on me - just incase. But I really hate everything about shopping and any kind of retail. If there is a way to make that easier and faster then I'll do it, simple as. Guilty here.

I'm kind of similar, though I do understand the importance and necessity to keep cash going. As I feel like others once it dwindles to a certain level the powers that be will do away with it which I think is not good at all. 

cash should always be available I feel . Digits are trackable and traceable and have no soul.

I really must make a concerted effort to use cash more often.

[Kman]

Reminds of that Benjamin Franklin quote 

"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety."

But swap out safety for convenience in this case lol

I know cash is better in the grand scheme but boy is contactless by far the more convenient 

[Martlet]

3 hours ago, PansPurse said:

The right to be paid in cash is something workers had to fight for.

Maybe a risk if you're an employee.  I expect it more like glorified gift voucher, except transferable to others.  Im "meh" about the prospect, jumping on the bandwagon.

[Tn21]

Went to the bank this am to withdraw £1k + to pay off my liabilities and have a bit of cash in the wallet. 

In the end I could not withdraw the amount I wanted to because I did not have ID. Max was £1k. Now it's been a while since I been to the bank but it's got me thinking the retail banks are reducing their services and putting up evermore barriers for account holders to withdraw their own hard earned money. 

 

Hmmm all in PM's is it viable 🤔

[AppleZippoandMetronome]

10 hours ago, Derv said:

I'm kind of similar, though I do understand the importance and necessity to keep cash going. As I feel like others once it dwindles to a certain level the powers that be will do away with it which I think is not good at all. 

cash should always be available I feel . Digits are trackable and traceable and have no soul.

I really must make a concerted effort to use cash more often.

I totally get the importance and agree with most of what has been said in this thread. Another part of the equation I feel though - and I expect this not to go down well - is how inevitable I see all of this as being. Cash isn't the future. I can protest all I want about it by refusing to use cards, contactless, my phone, etc, etc but it isn't going to change anything. We're still going to arrive at a point where the younger generation who just want to use these payment methods are the main demographic and anyone holding out will frankly lose.

I fight the current state of things by putting my money into physical tangible things which to date is property, silver and gold. I have very little in cash savings or other digital forms because I frankly don't trust them. That is my protest and my protection. We aren't going to win this cashless war so I don't see the point in fighting it.

[TonyS]

On 07/06/2019 at 13:56, TonyS said:

Nowadays the only time I use cash is in the pub.

I called in my local yesterday they now take cards 

[Fastnick]

I did make mention of this in another post, so my apologies to those of you who are already aware of this.....

In February I was treated by a kindly friend to one of the organised visitor tours of The Royal Mint, and during the course of the day our guides informed us that the decline in the amount of cash transactions is having a direct impact on their core business - hence the reason why The Royal Mint is having a big push to secure orders to produce currencies for other countries, as well as increasing the number of special edition/commemorative coins that will appeal to collectors.

[Roy]

18 hours ago, PansPurse said:

The right to be paid in cash is something workers had to fight for.

Does anyone remember the wage packet?

A small envelope with your wages in (less than £100 then) with a staple through it.

[JunkBond]

Certainly do Roy, when I first started work in 1979 my weekly wage packet was stuffed full of £27. 👍

[Xander]

My first wage packet held £4,19s 11d 

I had to half it with the old dear.

[Roy]

I couldn't remember JB but £27 sounds about right!

Went a long way too.

 

[Roy]

1 minute ago, Xander said:

My first wage packet held £4,19s 11d 

I had to half it with the old dear.

well done.

I paid board but not half 👍

[Roy]

I lost one once JB.

I used to cycle to work then. On Thursday I got paid, put it in my back pocket and rode home.

At home, I checked and it had gone. I spent hours retracing my route but no. Gone. 🙁

 

[JunkBond]

Not much beer that weekend then mate!

[JunkBond]

15 minutes ago, Roy said:

Went a long way too.

 

I think a pint of bitter was 46p

[Roy]

Lol it was the old dear who I was worried about!

Wait a minute...46p a pint? So approx 55 pints for your wages?

Snowflake price is £4 so 55 x 4 = £220. They can afford more beer than we could!

[MickD]

12 minutes ago, JunkBond said:

I think a pint of bitter was 46p

First pint was 23 pence but it was in a hotel's staff bar and I think I was only fourteen.  Fruit machine and fag machine in the basement.  50 pence an hour and £20 for first 40 hour week didn't last long.