Your wrong about supermarkets preferring cash. The effort involved in counting, transporting, banking and the risk far outweigh the small fees for processing card transactions. The reason supermarkets started doing cash back was to get cash out of the tills its not for customer benefit.
Did you listen to the radio clip I linked to? I'm just going on that, as I reckon the interviewee probably knows more about it that you or I.
They've still got to count, transport and bank the cash they do get. As far as the fees, they are small, but multiplied countless times over, they will mount up to a very considerable sum of money.
Supermarkets prefer cash, as it incurs less cost for them.
Cash is always the most expensive part of an operation. The costs include banking charge (usually per £100 banked), cost of counting and reconciling the physical notes and coins, secure transportation to a cash centre. These vastly outweigh: debit cards about 20p per transaction and less than 1.5% for credit cards.
I tend to use card more than cash. The only thing I really pay for with cash are taxis and drinks in the pub. I leave tips in restaurants in cash too.
I'm not sure how well just using cards would work on a night out though, paying with card every time you go to the bar would seem a bit strange and I'm not convinced it'd be quicker.
Cash is always the most expensive part of an operation. The costs include banking charge (usually per £100 banked), cost of counting and reconciling the physical notes and coins, secure transportation to a cash centre. These vastly outweigh: debit cards about 20p per transaction and less than 1.5% for credit cards.
I'm in danger of repeating myself again and again here. Did youi listen to the radio clip I linked to earlier? This is where I got the information from in the first place, that supermarkets prefer cash.
I tend to use card more than cash. The only thing I really pay for with cash are taxis and drinks in the pub. I leave tips in restaurants in cash too.
I'm not sure how well just using cards would work on a night out though, paying with card every time you go to the bar would seem a bit strange and I'm not convinced it'd be quicker.
Contactless cards are much quicker than cash. It's what I use in a bar when available these days.
I'm in danger of repeating myself again and again here. Did youi listen to the radio clip I linked to earlier? This is where I got the information from in the first place, that supermarkets prefer cash.
No, I can't listen to it at work.
However, my comments are based on direct experience of charges and operational requirements.
It's ever so simple, honest. You fill in a paying in slip - very easy. Then attach the cheque to it, stick it in an envelope, address the envelope to your bank branch, affix a stamp, and post in a letter box - one of those red things as said above.
Contactless cards are much quicker than cash. It's what I use in a bar when available these days.
They are if what you want to buy is under £20 (£30 soon, I believe), and the place has got a contactless machine. So far, I've only been in two places where they have contactless, one was Greggs, and the other Costa Coffee.
It's ever so simple, honest. You fill in a paying in slip - very easy. Then attach the cheque to it, stick it in an envelope, address the envelope to your bank branch, affix a stamp, and post in a letter box - one of those red things as said above.
Job done, saves your legs and any inconvenience.
I honestly wouldn't have considered that as an option. Where do I get a paying in slip from (please don't say the bank lol )?
They are if what you want to buy is under £20 (£30 soon, I believe), and the place has got a contactless machine. So far, I've only been in two places where they have contactless, one was Greggs, and the other Costa Coffee.
Haven't see one in a supermarket yet.
Ideal in bars, a lot seem to have them. Great for buses if they would hurry up and adopt the technology. Supermarkets seem slow in picking it up though. The Co-op near me has them.
I'm in danger of repeating myself again and again here. Did youi listen to the radio clip I linked to earlier? This is where I got the information from in the first place, that supermarkets prefer cash.
I got my information from a training course I went on where the trainer was a former change manager at a large supermarket brand he ran the project responsible for introducing cash back. His whole scope in his job was to try and get as much cash out of the supermarket as possible. The costs of cash to a business will be much larger than card processing transactions Tesco wont pay the same rate to the banks as a local newsagents.
I got my information from a training course I went on where the trainer was a former change manager at a large supermarket brand responsible for introducing cash back. His whole scope in his job was to try and get as much cash out of the supermarket as possible. The costs of cash to a business will be much larger than card processing transactions Tesco wont pay the same rate to the banks as a local newsagents.
Then it appears we have a clash of opinion. One says one thing, you and others say completely different.
I suspect the truth is somewhere in between, as there are many factors to be taken into account.
The Danish government is proposing legislation to end the obligation for some businesses to accept cash payments.
I do not like the idea of a completely cashless society. It gives more power to the banks, allows them to take a cut from every single transaction, and removes the ability of individuals to make untraceable transactions free from any third party involvement.
I can't imagine using my card in the local Londis for a can of coke at 69p, they also charge 50p for card transactions under £5, I can't imagine the local kebab van having a card machine. The chip shop near us only got a card machine the year before last. How will parents give their children pocket money, I can't see adults giving their 4 or 5 year old a card with cash on it.
I can't imagine using my card in the local Londis for a can of coke at 69p, they also charge 50p for card transactions under £5, I can't imagine the local kebab van having a card machine. The chip shop near us only got a card machine the year before last. How will parents give their children pocket money, I can't see adults giving their 4 or 5 year old a card with cash on it.
But just because you can't imagine it doesn't mean it won't happen.
I can't imagine using my card in the local Londis for a can of coke at 69p, they also charge 50p for card transactions under £5, I can't imagine the local kebab van having a card machine. The chip shop near us only got a card machine the year before last. How will parents give their children pocket money, I can't see adults giving their 4 or 5 year old a card with cash on it.
Some years ago we couldn't imagine using debit cards instead of cash or cheques. Now look at us.
It's ever so simple, honest. You fill in a paying in slip - very easy. Then attach the cheque to it, stick it in an envelope, address the envelope to your bank branch, affix a stamp, and post in a letter box - one of those red things as said above.
Job done, saves your legs and any inconvenience.
If this were me, I would have to go out and buy a stamp first and where on earth would I get the paying in slip from?
I can't imagine using my card in the local Londis for a can of coke at 69p, they also charge 50p for card transactions under £5, I can't imagine the local kebab van having a card machine. The chip shop near us only got a card machine the year before last. How will parents give their children pocket money, I can't see adults giving their 4 or 5 year old a card with cash on it.
I have just used my contacless card in the local coffee shop to buy a 75p can of coke. So it will happen the more its used the more it will seem common place.
We will not go cashless for years, I doubt it will happen in any of our lifetimes.
I prefer cash and use it as much as I can, In fact after too many times asking my bank have just replace my Contactless card with a normal card.
~Happy days.
.....despite the fact that last year, for the first time, non cash transactions exceeded cash payments for the first time.
People still like to have notes and coins in their possession. Yes, card and direct debit payments are useful, but they can never totally replace cash. I certainly hope they don't as it will mean that you can never drop out of sight for a few days if you want to, nor can "discount for cash" transactions occur again.
Supermarkets prefer cash, as it incurs less cost for them. Also, many e bay sellers prefer a cheque, as paypal also incurs a cost.
I have noticed though, that you simply don't get the queues at ATM's that used to happen. That might be because there are more of them.
I use cash for everything, and on the times when there's no avoiding using a card like online I buy a prepaid debit card then use that to make the purchase online. I don't like the idea of transactions being logged and datamined so avoid using payment methods that can be linked to my name.
>>>>>>> Agreed - But outlets for spending cash are gradually being closed.
ie - You can no longer use cash for these purchases -
Premium Bonds
Pensioners Bonds
London bus fares
Some parking meters
There may also be others I may have missed.
You can't use cash for online purchases either (or very rarely). Perhaps the move towards buying things online (or being encouraged or forced to do so) might have something to do with it...
Comments
Did you listen to the radio clip I linked to? I'm just going on that, as I reckon the interviewee probably knows more about it that you or I.
They've still got to count, transport and bank the cash they do get. As far as the fees, they are small, but multiplied countless times over, they will mount up to a very considerable sum of money.
I'm not sure how well just using cards would work on a night out though, paying with card every time you go to the bar would seem a bit strange and I'm not convinced it'd be quicker.
I'm in danger of repeating myself again and again here. Did youi listen to the radio clip I linked to earlier? This is where I got the information from in the first place, that supermarkets prefer cash.
Contactless cards are much quicker than cash. It's what I use in a bar when available these days.
However, my comments are based on direct experience of charges and operational requirements.
It's ever so simple, honest. You fill in a paying in slip - very easy. Then attach the cheque to it, stick it in an envelope, address the envelope to your bank branch, affix a stamp, and post in a letter box - one of those red things as said above.
Job done, saves your legs and any inconvenience.
They are if what you want to buy is under £20 (£30 soon, I believe), and the place has got a contactless machine. So far, I've only been in two places where they have contactless, one was Greggs, and the other Costa Coffee.
Haven't see one in a supermarket yet.
I honestly wouldn't have considered that as an option. Where do I get a paying in slip from (please don't say the bank lol
Inside a cheque book lol :kitty: Hopefully you can order one on line.
Although you can actually get them inside a bank. You'll need one for your £30 refund cheque when you get round to paying it in.
https://www.visa.co.uk/products/visa-contactless/#where_can_i_use
This was all covered in the last contactless card large thread.
Ideal in bars, a lot seem to have them. Great for buses if they would hurry up and adopt the technology. Supermarkets seem slow in picking it up though. The Co-op near me has them.
Well, Tesco, the co-op & Waitrose, anyway.
I'm still waiting to see one in ASDA, which is where I shop.
Actually, it would be very convenient and speed up the self scan operation even more.
I got my information from a training course I went on where the trainer was a former change manager at a large supermarket brand he ran the project responsible for introducing cash back. His whole scope in his job was to try and get as much cash out of the supermarket as possible. The costs of cash to a business will be much larger than card processing transactions Tesco wont pay the same rate to the banks as a local newsagents.
Then it appears we have a clash of opinion. One says one thing, you and others say completely different.
I suspect the truth is somewhere in between, as there are many factors to be taken into account.
Also M&S and Aldi.
I do not like the idea of a completely cashless society. It gives more power to the banks, allows them to take a cut from every single transaction, and removes the ability of individuals to make untraceable transactions free from any third party involvement.
But just because you can't imagine it doesn't mean it won't happen.
Some years ago we couldn't imagine using debit cards instead of cash or cheques. Now look at us.
If this were me, I would have to go out and buy a stamp first and where on earth would I get the paying in slip from?
I have just used my contacless card in the local coffee shop to buy a 75p can of coke. So it will happen the more its used the more it will seem common place.
I prefer cash and use it as much as I can, In fact after too many times asking my bank have just replace my Contactless card with a normal card.
~Happy days.
I use cash for everything, and on the times when there's no avoiding using a card like online I buy a prepaid debit card then use that to make the purchase online. I don't like the idea of transactions being logged and datamined so avoid using payment methods that can be linked to my name.
You can't use cash for online purchases either (or very rarely). Perhaps the move towards buying things online (or being encouraged or forced to do so) might have something to do with it...
Or are the figures for transactions in person?