Paying with Cash…. Why is it better!?

[dutchcock29]

In my case, I need to get rid of 6 dollar coins (uncomfortable to carry in pockets)so I opted to pay with cash that day .
BTW the food total was only $16.35.

 

[Normscot]

which is why it easier to steal $1from 10,000 people than $10,000 from one person.

Steal?

 

[downbound123]

Steal?

steal/take.... semantics

 

[Normscot]

steal/take.... semantics

Oh sure like charge/invoice

 

[Darts]

Clarification: Not everybody who pays cash is on welfare.

There are also pre-loaded VISA and Mastercards. Got a few as gifts over the years.
Prepaid Cards | Visa

 

[NotADcotor]

- 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 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.

But that 1.50 is also used to pay the laundry, or perhaps to go out to dinner, or buy weapons to fight the evil that is Justin Beiber.

Rather bad economic analysis by the person the OP is quoted.

Not as bad as the broken glass fallacy but still in a similar direction.

And before some economic illiterate screams, but local brah. Yeah because Autocracy is a great idea he said sarcastically, go back to Best Korea with that Juche bullshit... but take me with you and introduce me to Lil Kim's sister.

 

[NotADcotor]

It just amazes me they devised a card system where all the money goes back to the banks in transaction fees.

Fucking banks are evil.

I don't think all means what you think it means

Yeah how dare those banks charge for providing a service.

 

[Brill]

True. That was why I asked the cashier why some people still pay with cash.

For example, I think people on welfare don't qualify for a CC. Can anyone here confirm?

People on welfare or other social benefits would have a bank account, therefore qualify for a debit card. Most don’t need a credit card but likely qualify for one because they have a steady flow of income coming in.

I usually talk about the weather with cashiers but now I might ask their opinion about self checkout stores.

 

[shack]

"I asked a cashier why some people still pay cash? She said usually because they don't qualify for a credit card."

Yes, I did ask a cashier why some people pay with cash and the answer was usually because they don't qualify for a CC. Of course, cash seems like a reasonable alternative if one doesn't qualify for a CC. It was a simple question and a simple answer and is not high finance. Anybody with some intelligence would know that.

Then why did you have to ask, if everything is so simple? You are intelligent, aren't you?

 

[shack]

Clarification: Not everybody who pays cash is on welfare.

There are also pre-loaded VISA and Mastercards. Got a few as gifts over the years.

LOL and LOL. I've already said too much today.

 

[Ref]

So in Ontario if you own a personal automobile you no longer have to pay the annual registration fee. A good thing for you of course. But not just for you. The government was spending more money paying to administer the license plate renewal program than it was taking in. They did make it sound like it was all about you though. But in reality what is happening is that the money you saved on renewing your plate gets spent by you somewhere on something right? And guess who taxes that spending a gets a piece of it? Ya you know who. So what’s the end result? The government just cut its expenses while making more money at the same time. And again it cost them nothing. Genius!!! Fuck these guys are good at what they do! And what is it that they are so good at? The snow job. Yanking your chain and pulling you around to wherever they want you to go. I’d have been a politician but my morals wouldn’t allow me to pursue the field in good conscience.

Best to all

Great summary.

Unfortunately there are many people on this board who do not understand the above concept about the licensing fees. They equate it with the government has lost all that revenue that could otherwise have been available to help the less fortunate (right...).

Also, it would not come as a surprise to anyone that there are numerous situations similar to the licensing fee scenario.

 

[Darts]

I usually talk about the weather with cashiers but now I might ask their opinion about self checkout stores.

Also, ask them about people who pay cash as they (customers) fumble for that last quarter.

 

[The Oracle]

I'm trying to remember the last time I paid with a card.........

On-line purchases I guess.

I've negotiated some substantial savings lately with purchases I've made.

I've noticed some cashiers get confused at counting out change,lol. Sign of the times I reckon.

 

[tastingyou]

Great summary.

Unfortunately there are many people on this board who do not understand the above concept about the licensing fees. They equate it with the government has lost all that revenue that could otherwise have been available to help the less fortunate (right...).

Also, it would not come as a surprise to anyone that there are numerous situations similar to the licensing fee scenario.

g

I consider the government / bureaucracy to be hugely incompetent and inefficient. Usually eventually they get the situation fixed but only in the 2nd or 3rd attempt and only after they are 100% [ minimum ] over budget. Just because we are not paying for license renewal does not mean that we do not have to renew. They are so inefficient that they will lose almost as much administering that .

 

[bazokajoe]

I'm trying to remember the last time I paid with a card.........

On-line purchases I guess.

I've negotiated some substantial savings lately with purchases I've made.

I've noticed some cashiers get confused at counting out change,lol. Sign of the times I reckon.

I was at a Rona store 1 day and paid with cash. The young kid had to count it twice and told me I was short. I had to count it out for him.

 

[Eagleeyes]

When Rogers had that outage a few months ago, I'm glad I had cash on hand to pay for gas and food when the point of sale machines weren't working.

 

[IM469]

Cash does not leave an audit trail for her divorce lawyer to follow.

 

[anon1]

Old school guy once told me "Plastic is for Barbies."

 

[Jenesis]

I have to admit - I use my cards for everything and take pride in the fact that I don’t pay fees or interests and use these cards to make money. There are a few cards with no annual fees. And for my bank, leave more cash in and they waive your monthly fees. I get free auto club and safety despots box and I get roughly $500+ a year in cash back plus other rewards.

For example; I use CC for all my hotel bookings and pay them off before the monthly due date. With the amount of hotels I use; that cash back comes out to a lot. My CC is from my bank and because I keep a balance of $5000 or more in the account, I don’t pay fees. And the card was a promo from the bank so because I have the bank account with a running high balance, I also don’t pay CC annual fees.

Costco card for gas. Cash back owned on that right now is $100 and this was a new card(transferred from capital one to CIBC) from March or May. Can’t remember. But not even a full year.

Walmart rewards for Walmart. just got my dad a Walmart MC for shopping because he does their online groceries. He will reward points to buy stuff in the future. All he does is buy on the card and then pay it right away.

I use my bank card and get screen points. Just had to two few movie tickets.

Pay for a vacation and get extra protection like travel insurance for free.

Charge back protection for online shopping and fraud protection if someone steals your card. Which is a pain but easy enough to show innocence usually

So if you use credit properly, it can work for you.

Now if stores start charging for using a CC, I will probably stop and go back to cash or debit but for now - I love my CCs and all the rewards I get from them

Also for service stuff I pay cash. Like my mechanic or something. Unless it is like CT for tires then it is the CT card but my regular mechanic - it is cash.

True. That was why I asked the cashier why some people still pay with cash.

For example, I think people on welfare don't qualify for a CC. Can anyone here confirm?

Anyone can get a card. It is easier to get a CC from a store like Walmart. Capital one will give anyone a card basically with a starting balance of $500. Capital one plans made so you can use them to build your credit.

 

[Malibuk]

I get 10% off my Chinese food paying cash plus I pay cash at small businesses so they can just stick it in their pocket.