going cashless

[Smallsteps]

really depend on the merchant for every card transaction the card company takes a fee.
Of course the card giants want this to be the normal but it also lead to higher prices so vendors can recoup the transaction fee.
Many here can manage paying with card and paying off card but the majority of people spend more using a card and simply think about it tomorrow.

[Keshet]

I rarely use cash anymore. Debit card is so much easier. Checks? Maybe 3 or 4 a year.

[disneysteve]

really depend on the merchant for every card transaction the card company takes a fee.
Of course the card giants want this to be the normal but it also lead to higher prices so vendors can recoup the transaction fee.

I think merchant fees are already priced into everything since the vast majority of transactions are already electronic. And as some of the companies that have gone cashless have said, there's a cost to accepting cash also. There is labor involved in counting the cash, doing reports, making bank deposits, etc. There is a theft risk, both from burglars and from employees. And there is innocent loss from cashiers miscounting change accidentally.

My wife used to manage a retail store. She often told stories of having to get all of the cashier's drawers ready when they started their shifts and count them out when they ended their shifts. And reconciling things when the numbers didn't add up. It took a fair bit of time each day.

[bjl584]

That's just the advancement of society. Everything is going digital.

I personally always have a few hundred dollars on me these days. cause you never know when you might need it.

[LivingAlmostLarge]

I use a lot of checks for kids stuff. Something you'd think would change but no the school stuff are please send check to PTSA or school for field trip. Paying the piano teacher? Check. Small business owners tend to not take CC.

[disneysteve]

I use a lot of checks for kids stuff. Something you'd think would change but no the school stuff are please send check to PTSA or school for field trip. Paying the piano teacher? Check. Small business owners tend to not take CC.

There are still a number of places that either don't take credit at all or charge for doing so. Schools and kid activities for sure, though we're past that age. Our synagogue charges for credit card use so we write checks for everything there. Also some municipal stuff like sewer tax. I think you can go in person and pay cash but otherwise it's check.

[disneysteve]

I have a relative who lives in south Florida. He's told us that there has been a lot of trouble in that area with credit card skimmers at gas stations so he has switched to cash for gas purchases. I can see where that could be a problem since the card swipers are out in the open. It's probably the easiest place for a crook to gain access to a credit card machine. I know ATMs have a similar problem but at least those have surveillance cameras. I don't think gas pumps do. Also the gas pumps around here at least are still using the swipe, not the chip, which is less secure.

[disneysteve]

I was watching Tv and saw on a news program the Tampa Bay Rays stadium will be now cashless.

So I looked this up and it's not 100% true. You will still be able to use cash but only to purchase gift cards which can then be used to buy everything else like tickets, food, souvenirs, etc. So it's kind of similar to going to an arcade where all of the games only take tokens or a stored value card but you can buy the tokens/cards with cash.

So if you're going to a Rays game, or any other event at that stadium, you'll still be able to spend cash. You'll just have to make one extra step in the process.

[Gailete]

My 35-year-old son still doesn't have a credit card. He does have a debit card which he uses. He is always aware of exactly how much money he has in his account and spends accordingly. Currently, he has picked up a part-time job doing grocery picking, packing, and delivery. Because this is SB weekend, he told me he is getting $1 extra per delivery. I think over the course of last week he made over $200. He is saving it and using it to pay off his car loan and then he will be debt free. Very proud of him. He has managed to get his fiscal life in order without the need for credit cards. He uses cash and when he ends up with enough spare coins he rolls them and deposits them into his bank account.

[LivingAlmostLarge]

probably because also even without a CC many people have debit cards. Dave Ramsey says it's okay to use a Debit card I think.

[rob62521]

This makes me kind of sad, because it will make life harder or less enjoyable for people who, for whatever reason, either shouldn't or can't use anything but cash. .

What a great point! There are some folks who cannot handle credit or even debit cards.

[disneysteve]

Philadelphia just passed a law banning cashless stores. It goes into effect July 1. They argued that going cashless discriminates against the poor who are often "unbanked". There are a few carve outs in the law for things like parking lots, wholesale clubs, and rental companies.

https://www.philly.com/business/philadelphia-cashless-store-ban-jim-kenney-amazon-20190228.html