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Cash machines withdrawal?
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Bantamzen
Established Member
The canteen at my office in Leeds only accepts cash at lunchtime now, the rest of the day you have to use a card. And down the road at a local bar they only accept cash for transactions under £5. And then there are the buses actively encouraging passengers to use contactless....
Edit: Plus there are increasing numbers of TVMs that don't accept cash (how could I forget!)
Shops not taking cash is loony. Particularly for small purchases.
Peter Mugridge
Veteran Member
They're not the only one refusing to issue a receipt for contactless...
I use a debit card, not a credit card - and I don't do online banking. I am registered for it, but I only did that because I needed to have immediate access to confirm a PayPal four digit code while setting up a business PayPal account recently.
I still get monthly postal bank statements; indeed these are much more logically laid out and much clearer to read than the online version. The online version is appallingly poorly laid out and amongst other issues has all the debits and credits in a single column - but I think that may be a matter for a separate thread!
Talking of the topic - I have never used a cash machine in my life; I still take money out of the bank the old fashioned way by means of a cheque to "self" over the counter.
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Not really as it cuts down on a lot of their costs as cash handling is very expensive indeed and much much higher risk for them. For bigger stores the use of cash is also very expensive as G4S and other cash couriers are not cheap either
My mum used to work in a staff restaurant that was cashless; everyone using it used their ID card (with magstripe) as an electronic purse. Obviously this could only be used in this one establishment. However this was 1986, so it’s hardly a new phenomenon.
There’s plenty of places in London and the south east that have gone cashless, and many more that still accept cash but who will automatically offer you the card machine and then be rather surprised if you offer cash. But it’s not just London As I mentioned earlier, my football club (Wolves) has just gone cashless for the bars / food service. It will happen increasingly because (for contactless and debit cards) it’s usually quicker per transaction, more secure (no dipping in the till if there’s nothing in it), and usually cheaper for the vendor - some banks charge around 0.5% plus a fixed fee per deposit to deposit cash if you have a small business account. And it also means you don’t have to go to the bank every couple of days.
I completely understand that some people prefer to use cash, however I think it will be only another few years before cash represents less than 10% of all consumer retail transactions.
underbank
Established Member
Small shops can bank cash free of charge dependent upon the bank they use (some banks allow cash to be freely paid into Post office branches). My largest "small shop" client has a turnover of half a million, roughly 50:50 between cash and cheque and the costs of card processing are far higher than for cash handling.
If they have a cash machine in store, they can simply put their cash takings into the machine so no bank charges doing it that way either.
That is so archaic! Do you also light your house with candles and listen to the Home Service on the wireless?
That ‘dependent on the bank they use” is the key point. The big 6 (Lloyds, Barclays, HSBC, Nat West / RBS, Santander, Yorkshire/Clydesdale) all charge between 0.6% and 1% value of cash deposited. You can of course get deals for free banking, but this is time limited, and usually only for start ups or for some banks, switchers. Santander lets you deposit cash up to £1000/month free, but after that it charges. You can raise this limit by paying a higher monthly fee.
Credit card transactions obviously have a higher charge for the vendor, but debit cards win hands down bs cash.
That is so archaic! Do you also light your house with candles and listen to the Home Service on the wireless?
My dad still takes the bank book once a week to withdraw, he's never had a card in his life. He is 87 though, I cannot see him changing.
Of course you have missed out that they have to get someone to take it to the bank or post office for them which they either pay for someone like G4S or take it themselves - which is very high risk indeed.
Credit card statements where you download the pdf statements tend to look very like the ones that come through the post.
Debit cards have almost no use in the UK nowadays except for withdrawing cash since credit cards are accepted for virtually every transaction that debit cards are with no additional fee, and debit cards mostly don't have as good rewards as credit cards. The main exceptions are the few occasions where using a credit card would count as a cash advance, for example buying foreign currency and gambling.
krus_aragon
Established Member
That was a "trick" that my father showed me decades ago at the Anglesey Agricultural Show. All the major banks had stalls there, with cashiers and all, but internet connectivity or running ATMs in a field was still years off. No chance of withdrawing cash with your card, but if you had the wits to take your cheque book you were fine.
As little as a decade ago I was doing the same in the centre of Cardiff, to transfer rent money from one account to another. It was the only way to withdraw more than the ATM limit in person from HSBC at the time. I asked for it in £50s, walked over the road, and paid it in to the other bank account (having felt very wealthy for two minutes or so).
Killingworth
Established Member
Try an unmanned station's Northern ticket machine!
I haven't had a credit card in 20yrs. Never needed one and never had a problem with my debit card.
You are losing money, though.
NoMorePacers
Established Member
It's easy to get into debt with a credit card though.
How so ?
Aye the amount of cashback cards and deals for using retailers with said cards are increasing and by not using them you are missing out.. But rewards like that need loyalty and i can understand people bing put off using credit cards because of the prospect of getting into debt - they dont have to of course if they pay it off each month but for some the temptation might be too much
cactustwirly
Established Member
Is it?
Try going to Sweden, where most places only accept card.
If you spend £10,000 a year on a credit card that gives 0.5% cashback, you get £50 cashback. You are unlikely to get that much cashback using a debit card.
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I gave up on drawing cash by cheque when my own branch demanded photo ID (there was a long queue at the cashpoint and I wanted more than the cheque card limit) and didn't accept my office pass. With branch closures I would have a long drive to cash a cheque.
Don't spend any more than you would normally do and pay the full bill automatically by direct debit.
scotrail158713
Established Member
Because as everyone knows the South East is the centre of Great Britain
I think it was clear we were talking about shops/establishments. Otherwise I could have said that I have indeed seen where I cannot pay cash, when buying online from Amazon!
You’d need to spend £100,000 a year on a card with 0.5% cash back to get £500; not even Mrs BR can manage that (despite her best efforts).
However the point is sound, the various reward scheme (cash, points, avios, etc) make using a credit card worthwhile. But as you say, you must pay it off in full every month (unless you have a 0% deal)
Corrected.I think it is more specific that that. It may well be a metropolitan thing; during my journeys through Kent, Sussex and into south east London, I have yet to be turned away with cash. In fact, in the four street markets I visit with varying regularity, they won't accept anything else.
(I've probably read some of the same articles - trendy cocktail bar type establishments with minimal portions of food with a French name and drinks I've never heard of. No thanks!)
Case proven.
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