I suspect the main reason is that in a safe country like Germany people feel more comfortable carrying around large amounts of cash. Japan is extraordinarily cash-oriented, but it works because people don't get mugged; even if you leave your wallet on a train you can expect to get it back with all the cash still inside.
Why Germans pay cash for almost everything
141–150 of 497 posts
Re: Why Germans pay cash for almost everything
#142The "memory of hyperinflation" theory is an obvious crock, because the prediction is 100% backwards-ass wrong. If you thought hyperinflation in the near future was at all likely, you'd want to buy everything on credit.
Re: Why Germans pay cash for almost everything
#143Re: Why Germans pay cash for almost everything
#144Earlier quoted context omitted.
As a German a.) I mostly pay cash because it's faster b.) some shops that can afford it only have cash payments to save on CC costs Not because of inflation or because something happend 100y ago.
As a German a) I don't want to feed the Visa/Mastercard/Amex/Whatever leach earning a few cents of every transaction.
In 4 party schemes, most of the transaction fees don't actually go to Visa/MC.
Re: Why Germans pay cash for almost everything
#145I thought it was the other way around - that the reason German people pay cash is simply because shops and bars refuse to support credit cards. Whenever I visit Berlin I'm so frustrated because I have to plan my spending ahead and make sure I have enough cash in my pocket before I go buy anything.
Absolutely, I too think it's a matter of supply. So often shops refuse to take cards to avoid the fees. I suspect a systematic or law issue making card transactions more expensive.
Re: Why Germans pay cash for almost everything
#146accordording to this, it seems germans are really near to the europe average. http://en.finance.sia-partners.com/cash-here-stay-question-h...
Re: Why Germans pay cash for almost everything
#147Earlier quoted context omitted.
When paying with cash you are also only exposed to the risk of loosing what you have on hand. A debit card is a bit more akin to handing over the key to the vault with a contractual agreement as to how much can be taken.
If you think that is a problem with debit cards you should go get a better bank.
Are there banks that provide credit card-like protections for debit cards? I thought you couldn't reverse debit card transactions. There are usually daily limits, though, which would limit how much you could lose.
Re: Why Germans pay cash for almost everything
#148Earlier quoted context omitted.
As an american, I find it strange that cash is faster. Most people who pay cash need to wait to get the change back unless they know the total beforehand and happen to have exact change. In the US, credit card machines are very fast even the chip enabled ones. Cash workflow: - Cashier tells you the total amount - You look in your wallet/purse - You spend time counting exact change if you do have it - If not, you take…
> Credit card workflow: > - Cashier tells you the total amount > - You look in your wallet/purse > - You swipe card/insert in chip reader > - Done You forgot the part where you have to enter you PIN and wait for the transaction to go through, or sign the receipt.
Another difference between American and other systems. Credit cards in US don't have PIN numbers. Only Debit cards have PIN.
Re: Why Germans pay cash for almost everything
#149According to https://www.cashforless.de/ec_cash_info/Fakten_zur_Kartenzah... methods for payments in stores 2011 was 57% cash, 5.3% credit card, 33% debit card ( https://en.wikipedia.org/wiki/Electronic_cash ). > "of course, [the Germans] attitudes toward currency must owe something to Germany’s tumultuous monetary history. During the Weimar-era hyperinflation that peaked in 1923 [...]" > "the German tendency to sett…
We had hyperinflation in Brazil (end of 80s and begin of 90s) and you can use credit/debit card almost everywhere (I even saw a video of a Brazilian that lived in Japan for 10 years commenting how weird this is for him)
Re: Why Germans pay cash for almost everything
#150Earlier quoted context omitted.
As a German a) I don't want to feed the Visa/Mastercard/Amex/Whatever leach earning a few cents of every transaction.
Not German, but I simply don't want to leave my trail of what I am spending and where.
Was waiting for this comment. I often ask myself, "Do I want any entity to have a copy of the exact dates and amounts of my entire daily consumer activity?". Whether anonymized or not there is a tremendous amount of knowledge that can be gleaned from non-itemized debit card ledgers.