How can you have a cashless society if I have to enter the pin every time I use my card? During my last trip to Stockholm using cards was more of a hassle than using cash. London/UK is more of cashless society than Stockholm/Sweden.
Swedes rebelling against a cashless society (2018)
131–140 of 338 posts
Re: Swedes rebelling against a cashless society (2018)
#132Earlier quoted context omitted.
How are the KYC requirements handled in Germany? What sort of documentation do you need to open a bank account?
You should not need more than an ID and the certificate of registration from your municipality. Some online banks outsource this process to the Post: https://www.deutschepost.de/en/p/postident.html I'm not sure how N26 does it these days, at the time it was over videochat. I believe it's just a picture of your ID and a selfie now?
I opened an account this week and it was a videochat (they call it IDNow).
However, while you need a German address, no registration is necessary (which I'm only having done on Monday). I didn't even have any German phone number yet at that point.
Re: Swedes rebelling against a cashless society (2018)
#133I'm Swedish and this stuff makes me really worried. Especially since the main way for two people to exchange small amounts of money is through a proprietary app that uses a proprietary ID system (owned by a for-profit company) that only runs on iOS, Android, Windows and Mac. I really hope this trend dies off, a cash-less society is a terrible idea. I will say, however, that buses not taking cash is perfectly fine. Th…
> buses not taking cash is perfectly fine I guess, if you are ok with leaving an electronic trail whereever you go...
The tickets have no way of identifying you unless you register on their website. You could always just get rid of your card and get a new one when you want to.
Re: Swedes rebelling against a cashless society (2018)
#134I'm Swedish and this stuff makes me really worried. Especially since the main way for two people to exchange small amounts of money is through a proprietary app that uses a proprietary ID system (owned by a for-profit company) that only runs on iOS, Android, Windows and Mac. I really hope this trend dies off, a cash-less society is a terrible idea. I will say, however, that buses not taking cash is perfectly fine. Th…
You will always have vendor neutral payments with bank transactions, which are EU wide and regulated with SEPA. Don't know about Sweden, but in the Netherlands that's widely supported and free for consumers. What's the harm in people using a proprietary app on top of that that has slightly more convenience?
Because it's become a standard that almost everyone is expected to use.
Re: Swedes rebelling against a cashless society (2018)
#135Earlier quoted context omitted.
There are newer solutions like iZettle for cards that costs less. In Sweden we also have Swish, payment by smartphone without cards, but that is also a bit harder for older people.
I've encountered one merchant in Denmark using iZettle. He has since replaced it with the regular PoS. I can only imagine that is more expensive for him, but I wonder why he abandoned iZettle? Maybe it doesn't work that well? I am honestly wondering why I don't see more usage of iZettle. It could just be a Danish thing. And yes, there is Swish/MobilePay, but that only really works if you're local. A tourist - even on…
Like another poster said -- cost per transaction is higher. iZettle charges around a magnitude higher transaction fees compared to the regular PoS, so for a non-trivial amount of transactions it becomes more expensive regardless of the lack of monthly fees.
Re: Swedes rebelling against a cashless society (2018)
#136Earlier quoted context omitted.
So how do poor people function in a cashless society?
A bank account is a right for every EU citizen: https://europa.eu/youreurope/citizens/consumers/financial-pr... Banks are not allowed to refuse account opening to any resident.
But they can refuse to take your cash and point to the regulations against money laundering.
Re: Swedes rebelling against a cashless society (2018)
#137Earlier quoted context omitted.
This doesn't appear to be an issue in Sweden though, most people don't even carry cash on them.
It is not unusual with hours or even days out outages on individual banks card services and the shared "swisch" mobile payments. In times of unrest, "grey zone" conflict scenarios, cyberattacks....well you should have something to barter with. For example, on Valentine's day a few million people couldn't pay electronically. That probably translated into a few million lost revenues for flower shops but I have no numbe…
Then Klarna to the rescue :)
Re: Swedes rebelling against a cashless society (2018)
#138I recently moved back to Sweden after living 4 years in Germany. I don't have any cards, and I don't carry a "smart"phone anymore; in Germany this didn't cause any trouble at all and I was far from alone. Much of the current Swedish society is currently closed to me, I know of three shops and one cafe in the (200k people) city center that accept cash. Some of it has been gradual but it changed dramatically during the…
> It's all very convenient until the crap hits the fan
I have difficulties imagining the crap hitting fan that simultaneously breaks down electronic payment systems but rather miraculously keeps the purchasing power of paper money intact for any extended time. Could you maybe elaborate why you consider this specific scenario likely enough to worry about?
Re: Swedes rebelling against a cashless society (2018)
#139Earlier quoted context omitted.
I pay more often with cash today than some years ago, as a statement. Interestingly, if you talk about cash in Sweden the comments you will get tend to be very hostile. It's like talking about meat in a vegan community.
https://en.wikipedia.org/wiki/Law_of_Jante
Makes me wonder how Nordic people behave anonymously, e.g. on online forums.
Re: Swedes rebelling against a cashless society (2018)
#140How can you have a cashless society if I have to enter the pin every time I use my card? During my last trip to Stockholm using cards was more of a hassle than using cash. London/UK is more of cashless society than Stockholm/Sweden.
Only for transactions over 200 SEK really if you pay contactless. Also, there's always a trade off between security and usability, so I'm happy to enter my PIN.