In Sweden, cash is king no more
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In Sweden, cash is king no more
1–10 of 86 posts
Re: In Sweden, cash is king no more
#2Not necessarily a good thing. No cash means no privacy.
Re: In Sweden, cash is king no more
#3As a Swede I am used to always being able to pay with my card; Heading to the bar? No need to withdraw cash. Grabbing a taxi home late at night? No need to worry if you have enough cash, they accept cards.
To add to this is that electronic transfer of money to both businesses and private citizens is quick and easy. If you transfer within the same bank it is instant and takes up to a day, depending on the hour, to transfer between banks.
Re: In Sweden, cash is king no more
#4"If there were no cash, what would they do?" says Ulvaeus, 66.
Well, he's in for a surprise ...
Re: In Sweden, cash is king no more
#5Not necessarily a good thing. No cash means no privacy.
Agree. I never understand these dichotomies people set up. Why can't we just have both? The US system is a good balance, at least at the moment- you have an option to do either, with cards widely accepted except for a few ma and pa bars and restaurants.
Re: In Sweden, cash is king no more
#6As a Swede I am used to always being able to pay with my card; Heading to the bar? No need to withdraw cash. Grabbing a taxi home late at night? No need to worry if you have enough cash, they accept cards. To add to this is that electronic transfer of money to both businesses and private citizens is quick and easy. If you transfer within the same bank it is instant and takes up to a day, depending on the hour, to tra…
As a Swede, I always bring cash. Heading to the bar? Already have cash in the wallet. Grabbing a taxi home late at night? No need to worry that I don't have enough cash on me.
Store temporarily only accept cash due to some error? Replace panic with nonexistent queue.
Regardless of whether you always pay cash or always pay with a card and regardless of whether you value privacy or not - you should always, in my opnion, have some cash with you. That has served me well and I've never in my life regretted having too much cash on me. The day I get robbed the cash I have on me is the least of my worries, if anything having an empty wallet might be provoking to someone that just tried to rob you (or a lot of money might get him (or her) greedy and ask for more, you never know).
Note to self: Get rid of (and remember) the CCV code on the card and destroy the magnet stripe on my card. Anything not working with the chip isn't worth the hassle nor worth the trust of using a card (that might sound strange for some but in Sweden the use of the magnet stripe is quite rare).
Re: In Sweden, cash is king no more
#7My 2 cents as a Swede:
Lots of small businesses here in Stockholm refuse to accept cards under 50 kr ($8-9) because of the high fees mentioned in the article. Also if you're out at club, you get faster service if you just use cash. At various semi-official student parties "Cash is king!" is often mentioned in the invitation.
Not to mention loyalty to small businesses (knowing how much it costs for them), privacy concerns and plain old style / swiftness.
Re: In Sweden, cash is king no more
#8As a Swede I am used to always being able to pay with my card; Heading to the bar? No need to withdraw cash. Grabbing a taxi home late at night? No need to worry if you have enough cash, they accept cards. To add to this is that electronic transfer of money to both businesses and private citizens is quick and easy. If you transfer within the same bank it is instant and takes up to a day, depending on the hour, to tra…
MM so your the annoying person who isn't organized enough to bring cash and causes long queues at the bar or coffee shop when I am buying my morning coffee and paper at the train station.
The more you use your card the more chance of getting skimmed using cash for small purchases is a way of reducing your attack surface.
Re: In Sweden, cash is king no more
#9As a Swede I am used to always being able to pay with my card; Heading to the bar? No need to withdraw cash. Grabbing a taxi home late at night? No need to worry if you have enough cash, they accept cards. To add to this is that electronic transfer of money to both businesses and private citizens is quick and easy. If you transfer within the same bank it is instant and takes up to a day, depending on the hour, to tra…
As a Swede, I always bring cash. Heading to the bar? Already have cash in the wallet. Grabbing a taxi home late at night? No need to worry that I don't have enough cash on me. Store temporarily only accept cash due to some error? Replace panic with nonexistent queue. Regardless of whether you always pay cash or always pay with a card and regardless of whether you value privacy or not - you should always, in my opnion…
As a swede I never have cash on me anymore. But when I lived in Tokyo, the situation was reversed: low crime levels, high prices and nowhere to use a card, all contributed to me walking around with on average about $500 on any given day. That was a decade ago, though.
Re: In Sweden, cash is king no more
#10As a Swede I am used to always being able to pay with my card; Heading to the bar? No need to withdraw cash. Grabbing a taxi home late at night? No need to worry if you have enough cash, they accept cards. To add to this is that electronic transfer of money to both businesses and private citizens is quick and easy. If you transfer within the same bank it is instant and takes up to a day, depending on the hour, to tra…
As a Swede, I always bring cash. Heading to the bar? Already have cash in the wallet. Grabbing a taxi home late at night? No need to worry that I don't have enough cash on me. Store temporarily only accept cash due to some error? Replace panic with nonexistent queue. Regardless of whether you always pay cash or always pay with a card and regardless of whether you value privacy or not - you should always, in my opnion…
While you have a point about carrying cash I just have an irrational dislike towards change. The damn coins are heavy, close to worthless much of the time and overall annoying.
And I have barely ever encountered a situation where the card machine is broken,at least not in recent years but it can of course happen.
'Removing' the CCV and magnetic stripe is actually a good idea - Wouldn't trust most (Swedish) places that don't use the chip to read the card data.