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D.C.'s ban on cashless businesses takes effect

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Re: D.C.'s ban on cashless businesses takes effect

#261

Post by EVa5I7bHFq9mnYK »

basisword wrote: post #152
lacker wrote: post #135

I've noticed recently more of the food truck or farmers' market type businesses aren't officially cashless, which is illegal in California AFAIU. They just don't have change for a $20. It's a real problem that some people cannot afford the fees on a bank account, but I would prefer that we find some way to provide everyone with minimum banking services. Like a no-fee government-provided debit card. I know, the govern…

>> It's a real problem that some people cannot afford the fees on a bank account, but I would prefer that we find some way to provide everyone with minimum banking services. Like a no-fee government-provided debit card. The government shouldn’t even need to get involved here. In the UK accounts have no standard charge and come with free debit card. There’s no reason banks in the US can’t offer this other than the fac…

There are thousands of such establishments in the US. They are called credit unions. And many banks too. Yes, I have a US Revolut account, but not for that reason, but because US banks generally don't know how to send money internationally. For them, civilization ends at the US border :)

Re: D.C.'s ban on cashless businesses takes effect

#262

Post by marklubi »

jdietrich wrote: post #256
marklubi wrote: post #253

Earlier quoted context omitted.

Can you provide a citation on that one? I've never heard of such an absurd issue. The closest I can think of is when a bank tried to charge my son for using their coin counting machine because he didn't have an account there (he's a minor, but I had an account).

Many business accounts have a monthly allowance of free cash deposits, but the standard fee is 30¢ per $100. https://www.bankofamerica.com/salesservices/smallbusiness/re... https://www08.wellsfargomedia.com/assets/pdf/small-business/...

Thanks for the details.

While I think it's ridiculous, a 0.3% fee for over $20k in deposited cash per month doesn't sound unreasonable for handling risk.

Personally, I wouldn't be banking with either of those companies because I think they just exist as parasites. Find a good credit union.

Re: D.C.'s ban on cashless businesses takes effect

#263

Post by blackshaw »

fragmede wrote: post #3

Interesting. I get why you'd want to ban cashless business, but many business in a nearby town with a high crime rate are going cashless because you can't rob a Square reader quite as easily as a cash register.

That sounds like treating the symptom rather than the problem...

Re: D.C.'s ban on cashless businesses takes effect

#264

Post by tbrownaw »

maximilianroos wrote: post #103
dwallin wrote: post #101

Earlier quoted context omitted.

Ideally you decide by voting. It’s either that or you decide things by who has the most money / power / guns.

Right — we could decide whether each transaction should take place by voting on it. But that would be really inefficient! So instead, we generally let people trade with each other as long as it doesn't intrude on others. Not sure whether Sweetgreen choosing to go cashless is an example of "decide things by who has the most money / power / guns."?

> we could decide whether each transaction should take place by voting on it. But that would be really inefficient!

I think that "everyone else votes on whether I get to buy lunch" had more issues than just being inefficient.

Re: D.C.'s ban on cashless businesses takes effect

#265

Post by Hnrobert42 »

jdietrich wrote: post #254
nonrandomstring wrote: post #162

Almost every comment is about politics, choice, privacy, rights, markets and percentages. There's a completely different take; Civic resilience From an operational and strategic security POV, cash is a vastly superior technology. It doesn't need electricity, a network of cables, satellites and routers. Therefore cash in circulation acts as a buffer that provides economic stability and continuity of operations. Also,…

>From an operational and strategic security POV, cash is a vastly superior technology. It doesn't need electricity, a network of cables, satellites and routers. If the power goes out, I can't get any cash. I don't keep any meaningful amount cash on hand and neither does anyone I know, including my elderly relatives. Most of the stores I shop at won't actually be able to sell me anything, because none of the products…

In that case, it might be wise for you to withdraw some cash now (depending on your financial situation). I keep a couple hundred in crisp bills of varying denominations in a go bag.

Re: D.C.'s ban on cashless businesses takes effect

#267

Post by tim333 »

didntcheck wrote: post #179
kxrm wrote: post #19

I live in DC and support this law not just from an accessibility standpoint but also from a privacy standpoint. I am tired of every retail/restaurant establishment building a profile of me.

The new "meta" seems to be charging you a tax for not using their loyalty card. Items at Tesco are now significantly more expensive if you don't scan a Clubcard. I suppose it is easier to rotate those than bank cards though

I've got three 'cards' for Waitrose as you can get one coffee per card per day and I wanted a few one time. I put the cards in quotes as they are actually images of bar codes on the phone.

Re: D.C.'s ban on cashless businesses takes effect

#268

Post by blackshaw »

Ferret7446 wrote: post #94
noduerme wrote: post #35

Earlier quoted context omitted.

Businesses have a legal obligation to not discriminate against lots of recognized classes. Those without credit cards should be protected as well, because living in this country should not require you to participate in a debt-based system. If it did, it would be government of banks, not a democracy. Forcing people to have a bank account or a credit card to buy food enforces a monopoly on money.

There is no "forcing". If there is sufficient demand for paying with cash, then someone will start a business that accepts cash and charges more, thus making more profit. More people will start such businesses, driving down the price until the price accurately affects the additional risk plus market demand. If no such business exists, it is because the cost of the risk/hassle of dealing in cash is too high compared t…

Okay, then let's not force businesses to make their buildings wheelchair-accessible either, because most customers can walk. If some customers can't shop there anymore then the market will take care of that problem too, right?

Re: D.C.'s ban on cashless businesses takes effect

#269

Post by blackshaw »

hardware2win wrote: post #220
Ferret7446 wrote: post #94

Earlier quoted context omitted.

There is no "forcing". If there is sufficient demand for paying with cash, then someone will start a business that accepts cash and charges more, thus making more profit. More people will start such businesses, driving down the price until the price accurately affects the additional risk plus market demand. If no such business exists, it is because the cost of the risk/hassle of dealing in cash is too high compared t…

>then someone will start a business I hate this argument that "someone will start business" No. If people will struggle with getting food then they will adjust and get cards despite not liking it. Nobody will open business for them. For me this is some kind of free markets naivety

“The law, in its majestic equality, forbids rich and poor alike to sleep under bridges, to beg in the streets, and to steal their bread.” - Anatole France

Re: D.C.'s ban on cashless businesses takes effect

#270

Post by blackshaw »

bagels wrote: post #134
seanmcdirmid wrote: post #54

Earlier quoted context omitted.

If the perp needs fent and Shake Shack has cash that can be used to purchase fent, the robbery is a product of need.

Nobody needs fentanyl.

You do understand what the word "addiction" means, right?
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