491–498 of 498 posts
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Cash only restaurants are often 10-20 percent cheaper than comparable restaurants.
My barber only takes cash. $18 for a standard haircut.
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There are now systems that are far cheaper than credit cards or debit cards. In the US it's called: FedNow. The system enables direct bank transfers in real-time, almost for free. https://en.wikipedia.org/wiki/FedNow The support is still very limited, but in India a similar system (UPI) managed to become ubiquitous.
With Visa/Mastercard... debit and credit cards you get some purchase protection. With those direct bank transfer systems you don't. Have you never done a chargeback on a credit card? With Fednow, UPI etc you can't.
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The lack of fast free digital money transfer infrastructure in the U.S. is something that seems crazy to anyone in the EU. Every EU country (and the UK) has had fast free digital bank transfers for decades now. Here in the UK we pay all “casual” services like cleaners, dog walkers etc via a simple, quick bank transfer. It’s great, I don’t need to keep cash, and person providing the services has the money in their acc…
We have free digital money transfer in the United States. Venmo, Zelle, PayPal, Cash App, etc. I don't know why you'd believe otherwise.
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I'd rather loose 10 bucks than letting them take my debit card. PIN is not required until a certain amount.
You buy $10 of groceries at a time?
If I have to buy larger amount of groceries, then I wait until daylight. No way I’m carrying more money when it’s dark outside.
Not using cash means someone gets a cut of a processing fee. Every time, with almost no exceptions. I’m not down to have rent seeking companies taking a slice of my hard earned money just so I don’t have to manage a few pieces of paper. You’re generally paying 3-4 percent of every transaction now, as that’s pretty standard for debit cards on businesses, and it doesn’t matter if it’s charged to the card holder or the…
But you know, our governments are fucking useless, so that ain't happening anytime soon.
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Governments should be running their own digital counterparts to cash, but they need to add the anonymity of this cash into the constitution. Otherwise the security apparatus is going to ruin it for everyone.
... because the security apparatus is definitely held in check by the Constitution?
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I’m not. Visa and Mastercard collected $138 billion in service fees in 2021. They are among the most profitable companies in the world. You’re pretending that cash handling is a binary. You need a blend. For example, after extensive testing we are not going to send wire transfers exclusively in gold bricks. Though the loss weighs heavy on me. But you should be very careful in eliminating cash. I assume cash handling…
The fact that you immediately assume that something doesn't exist because you don't encounter it is insanely presumptuous of you. The entire reason why small businesses moved away from cash is because its cheaper even taking into account fees. Food trucks, popups, small merchant kiosks. Not needing to take cash means far less overhead. You're more than welcome to argue the benefits of cash transactions and in most ca…
From what they tell me, that's because: - they get 100% of the money (no tax) - it grants them the right to cheat with tax declaration (which is always good) - it can be quicker and easier than credit card (I'm think of those guys who sells stuff for 5€, for instance)
I believe medium/large businesses loves credit cards, because the people doing the payment are low-waged, untrusted people, who cannot do maths etc (or whatever the reasons managements got in their head) But small businesses ? When you give money to the owner of said business ? They have credit cards because the consumers use them, but they hate them