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Anyone use cash these days?

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Anyone use cash these days?

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Old 04-06-18, 05:42 PM
  #76  
Htony
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Originally Posted by LexsCTJill View Post
Horrible way to live if you have constant worry about credit cards and fraud. Everyone is insured against credit card fraud. Its not even a hassle really, you call up the card company explain the situation and you are then issued a new card, the charges are removed. Another thing people are not aware of, if you purchase something over a certain dollar amount, lets say $500, the credit card insures the buyer against theft or robbery during transit of the item. For example, that new computer one buys for $1000 is insured in case of vehicle break in or robbery whereas paying with cash or debit is not.



I use my cell phone to pay almost 95% of the time in Canada now. Almost everywhere I go. Sadly, when I go home on the weekends, there are very few merchants who have the technology to accept it for the most part.
Because all those cashless transactions eat up part of merchant's profit margins. If you charge something, POS service provider takes ~3% service charge. When you return the item bought another service charge.
I usually charge big item purchases to collect point. I use those points to travel. I always carry some cash as an emergency back up. At banks they even charge for cash handling. Big box outlets like Home Depot
does not like cash transactions. Now if you return an item regardless how you paid for it, they give credit voucher card.
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Old 04-06-18, 06:10 PM
  #77  
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Originally Posted by mmarshall View Post
I can't prove, but strongly suspect, that the reason businesses and organizations won't go to the 0 and 5 system is that, when prices end in 9, .9, or .99, it makes one psychologically think or imagine that it is a discount, when it reality it is not....it is virtually the same as a 0 or 00. That's why gas prices invariably end in a .9
Would not a price ending in .95 seem like at least the deal, if not better, than one ending in .99? Nobody says they have to round up, else they would have done so in the first place.
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Old 04-06-18, 06:12 PM
  #78  
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Originally Posted by mmarshall View Post
As I suggested before, one thing in this whole cash-vs.-credit argument, IMO, that would make sense would be to retire pennies once and for all, and to adjust prices, fees, salaries, and taxes so that everything ended in either 0 or 5. The nickel would be the smallest unit of cash. Having to keep and deal with pennies can be a PITA, especially for cashiers and bank-tellers. Not only that, but millions and billions of pennies use up a fair amount of the country's strategic copper resources...and the rising price of copper, from demand, has led to theft of copper wires, tubes and pipes (just ask any plumber or electrician who's been a victim).

I can't prove, but strongly suspect, that the reason businesses and organizations won't go to the 0 and 5 system is that, when prices end in 9, .9, or .99, it makes one psychologically think or imagine that it is a discount, when it reality it is not....it is virtually the same as a 0 or 00. That's why gas prices invariably end in a .9
Canada already rounds off the transaction for cash. No pennies in Canada. . . Prices are still 5.99 or 5.97 or whatever they want it. For cashless payments Canada does not round off.

Originally Posted by Htony View Post
Because all those cashless transactions eat up part of merchant's profit margins. If you charge something, POS service provider takes ~3% service charge. When you return the item bought another service charge.
I usually charge big item purchases to collect point. I use those points to travel. I always carry some cash as an emergency back up. At banks they even charge for cash handling. Big box outlets like Home Depot
does not like cash transactions. Now if you return an item regardless how you paid for it, they give credit voucher card.
Those credit card fees should all be built into all of the costs. Do I get a 3% discount for buying my iPhone at Apple with cash? No, because it is all figured into the cost. At least, it should be. I didnít know Home Depot does that with their transaction for refunds.

Last edited by LexsCTJill; 04-06-18 at 06:16 PM.
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Old 04-06-18, 06:32 PM
  #79  
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Originally Posted by UDel View Post
They would be stealing from the restaurant, not the customer wouldn't they? .
So letís say that the waiter stole from the restaurant. Would you say the customer is still a victim? I believe the customer is still a victim. Agree or no?
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Old 04-06-18, 06:50 PM
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Originally Posted by LexsCTJill View Post
So letís say that the waiter stole from the restaurant. Would you say the customer is still a victim? I believe the customer is still a victim. Agree or no?
I don't agree. The customer's end of the transaction is complete. What happens subsequent to that is immaterial to the customer. He/she has paid and is whole.

If I give you a nice bottle of wine as a gift, and after you take it away someone knocks it on the floor and it shatters, I have been deprived of nothing. I am not a victim. You on the other hand have been deprived of something (whether intentional or not) and are therefore the victim in that situation.
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Old 04-06-18, 07:08 PM
  #81  
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I like tipping with cash and letting the waiters know that taxation is theft.
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Old 04-07-18, 07:06 AM
  #82  
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Originally Posted by G Star View Post
I like tipping with cash and letting the waiters know that taxation is theft.
I don't know the exact IRS rules on it, but, in general, waiters and employers are supposed to report tip income (or estimated tip income, around 15% of the customer-bills). Servers, in general, are only paid $2-3 an hour (maybe a little more at a ritzy place)...they actually make most of their money in tips. I'm not sure I agree, though, with the idea that, in this case, taxation is theft. You pay your fair share of taxes (or, I assume you do), at least within the law....so do I. I'm not saying there's anything wrong with tipping in cash.....I often do so myself, even if using the credit card for the actual bill, but that's so that the server can get his or her tip right then, without having to wait for it. But, on the other hand, why should servers be allowed to not report income and evade their share of taxes? Sure, people do it...but that doesn't always make it right.
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Old 04-07-18, 11:47 AM
  #83  
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Originally Posted by LexsCTJill View Post


So letís say that the waiter stole from the restaurant. Would you say the customer is still a victim? I believe the customer is still a victim. Agree or no?
No, the restaurant/restaurant owner if the victim. If I am paying the same exact price for something yet the waiter decides to manipulate something so they get a huge tip out of it and the restaurant makes much less money I am not a victim, the restaurant/owner is. If I knew the waiter did that I would tell him not to as I would not want the restaurant/owner to get screwed over especially if I like the place or knew the owner, I would tell the owner too. I may say if you are going to manipulate the price of my bill to where the meals only costs $15 from $90 then the least you could do is tell me and let me tip you on the $15 manipulation over the original $90. What the waiter is doing is definitely wrong but I don't see the customer as being the victim as I am still paying the exact amount as I normally would regardless and the customer will likely never find out if the waiter is doing it with cash. The waiter will be fired and possibly prosecuted if they get caught or possibly the owner will raise prices but they can't raise them too much or else it will just drive people away.
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Old 04-07-18, 02:49 PM
  #84  
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Originally Posted by geko29 View Post
Seems like an awful lot of hassle to go through to avoid a small risk of minor inconvenience. I had 1,228 transactions on my primary CC last year, so call it around 1,600 overall including alternates and my corporate card. This is a typical year--EVERYTHING goes on a card except for maybe a dozen transactions per year. I have had a card compromised exactly three times in the past 20 years. Once was a waiter at a restaurant. Once was the hack of a hotel POS system, where I DID physically observe every transaction and the card was never more than arm's length away. The other was my wife's purse being physically stolen from a gym locker. I would have avoided exactly one of those by following your method, but the loss of the physical theft would have been several hundred dollars instead of about $40. So I would have come out behind.

In all cases, the "consequence" of having the card compromised was having to spend 90 minutes or so updating our auto-deductions. And even that isn't strictly necessary anymore with single-vendor virtual card numbers that are tied to the account rather than the real card number. In exchange for that extra 4.5 hours of work over 2 decades, I:

-Never once visited an ATM to get cash and run the non-zero risk of getting mugged or my card skimmed in the process (haven't even had an ATM/Debit card since 1999)
-Replenished the cash in my wallet at most 3x per year. Most years just once.
-Can easily track 99.99% of my transactions against my budgets, with zero effort
-Never had to accept, re-count, or carry change (all those small bills you're annoyed about)
-Never been short for a purchase
-Earned tons of points/cashback

Just skipping the ATM alone saves more than 4.5 hours every year. I work far too much to waste time with cash.

to you a hassle, to me it's not. I use credit when necessary, but for simple fast transactions like food or fuel, I prefer cash.
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Old 04-07-18, 05:26 PM
  #85  
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Originally Posted by mjeds View Post
to you a hassle, to me it's not. I use credit when necessary, but for simple fast transactions like food or fuel, I prefer cash.
Now you say it's not a hassle, but started your last post with "I find it frustrating as hell...."
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Old 04-08-18, 01:18 PM
  #86  
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Originally Posted by geko29 View Post
Now you say it's not a hassle, but started your last post with "I find it frustrating as hell...."
yes it is frustrating that some places don't accept cash.. but it is not a hassle for me to carry cash.
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