What is it with young people and cash?

[Cotty]

The Moose said:

Cotty said:

The Moose said:

Not at all - I prefer cash and will continue to use cash as frequently as I can. I also pay every penny of tax that I am required to pay.

It’s also quite handy in a disaster scenario - there weren’t many people taking cards after a rather large hurricane came through...

But you are in America. I understand they are quite behind in switching to contactless and card paryments. It might be different in a few years, we have places in the UK that are actually refusing to take cash.

Card payments have been everywhere for a long time. Not chip and pin but swipe. Contactless is now available in most places I go - even gas stations.

What I was getting at is that even though card payment are available, people in America are behind in switching to them. As you yourself have proven.

I think the tipping culture in resturants is a small part of the delay.

[Rod200SX]

28 here and I rarely use cash. Google Pay on my phone does me fine for my regular face-to-face shops. I've always enjoyed having a nice leather wallet and would change to a new one every year or so but last year I changed over to a Ridge card wallet with a money clip. I've had bank notes on it maybe 3 times? And each time I end up giving the cash to my girlfriend to put in to my bank at her work. Hate having shrapnel in my pockets, end up with £1.34 that never gets used for weeks at a time.

Will still get cash where appropriate but no point for 99% of my transactions.

[anonymous-user]

Cotty said:

The Moose said:

Cotty said:

The Moose said:

Not at all - I prefer cash and will continue to use cash as frequently as I can. I also pay every penny of tax that I am required to pay.

It’s also quite handy in a disaster scenario - there weren’t many people taking cards after a rather large hurricane came through...

But you are in America. I understand they are quite behind in switching to contactless and card paryments. It might be different in a few years, we have places in the UK that are actually refusing to take cash.

Card payments have been everywhere for a long time. Not chip and pin but swipe. Contactless is now available in most places I go - even gas stations.

What I was getting at is that even though card payment are available, people in America are behind in switching to them. As you yourself have proven.

I think the tipping culture in resturants is a small part of the delay.

This.

I know the US have contactless payments and suchlike, but compared to places the UK, Canada, Australia etc they are massively behind.

No doubt Covid has forced some modernisation to a degree, but you read articles like these and it shows how far behind the US is with regards to electronic payments and banking:

Nearly 22% of all American households either have no bank account or are 'underbanked':

https://www.forbes.com/advisor/banking/costs-of-be...

At the end of 2018 only 3% of cards used by Americans could do contactless payments, compared to 64% in the UK:

https://www.forbes.com/advisor/banking/banking-aft...

Things will have accelerated now, as the article says, but still hugely behind.

We have taken it for granted for years in the UK. Even something as simple as ordering a drink at a bar for £5 or whatever can be paid by just tapping your card and walking away.

[GetCarter]

Local fetes, charity boxes, honesty boxes (etc) don't take cards. Also tips to waiters def go to waiters if it's cash.

So I keep some for said reasons.

[craigjm]

GetCarter said:

Local fetes, charity boxes, honesty boxes (etc) don't take cards. Also tips to waiters def go to waiters if it's cash.

So I keep some for said reasons.

Won’t be long. The official buskers on the London Underground and a lot of charity collection points now take contactless

[GetCarter]

craigjm said:

GetCarter said:

Local fetes, charity boxes, honesty boxes (etc) don't take cards. Also tips to waiters def go to waiters if it's cash.

So I keep some for said reasons.

Won’t be long. The official buskers on the London Underground and a lot of charity collection points now take contactless

London is a L O N G way away!

But yes, it'll happen.

[craigjm]

GetCarter said:

craigjm said:

GetCarter said:

Local fetes, charity boxes, honesty boxes (etc) don't take cards. Also tips to waiters def go to waiters if it's cash.

So I keep some for said reasons.

Won’t be long. The official buskers on the London Underground and a lot of charity collection points now take contactless

London is a L O N G way away!

Yea but that’s been the case in London for a couple of years. The tip of Scotland will catch up.

[romeogolf]

I can't remember the last time I used cash for anything. If a store doesn't take cash, I just go elsewhere - Although the last time that happened must be 5+ years ago.

You don't earn airmiles with cash.

[PH User]

The Moose said:

alorotom said:

The Moose said:

Joey Deacon said:

As has been said, the only people who want to continue with cash is those who want to avoid paying tax on their money.

It’s also quite handy in a disaster scenario - there weren’t many people taking cards after a rather large hurricane came through...

Well you say that but throughout and after Irma (albeit what 3-4yrs ago) we were in Florida and the places without electricity were accepting neither card or cash and those with electricity were accepting both.

That's not my experience!

I lived (and still do) on a barrier island where Irma hit as a high Cat 3/low Cat 4 in Florida and people/places without electricity were accepting cash. Places with generators and therefore power were about a 50-50 split of accepting cards and cash or just cash.

So that's the rare occasion that you go to a cash machine, the rest of the time why not just use a card?

[RMDB9]

Luckily the world and its habits are not defined by what goes on in Central London.

[Cotty]

PH User said:

The Moose said:

I lived (and still do) on a barrier island where Irma hit as a high Cat 3/low Cat 4 in Florida and people/places without electricity were accepting cash. Places with generators and therefore power were about a 50-50 split of accepting cards and cash or just cash.

So that's the rare occasion that you go to a cash machine, the rest of the time why not just use a card?

Probably worth doing that beforehand. No electricity means no ATMs

[NickCQ]

RMDB9 said:

Luckily the world and its habits are not defined by what goes on in Central London.

No, just funded by it.

[LetsTryAgain]

NickCQ said:

No, just funded by it.

Well not for much longer.
Thanks to our absurd over reaction in response to Covid.

[PH User]

Cotty said:

PH User said:

The Moose said:

I lived (and still do) on a barrier island where Irma hit as a high Cat 3/low Cat 4 in Florida and people/places without electricity were accepting cash. Places with generators and therefore power were about a 50-50 split of accepting cards and cash or just cash.

So that's the rare occasion that you go to a cash machine, the rest of the time why not just use a card?

Probably worth doing that beforehand. No electricity means no ATMs

Good point. Keep £100 at home for emergencies, then cards the rest of the time.

[Steve H]

craigjm said:

GetCarter said:

craigjm said:

GetCarter said:

Local fetes, charity boxes, honesty boxes (etc) don't take cards. Also tips to waiters def go to waiters if it's cash.

So I keep some for said reasons.

Won’t be long. The official buskers on the London Underground and a lot of charity collection points now take contactless

London is a L O N G way away!

Yea but that’s been the case in London for a couple of years. The tip of Scotland will catch up.

Probably not in our lifetimes

Use of cash is age related for sure but it’s also extremely regional and work/class/background influenced.

It may be hard to imagine for some young upwardly mobile city dwellers but there’s a large part of the population that still don’t use online or app based banking, don’t have their cards stored on their phones and prefer to use cash for most routine purchases.

[Patch1875]

Still get paid in cash a lot as many of my customers are in the older category, plenty cheques as well!

[Cotty]

PH User said:

Cotty said:

PH User said:

The Moose said:

I lived (and still do) on a barrier island where Irma hit as a high Cat 3/low Cat 4 in Florida and people/places without electricity were accepting cash. Places with generators and therefore power were about a 50-50 split of accepting cards and cash or just cash.

So that's the rare occasion that you go to a cash machine, the rest of the time why not just use a card?

Probably worth doing that beforehand. No electricity means no ATMs

Good point. Keep £100 at home for emergencies, then cards the rest of the time.

I remember dealing with the claims for the ATM's in Houston after Hurricane Harvey. Not just no electricity but some ATM's were under a few feet of water and took weeks to re-establish them. We had to have the dirty money cleaned before it could be incinerated and replaced. They would not burn the dirty money so we had to "launder" it

[pip t]

itlab said:

I’ve heard The limit on Apple Pay is £10000

And I’ve spend hundreds on it in one go.(even the lady on the till didn’t expect it to work)

But some places still treat it as contactless and and apply the £45 limit (dispite the additional thumbprint/face/pin security)

No limit on Apple Pay (And I assume Google Pay) at their end provided you authenticate the purchase with your password/ fingerprint/ face. If the phone's locked, the limit is as with contactless card. Some retailers impose limits, but that's their decision.

Bought my car with Apple Pay - I knew it would work, but was still a bit stunned when it went through.

[Pothole]

itlab said:

I’ve heard The limit on Apple Pay is £10000

And I’ve spend hundreds on it in one go.(even the lady on the till didn’t expect it to work)

But some places still treat it as contactless and and apply the £45 limit (dispite the additional thumbprint/face/pin security)

Which places?

[Riley Blue]

During lock down I only paid one bill with cash and that was some welding to get a car through the MoT.

Before that, even though I carry £30-50 in notes in my wallet I can't remember when I last used it, probably a fiver in a car park machine. I never carry coins so the change from that would have been dumped in a bowl to be scooped up by the purse carrier in the house.

I've just set up my phone for cashless payments with my debit and primary credit card. If it wasn't for my habit of always carrying my driving licence and various membership cards I'd no longer have need for a wallet.