pete
Junior Member
Posts: 93
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Post by pete on Sept 7, 2023 1:16:03 GMT 10
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Post by arewelost on Sept 7, 2023 13:02:29 GMT 10
I think complaining about it is like complaining about the coming of electric cars, growing wokeness, more taxes and death. They are all coming and not much we can do about it, apart from slight delays. I am already pretty close to cashless, although I must admit to not be fond of the increasing government control. In that poster there are a few illogical statements. Cash always works without electricity or signal. Except if you need to get it from your bank in the first place.
Cash can be quickly handed over to friends and familiy. Except if someone owed me I would prefer it direct to my bank account.
Banks could charge negative interest with no escape Find an alternate investment .. your savings under the matress is not a good solution
Cash costs a business more to handle than electronic transactions. Maybe the exception would be a small family business. Otherwise you have higher securty costs, risk of theft, employee mistakes, employee theft, time to take it to the bank.
When I see a business that pushes cash rather than electronic I see a business that is evading tax. Tax evasion is so widespread in the community, particularly with tradies, that it costs us all. If a cafe or small shop only deals in cash I prefer to go elsewhere. So that business would not be likely to get my trade. If I assessed that they were doing it tough, then maybe.
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Post by Mike Harding on Sept 7, 2023 17:04:56 GMT 10
I think I'm right in saying that the banks take a small amount from every single electronic transaction - I suspect that adds up to an awful lot of money we are now donating to the banks... good, honest and kind people though they are.
A tip; for Aldi but may work elsewhere:
If you do the wave/swipe thing with your card in Aldi they (Aldi) charge you an extra 2% (or some number) because a wave creates a credit card transaction by the terminal even though you may be using an EFTPOS card - instead, insert the card, choose savings, key PIN and Aldi do not make an extra charge. I understand Aldi are simply reflecting on to the consumer the charge the banks lay on them.
I keep a substantial amount of cash on hand... just in case... some in the car, some in the caravan. And I have two bank accounts with different banks thus different cards each with enough to see me out of trouble.
Some years back, in Safeway, ANZ declined my card for a $30 transaction. "WHAT!?" I said but Safeway were having none of it and I paid cash. When home I phoned ANZ and exploded - they said "Yes we can see the (non) transaction and yes you have much more in your account than $30 and no we don't know why it happened." "And we don't care." was left unsaid.
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Post by arewelost on Sept 7, 2023 19:21:32 GMT 10
Aldi is 0.5% commission on non EFTPOS transactions. No business is entitled to charge more than what their bank charges.
The cost to Aldi of handling cash would be greater than that. The cost of cash transport and insurance alone would probably be more.
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Post by toeknee on Sept 14, 2023 21:57:19 GMT 10
To the best of my knowledge, I have never paid a surcharge when using a Debit card
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