Stash the Cash

[Bper]

No cash? No problem.. or so I thought. Local shops and ATMs out, even supermarket couldn't give cashback. Is this the cashless future we're heading for? Has anyone seen in their area the Banks, Building Societies,and cash machines disappearing.😠

 

 

[Cyker]

You probably just got to all of them just ahead of the securicor van topping them up  

There was a small shortage in my local area but I suspect it was just because of the Enfield Car Pageant  as cash is still the preferred way to buy stuff in the auto-jumble there, although the ice cream vans, food stalls and even the bigger jumble stalls tend to have card readers now!

[Rhymes with Paris]

I always carry on the hip, cash only, alright?

Having said that, I noticed some of the local dealers in stolen goods and narcotics have started using sum up card readers now,as have the ones who used to shout"gissue" and "spare a pound for the children ?"

Why do they always have a dog on a rope?

[Bper]

47 minutes ago, Cyker said:

You probably just got to all of them just ahead of the securicor van topping them up  

There was a small shortage in my local area but I suspect it was just because of the Enfield Car Pageant  as cash is still the preferred way to buy stuff in the auto-jumble there, although the ice cream vans, food stalls and even the bigger jumble stalls tend to have card readers now!

Well I think the securicor van might have a bit of trouble filling some of these up.😂 Only wanted £30

Halifax building society closed down - cash machine removed

Barclays bank closed down - cash machine removed 

Lloyds bank closed down -cash machine removed

HSBC cash machine out of order

Morrisons Supermarket 2 cash machines - unable to dispense cash

Nationwide building society -unable to dispense cash due to flooding.

[Rhymes with Paris]

14 minutes ago, Bper said:

Morrisons Supermarket 2 cash machines - unable to dispense cash

Maybe try a Waitrose if nearby, they have a much better class of cash machine.

And it's convenient to pop in for a few scallops and a bottle of bolly while there.

[Bper]

31 minutes ago, Rhymes with Paris said:

Maybe try a Waitrose if nearby, they have a much better class of cash machine.

And it's convenient to pop in for a few scallops and a bottle of bolly while there.

When we lived in London we had a Waitrose within walking distance but the nearest one is about 17 miles away. I thought Scallops and bolly is what you gave your staff for lunch most days.😂

[Cyker]

Yeah we don't have many brick'n'mortar banks around either, is a pain in the proverbial, and given this is London I dread to think how you're supposed to visit a bank in a rural village!  

I do find petrol stations and supermarkets the best places to go to get at a cash machine though, although I usually pull on the card reader slot to make sure nothing's attached to it before putting my card in as there've been some cases of card skimming reported in the past!

 

[Rhymes with Paris]

7 hours ago, Cyker said:

I dread to think how you're supposed to visit a bank in a rural village!

I use a nearby village post office to pay some bills and can pay in or take out cash from bank accounts there.

Sooner have my branch of Coutts still open, but like the others, mostly all gone.

Still Cyker, the one in the Strand is still open I think,if you're passing.

[Primus1]

Remember when you went in the bank and the cashier asked if you’ve considered internet banking?, well we’re seeing the results of that now…

[MC1216]

It's alright stashing the cash but my Uncle went a bit over the top...cleaned out his house last year when he moved to something smaller and he had thousands in OLD notes...trying to pay it in to his bank account was a nightmare.

They thought an 83yr old man must have been a drug dealer🤣

 

[APS]

You were probably just a bit unlucky in your timing. Saying that, shops, buses, taxis no one wants to have loads of cash as it makes them vulnerable. 

[Parts-King]

About 40 years ago, we used to have a scrap metal dealer buy cars from us, every 6 months or so he would walk in with a carrier bag full of cash. Oh I think I will have one of those, and pay pound notes (or £20's) for a brand new car from his carrier bag. Imagine that in todays world, the fraud squad would burst through the doors and arrest everyone who had touched the cash 😂😂

[Roy124]

We had a scrapping almost like that.   A real Fenlander.  He contracted to remove scrap from two bombing ranges in Lincolnshire. 

There were a couple of bomb scares arising.   One was on a housing estate.  Someone was suspicious of the garden ornaments at a house.  They were American 500lb bombs, inert I should add but only after being certified.

"Where did you get those from?"

"Don't know his name, but he's only got one arm."

~~~

Knock knock

"Yes?" said Nigel (name changed).

They searched his home and grounds and were eventually satisfied that everything was fair and above board (just).  Then he asked if the would like to look in a locked shed.

Inside were boxes of live 0.5in ammunition, fell out of a helicopter. 

Extraordinarily nothing more was said.

We reckon he was as sharp as a tack, always had a wallet stuffed with cash, and was otherwise illiterate. 

[Roy124]

Some years ago we lost our only cash machine in a large village.   Lost as in someone removed it at 11 at night.

Cash was still needed in those days and it was a nightmare as cash back was needed but no one had cash to buy stuff.

The Parish Council installed its own machine.  The foundations were about 10 feet deep.  Then the Coop, two independents and Budgens all installed machines.  Even HSBC reinstalled its machine and rebuilt the bank.

Weeks later HSBC closed bank and machine.

[Parts-King]

Somebody tried to blow up the cash machine at the Co Op in my village, they mustn't have used enough gas as it only cracked a bit of brick work and they legged it, never seen so many people look at a cash machine, cops all around scratching their heads for hours 🤣🤣

[Haliotis]

I rarely carry any cash these days - so easy to just swipe my debit card at the till, even for small purchases. But if I do want a few pounds, our local Lidl, just a few streets from us, still do cash back.

Our Sainsbury’s and Tesco now have only a few checkouts, and most of them stand unmanned - conversely the self checkout points have increased.

In our small town we used to have four banks - now we just have the Nationwide.  I have been with Nationwide for a long time, and do my banking on line.  The one downside is that, if someone sends you a paper cheque, this has to be taken to the bank to be credited into your account.  That happened to me last November - from my house insurers, with whom everything is dealt with on line !!!!  Crazy.

Although nearly 90, I have no trouble doing my finances, or making purchases, on line.  But my wife is hopeless, because she is scared of making a mistake, and cannot deal with things like passwords.  I am lucky - during my career my Company went computerised, and I was required to learn four different disciplines.    As the elderly pass on, I think the government are hoping the “new elderly” will become computer literate, but I’m not sure they have got it right.  So some poor sods may well have a struggle.

[Bper]

Traditionally cash was king. For anything but major purchases payment plans or later credit cards used sparingly cash was the norm. Today credit, debit, and contactless payments dominate due to the impracticality of carrying large amounts of cash.

The rise of mobile banking and the decline in branch visits have led to bank closures. While many adjusted to this, the promise of continued ATM access offered some solace. However concerns about ATM maintenance costs have led to removals.

In major cities this might be an inconvenience. But in rural communities it's a major problem. Many small businesses the lifeblood of these areas prefer cash and lack the infrastructure for card payments. Without access to cash these businesses and the ATMs themselves could disappear entirely.

 

[Haliotis]

Brings a thought, “How would we manage if ATMs were phased out entirely?”   If the Bank of England stopped producing hard cash (and perhaps even steadily withdrew what was in circulation), how would we survive?  Perhaps those of us with bank accounts  - many of us already doing our finances on line - could probably adjust.  But what about the ones who do not have bank accounts, and may even not be eligible to open one?  How would they cope?

With no bank notes or coinage to produce or replace due to wear, the Bank of England would save a huge cost. Counterfeiters would be put out of work, and there would be no hard cash in ATMs for thieves to attack - so some work load relief for the police.  There must be many other ways that removal of hard cash could save costs.  So all this is an indication that a government could reduce expenditure by the extinction of hard cash.  Has it been considered, and would they dared to do it?

[Bper]

1 hour ago, Haliotis said:

Brings a thought, “How would we manage if ATMs were phased out entirely?”   If the Bank of England stopped producing hard cash (and perhaps even steadily withdrew what was in circulation), how would we survive?  Perhaps those of us with bank accounts  - many of us already doing our finances on line - could probably adjust.  But what about the ones who do not have bank accounts, and may even not be eligible to open one?  How would they cope?

With no bank notes or coinage to produce or replace due to wear, the Bank of England would save a huge cost. Counterfeiters would be put out of work, and there would be no hard cash in ATMs for thieves to attack - so some work load relief for the police.  There must be many other ways that removal of hard cash could save costs.  So all this is an indication that a government could reduce expenditure by the extinction of hard cash.  Has it been considered, and would they dared to do it?

Hi Albert,can you imagine ditching your wallet and using only your phone for money. That's the idea behind central bank digital currency, or CBDC for short. Governments are thinking about making this a reality, and it would definitely have an impact on us. Paying with your phone could be faster and easier than using cash, and you wouldn't have to worry about losing your money. For people without bank accounts, CBDCs could provide a way to access the financial system.

However there are downsides concerning privacy. The government might be able to see all your purchases. Not everyone has a smartphone or good internet, which could disadvantage some people. And what happens if there's a technical glitch and you can't access your money.

While CBDCs sound like the next step, there are serious concerns about keeping your financial information private. Another major worry is that the government, which often likes to exert control could potentially restrict your access to your own money. I do believe CBDCs will be introduced, as the majority of large payments are already made electronically. We'll have to see how this progresses but one thing's for sure cash may not be king for much longer.👑

[Cyker]

I'd not support the removal of cash completely as it's good to have a backup when things stop working.

There've been a good few times where I've wanted to pay for fuel or otherwise buy something only to find the card machine has stopped working.

The time it happened with fuel I lucked out as I had just enough money and a Shell fuel voucher to make up the difference, but almost everyone else was stuck.

 

At first the attendant was telling people to use the Link ATM outside which was still somehow working, but it ran out/stopped working as I was going in to pay and he was having to dig up a load of forms for people who only had cards to fill in!

[Rhymes with Paris]

Yep, seen this happen at M&S food hall a couple of years ago.

The system has gone down temporarily and the staff were out front warning people that they couldn't purchase anything unless they had cash on them.

I adopted a very smug look as I walked past all the high tech folks with only phones or cards, wasn't so smug afterwards though, they had no foie gras, and no tins of Beluga.

So I had to make do with Ardennes pate and a tin of pilchards.

[Bper]

1 hour ago, Bper said:

Hi Albert,can you imagine ditching your wallet and using only your phone for money. That's the idea behind central bank digital currency, or CBDC for short. Governments are thinking about making this a reality, and it would definitely have an impact on us. Paying with your phone could be faster and easier than using cash, and you wouldn't have to worry about losing your money. For people without bank accounts, CBDCs could provide a way to access the financial system.

However there are downsides concerning privacy. The government might be able to see all your purchases. Not everyone has a smartphone or good internet, which could disadvantage some people. And what happens if there's a technical glitch and you can't access your money.

While CBDCs sound like the next step, there are serious concerns about keeping your financial information private. Another major worry is that the government, which often likes to exert control could potentially restrict your access to your own money. I do believe CBDCs will be introduced, as the majority of large payments are already made electronically. We'll have to see how this progresses but one thing's for sure cash may not be king for much longer.👑

Cyker,IMO If digital currency were introduced, it would initially need to run alongside cash. However, over time, cash would likely be phased out. Phones wouldn't be the only method of making payments; implanted chips in wrists are already in use and could eventually become the norm. Card payments are used for most purchases, and it always makes me laugh when we go back to London and see people paying with their phones for a tea or coffee at Liverpool Street Station. But considering the cost of a coffee is nearly the price of a tank of V-power, I'm not surprised.

Personally, I stopped carrying cash many years ago. This wasn't out of choice, it was more convenient than running to an ATM every few days. ATMs are being slowly phased out, and it is now common in many towns for a bank to send a mobile van once a week so people can still do their banking. Banks and building societies will also eventually disappear, as many of us have already witnessed. Just as we have seen the way of working change from traditional workplaces to working from home due to technology, we will probably see digital currency introduced in the similar way.☹️

 

[Haliotis]

Problem is, things can go wrong when nothing is wrong.  Sounds daft? - let me explain.   Yesterday I went on line to access my bank account, just to transfer some cash for an item she had obtained for me.

Three times I entered my security details (correctly) and three times the screen said either my email address or password was wrong.  So I logged out and logged back in.  This time it worked perfectly.  

Bob, your comment about people paying with their phones for a coffee.  Some companies have a minimum charge - our local pharmacy has a £5 minimum charge, so if you bought something for £2 it would cost you £5 if you used your phone or debit card.

[Roy124]

36 minutes ago, Rhymes with Paris said:

Yep, seen this happen at M&S food hall a couple of years ago.

The system has gone down temporarily and the staff were out front warning people that they couldn't purchase anything unless they had cash on them.

Lucky.   Where our village power failed you could not buy anything as the tills could not work and they didn't know what to charge.

In our Coop in the 50s I still remember the shop assistant.   First I marvelled at her very long but dirty finger nails.  The items were totted up in pencil on one of the paper bags.  When we finished she summed it up faster than you could key it in.

Scanning at least does immediately stock taking.

[Roy124]

I never carried cash since I left school except for occasional trips into town, everything on credit.  I could draw up to £10 cash against a cheque at any bank.   My first card was a National Westminster key card.  It was a punch card you inserted into the bank cash machine, there was one in Piccadilly.  You keyed in a 6 digit number and it dispensed £10.  The card was retained and the bank posted it back. I had TWO  cards.