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To hoard or not to hoard? UK consumers on the pros and cons of cash (www.theguardian.com)

submitted 6 days ago by Davriellelouna@lemmy.world to c/unitedkingdom@feddit.uk

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[–] Flamekebab@piefed.social 6 points 5 days ago (1 children)

Why do all cash-fixated people say stuff like this:

Ty says: “Unlike card, cash is private and doesn’t leave data about the purchase, it doesn’t cost the merchant transaction fees, [...]

There are ABSOLUTELY processing fees associated with cash! When I was running my own business I hated having to deal with cash and customers always acted as if they were doing me a favour by using it. A card payment would drop into my account, job done. A cash payment had to be kept secure and then I'd have to find time to take a trip to the bank to pay it in, whereupon my bank would take a cut to handle the cash.

Overall it was about as expensive for me regardless, except cash also added hassle and security concerns for me. It also invariably ended up with me having to deal with tax-dodging weirdos who wanted to be pally about it.

No, mate, I don't cheat on my income tax like some sponging arsehole, and being proud of that sort of selfish behaviour is gross.

[–] HumanPenguin@feddit.uk 1 points 5 days ago

They say it. Because they have never run a business. Honestly most have no reason to understand how banks charge for cash payments.

For small businesses they also assume the business dose not pay cash into the bank. Also the fact many small store historically charged users for small card transactions. Gives many 40s plus customers a out dated view of how the banks charge. The cash in cash out cash and carry retail business no longer exists. But the fact that many local store used to work that way to reduce costs still effects many customers opinions.

As for lack of data. They say that because it's basically true. All card transactions do store data.