Going cashless.

[Workingman]

It is on the cards again though it is unlikely to happen in under a decade.

It is interesting to read comments about this online. Some are all for it and want it to happen tomorrow. Others would like cash to make a mini comeback and to be able to pay for a lot more services using cash. Most, though, are more than happy with today's mix and match as it covers most bases.

I am in the last group. I have a current account and debit card. It is used for pension payments in and direct debits going out. It is also used for one-off big bills such as petrol or monthly gas, as well as one weekly transaction to another card. That other card is a pre-pay card used for my weekly "shop" for things like bread, papers, food and treats. Once the money is gone I have to wait for the following Monday's transfer to start spending again so it is good for budgeting.

I am basically "cashless" except for one thing. I keep about a month's cash in a cash box at home just in case there are emergencies (power cuts) or for special occasions - birthdays, weddings etc.

Any thoughts?

[cromwell]

Money laundering may be more difficult in a cashless society?
But I'm ok as I am. The prospect of being totally scammed and robbed and then being unable to prove it or get my money back is not for me.
Plus there is the social credit system scenario.
Trudeau has already blocked access to bank accounts because he didn't like the people whose accounts they were; that's the road we're on.

[medsec222]

I like being cashless now. My husband used to give me a month's housekeeping in cash which I kept in a drawer and managed from week to week. Now he transfers my housekeeping straight into my bank and it is better for me, as I don't budget so much weekly as monthly, so I feel I have more scope over the month to spend the housekeeping. I don't keep any cash in my purse now and it has kept looking brand spanking new as it only contains a couple of credit cards. On the other hand, my husband does like to have cash in his wallet and he feels comfortable with that.

[miasmum]

I rarely have cash and even less now I use my phone to pay as that is always with me.

[Suff]

I carry cash but rarely use it. I still remember working and flying through multiple countries; so that I had to have a ready supply of Deutschmarks, dutch Guilders, Belgian Franks and French Franks. Plus a smattering of Swiss Franks. Then, of course, UK pounds.

So cashless became a goal.

[TheOstrich]

I wouldn't want to see cash disappearing entirely; I'm happy to work with both systems. Like Crommers, I'm uncomfortable with having all my financial dealings electronic, and I avoid using a card in a shop where I haven't bought anything before, especially after knowing there was a huge "card cloning" fraud at a West Midlands petrol station near where we used to live.
I always get and keep a receipt for card transactions.

Pre-covid, I'd be paying virtually everything in cash. Now, most - but by no means all - of my transactions are by card, true, but anything under around a tenner I still pay cash.
And a small number of shops I use around here are still "cash only" anyway, including the chippie.

[cromwell]

I would never use a card in a petrol station and there are some restaurants around here that I wouldn't use a card in either Os, because of cloning.

[Workingman]

It looks like most of us are more than happy with card and cash systems - a bit of what you fancy.

Re cloning. I have a RFID blocking card in my wallet. I have tried to make payments with both cards with the blocking card near them and they cannot be read. Take the RFID card away and everything works. Cheap as chips on eBay.

I will never use a phone app for any banking or transactions.

[Suff]

I have never had an issue with cloning.

I use banking apps on my phone by preference now. I run an AV suite on my phone and it has fingerprint recognition for logging in on all but one app.

My phone is fully encrypted (which my PC is not) and because I use my own business Office365, the screen timeout is limited to 2 minutes. The biggest issue with that is that you lose your entire life when your phone dies or is lost or stolen.

For me I can use either so it is more of an inconvenience than a disaster.