New five pound note

asim18 said:
London cant be a cashless society and cocaine capital at the same time. :p

I would rather go somewhere which I know takes cash only. I find card slows everything down.

Why would I wait to queue up in Tescos to buy a bottle of Oasis for £1.30 with my debit card when I can just walk into my corner shop pick up a bottle, put a quid on the counter and walk out.

Same with petrol, five people waiting to pay by card, no problem, walk right on by put a £20 note on the counter and walk off.
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Cards used to be slow back in the days of the zip zap imprint machine and even EPOS swipe & sign. Chip & pin and contactless are just as quick as cash these days. Especially when folk hand over £20 notes for £1.35 transaction requiring loads of change.
 
asim18 said:
London cant be a cashless society and cocaine capital at the same time. :p

I would rather go somewhere which I know takes cash only. I find card slows everything down.

Why would I wait to queue up in Tescos to buy a bottle of Oasis for £1.30 with my debit card when I can just walk into my corner shop pick up a bottle, put a quid on the counter and walk out.

Same with petrol, five people waiting to pay by card, no problem, walk right on by put a £20 note on the counter and walk off.
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Contactless payments by phone are by far the quickest form of payments imo, it literary takes a second and most people have their phone in their hand, I've got to a point now where people paying by cash does my head in, half the time they wait until they are asked for payment to retrieve the money from the pit of their bag within a bag, and then you have to wait for the cash to be tendered, and then they faff about juggling their change while trying to bag the shopping, shout at the kid etc, I just pop my phone over the payment terminal, "beep", done.
 
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wingman said:
Not to mention less risk.
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On several occasions the bank has flagged my cards for use at suspected skimming places, all of which had 'secure payment' stuff...
No-one has EVER stolen cash from me. One person tried and she ended up in hospital, albeit as a result of her reason for stealing rather than me stopping her.

Cash is still a bargaining chip in deals and haggles, as well as a physical spend limiter. But many many people overspend with plastic, which is why we have so much personal debt.

Also, when cash is spent, it shows up instantly.
Even today's "Instant Payment" technology takes days to show up on my bank account and on more than one occasion I've completely forgotten about a transaction until it shows up almost a week later!
 
ttaskmaster said:
On several occasions the bank has flagged my cards for use at suspected skimming places, all of which had 'secure payment' stuff...
No-one has EVER stolen cash from me. One person tried and she ended up in hospital, albeit as a result of her reason for stealing rather than me stopping her.
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Has any money ever actually gone missing from your card though?
If you drop/lose/it gets stolen your wallet full of £20s then it's gone, if someone nicks your card then as long as you can operate a phone or get to branch you're covered for any money that goes walkies.

There is no way from a loss aversion point of view that you can argue cash is safer.
 
Very rarely get cash out but the ATM in town gave me one of these on Saturday. Did a double take at first. The strangest thing is the lack of texture. Did think it was quite small too.
 
cheesyboy said:
She was stealing cash for a taxi to the hospital?
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She was depressed because she'd overspent on her credit card too often and they'd taken it away or something. Because she failed to steal from me, she slit her arm open and muggins here then had to take her up A&E. Joys of shared accomodation.

tom_e said:
Has any money ever actually gone missing from your card though?
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No-one has outright nicked it, but companies have tried to overcharge me or add further charges after getting the details.

tom_e said:
There is no way from a loss aversion point of view that you can argue cash is safer.
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If you want my cash, you have to come and get it off me.
If you want my card, you can probably get that several different ways without even leaving your desk.

If you rob me, you get only what cash I have on me.
If you skim/hack/whatever me (or someone I've had to pay online) to access my account, you get it all... and it seems a lot of people have a lot of trouble getting that back.
 
ttaskmaster said:
If you rob me, you get only what cash I have on me.
If you skim/hack/whatever me (or someone I've had to pay online) to access my account, you get it all... and it seems a lot of people have a lot of trouble getting that back.
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I take it you don't carry a debit card with you, then?
 
ttaskmaster said:
She was depressed because she'd overspent on her credit card too often and they'd taken it away or something. Because she failed to steal from me, she slit her arm open and muggins here then had to take her up A&E. Joys of shared accomodation.


No-one has outright nicked it, but companies have tried to overcharge me or add further charges after getting the details.


If you want my cash, you have to come and get it off me.
If you want my card, you can probably get that several different ways without even leaving your desk.

If you rob me, you get only what cash I have on me.
If you skim/hack/whatever me (or someone I've had to pay online) to access my account, you get it all... and it seems a lot of people have a lot of trouble getting that back.
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Not all thefts are straight up muggings, good pick-pockets are good.

If someone robs me, they get my cards, with which they can do nothing, and I can instantly block and get replaced.

If I get skimmed, hacked, the anti-fraud measures on my cards are hot to trot. I also have 3 cards on rotation (debit and 2x credit) as well as 2x credit cards that never leave home as emergency money sources.

The only time I draw money is to pay the maid or barber.
 
Basher said:
I take it you don't carry a debit card with you, then?
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That is becoming an unfortunate neccesity now, as well, since there are places that don't actually take cash.

krooton said:
Not all thefts are straight up muggings, good pick-pockets are good.
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They'd need to get through several clothing layers, including 2 main zips, as well as getting that close to me without me noticing in the first place...

krooton said:
If I get skimmed, hacked, the anti-fraud measures on my cards are hot to trot.
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So if I hack your details from a company you've bought something from and use that to access and drain your account, your anti-fraud measures prevent this?
 
I like the look of the note, and always carry small amounts of cash with me, usually £20 most.

It just makes small things like buying a coffee or newspaper much easier. Plus there are certain things you can't pay with card yet, like small cafes or so.
 
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