it's easier & more cost effective to take card still. The fees on that £2 are about a penny.
Should the BOE issue a £100 note?
- Thread starter dowie
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it's easier & more cost effective to take card still. The fees on that £2 are about a penny.
Soldato
I don't think we should have a £100 note yet, but the £50 should be more legitimised / accepted by shops and bronze money 1p and 2p should be scrapped.
This is what I propose:
The bronze coins should be single-digit values - 5p
The silver coins should be double-digit values - 10p, 20p and 50p (so the same as now)
The gold coins should be triple-digit values - £1, £2 and £5 (so no more £5 note)
The notes should be quad-digit values - £10, £20 and £50
This is what I propose:
The bronze coins should be single-digit values - 5p
The silver coins should be double-digit values - 10p, 20p and 50p (so the same as now)
The gold coins should be triple-digit values - £1, £2 and £5 (so no more £5 note)
The notes should be quad-digit values - £10, £20 and £50
Soldato
That sounds like a good idea.
Soldato
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Yeh I like this idea as well. Simple really but I don’t think we have to change the 5p just keep it as is. £5 coin would be good if they where more widely accepted would be a pain in the arse for all the machines though.
I rarely ever see £100 notes, they’d be handy if they were accepted more abroad.
Ha said what I was thinking but better
Why a £5 coin though? That seems pointless given we have polymer notes now. There are £5 coins already but just for collection purposes* and they're expensive to make, notes are cheaper and the polymer ones last longer, if anything perhaps £1 and £2 notes might be worthwhile too.
*or at least intended for that, no reason why you can't spend them though if you wanted to
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Caporegime
I suppose if you're looking to plug a problem that no one actually has you may as well print 1 pound notes (again, having stopped doing so years ago), a new 2 pound note, a new 100 pound note, and maybe a new 500 pound note because why not?
For a retailer to take a card? Last time I looked it was about 3.4% per transaction with Amex apparently taking as much as 10%. Large retailers can obviously negotiate better deals but there’s a good reason for the investigation into Mastercard and Visa fees
You could say the same about the post I was replying to - why a £5 coin instead of a note? Except the note makes more sense as it's cheaper!
Caporegime
The only people who use cash are old people (35 and over) and coke fiends so while I agree with you that one nonsense is more nonsensical than another nonsense, they're both both still nonsense.
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What else are we meant to use
Gold bars & chocolate buttons, 
I think a £100 note is a great idea
Only a few weeks ago i got £2000 in £20 & £10 & £5 pound notes, would have been far better if it was only 20 £100 notes
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I'd like to see the £50 in far more common usage, in ATMs etc. The Eurozone seems to cope nicely with €100 notes being very common so why are we effectly stuck with a wallet full of £20s?
Separately, are there any awkward side effects of abolishing 1p and 2p? All transactions a multiple of 5p? That to would make sense to me.
Separately, are there any awkward side effects of abolishing 1p and 2p? All transactions a multiple of 5p? That to would make sense to me.
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Soldato
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A lot of people prefer it because it’s easier to budget on a night out, sod using your card on a night out end up spending an absolute fortune. Just endless tapping here there and everywhere. Watch makes it even easier!!
Easier to just stick the £10 in the bum/shirt pocket for the taxi ride home as well.
I could be wrong but I’m sure Australia scrapped the 1c 2c and just kept the prices the same. If your change is meant to be 3c you get nothing. Swings and roundabouts. if it’s 9.33 you pay 9.30
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I think it makes plenty of sense for retail at least. Granted you'd perhaps still want utility prices to be more granular in terms of price per KWh but that's not really a barrier, they're usually paid electronically or even if in cash at the postoffice you could overpay by up to 4p without drama. Likewise you maybe want bank statements to still be to the nearest 1p but it's not an issue to have it to multiples of 5p... the interest behind the scenes is a bit messier anyway with fractions of pennies as it is.
Caporegime
You rascal.
NZ and Ozzie use cash rounding or Swedish rounding, yes. The 'kept the prices the same' argument is less definite.
