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The Bar For non Automotive Related Chat |
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#1 | ||
FF.Com.Au Hardcore
Join Date: Jun 2010
Posts: 1,355
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I wanted to withdraw $5,000 Cash from my savings account, I had to give the Bank 48 Hours Notice.
Small Business used to get a Business Package which included a Set Fee for Credit and Debit Transactions now the Banks charge 3.5% per transaction. |
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#2 | ||
praek tih kl jo kr
Join Date: Mar 2011
Location: Atwell W.A.
Posts: 1,651
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They don't want you dealing in cash, they want you to transfer money and become a cashless society, I went to a branch a few months back to withdraw some cash and was informed it was a cashless bank? WTF, was informed I could withdraw from the teller machine out the front?
Solution was to close the account and move my money to my other bank who do still deal in cash, if it gets any worse I will be buying a decent safe and keeping my cash where I can access it. We need to deal more in cash before we lose it forever. |
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#3 | ||
FF.Com.Au Hardcore
Join Date: Jun 2010
Posts: 1,355
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I believe the Banks and Government want a Cashless Society.
Banks can close more Branches and sack staff. The Government can close the Mint and Note Printing Branch, which will save Millions in Costs and also sack the Staff. |
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#4 | |||
FF.Com.Au Hardcore
Join Date: Mar 2007
Location: Sunshine Coast QLD
Posts: 876
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Quote:
I'm sure others have seen the thing on social media about how $50 in a cash society remains $50 no matter how many hands it passes through, where as it loses value through each electronic transaction as the bank takes a cut each time?
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Octane BFII XR6 Turbo manual sedan. SOLD 2014 BMW S1000R 2006 Toyota Landcruiser GXL 1HD-FTE |
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#5 | ||
FF.Com.Au Hardcore
Join Date: Dec 2004
Location: Canberra Region
Posts: 8,925
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They'll have to keep printing cash, whether we go cashless or not.
__________________
2016 FGX XR8 Sprint, 6speed manual, Kinetic Blue #170 2004 BA wagon RTV project. 1998 EL XR8, Auto, Hot Chilli Red 1993 ED XR6, 5speed, Polynesian Green. 1 of 329. Retired 1968 XT Falcon 500 wagon, 3 on the tree, 3.6L. Patina project. |
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#6 | |||
Donating Member
![]() Join Date: Mar 2007
Location: Heading thru Hell (Corner)
Posts: 8,182
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Quote:
It's old technology and honestly can't see why people want it retained.
__________________
Labels are for jars, not for people. Life is a journey, not a destination. ~~~~~~~~~~~~~~ Daily: 2013 FGII EcoLPi in Winter White Play: 2015 FG X XR8 in Emperor Show' N Shine thread Gone, but not forgotten: 2015 SZII petrol Titanium Territory in Emperor |
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#7 | ||
FF.Com.Au Hardcore
Join Date: Jun 2010
Posts: 1,355
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I hope small Business starts offering a Discount for Cash or just adds the 3.5% for Electronic Transactions. I now have a better understanding of no Split Bills at Restaurants etc.
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#8 | |||
FF.Com.Au Hardcore
Join Date: Jan 2005
Location: Hervey Bay
Posts: 5,212
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Quote:
I've been to a number of businesses in the past and tried the "will you do better for cash". They told me no because its too expensive to deal in cash. The only incentive for small business to prefer cash was once the ability to hide it. There is no real way to hide it anymore these days. I'm also not sure why a business would add electronic payment fee. Any smart business would include that in the base cost of the item anyways. |
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#9 | |||
FF.Com.Au Hardcore
Join Date: Mar 2007
Location: Sunshine Coast QLD
Posts: 876
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Quote:
I actually cant believe the hide of small business owners who look you in the eye and tell you they are going to charge you extra on top of the price for tapping and going because the bank is charging them!
__________________
Octane BFII XR6 Turbo manual sedan. SOLD 2014 BMW S1000R 2006 Toyota Landcruiser GXL 1HD-FTE |
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#10 | |||
Cabover nut
Join Date: Aug 2015
Location: Onsite Eastcoast
Posts: 10,827
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Quote:
It's an everyday extra charged on paying in most cafe's now and very hard to tip someone personally using a card ! Supermarkets like Aldi's have huge signs stating a fee added to the bill for using cards whether its your money or credit. Cash is king.
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heritagestonemason.com/Fordlouisvillerestoration In order that the labour of centuries past may not be in vain during the centuries to come...... D. Diderot 1752
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#11 | |||
Experienced Member
Join Date: Sep 2006
Location: Australasia
Posts: 7,540
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Quote:
Banks want cashless to charge you fees, government want cashless for tax purpose. People these days are being hoodwinked with cashless transactions and do not see the true costs against the consumer. PS: Oh yea just wait when the machines are down, and you cannot do transactions in times of need. Last edited by Itsme; 08-07-2023 at 11:20 PM. |
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#12 | |||
praek tih kl jo kr
Join Date: Mar 2011
Location: Atwell W.A.
Posts: 1,651
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Quote:
When I purchased my hoist and paid in cash the owner said he wasn't accepting cash and he wanted me to pay by card, I just said I will buy a hoist somewhere else then, then he took the cash. He gave me some speel about now having to pay one of his staff to take it too the bank, I just said it better than not being able to pay your staff because you didn't sell a hoist? |
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#13 | |||
FF.Com.Au Hardcore
Join Date: Jan 2005
Location: Hervey Bay
Posts: 5,212
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Quote:
You pay a large sum of cash to this hoist guy and he has to store it and insure it, just in case. Then he has to take it to the bank, whether he pays an employee to do it or does it himself, and takes the risk of it being stolen. He may insure the potential lost, which costs him. If the person taking it gets rolled or loses it, he's out at his loss, not yours. If he or the employee get hurt then workcover get involved and he's hit up for higher premiums and the demand to not use case or use a professional cash transfer service, which costs him even more money. I work at a place that roughly does about $1m per month in revenue, split about 65/35 card and cash. Every day we lose money because staff can't count the cash properly, the tills are always out. Sometimes upto $50 a day per till, and there are 10 of them. At the end of every month the aim is to not have more than $1000 in cash lost. In order for it to be banked for wages and purchases, this cash has to be counted multiple times in house to be sure there are no errors, your looking at roughly 2 man hour days per week spread across multiple people to make that happen. Then it needs to be transferred using secure professional services to the bank. Prosegur alone costs about $10k per month. And that $10k does not include all of the other costs listed to make it happen. When that $350k in this case, if it were card, would only cost around $5000 in transaction fees. Whereas the EFT balances are never ever out of balance and it happens instantly without any extra work required. Quite simply people stubbornly clinging to cash actually INCREASE the costs of doing business and therefore increase the costs to the consumer, but are completely blind to the fact they are. You are not doing businesses a favour at all. |
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#14 | |||
Experienced Member
Join Date: Sep 2006
Location: Australasia
Posts: 7,540
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Quote:
You are only swallowing the BS from banks & govco who implement these charges. |
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#15 | |||
praek tih kl jo kr
Join Date: Mar 2011
Location: Atwell W.A.
Posts: 1,651
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Quote:
If he does not want to accept cash he will be losing a portion of his income, which in turn will effect his ability to pay his staff member, this is why I would say he took it as I proceeded to leave. If we think of all the shoulda, woulda, coulda, scenarios, he could have his account hacked, taken to a teller machine at gunpoint, staff member taking a cut from the account, there are risks involved with being in business and that's life. Cash has worked fine for hundreds of years, Im sure it will work for hundreds more. I'm also sure your card will be useless if we end up in a war scenario like Ukraine, go buy your food to survive with a cashless society then. |
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#16 | |||
FF.Com.Au Hardcore
Join Date: Nov 2009
Posts: 2,806
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Quote:
and yes, I know the charges are often hidden in the business' prices, but it makes me feel better ![]() |
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#17 | ||
FF.Com.Au Hardcore
Join Date: Jun 2010
Posts: 1,355
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Previously the small business had a fixed fee of $300 Per Month for Electronic Transactions.
If the business does a large amount of Electronic Transactions the fee was minimal per transaction. Now if the small business does $50,000 a month electronic transaction the fees would be $750. |
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#18 | ||
HSV - I just ate one!
Join Date: Dec 2004
Location: Middle of nowhere
Posts: 3,111
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*DO NOT* get me started on banks.... lets leave it that when they tell you they dont know where your money is, the bank, the police & the local magistrate all seem to consider it perfectly acceptable.....
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I dont care if some prius driving eco-hippy thinks its politically incorrect for me to drive a V8..... I'm paying for the fuel! |
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#19 | ||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,891
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Open up more bank accounts :P $2k ATM withdrawal per day per bank.
__________________
~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. ![]() |
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#20 | ||
Sick Puppy
Join Date: Jul 2006
Posts: 1,963
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I just have to log onto my banking app and change my daily withdrawal limit. Takes about 1 minute.
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#21 | ||
Donating Member
![]() Join Date: Mar 2007
Location: Heading thru Hell (Corner)
Posts: 8,182
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No matter your personal preference, I'm sure there are pros and cons with both. Go with whatever works for you. I just wanted to post that I don't use cash. There have been very few times where I've not been able to make payment with a card or via funds transfer since I essentially went cashless about 5 years ago.
The biggest bonus for me is I don't have to lug a whopping big wallet around like my old man taught me to do as a young lad. It took a while to adjust, but I really don't miss cash at all. I do carry $10 on me for those rare occasions where electronic payments are not accepted.
__________________
Labels are for jars, not for people. Life is a journey, not a destination. ~~~~~~~~~~~~~~ Daily: 2013 FGII EcoLPi in Winter White Play: 2015 FG X XR8 in Emperor Show' N Shine thread Gone, but not forgotten: 2015 SZII petrol Titanium Territory in Emperor |
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#22 | |||
Experienced Member
Join Date: Sep 2006
Location: Australasia
Posts: 7,540
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Quote:
Don't get me wrong I use cards at my discretion when I choose to do so, but I hate it when corporations and governments force their whims and ways on you. They always start off saying there is benefits and no added costs but change the rules down the road. Banks are the biggest hypocrites in society, and yet people swallow their BS. PS: I carry some cash, but no I don't have a big bulging wallet like I use to. ![]() |
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#23 | |||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,891
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Quote:
And for those who think cashless is some form of ultimate gov / NWO control, holding cash will do SFA. They will just ultimately outlaw it and it'll become useless. Better to start buying up physical gold and silver, and hope retailers will accept them for goods and services, under the table. I use about 70% card, 30% cash.
__________________
~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. ![]() Last edited by T3rminator; 09-07-2023 at 03:48 PM. |
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#24 | |||
Experienced Member
Join Date: Sep 2006
Location: Australasia
Posts: 7,540
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Quote:
Cash will never be made redundant, you are deluding yourself. Cheers |
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#25 | |||
Donating Member
![]() Join Date: Mar 2007
Location: Heading thru Hell (Corner)
Posts: 8,182
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Quote:
I'm not arguing the time of processing cash v electronic, just an observation of the difficulty the younger generation seem to have handling cash these days.
__________________
Labels are for jars, not for people. Life is a journey, not a destination. ~~~~~~~~~~~~~~ Daily: 2013 FGII EcoLPi in Winter White Play: 2015 FG X XR8 in Emperor Show' N Shine thread Gone, but not forgotten: 2015 SZII petrol Titanium Territory in Emperor |
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#26 | |||
Experienced Member
Join Date: Sep 2006
Location: Australasia
Posts: 7,540
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Quote:
Only matter of time when AI takes over and we all will be made redundant. ![]() |
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#27 | ||
Critical Thinker
Join Date: Jan 2005
Location: Adelaide
Posts: 20,324
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Don't mind me, I'm subscribing to this thread and waiting for someone (other than me) who will bring up the topic of CBDC's and its blockchain ability. Lots here are for digital currency, only to allow authorities to then be able to control HOW you spend and WHAT you spend it on based on your behavior online and in public.
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__________________
"the greatest trick the devil pulled, is convincing the world he doesn't exist" 2022 Mazda CX5 GTSP Turbo 2018 Hyundai Santa Fe Highlander 1967 XR FALCON 500 Cars previously owned: 2021 Subaru Outback Sport 2018 Subaru XV-S 2012 Subaru Forester X 2007 Subaru Liberty GT 2001 AU2 75th Anniversary Futura 2001 Subaru GX wagon 1991 EB XR8 1977 XC Fairmont 1990 EA S Pak 1984 XE S Pak 1982 ZJ Fairlane 1983 XE Fairmont 1989 EA Falcon 1984 Datsun Bluebird Wagon 1975 Honda Civic |
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#28 | ||
praek tih kl jo kr
Join Date: Mar 2011
Location: Atwell W.A.
Posts: 1,651
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At the end of the day, when the banks have an "outage", which we are seeing more of in the last few years, I can still pay for the meal I just ate, or the fuel I just filled my tank with, or any other situation I may find myself in when the cashless system does not work.
Cash is King! |
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#29 | |||
WT GT
![]() Join Date: Jan 2006
Location: The GSS
Posts: 17,759
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Quote:
![]() If the systems are down, why would there be anybody serving "meals", "fuel", etc.? ![]() |
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#30 | ||||
praek tih kl jo kr
Join Date: Mar 2011
Location: Atwell W.A.
Posts: 1,651
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Quote:
Quote:
No need to worry though, I was fine ![]() ![]() |
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