Banks.

[Itsme]

Originally Posted by arm79

So you are completely oblivious to the facts as I have written. Facts as written by a business owner who does all the admin for that business and in addition works in a business that has a large cash revenue component and watches how onerous looking after the cash side is.

You believe that cash is cheaper for business. I'm telling you for a vast large majority of businesses, it isn't. It's more expensive to handle cash than simple use cards and pay a transaction fee.

Thats not swallowing BS. It's simply realistic facts.

I don't give toss what businesses say, they just pass on the costs to the customers like they always do, it us the public who gets screwed over.
Again, you are falling to the BS of banks, big business and govco, take your blinkers off and see what is really happening.

[Itsme]

Originally Posted by FoxtrotGolfXray 5.0

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.

Fair call, each to their own.
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.

[T3rminator]

Originally Posted by FoxtrotGolfXray 5.0

No matter your personal preference, I'm sure there are pros and cons with both. Go with whatever works for you.

100%. Cashless transaction is efficient, but you pay a small fee for it. That goes with anything really, you want speed and efficiency, it doesn't come for free. Imagine if everyone was still rummaging through their paper notes and coins at the checkouts, or at the service station, or when they hopped on a bus or a train.....

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.

[blueoval]

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.

[T3rminator]

Originally Posted by 1970XW351

It's funny, a couple of my mates are firmly anti cash and think I'm bonkers for being the opposite.

We went to Singapore for a few days earlier in the year and who was Johnny on the spot to pay our way out when there were no card facilities in a few of the more remote areas?

I don't think it changed their view at all but the irony was not lost on me.

Lol sucker. The good old "I don't have any cash on me" excuse.

I was sent to hk for work a few years ago. Company decided to give me a company card rather than per diem into my account. Meant I had to go to all the fancy restaurants and pay triple as the street hawker style places only took cash!

[prktkljokr]

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!

[1970XW351]

Originally Posted by T3rminator

Lol sucker. The good old "I don't have any cash on me" excuse

All good, I just made sure to order extra when their cards were useable... Like at Raffle's Long Bar.

[Itsme]

Originally Posted by T3rminator

100%. Cashless transaction is efficient, but you pay a small fee for it. That goes with anything really, you want speed and efficiency, it doesn't come for free. Imagine if everyone was still rummaging through their paper notes and coins at the checkouts, or at the service station, or when they hopped on a bus or a train.....

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.

Bugger all difference time wise paying by cash or card at the check outs, if any eftpos can be slower, plenty of times there are glitches when your card wont work straight away.
Cash will never be made redundant, you are deluding yourself.

Cheers

[FoxtrotGolfXray 5.0]

Originally Posted by Itsme

Bugger all difference time wise paying by cash or card at the check outs, if any eftpos can be slower, plenty of times there are glitches when your card wont work straight away.
Cash will never be made redundant, you are deluding yourself.

Cheers

Have you seen what happens when you offer cash to a sales person under about 30, and expect them to give you change? It takes an eternity, as their maths skills generally don't allow them to calculate in their head the amount of change needed to be given.

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.

[FairmontGS]

Originally Posted by prktkljokr

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!

Prepper alert...

If the systems are down, why would there be anybody serving "meals", "fuel", etc.?

[Itsme]

Originally Posted by FoxtrotGolfXray 5.0

Have you seen what happens when you offer cash to a sales person under about 30, and expect them to give you change? It takes an eternity, as their maths skills generally don't allow them to calculate in their head the amount of change needed to be given.

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.

I won't argue that one with the calculation, but you would think it would be easier for them as most cashier registers do the math's for them.

Only matter of time when AI takes over and we all will be made redundant.

[prktkljokr]

Originally Posted by FairmontGS

Prepper alert...

If the systems are down, why would there be anybody serving "meals", "fuel", etc.?

image

Ummm no prepping here, in my post it states

when the banks have an "outage"

We are not talking power failures here, just like last week when you could not access your money because the bank was having issues, the shop I was at was still functioning normally, it was the customers that could not pay cashless for items they knew they had money for in the bank.

No need to worry though, I was fine , I even paid for the the milk the lady in front of me had , see this is where Cash is King, no effect to my day.

[Citroënbender]

…Maybe the fellow who makes hinge pin kits for the XB coupés only takes cash? :p

[simon varley]

bigger question - why isn't banking free? in the UK we never paid a penny for normal banking services so was shocked when we came over here in 2006 so find out how expensive it is to bank. There's a charge for everything! I know the cash flow is less because of the lower population, but it still doesn't make sense, especially going back to the original post here - less costs for the banks going cashless, but they still charge us just as much!

<checks under matress for cash>

[/rant]

[T3rminator]

Originally Posted by simon varley

bigger question - why isn't banking free? in the UK we never paid a penny for normal banking services so was shocked when we came over here in 2006 so find out how expensive it is to bank. There's a charge for everything! I know the cash flow is less because of the lower population, but it still doesn't make sense, especially going back to the original post here - less costs for the banks going cashless, but they still charge us just as much!

<checks under matress for cash>

[/rant]

You can get no frills fee free accounts. You also used to have to pay a fee for ATM withdrawals unless you withdrew from your bank's ATM, but they scrapped that a while ago and allowed the major banks to share each other's ATMs. But I've now noticed some "3rd party" ATMs popping up that are charging a fee, unless you withdraw from a bank that they are affiliated with. Basically going back to the old days by stealth.

As for card fees, I think its VISA and Mastercard who are charging the fees, rather than the banks? I think the banks charge the retailers for leasing the EFTPOS machines, which I guess the retailer can pass on to consumers. Have noticed a lot of retailers now asking if you want to "insert" rather than "tap". If you insert the card, select EFTPOS (rather than Visa/mastercard), punch in your PIN, you can avoid the few cents of fees.

EDIT: Yep, its the card issuers that set the base rates. Some retailers will add their own buffer on top, which is sneaky. Not sure what the banks get apart from the equipment leasing fee.

https://www.visa.com.au/about-visa/interchange.html

Oh and to answer your question on why banks can charge fees here......because consumers don't bitch and moan as much as they probably should.

[Itsme]

Originally Posted by simon varley

bigger question - why isn't banking free? in the UK we never paid a penny for normal banking services so was shocked when we came over here in 2006 so find out how expensive it is to bank. There's a charge for everything! I know the cash flow is less because of the lower population, but it still doesn't make sense, especially going back to the original post here - less costs for the banks going cashless, but they still charge us just as much!

<checks under matress for cash>

[/rant]

Now you know why I'm dirty on the banks, some here are too young to know the good old days where you got service and not charged for basic services, now these days the banks screw you in all directions for their increased profit margins at the expense of customers.
Funny thing is the sheeple accept it.

[arm79]

Originally Posted by Itsme

some here are too young to know the good old days where you got service and not charged for basic services

You mean the gold old days when you avoided every second Tuesday and Thursday because the line was around the block with pensioners and dole recipients wanting to deposit their cheque. Which then turned into cashing out their payment once they started to EFT it. Or you had to wait in line for an hour to get $20 out because the only way to do it was in person with your passbook. Or 2 hour wait just to confirm your balance and if that cheque you were sent had cleared.

My father is both a business owner with business accounts and a pensioner. The only time he has stepped inside a bank over the past 10 years is to sign documents after Mum died certifying her death and changes to the accounts they shared via her estate. In the majority of those 10 years he has never paid a cent in banking fees in any of his accounts. If he has cash to deposit its done at an ATM at his convenience or through is AusPost branch.

When Mum was alive, in the preceding 7 to 8 years, she visited a bank maybe 1 or 2 times a year and that was to only deposit cheques.

Have you ever considered that the way things are now is a following of the will of the people. People don't need or want the "good old days" because of how painful and time consuming they are. They have embraced the new technologies and instantaneous electronic services offered because they are simple and efficient for time poor people. And like all good organisation they are following the path of the users.

If people didn't want what we have now, then it wouldn't exist. It would have failed shortly after inception.

Originally Posted by Itsme

Now you know why I'm dirty on the banks, some here are too young to know the good old days where you got service and not charged for basic services, now these days the banks screw you in all directions for their increased profit margins at the expense of customers.
Funny thing is the sheeple accept it.

Because some of us "sheeple" recognise the need for it.

Banks make profits, but they don't keep them. The profits all go to shareholders.

Who are the shareholders??? They are you, me, your work mates, your neighbour, your brother, sister, whatever other family member and their dogs...

How??? Through their/our super funds. Our retirements are heavily invested in shares and dividends from these large corporation you so hate.

People want to retire comfortably with a squillion $$$ in the bank and not just have to rely on the pension. The only way this can be done is with your super fund returning 10% a year for the next 40 years.

As distasteful as it might be, the only way to make this happen is for banks and large corporations to make mega profits, keep the dividend's rolling in and the share prices up. Our retirement wealth is heavily linked to the performance of these companies and WE actually demand they keep on doing as they have been.

Or is that another government conspiracy? Or don't you have a super fund either?

Thats OK... I'll save you the stock reply.

Again, you are falling to the BS of banks, big business and govco, take your blinkers off and see what is really happening.

[Itsme]

Originally Posted by arm79

You mean the gold old days when you avoided every second Tuesday and Thursday because the line was around the block with pensioners and dole recipients wanting to deposit their cheque. Which then turned into cashing out their payment once they started to EFT it. Or you had to wait in line for an hour to get $20 out because the only way to do it was in person with your passbook. Or 2 hour wait just to confirm your balance and if that cheque you were sent had cleared.

My father is both a business owner with business accounts and a pensioner. The only time he has stepped inside a bank over the past 10 years is to sign documents after Mum died certifying her death and changes to the accounts they shared via her estate. In the majority of those 10 years he has never paid a cent in banking fees in any of his accounts. If he has cash to deposit its done at an ATM at his convenience or through is AusPost branch.

When Mum was alive, in the preceding 7 to 8 years, she visited a bank maybe 1 or 2 times a year and that was to only deposit cheques.

Have you ever considered that the way things are now is a following of the will of the people. People don't need or want the "good old days" because of how painful and time consuming they are. They have embraced the new technologies and instantaneous electronic services offered because they are simple and efficient for time poor people. And like all good organisation they are following the path of the users.

If people didn't want what we have now, then it wouldn't exist. It would have failed shortly after inception.



Because some of us "sheeple" recognise the need for it.

Banks make profits, but they don't keep them. The profits all go to shareholders.

Who are the shareholders??? They are you, me, your work mates, your neighbour, your brother, sister, whatever other family member and their dogs...

How??? Through their/our super funds. Our retirements are heavily invested in shares and dividends from these large corporation you so hate.

People want to retire comfortably with a squillion $$$ in the bank and not just have to rely on the pension. The only way this can be done is with your super fund returning 10% a year for the next 40 years.

As distasteful as it might be, the only way to make this happen is for banks and large corporations to make mega profits, keep the dividend's rolling in and the share prices up. Our retirement wealth is heavily linked to the performance of these companies and WE actually demand they keep on doing as they have been.

Or is that another government conspiracy? Or don't you have a super fund either?

Thats OK... I'll save you the stock reply.

Keep swallowing the BS
Cheers

[arm79]

Originally Posted by Itsme

Keep swallowing the BS
Cheers

As I thought.

P.S. It would be nice of you to confirm or deny if you are a super fund holder who exponentially growing wealth off the back of thes mega profits from the banks and corporations you dislike?

[XR Martin]

There was some benefit to waiting ages in line at the bank, 30+ years ago I met Ricky Stuart and Craig Bellamey at the Commonwealth Bank and got their autograph. Quite a treat for a 10 yo Raiders fan.
But yes, I do remember waiting an eternity in line with mum and dad, sitting around drawing on the withdrawal slips.

[arm79]

Originally Posted by XR Martin

There was some benefit to waiting ages in line at the bank, 30+ years ago I met Ricky Stuart and Craig Bellamey at the Commonwealth Bank and got their autograph. Quite a treat for a 10 yo Raiders fan.
But yes, I do remember waiting an eternity in line with mum and dad, sitting around drawing on the withdrawal slips.

Hahaha... Yes, I suppose you could say that. As a kid I did meet Merv Hughes back in his heyday in a bank. Memory tells me it was the old high rise Commonwealth HQ on the corner of Collins and Elizabeth St in Melbourne.

I dare say the biggest savings in bank history were attributed to preventing kids from drawing on those deposit and withdrawal slips. How much wasted paper and printing they mist have gone through.

[roKWiz]

Originally Posted by arm79

How much wasted paper and printing they mist have gone through.

Interesting when staying in the CBD of any large city.
If only you could see the size of the Darling Park complex and their Darling Harbour complex of the Commonwealth Bank in $ydney, the amount of lights, computers and printers staffed 24/7, across the street from my old man's apartment.

Let alone the other big 3 down the road and probably use more paper than ever.

Wasted paper will be of no concern to them, as, no doubt they'll all be claiming to be carbon neutral. !

[FoxtrotGolfXray 5.0]

Seems as though cash is making a comeback. How does the saying go? "What once was old is new again."

https://www.abc.net.au/news/2023-08-...-730/102599352

[cs123]

Originally Posted by FoxtrotGolfXray 5.0

Seems as though cash is making a comeback. How does the saying go? "What once was old is new again."

https://www.abc.net.au/news/2023-08-...-730/102599352

Just like using paper bags for groceries and veg gardens in the back yard. Amazing!

[Citroënbender]

Next will be allowing kids to walk to school.

[Itsme]

Originally Posted by FoxtrotGolfXray 5.0

Seems as though cash is making a comeback. How does the saying go? "What once was old is new again."

https://www.abc.net.au/news/2023-08-...-730/102599352

How many envelopes or sleeves you now got?

[FoxtrotGolfXray 5.0]

Well, most of my tops have sleeves....

[T3rminator]

https://www.facebook.com/reel/125141...ibextid=3v1LA4

Brought to you by the bloke who was "guessing" the covid numbers before they were published

The last time I actually withdrew money from a teller was overseas, would have been back around 2009, and yep they asked why I needed "so much" cash and what I was using it for.

[Tonz]

Originally Posted by Itsme

How many envelopes or sleeves you now got?

mattresses

[five 7]

Originally Posted by FairmontGS

Prepper alert...

If the systems are down, why would there be anybody serving "meals", "fuel", etc.?

image

Cyclone Gabrielle (nz) recently proved cash is king, there were areas with no access to any electronic banking service for a chunk of time. Power out and cell towers out of service.There was mad max scenarios in certain areas, dog eat dog. The weak were preyed on.