General > General Technical Chat
Cashless Australia
TMM:
--- Quote from: coppercone2 on March 17, 2021, 04:47:52 am ---Cash does not pose a health threat, so long you have.. change. If you pay exact you will never receive anything back. Contactless and secure, no need to touch a keypad. The clerk is there all day so he has gloves. And you can always tell them to keep the change if your wealthy.
This is all because people want things to be flat. The bank should sterilize it for you.
A health threat is your bank account going down because you used a credit card for a 5$ transaction in a store and it got stolen.
Constantly being vigilant about a bank account because you can't keep track of how many places your working with is stressful (like checking another email account, guess what, its proven unhealthy), and it makes investigations difficult in finding where the theft is occurring because there are so many possibilities. The app is stressful too, because you need to manage it, and they can get hacked too.
--- End quote ---
This is 10-20 year old outdated thinking in a near-cashless society like Australia. No one wants to carry around stacks of coins. If you pay with card then you don't need to worry about giving or receiving change when an item is $9.95, and when the transaction is <$100 you don't need to enter a pin or touch anything. When people give me cash it is like "what the hell am I going to do with THIS?" Most places don't charge for using Visa/Mastercard CC, and the ones that do don't charge for EFTPOS (transaction from a savings account). When businesses don't accept any type of card it's like "what the hell kind of shonky operation is this?"
I used to put all my coins in the ashtray in my car so I could use them to pay for parking, but now almost all carparks use contactless card for payment, so that isn't required any more either.
Have not had my bank account app 'hacked' and I have been with 4 different banks in the last 10+ years of using online banking. Have had 2 cards 'stolen' in that time, and speaking with other people this seems to be on a rise. One card was used on an overseas holiday 2 years prior so I guess it is plausible it was swiped then, the other had no chance of being stolen as it was a debit card I never use in person and only use online via paypal so I would guess it was 'stolen' by someone attempting to put through transactions on random card numbers. I could count the number of times I used those cards to withdrawn cash at an ATM on one hand, and I'm vigilant with checking for card hijackers installed on the atm card slot.
Being out of pocket when your card is stolen is unheard of in Australia. In both cases the bank automatically detected the suspicious transaction, investigated/absorbed the costs of the transaction themselves and sent me a new card in the post. Merely an inconvenience for me. Just used the other card (debit or CC) in the meantime.
Prior to the pandemic I think it was mostly only boomers and older people who primarily used cash and did banking in person at the branch. The pandemic has encouraged banks to push those customers to online banking (since their brick and mortar branches closed during lockdown) and businesses have pushed people to use card instead of cash.
Simon:
Things are indeed different. My card has been "done" 3 times and I never lost a penny. I now have a credit card for online payments or when buying somewhere I don't trust like a petrol station on a major road which is what coincided with 2 if not all 3 instances.
As for it being too easy to spend money on a card versus cash I don't buy this argument either. it's just a matter of understanding and thinking about your actions. With banking apps on phones there is no excuse for not being able to keep track of your money. I don't even do banking on my PC, I just use my phone. My father refuses to do internet banking because he does not understand the internet and how these systems work and seems to think that everyone can see what you do online, the reason for passwords is apparently lost on him.
EEVblog:
--- Quote from: TMM on March 17, 2021, 05:16:15 am ---Prior to the pandemic I think it was mostly only boomers and older people who primarily used cash and did banking in person at the branch. The pandemic has encouraged banks to push those customers to online banking (since their brick and mortar branches closed during lockdown) and businesses have pushed people to use card instead of cash.
--- End quote ---
I guess I'm an old boomer.
I always carry cash, even in my new slimline wallet I've reviewed.
And extra if I'm going on holiday, enough to get me home if the system collapses.
Not having some cash outside the system is just dumb. I'd recommend at least have enough to get you by for a couple of weeks.
Also extremely handy to have on hand for paying contractors.
Halcyon:
You old fart Dave. ;-)
cdev:
Agreed, that is exactly what I do. Old habits die hard.
--- Quote from: EEVblog on March 17, 2021, 12:45:47 pm ---
--- Quote from: TMM on March 17, 2021, 05:16:15 am ---Prior to the pandemic I think it was mostly only boomers and older people who primarily used cash and did banking in person at the branch. The pandemic has encouraged banks to push those customers to online banking (since their brick and mortar branches closed during lockdown) and businesses have pushed people to use card instead of cash.
--- End quote ---
I guess I'm an old boomer.
I always carry cash, even in my new slimline wallet I've reviewed.
And extra if I'm going on holiday, enough to get me home if the system collapses.
Not having some cash outside the system is just dumb. I'd recommend at least have enough to get you by for a couple of weeks.
Also extremely handy to have on hand for paying contractors.
--- End quote ---
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