by 1914BS 27 Replies latest watchtower beliefs
I never use a debit card because I don't want to pay all the service charges. $1.50 Interac fee plus $1.00 bank service charge for each transaction can really add up. The money I save in service charges pays my phone bill each month and buys one week of groceries.
I make one good sized cash withdrawl each month from my bank and it works just fine.
W
I wonder if the policies at the gas pumps are designed to thwart those gas-and-dash thefts. People will fill up and then drive off without paying. If you pay with a credit card at the pump and try that, your account will still be debited (or you will be charged) that amount.
Here is another take on the "cashless society" - The end of money? If that link doesn't work try this one.
Dave
Yes, the credit card companies want to do away with plastic because identity theft is costing them billions each year. Cash is still king, but always difficult to work with. Noone carries alot of cash with them these days. Credit card fraud and identity theft is a huge problem.
RFID chips are unsecure at this time. I'm sure the research and development teams are working to close any security problems with RFID before implementing them into the society for our financial and medical needs. The technology is available, so it's just a matter of time.
A guy I work with is obsessed with debit cards and paying everything without cash he will even pay £1 in a store on a debit card, and also here in London on all Public Transport almost everyone pays now on an Oyster Card and Barclays Bank has introduced a Oyster/Debit/Credit Card, but with a world wide recession/credit crunch looming I always say that cash becomes more popular again, can you imagine Drugs Traffickers/Loan Sharks/Money Launderers/Terrorist's paying for goods and services by Debit Card? No cash is here to stay for a long time yet
I am just plain broke... is that "cashless"?
Hill
The reason for pushing people to pay at the pump is not all the sinister:
Just like with ATMs at the bank, self service aisles at the grovery store - the elimination of PEOPLE in business transactions. It is more expensive to have a human transact business than to have the customer self-serve.
The trend is everywhere, but not really suspicious. It's about business cost reduction.
Once that is the norm at the gas pump, expect a similar trend from ATM machines - charge the customer for the use of the machine. This changes what once was a business expanse (paying a clark to process your transaction), and then a no-cost transaction (well, the bank still charges the businee a transaction fee, but it's minor), to a revenue stream (like ATM fees).
And, yes Vurginia, the ATM was initially built to create a new revenue stream for banks. Charging ATM fees was always the plan, and the business analysis Issue Statement was not, "How do we make things easier?" but rather, "How can we generate more money?" The answer: find a way to charge the customer for each transaction, and the mechanism was the ATM.
I use a credit card (which is paid in full every month) for most day to day purchases. It's just a convenience thing for me. I don't want to carry around much cash. There are no extra fees for using a credit card or debit card for most transactions. I use the credit card because I get points or cash back. Of course the merchant is paying the fees, so many places still balk if you want to buy something for less than $5 with a card. I carry a little cash for those situations. I also pay most of my bills on line. I only write checks for rent now.
I think we are very close, and on some levels I feel like it is more about control. It is hard to trace people through money, but very easy to trace people through use of your credit card, debit card, etc.
I did an experiment one month where I tried to see if I could live completely without using any cash (paper or coin) and I could, it wasn't even that difficult.
It is only a matter of time...
I thought this thread was about the man in black
lisa
