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 Replies: 26 / Views: 5,297 |
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Pillar of the Community
United States
992 Posts |
People who like the idea of a cashless marketplace change their minds pretty quickly once the card reader is down or the power is out.
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Pillar of the Community
Australia
908 Posts |
I've read a lot of stories about how Australia should follow India's lead in scrapping it's 2 highest denomination notes.The fact is that India is replacing these with new notes so it's no comparison to Australia removing the $100 note altogether.They are 2 totally different scenarios but if Australia did replace the $100 note with a new version it would still be a kick in the teeth for many black marketeers and hoarders
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Moderator
 United States
189053 Posts |
Quote:
People who like the idea of a cashless marketplace change their minds pretty quickly once the card reader is down or the power is out. The same power that keeps the POS terminal (cash register for you old timers) running and allows the cash drawer to open?  If the power is out the venue is probably going to be closed anyway. I am surly not going to be there.  |
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Pillar of the Community
Australia
7096 Posts |
There are quite a few remote service stations and Minesites in Aus that still have weak or intermittent telephone service and the card readers are often Down. Cash Is King in these circumstances |
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Pillar of the Community
Germany
992 Posts |
On New Year's Day, card readers did not work in the entire country of Austria for several hours. There was no power outage. There was a technical problem with the card readers in the entire country. Payments at gas stations, restaurants, ectr. possible with cash only.
Edited by redlock
01/04/2017 04:42 am
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Pillar of the Community
Australia
852 Posts |
Several times in the past month or so in a pub that I work part time in they have not been able to take cards at the bar or bistro when the scanners fail (cash only then). The in-pub ATM still worked though.
Cards can also fail for any number of reasons and plenty of times I've seen shoppers with a cart full of groceries trying to work out how to pay when the card is declined.
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Pillar of the Community
Australia
7096 Posts |
Whenever I travel I always make sure that I have a few hundred in cash, just in case I can't use my card. It has got me out of trouble many a time  |
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Valued Member
Australia
185 Posts |
It's always important to have some cash with you, as we all agree. because cash doesn't leave any "footprints ". From the 24th November 2016, it is alleged, Citibank announced it will not be handling notes or coins. Some of the refurbished CBA banks, where previously they had the coin counting machines which gave you a printout indicating the $ value of the coins counted and you collected the cash from the teller : now they still have a coin counting machine but you have to put all the $ value straight into an account - savings, credit card,etc, - before you can access any of the $'s. Hardly any tellers, either, just more " footprint " seeking Big Brother technology ......what colour socks are you wearing, today?
Incidently, Venezuela is, amongst many other countries, removing their 100 bolivar banknotes and replacing them with new banknotes. There appears to be a very unusual " in unison " banknote changing happening throughout the world.
Maybe cash is on the way out much quicker than what we'd like or realise.
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Pillar of the Community
United States
4883 Posts |
Quote:
Incidently, Venezuela is, amongst many other countries, removing their 100 bolivar banknotes and replacing them with new banknotes. There appears to be a very unusual " in unison " banknote changing happening throughout the world. Actually a very different scenario in Venezuela, however. That 100 Bolivar note has devalued to only abot 2˘ US in actual buying power, so it's supposed to be replaced with a coin, and much larger denomination bills will then be issued. Colligo ergo sum
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Pillar of the Community
Australia
3831 Posts |
Sometimes it makes you wonder what direction people want things to go.
Yes cards are convenient and I wouldn't disagree on it. Yet it's usually the business that take the bank surcharge which is easily 2-3%. Sure it's not that big if it's 10 dollars but wait till it's 100 dollars, 1000 dollars etc. Adds up really quickly if you run a business.
I used to have a habit to attempt to use cash where possible - that way I get to see various banknotes and coins. These days - it's on and off. I do dump a fair bit of coins at self check from time to time.
But this topic does beg a big question - when was the last time you used a 100 dollar note? It's not a note that comes out from an ATM unless you walk into a bank and ask for it or from a money exchange teller. OR some shady route which I'll leave it at that.
My partial coin collection http://www.omnicoin.com/collection/gxseriesMy numismatics articles and collection: http://www.gxseries.com/numis/numis_index.htmRegularly updated at least once a month. |
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Formerly nancyc
Australia
5385 Posts |
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I hardly use it as it would cost me too much for every "foreign currency transaction fee" Why not have a look at this card, 28°Mastercard. I've had one since Jun 2014 and have never paid for any fees. Card balance is always paid in full prior to due date. 28°Mastercard Platinum Card Without Excess Baggage No annual fee No currency conversion fees No overseas fees on purchases No foreign transaction fees Only used for O'seas purchases and it has worked out great! life is a mystery to be lived not a problem to be solved
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Pillar of the Community
Australia
852 Posts |
Nancy, your card might not have a currency conversion fee but it might have a big spread on the currency conversion rate.
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Formerly nancyc
Australia
5385 Posts |
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might have a big spread on the currency conversion rate. My son keeps an eye on that for me and so far there hasn't been an instance where using the card would be too costly. life is a mystery to be lived not a problem to be solved
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Pillar of the Community
Australia
762 Posts |
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when was the last time you used a 100 dollar note? It's not a note that comes out from an ATM unless you walk into a bank and ask for it or from a money exchange teller. OR some shady route which I'll leave it at that. Actually they do have some ATMs now that dispense $50 and $100 notes so it is possible to get them from ATMs. |
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New Member
Australia
11 Posts |
Adelaide Casino ATM's pump out $100 notes.
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Replies: 26 / Views: 5,297 |
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First Page
Posted 01/02/2017 7:09 pm
