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 Replies: 53 / Views: 5,802 |
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Pillar of the Community
Canada
1554 Posts |
 Some who are into illegal activity require high denomination bill$ to keep money untraceable/hidden/laundered, however, most of us don't. So why does Canada produce $50.00, and $100.00 bills? In this modern day of paying via debit/credit cards, Paypal, cell phone, etc. it makes no sense for Canada to produce bills larger than a $20.00 denomination. This is my view on it, please,let me know yours! Glenn  Edited by glenzy1
07/18/2012 4:57 pm
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Valued Member
291 Posts |
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Pillar of the Community
Canada
834 Posts |
I'm fairly young (mid 20's) I do have a credit card and debit card. I have used my debit card never and my credit card three times in 2012 each time to book a vacation. I am a firm believer in cash is king and typically carry $2,000 Plus on any given day. The benefits of carrying cash far outweigh the benefits of a credit card in todays society. Other than big chains and big box stores most mom and pop or independent businesses would rather deal in cash and will usually cut the tax out or cut you a better deal than using your debit or cc. Look at all your trade workers you can get your plumbing, electrical, heating and cooling, landscaping all done considerably cheaper by paying in cash.
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Pillar of the Community
Canada
933 Posts |
carry $2000 on you? thats a lot of cash to just walk around with. For me, cash is dead. I only use my credit card. Even for buying things like coffee and small items, always credit card. I get the points and pay it off online before the interest comes in.
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New Member
Canada
43 Posts |
I have Debit and Credit Cards and use paypal, but in day to day transactions I would prefer to use Cash. I often carry a few 20's in my wallet for regular expenses.
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Valued Member
Canada
183 Posts |
I would like a $1ooo.oo bill or maybe a $5000 bill come back,because what can you buy for $100.00,with the prices of things on the rise your $$$$$ doesnot have the buying power. Cash is still king when buying big ticket items.
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Pillar of the Community
Canada
834 Posts |
Royal silver,
$2000 isn't that much thats usually on the low side for me, you never know when a deal will come up. I have a few friends who own pawn shops, one owns a coin shop they get something in they call and I'm there with the cash to purchase. I live in a fairly safe area of Ontario plus I doubt anyone would try to rob me. I just don't understand how anyone could use a debit or credit card for such small items most stores I walk into charge a fee for items under $10 I see it as you save money using cash
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Valued Member
Canada
142 Posts |
If you are young and go out to dance and watch shows, cash is an absolute must. You simply cannot party without cash.
Also debit/credit machines go down all the time.
I would love to move to cashless though. With my phone I can beam money to people just by placing our phones together. When this takes off more it will be great. (Yes, I keep NFC off when not doing that.)
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Pillar of the Community
Germany
1064 Posts |
I live in China and the largest note is a 100RMB note, about US$15 or £10, and it is really annoying when you have to take cash with you to not have bigger notes. Imagine if you want to pay 2000RMB for something in cash, it's a wad of cash.
If I travel I might want to take out a certain amount of money once, rather than get charged fee after fee from the banks for taking out small notes.
Things like this you realise how good the big notes are.
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Valued Member
Canada
386 Posts |
I prefer carrying less than $100 in cash and using credit cards for the bulk of my purchases.
If cash is lost or stolen, you have no recourse. With credit cards you are protected against theft and fraudlent use as well as getting the benefit of reward points. Since I pay my credit card debts by the due date, the banks are essentially giving me an interest-free loan for 30 to 45 days.
I agree that some scenarios are cash only like fleamarkets and most coin shows.
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Valued Member
Canada
178 Posts |
You can't get rid of the $20 bill. It is the workhorse of Canadian cash. All ATMs dispense it, most only dispense $20s. I use my credit card for most purchases, but always like to have some cash on hand for small purchases.
I don't often cross paths with $50s and especially $100s since most ATMs don't dispense them. I don't see any reason to change the existing denominations. If anything you'd replace the $5 note with a coin, but I don't think we're there yet.
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Valued Member
Canada
306 Posts |
I still use cash for most of my purchases. At the store I work at, many of our customers also still choose to pay with cash. For me and others who still use cash, it would be a huge inconvenience to have to pay with only small bills.
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Valued Member
Canada
62 Posts |
I'm dropping credit cards and debit cards because of the "PIN" and I don't want to stand around all day while the teller counts out tens. I only wish they still made thousands.
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Valued Member
291 Posts |
Quote:
I am a firm believer in cash is king and typically carry $2,000 Plus on any given day. That's quite a roll to be carrying around, even if you do live in a "safe" area. I usually carry around between $100-$200. If I go to a coin show,, where cash is the rule, I'll carry more. I pay tradesmen off in cash if they will give me a discount (almost all will), otherwise I'll charge it and get the points.      |
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Valued Member
Canada
457 Posts |
All my day to day spending, both personal and business is on account or credit.
The only time I seem to use cash is at the summer fair or exhibition or for cover charge when I go to the bar and I tend to use cash when I'm on vacation , always buying crap for my wife & kids.
5,10 & 20's always fit the bill :-) for me.
The more I think about it ...... if I paid cash for it, its not something
I needed :-(
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Pillar of the Community
Canada
1472 Posts |
I expect to see lots of cash trading hands this weekend in Calgary at the RCNA Convention. VERY little card or cheques action. |
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Replies: 53 / Views: 5,802 |
Posted 07/18/2012 09:51 am
