Cashless society ( pros and cons)

[ReganAndCarter]

If you lose your cash someone can go on a spree until it's gone.

I don't regularly walk around with several thousand in my pocket, maybe £20 or £40. So the potential losses of someone having access to my bank account via a contactless card are much greater.

 

[Ihavenojob]

My wife lost our card. I didn't cancel it as the person who had it was spending less than her.

 

[Harry Bloomfield]

Plus you get nothing for your savings, encouraging you to spend those too.

Only whilst interest rates are so depressed, are returns so poor. I'm not getting much, but it is better than nothing and is on the rise again recently.

 

[Ihavenojob]

Only whilst interest rates are so depressed, are returns so poor. I'm not getting much, but it is better than nothing and is on the rise again recently.

I'd rather the rates stay low, although I won't be getting hardly any interest, it would be far worse for the economy if rates were to rise rapidly, many would lose their houses, and the banks will be laughing (all the way to the bank).

 

[ellal]

Yep. You normally find it’s those anons that do have something to hide that have something to worry about and will argue against it.

Of course benefit scrounging spivs have nothing to hide?

 

[Mottie]

Of course benefit scrounging spivs have nothing to hide?

I’m sure they must have but I doubt it would be the ones who let others know what help from this wonderful government they are getting.

 

[JohnD]

Only whilst interest rates are so depressed, are returns so poor. I'm not getting much, but it is better than nothing and is on the rise again recently.

Keeping a wedge of money in the bank is a sure way to become poorer.

Interest rates do not keep pace with inflation.

 

[Ihavenojob]

Keeping a wedge of money in the bank is a sure way to become poorer.

Interest rates do not keep pace with inflation.

Stock up with tinned goods and pasta.

 

[AngleEyes]

I hear there's a looming shortage of tinned goods and pasta.

 

[Ihavenojob]

I hear there's a looming shortage of tinned goods and pasta.

No shortage. I am going to be like Christopher Walkens character in Blast from the past.

 

[noseall]

I don't regularly walk around with several thousand in my pocket, maybe £20 or £40. So the potential losses of someone having access to my bank account via a contactless card are much greater.

As you said - you can cancel a card and get a refund if suspicious activity is detected.
Good luck if you lose your wad if cash.

 

[AngleEyes]

Contactless cards have a limit on the value of allowable transactions, and they can only be used to buy something, so any attempt to 'empty' the account via contactless transactions will be similarly limited.
And a thief would end up with a lot of cheap bags, shoes, groceries, and other low value items, and from multiple outlets.

 

[Mottie]

Contactless cards have a limit on the value of allowable transactions, and they can only be used to buy something, so any attempt to 'empty' the account via contactless transactions will be similarly limited.
And a thief would end up with a lot of cheap bags, shoes, groceries, and other low value items, and from multiple outlets.

Contactless limit is going up to. £100 from next week in this country in case you didn’t know. What's the limit in your country?

 

[AngleEyes]

Contactless limit is going up to. £100 from next week in this country in case you didn’t know. What's the limit in your country?

80,883.0 AOA.
Plonker.

 

[gas112]

Much easier to keep track of your spend, using a card - every penny you spend is recorded in your statement. Every penny I spend, I instantly get a text message to say how much and where I spent it.

as i pointed out earlier because you do doesnt mean others do .