Before we go cashless, fees need to be 0%. Start by fixing that.
We need to use EFTPOS instead of visa and MasterCard.
0% for banking and spending your own money.
Businesses should just factor merchant fees into sticker price much the same way they would (should?) be factoring in the cost of carrying cash, as consumers we wouldn’t even notice. And yes, cash does have a cost (time taken traveling to/from the bank or ATM, risk of loss or theft on the way etc).
Don’t pay bank account fees as an individual, please… there are so many ways to get free banking.
It’s not free to run a payments network. So who should pay for it? Tax payer funded?
Two options:
Don’t go cashless.
Go cashless but fees = $0.
Idgaf how it works, but it’s asinine to have a $4 a month account keeping fee and pay per transaction to store and spend your own money. If it gets any worse I’ll be pulling all my cash out and going cash only for everything.
You have to be able to have a backup. Right now if you lose your bank cards, your bank might not even have a face to face branch to get cash from, and it might take 2 weeks in the post. It’s also harder for older people to keep up with the technology changes, also for people who don’t have access to the internet (or internet banking).
It’s great for a lot of us (I haven’t used cash in about 2 years I reckon), but I am worried people will be left behind if there’s no other payment system in place.
We can skip cashless and and jump straight to moneyless with the current economy /s
This sounds petty but I like talking illicit substances on occasion. Generally, these are only paid for in cash, I know some people take bank transfers but I don’t want a paper trail leading in either direction.
