Now you can't get your money out the bank.

Started by Raven, August 14, 2025, 02:56:56 PM

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Scrumpy


There will always be cash while we have pensioners...
The next generation of (pensioners) will know how to cope without cash..
Don't ask me.. I know nuffink..

klondike

Quote from: Ashy on August 15, 2025, 01:30:12 PMcash is a natural phenomenon (well coins are) and if the king doesn't make it, someone else will, guaranteed.

They already do. Bitcoin and the like but it is rather dodgy I think. There is gold but that's high denomination. It could eventually go back to barter I suppose.

Dextrous63

Money is a way of exchanging numbers.  If numbers are kept in computers then that is beneficial and quicker to deal with (unless of course the computers don't break down and systems aren't hacked).  Cash transactions allow for untraceable exchanges to take place.

Pros and cons.

klondike

Barter is inconvenient but untaxable. Cash is to a large degree untaxable too. 

Salaries are taxable and as they are through PAYE unavoidable. Some payments can be outside of PAYE and so can avoid a lot of (sometimes all) tax. The richer you are the less your pocket gets picked.

Michael Rolls

Quote from: Dextrous63 on August 15, 2025, 05:29:17 PMMoney is a way of exchanging numbers.  If numbers are kept in computers then that is beneficial and quicker to deal with (unless of course the computers don't break down and systems aren't hacked).  Cash transactions allow for untraceable exchanges to take place.

Pros and cons.
A couple of years back TSB had computer problems. For three weeks I had no access to my money. Thankfully, TSB weren't my chief bank - and I have since dropped them
Thank you for the days, the days you gave me
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Dextrous63

Quote from: Michael Rolls on August 16, 2025, 11:52:32 AMA couple of years back TSB had computer problems. For three weeks I had no access to my money. Thankfully, TSB weren't my chief bank - and I have since dropped them
I remember hearing about that (or similar) Three weeks is way too long.  IIRC, some people got into all sorts of difficulty due to bills and mortgages being paid late as well as some having to borrow food and cash from neighbours just to get by.

Raven

I don't care what anyone says but, cash is king. Especially in this tech world, where systems crash and cash doesn't.  :upvote: