Happier diner Posted January 21, 2023 Share Posted January 21, 2023 (edited) 54 minutes ago, mad_manx said: Agree.. I don't see a reason for any more than that. I keep a few pound coins and maybe a fiver or a tenner so that the small independents don't get shafted with card transaction fees if I pay with a card/ phone for small transactions. I haven't tried it in the IOM but most larger stores in the UK will give cashback at the till if you need cash ( don't even need a card and can even do it contactiess / Google pay ) Stores can get rid of cash and you don't need to go to the cash machine .. Has anyone tried this in the IOM ? In the UK M&S and Tesco definitely do it..I don't know if the IOM branches do this. Might be helpful for those who want access to some cash if cash machines are not available nearby. I don't think even the small independents get shafted for each transaction anymore. That's why they have removed the minimum amounts. Could be wrong admittedly. But I have a feeling I read it that the fee for contacted was removed during covid and stayed off. Google says 0.2% Edited January 21, 2023 by Happier diner Quote Link to comment Share on other sites More sharing options...
mad_manx Posted January 21, 2023 Share Posted January 21, 2023 9 minutes ago, Happier diner said: I don't think even the small independents get shafted for each transaction anymore. That's why they have removed the minimum amounts. Could be wrong admittedly. But I have a feeling I read it that the fee for contacted was removed during covid and stayed off. Google says 0.2% The small ones ( like the pop up arts and crafts etc ) use the Sum up machines which charge much more. Around 1.7% fees . Quote Link to comment Share on other sites More sharing options...
offshoremanxman Posted January 21, 2023 Share Posted January 21, 2023 10 hours ago, Cinderella said: Just back from Sweden and Norway. I took no kroner with me (very weird travelling cashless). Only needed it twice (a coin for a locker, and a local bus). Only actual cash used on trip was a euro note for walking tour in Stockholm where the guide still liked the cash economy (no surprise). Was interesting insight into what is coming fast everywhere. I can beat that I did a similar trip and spend absolutely zero cash for 10 days. All on a pre loaded multi currency card. Never had to use a note or a coin. 1 Quote Link to comment Share on other sites More sharing options...
Cinderella Posted January 21, 2023 Share Posted January 21, 2023 3 minutes ago, offshoremanxman said: I can beat that I did a similar trip and spend absolutely zero cash for 10 days. All on a pre loaded multi currency card. Never had to use a note or a coin. I didn’t use any cash (note or coin). There were only two points at which I ‘needed’ to but I avoided them. It was an interesting insight into the near future for us all. 1 Quote Link to comment Share on other sites More sharing options...
offshoremanxman Posted January 21, 2023 Share Posted January 21, 2023 4 minutes ago, Cinderella said: I didn’t use any cash (note or coin). There were only two points at which I ‘needed’ to but I avoided them. It was an interesting insight into the near future for us all. It’s the buskers etc that get me. In Europe they’ve all got either a web address on display that you can go to to pay or a sum up machine. It seems that even they’ve had to learn how to survive in a cashless society. It’s very sad though when you can’t even give someone a few quid as a charitable gesture without it being a right faff. Quote Link to comment Share on other sites More sharing options...
Cinderella Posted January 21, 2023 Share Posted January 21, 2023 4 minutes ago, offshoremanxman said: It’s the buskers etc that get me. In Europe they’ve all got either a web address on display that you can go to to pay or a sum up machine. It seems that even they’ve had to learn how to survive in a cashless society. It’s very sad though when you can’t even give someone a few quid as a charitable gesture without it being a right faff. Agreed. I went to a jazz night, and whilst the drinks were pricey, I would have also put some cash in the jar for the players - but no cash. 1 Quote Link to comment Share on other sites More sharing options...
offshoremanxman Posted January 21, 2023 Share Posted January 21, 2023 9 minutes ago, Cinderella said: Agreed. I went to a jazz night, and whilst the drinks were pricey, I would have also put some cash in the jar for the players - but no cash. Yes it’s sad. Covid has certainly killed the black economy and tax take must be massively up with almost everything going through the system. They’ve even done away with the 5% VAT on building work etc as I’d guess that after covid all the money is now going through the books to keep the VAT and tax records up to date just in case they ever need state support again so it’s time to grab that VAT back. Long term though there won’t even be any easily available sources of cash and it makes you wonder how charities and others will actually provide for people who fall through the cracks? Also now even if you tip a waiter it’s by card so they’ll ultimately pay tax on it. No nice gestures. 2 Quote Link to comment Share on other sites More sharing options...
woolley Posted January 21, 2023 Share Posted January 21, 2023 (edited) 10 hours ago, Gizo said: Imagine wanting a cashless system. Idiots. It's just too convenient to use a credit card for everything and pay it off once a month. Gives you a list of everything you spent going back years, and can be managed with a few keystrokes a month. Then the banking app will do whatever you want electronically, even to the extent of depositing a cheque. All far too easy to bother with cash. I appreciate that I am creating a data trail of everything I spend money on and everywhere I go, but I really couldn't give a toss about that. I won't physically pay with my phone though. Don't like the idea of that at all. I've worked with computers for virtually my whole career but I hark back to an analogue generation in my youth. Like others who have commented I do have very mixed feelings about all of this and I harbour guilt over indulging my laziness. We do make one concession to codgerish caution in our house. We keep a bundle of notes in a tin as a contingency for the day when we all wake up and there's been a solar flare or something more prosaic like a cyber attack on the UK and bugger all works electronically. I appreciate we'll have bigger problems when that happens, but it does afford a little comfort to think you could actually walk down the road and buy something from an independent shopkeeper who can still practice the ancient art of reckoning up. The most puzzling thing about this situation is who is using all the cash? You might think it's very much in decline from comments like we have here but there is more in circulation than ever. Since 2014 growth in cash is 3 times the rate of inflation. https://www.statista.com/statistics/319453/uk-banking-notes-and-coin/ Edited January 21, 2023 by woolley 2 Quote Link to comment Share on other sites More sharing options...
finlo Posted January 21, 2023 Author Share Posted January 21, 2023 7 minutes ago, woolley said: It's just too convenient to use a credit card for everything and pay it off once a month. Gives you a list of everything you spent going back years, and can be managed with a few keystrokes a month. Then the banking app will do whatever you want electronically, even to the extent of depositing a cheque. All far too easy to bother with cash. I appreciate that I am creating a data trail of everything I spend money on and everywhere I go, but I really couldn't give a toss about that. I won't physically pay with my phone though. Don't like the idea of that at all. I've worked with computers for virtually my whole career but I hark back to an analogue generation in my youth. Like others who have commented I do have very mixed feelings about all of this and I harbour guilt over indulging my laziness. We do make one concession to codgerish caution in our house. We keep a bundle of notes in a tin as a contingency for the day when we all wake up and there's been a solar flare or something more prosaic like a cyber attack on the UK and bugger all works electronically. I appreciate we'll have bigger problems when that happens, but it does afford a little comfort to think you could actually walk down the road and buy something from an independent shopkeeper who can still practice the ancient art of reckoning up. The most puzzling thing about this situation is who is using all the cash? You might think it's very much in decline from comments like we have here but there is more in circulation than ever. Since 2014 growth in cash is 3 times the rate of inflation. https://www.statista.com/statistics/319453/uk-banking-notes-and-coin/ Laundry's! 1 Quote Link to comment Share on other sites More sharing options...
Meoir Shee Posted January 21, 2023 Share Posted January 21, 2023 7 minutes ago, woolley said: The most puzzling thing about this situation is who is using all the cash? You might think it's very much in decline from comments like we have here but there is more in circulation than ever. Since 2014 growth in cash is 3 times the rate of inflation. https://www.statista.com/statistics/319453/uk-banking-notes-and-coin/ My understanding is that it is a bit of a paradox, there is indeed more cash out there, but less is being used for transactions. Since Covid there has been a tendency for households to keep hold of a bit more ready cash as a safety net. There are also far more self employed people who may keep hold of and/or get paid in cash. Quote Link to comment Share on other sites More sharing options...
genericUserName Posted January 21, 2023 Share Posted January 21, 2023 40 minutes ago, offshoremanxman said: Yes it’s sad. Covid has certainly killed the black economy It would be great to see cash phased out completely. The IOM govt should implement a no-cash rule in shops, catering etc. The amount which goes undeclared during TT week is likely significant. Which is an issue given that the tax-payer basically funds this + all of the associated costs, road works, emergency services, working days lost etc etc 2 Quote Link to comment Share on other sites More sharing options...
finlo Posted January 21, 2023 Author Share Posted January 21, 2023 5 minutes ago, genericUserName said: It would be great to see cash phased out completely. The IOM govt should implement a no-cash rule in shops, catering etc. The amount which goes undeclared during TT week is likely significant. Which is an issue given that the tax-payer basically funds this + all of the associated costs, road works, emergency services, working days lost etc etc And gift them even more to squander! 3 Quote Link to comment Share on other sites More sharing options...
woolley Posted January 21, 2023 Share Posted January 21, 2023 6 minutes ago, genericUserName said: It would be great to see cash phased out completely. The IOM govt should implement a no-cash rule in shops, catering etc. The amount which goes undeclared during TT week is likely significant. Which is an issue given that the tax-payer basically funds this + all of the associated costs, road works, emergency services, working days lost etc etc You'd get more black market currencies. The bad boys won't simply give up. Already happening on the dark web. Like all other regulations it would thwart the little guy while the big dicks carry on regardless. "Taxes are for little people." 2 Quote Link to comment Share on other sites More sharing options...
genericUserName Posted January 21, 2023 Share Posted January 21, 2023 Just now, woolley said: You'd get more black market currencies. The bad boys won't simply give up. Already happening on the dark web. Like all other regulations it would thwart the little guy while the big dicks carry on regardless. "Taxes are for little people." I doubt that the guys selling hotdogs and crappy teeteeshirts are going to go underground. Quote Link to comment Share on other sites More sharing options...
Numbnuts Posted January 21, 2023 Share Posted January 21, 2023 (edited) I'm a cash is king kind of guy but its getting increasingly harder to go about your daily life like it. Still take £50 notes on holiday with me as you get better rate for changing into local currency. Its hard though for car hire without credit card , which I dont have , and for hotel bookings . But its still doable and I do have 2 debit cards . Edited January 21, 2023 by Numbnuts Quote Link to comment Share on other sites More sharing options...
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