• This is a political forum that is non-biased/non-partisan and treats every persons position on topics equally. This debate forum is not aligned to any political party. In today's politics, many ideas are split between and even within all the political parties. Often we find ourselves agreeing on one platform but some topics break our mold. We are here to discuss them in a civil political debate. If this is your first visit to our political forums, be sure to check out the RULES. Registering for debate politics is necessary before posting. Register today to participate - it's free!

Cash now used for fewer than half consumer payments...

MickeyW

Banned
DP Veteran
Joined
Jan 10, 2015
Messages
14,012
Reaction score
3,439
Location
Southern Oregon
Gender
Male
Political Leaning
Conservative
Britain has passed another milestone on the path to a cashless society, with 2015 the first year that cash was used for less than half of all payments by consumers.

Cash usage will be eclipsed by debit cards and contactless payments by 2021, according to Payments UK, which represents the major banks, building societies and payment providers.
Cashless Britain advances as contactless and debit cards thrive | Money | The Guardian
 

MickeyW

Banned
DP Veteran
Joined
Jan 10, 2015
Messages
14,012
Reaction score
3,439
Location
Southern Oregon
Gender
Male
Political Leaning
Conservative
And being the maverick that I have always been, I'm going the other way.....cash, checks and my free money orders. My card transactions are very limited......and nothing online whatsoever.
 

Your Star

Rage More!
DP Veteran
Joined
May 15, 2010
Messages
27,241
Reaction score
19,930
Location
Georgia
Gender
Female
Political Leaning
Progressive
And being the maverick that I have always been, I'm going the other way.....cash, checks and my free money orders. My card transactions are very limited......and nothing online whatsoever.

Why?
.
 

ThoughtEx.

Banned
DP Veteran
Joined
May 18, 2016
Messages
5,138
Reaction score
2,124
Location
North America
Gender
Undisclosed
Political Leaning
Other

Probably afraid of Identity theft. Which funny enough it is just as easy to pick up the RFID chip signal in debit cards with a cell phone app, as it is to commit check fraud. So just owning and carrying a debit card is riskier than shopping online and never taking the debit card outside of your house. Money Orders are checks with additional steps and anonymity and usually only accepted by criminals or utility companies. And Checks work like a debit card, in the Grocery store they run it through a machine and then hand you the check back. Which an identity thief can accomplish with a smart phone camera. Cash has downsides as well, the paper variety is a germ carrier and inflation has rendered coins valueless in practical terms. Plus it can be stolen.

It is all moot as all of your money, except cash and money orders, is insured up to 250,000 dollars. So don't have more than that in anyone account that can be accessed. Also remove any identifying or personal info from your social media. And change your typing style between websites, mess up your grammar so tracking software can't link your information together and build a password profile on you. The databases your information is stored on are super encrypted and usually hackers get in through studying the people, not breaking the code.
 

Crovax

DP Veteran
Joined
Feb 15, 2014
Messages
13,339
Reaction score
7,562
Location
South Texas
Gender
Male
Political Leaning
Conservative
And being the maverick that I have always been, I'm going the other way.....cash, checks and my free money orders. My card transactions are very limited......and nothing online whatsoever.

Cash is for drug dealers and prostitutes
 

joG

DP Veteran
Joined
Jul 27, 2013
Messages
43,839
Reaction score
9,638
Gender
Undisclosed
Political Leaning
Independent
Britain has passed another milestone on the path to a cashless society, with 2015 the first year that cash was used for less than half of all payments by consumers.

Cash usage will be eclipsed by debit cards and contactless payments by 2021, according to Payments UK, which represents the major banks, building societies and payment providers.
Cashless Britain advances as contactless and debit cards thrive | Money | The Guardian

As long as there is cash and it is legal tender and accepted freely, we are safe. Cashless societies are too dangerous to tolerate. This is especially true in societies, where the government is informed of every banking connection one has.
 

joG

DP Veteran
Joined
Jul 27, 2013
Messages
43,839
Reaction score
9,638
Gender
Undisclosed
Political Leaning
Independent
Cash is for drug dealers and prostitutes

Let's hope that you never are in the situation that the government blocks your accounts by mistake.
 

tres borrachos

HoHoHo
Supporting Member
DP Veteran
Joined
Feb 20, 2012
Messages
80,741
Reaction score
55,927
Location
New England
Gender
Female
Political Leaning
Moderate
Probably afraid of Identity theft. Which funny enough it is just as easy to pick up the RFID chip signal in debit cards with a cell phone app, as it is to commit check fraud. So just owning and carrying a debit card is riskier than shopping online and never taking the debit card outside of your house. Money Orders are checks with additional steps and anonymity and usually only accepted by criminals or utility companies. And Checks work like a debit card, in the Grocery store they run it through a machine and then hand you the check back. Which an identity thief can accomplish with a smart phone camera. Cash has downsides as well, the paper variety is a germ carrier and inflation has rendered coins valueless in practical terms. Plus it can be stolen.

It is all moot as all of your money, except cash and money orders, is insured up to 250,000 dollars. So don't have more than that in anyone account that can be accessed. Also remove any identifying or personal info from your social media. And change your typing style between websites, mess up your grammar so tracking software can't link your information together and build a password profile on you. The databases your information is stored on are super encrypted and usually hackers get in through studying the people, not breaking the code.

OMG. That isn't what the FDIC insurance is for. It doesn't cover you in the event of fraud or stolen checks or anything else. It covers you in the event of bank failure. It started in 1933 to prevent another 1929.

Good grief. You shouldn't give bad information to people.
 

tres borrachos

HoHoHo
Supporting Member
DP Veteran
Joined
Feb 20, 2012
Messages
80,741
Reaction score
55,927
Location
New England
Gender
Female
Political Leaning
Moderate
Let's hope that you never are in the situation that the government blocks your accounts by mistake.

How does the government "block your account"?
 

countryboy

DP Veteran
Joined
Sep 13, 2014
Messages
18,765
Reaction score
7,408
Location
Ohio
Gender
Male
Political Leaning
Conservative
And being the maverick that I have always been, I'm going the other way.....cash, checks and my free money orders. My card transactions are very limited......and nothing online whatsoever.

Wow, you're missing out on a lot of convenience. Nothing wrong with cash, but by the same token, nothing wrong with electronic and card transactions either. :shrug:
 

Celebrity

DP Veteran
Joined
May 13, 2016
Messages
5,257
Reaction score
761
Location
VT, USA
Gender
Undisclosed
Political Leaning
Undisclosed
No guns and no cash, basically a liquidity lover's nightmare. Prepaid debit cards expire, so no more mattress money. All of your financial assets will still be privately held in banks. Don't you think this will result in financial literacy on the consumer end? The only difference is that the exchange is digital, which I shouldn't expect many people to understand. Money won't need to be printed anymore.

I bet that advocates of contactless payment think crime will be softer as a result, but it was pointed out in an earlier post that social engineering is still a cause of identity theft.
 

countryboy

DP Veteran
Joined
Sep 13, 2014
Messages
18,765
Reaction score
7,408
Location
Ohio
Gender
Male
Political Leaning
Conservative
By telling the bank to make no further transactions in the account.

What precipitated this?

You've talked about problems with your bank before. Don't you think maybe it's time to switch banks? ;)
 

joG

DP Veteran
Joined
Jul 27, 2013
Messages
43,839
Reaction score
9,638
Gender
Undisclosed
Political Leaning
Independent
What precipitated this?

You've talked about problems with your bank before. Don't you think maybe it's time to switch banks? ;)

Anything from suspicion of criminal activities to a dispute with the city you live in over a payment in connection with a house purchase. As the government has knowledge of all your accounts, you would be forced to maintain an illicit one in another name and possibly other country. In any event, you would be out of money for as long as it takes to sort out the problem with a bureaucrat that might not be very interested. No dinner, when the freezer is empty. ;)
 

tres borrachos

HoHoHo
Supporting Member
DP Veteran
Joined
Feb 20, 2012
Messages
80,741
Reaction score
55,927
Location
New England
Gender
Female
Political Leaning
Moderate
By telling the bank to make no further transactions in the account.

They can and will only do that in the event that levies need to be put on your account for such things as back taxes, unpaid child support, unpaid debt, etc. And those can only happen with a judgment. The government can't block your account for no reason. Only a judge can, and only with verifiable just cause. If you owe a private creditor money or the government money, te process to freeze your account is a long one. It's your responsibility to know if you owe money.

By the way, they don't prohibit further transactions on your account. You can still put money in the account.
 

TheGoverness

Little Miss Sunshine
DP Veteran
Joined
Mar 29, 2016
Messages
35,043
Reaction score
37,631
Location
Houston Area, TX
Gender
Female
Political Leaning
Slightly Liberal
How does this in any way, shape, or form, answer my question which was not even posed to you?
This happens a whole lot with Celebrity. I've got no ill will towards 'im, but sometimes he tends to not answer the question at all.
 

countryboy

DP Veteran
Joined
Sep 13, 2014
Messages
18,765
Reaction score
7,408
Location
Ohio
Gender
Male
Political Leaning
Conservative
Anything from suspicion of criminal activities to a dispute with the city you live in over a payment in connection with a house purchase. As the government has knowledge of all your accounts, you would be forced to maintain an illicit one in another name and possibly other country. In any event, you would be out of money for as long as it takes to sort out the problem with a bureaucrat that might not be very interested. No dinner, when the freezer is empty. ;)

Like I said, time to fire your bank. This has more to do with their incompetence than the government. ;)
 

Crovax

DP Veteran
Joined
Feb 15, 2014
Messages
13,339
Reaction score
7,562
Location
South Texas
Gender
Male
Political Leaning
Conservative
Let's hope that you never are in the situation that the government blocks your accounts by mistake.

Lets hope you never live in paralyzing fear of mathematically improbable situations.... too late
 

Celebrity

DP Veteran
Joined
May 13, 2016
Messages
5,257
Reaction score
761
Location
VT, USA
Gender
Undisclosed
Political Leaning
Undisclosed
This happens a whole lot with Celebrity. I've got no ill will towards 'im, but sometimes he tends to not answer the question at all.

I can't answer personal questions for other people. Just my two cents. Talking about changing banks in a thread about cash payment? That's big leap, even though it might not seem like one.
 

TheGoverness

Little Miss Sunshine
DP Veteran
Joined
Mar 29, 2016
Messages
35,043
Reaction score
37,631
Location
Houston Area, TX
Gender
Female
Political Leaning
Slightly Liberal
I can't answer personal questions for other people. Just my two cents. Talking about changing banks in a thread about cash payment? That's big leap, even though it might not seem like one.
That's fine. Just I sometimes have a hard time fully comprehending your posts.

But maybe that's on my part. [emoji30]
 

tres borrachos

HoHoHo
Supporting Member
DP Veteran
Joined
Feb 20, 2012
Messages
80,741
Reaction score
55,927
Location
New England
Gender
Female
Political Leaning
Moderate
Anything from suspicion of criminal activities to a dispute with the city you live in over a payment in connection with a house purchase. As the government has knowledge of all your accounts, you would be forced to maintain an illicit one in another name and possibly other country. In any event, you would be out of money for as long as it takes to sort out the problem with a bureaucrat that might not be very interested. No dinner, when the freezer is empty. ;)

What? You can't get a judgment to freeze an account over a "dispute with the city you live in over a payment in connection with a house purchase". Accounts can only be frozen if you owe someone money, and the lawyers present to a judge, and a judge sees a legitimate cause and can verify that you legitimately owe someone else money.

And because of the BSA laws, the bank itself has the right to close your account if it sees suspicious activity. The government doesn't tell them to do it. The bank has to file an SAR (Suspicious Activity Report) when they do it. They also don't do it lightly.
 
Top Bottom