Quote:
Originally Posted by willister
Cash just seems very old school, pre-internet days...I get paid by EFT, most of my bills are paid via BPAY, most transactions I use now are via paypal, paywave or credit cards in one form or another - electronic. I have $100 in my wallet here and there for the odd cash purchase.
When I think about cash, it just seems more or less for illegal means - gangsters drug money, money laundering rackets etc.
Sure, there is somewhat still a cash market for some tech backward people or the elderly but can we reduce/remove cash totally in another 10-20 years?
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Pretty much I carry no cash these days.
Even < $10 they will often let you use Paywave, esp the big supermarkets etc.
Every single bill, car rego etc are also done with Internet banking.
There is still a small cash economy, eg a school tutor is only cash, a local tennis club, a backyard hairdresser and most barbers etc, but it is less and less.
Even most fish and chip shops, places that that traditionally love cash, are now taking eftpos.
There is only 1 Chinese takeaway/ restaurant in my area left that takes "cash only", and this type of cash economy often pay their workers cash etc. (we only use them once in blue moon anyway, as it isn't that great).
There are some disadvantages, eg if you lose a visa or master card now they can pretty much fleece $100 and throw it away (happened to me last year, they spent it down in King Street Newcastle for a night out), so you have to be careful with them.
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