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A cashless society is well on the way here and it will be there too soon.
Not true at all. Private vehicle sells, Facebook marketplace sells, security deposit refunds, Craigslist sells, barbershops, escorts, baby sitters, tutors, strip clubs, casinos, bars, laundromats, street vendors, car washes, car detailing, tips, taxis, developing countries with no credit infrastructure, etc all want cash.
When you sell a car (or furniture) to a random stranger, do you want cash, or do you want them to bring you a credit card and you need to go buy a card terminal and wait 5 business days for it to clear and pray they don’t dispute the charge? I didn’t think so.
We are no where near a cashless society. There are countless places that will never accept cards due to the fees, charge disputes, and delay of payment.
We are no where near a cashless society. There are countless places that will never accept cards due to the fees, charge disputes, and delay of payment.
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most retail shops would accept credit cards so they would get more business,also fast food restaurants long found out if they accept credit cards,customers tend to buy more.
The delay of payment has improved,they get their fund next day unless it is a foreign card,but the fees!! if they lose a chargeback,they pay fee anywhere from $10-$55 and the discount rate is 1-3%,small retail shops probably 2 -3% and it sure adds up,if a car repair shop bill is $1000,3% is $30 plus transaction fee
But you will find more shops in ethnic towns they do not accept credit cards,I was in a hair salon last week which has been in business 40 years,cash only.
Our local car repair shop now has a sign which said NO PERSONAL CHECK,they will accept credit cards,but prefer cash !
traditional banking is not like before,our Chase branch finally closed as few customers drop in to make it worthwhile.
It is in a busy shopping center and no other bank around .
so all it has now is an ATM machine/
You cash you payroll check,pay your landlord,your utility bills ,buy your grocery,fill gas and there aint much left ,why bother to have a bank account which would require you to maintain a minimum balance else there is a monthyly fee,limit the number of wothdrawals and you have to pay for checks printed .
I always tried to talk others from sending me a check,it would cost me a stamp to deposit by mail
Cost that’s why you’d have a bank account over cashing checks/buying money orders
but you need to maintain a minimum balance,else there is a fee per month,and limited to 6 free withdrawals,then you have to order some checks printed.
getting a money order in a supermarket is very cheap.
My point is these folks after paying all their bills,do not have much left in their pocket for beer,snacks,so why bother to have a bank account?
also you deposit your paycheck t oday,it is not cleared until next 1-2 business days.
but you need to maintain a minimum balance,else there is a fee per month,
Sometimes but know always. Don’t fabricate things
[quote-2and limited to 6 free withdrawals,[/quote]
That’s a savings account rule not checking. Maybe you are uneducated on the topic and should be giving advice
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then you have to order some checks printed.
Typically the first set is provided. Replacements aren’t expensive and you don’t need to get them from your bank either .
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getting a money order in a supermarket is very cheap.
No it isn’t. This is false and shows you aren’t financially savvy
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My point is these folks after paying all their bills,do not have much left in their pocket for beer,snacks,so why bother to have a bank account?
They don’t have money left over in part because they are paying to cash their checks and buy money orders. How are you ignoring this? It’s basic math, basic finance
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also you deposit your paycheck t oday,it is not cleared until next 1-2 business days.
Actually payroll direct deposit clears same day if not next day. Again giving advice here you are clueless
I have a Chase checking account in front of me,minimum balance $1500.
This is the last time I will respond to your post,I will now see if I can even not see any of your posts.
is this feature available,anyone knows?
I have a Chase checking account in front of me,minimum balance $1500.
This is the last time I will respond to your post,I will now see if I can even not see any of your posts.
is this feature available,anyone knows?
Yes. There is an ignore feature for anyone to use. It’s especially useful for those who choose to be ignorant and post nonsensical poor advice to others
We are no where near a cashless society. There are countless places that will never accept cards due to the fees, charge disputes, and delay of payment.
Rate this post positively
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most retail shops would accept credit cards so they would get more business,also fast food restaurants long found out if they accept credit cards,customers tend to buy more.
The delay of payment has improved,they get their fund next day unless it is a foreign card,but the fees!! if they lose a chargeback,they pay fee anywhere from $10-$55 and the discount rate is 1-3%,small retail shops probably 2 -3% and it sure adds up,if a car repair shop bill is $1000,3% is $30 plus transaction fee
But you will find more shops in ethnic towns they do not accept credit cards,I was in a hair salon last week which has been in business 40 years,cash only.
Our local car repair shop now has a sign which said NO PERSONAL CHECK,they will accept credit cards,but prefer cash !
Believe what you want. Payment within the same payment method is instant and the shop keeper gets immediate notification you have paid before he gives you the goods. The charges cannot be too much for the shops since the smallest ones do not make much money and 2% would significantly impact their profit. Cards are old technology. Online sales - the seller gets their money automatically after 7 days I think, but it gives enough time to receive the goods or not, and to dispute the condition.
we are talking brick and mortar retail stores,not individual weekend warriors selling on sales venue accepting Paypal or Ebay/MP payments/
Retailers get the sales proceed next day ,unless it is a card issued by foreign bank
I heard of someone doing that too. I see nothing wrong with it. Just having a bank account doesn't make someone better with their finances.
Also, banking has some irritations to deal with. Like fees, and delays when transferring money.
Banking is a for profit business. It is not some sort of right or government handout. Also, money transfers need to be checked out beforehand, since many are fraudulent.
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