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Email this8:34 am
December 17, 2016
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Revealed: Cash eclipsed as Britain turns to digital payments
In the developed world, Sweden and Canada are at the vanguard of the recent move away from cash, as debit cards, credit cards, phone payment methods and apps and online transfers predominate.
8:40 am
September 22, 2017
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I dont know about you guys, but I took David Chiltons The wealthy barber returns to heart. We are cash with exception to heating, phones, etc...
And I feel my spending has severely restricted... It kills me to throw 200-300$ to groceries or buying out. Using cash definitely works. For US.
9:38 am
October 27, 2013
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I rarely go to an ATM for cash. I think I have been 3-4 times last year in total and mostly because some casual help wants cash, e.g. window washing, or raking up yard debris in spring/fall. Everything else is debit, credit, Interac email transfer where possible, and soon I will succumb to Samsung Pay and Android Pay. Rarely do I use a cheque any more (mostly gifts to adult children that are above Interac email transfer limits).
Spouse was going to order a new batch of 50 cheques from RBC on Friday and the branch told her not to do that...as RBC was going to phase out of cheques completely in the near future. Things like Interac email transfer and Apple Pay/Android Pay will be how it is all done.
I would have liked to have been there and asked how they are going to transition seniors who are stuck in the 1990's yet. I suspect there will be some special accommodation for those without digital devices yet.
All in all, I would love the freedom to NOT ever carry cash myself, and I would love NOT to ever be behind someone at the cashier paying cash. What a waste of time and inefficiency.
9:51 am
December 17, 2016
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^^^ Same.
While the barber I go to isn't equipped to accept either debit or credit cards (yet) he is tech savvy, so I sent him an Interac e-Transfer - worked great.
10:22 am
October 21, 2016
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All those method of payments except cash are great. There is no easier way for various agencies of the government to keep track of your EVERY move than to use such data. Of course, your privacy and your private life has no value whatsoever. Forget privacy, it doesn't even exist anymore. You are just a number being evaluated, classified and used as whatever the greater powers decide to. You are a cute little toy.
P.S. I used to work in "security", so I know what I'm talking about.
10:27 am
October 27, 2013
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Get over it. We have no real privacy now with our digital footprints everywhere else.
10:40 am
December 17, 2016
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P.S. You can run BUT you can't hide.
The government already knows everything there is to know about you NOW ... doubt they much care you buy a Tim Hortons double-double, on your way to work every morning, using your debit card.
11:19 am
April 6, 2013
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AltaRed said
…
Spouse was going to order a new batch of 50 cheques from RBC on Friday and the branch told her not to do that...as RBC was going to phase out of cheques completely in the near future. Things like Interac email transfer and Apple Pay/Android Pay will be how it is all done.I would have liked to have been there and asked how they are going to transition seniors who are stuck in the 1990's yet. I suspect there will be some special accommodation for those without digital devices yet.
…
I think it is just the certified cheques on personal accounts and travellers cheques that are being/already phased out. RBC Royal Bank: Alternative Payment Options:
RBC certified cheque service will no longer be available for cheques drawn on Personal accounts, and American ExpressTravellers Cheques will no longer be available for sale, as of November 1st. There are still many great alternatives to help you stay on top of your banking needs. …
CIBC stopped offering certification of cheques drawn on their personal accounts as of September last year.
11:32 am
October 21, 2016
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AltaRed said
Get over it. We have no real privacy now with our digital footprints everywhere else.
If you would have worked in the same environment than I did and seen the flagrant abuses of powers, you would think twice about the way you conduct your life. Like I said, you are a cute little toy.
11:37 am
November 21, 2015
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The reason I use cash for small payment amounts, under $10, is to keep cash in circulation. Should the government discontinue cash, then there would be no possibility of money withdrawal in time of 1) Negative interest rates, where you pay the FI for the privilege of having your money - guaranteeing you have less at the end of the year then what you started with. 2) Greek haircut.
11:45 am
December 17, 2016
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JustMe2016 said
If you would have worked in the same environment than I did and seen the flagrant abuses of powers, you would think twice about the way you conduct your life. Like I said, you are a cute little toy.
Nothing more than spreading FUD.
12:12 pm
September 11, 2013
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Gov't is keystone cops & unionized slackers, wouldn't worry about them. It's the marketers that want to know your every move, thought, etc so they can ply you with irresistible offers. Kinda funny, the same species that flocks to Facebook, Twitter, etc to broadcast their every move, thought, etc, getting upset about lack of privacy!
Aside from my landline I have no intention of ever getting a phone. Guess soon I won't be able to pay for stuff.
12:23 pm
December 17, 2016
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Bill said
Aside from my landline I have no intention of ever getting a phone.
And we've gone the other way - our cell phones are also our "landlines."
Bill said
It's the marketers that want to know your every move ...
TOO true. Got a Costco Membership Card, they know your purchasing habits; got an AirMiles card, they know where and what you shop for; got a PC Optimum card, they know your purchasing habits, even the prescription drugs you buy at their pharmacies along with the names of your prescribing doctors; etc, etc, etc.
Got an internet connection ... ever notice how the web page ads follow your search engine inputs. Got a Gmail account - Google takes algorithm scans of every email you send and recieve - it goes on and on.
2:04 pm
April 16, 2017
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Students of history will know the pendulum swings.
Remember the photo of the wheelbarrow of German marks needed to buy a loaf of bread circa 1940s?
My practices - keep some cash on hand in a fireproof safe. You never know when the ATMs will go down and maybe stay down.
- keep some pre 1967 silver coins (junk silver) and gold maple leafs on hand if cash is ever trashed. It may get you that loaf of bread.
- cover all your financial bases and you should be OK. It's small insurance. Who needs every 0.10% of interest on your assets?
2:13 pm
December 17, 2016
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...the wheelbarrow of German marks ... was in the early 1920s, not the 1940s.
As for the rest, well, as they say - whatever floats your boat.
2:43 pm
October 21, 2016
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Bill said
Gov't is keystone cops & unionized slackers, wouldn't worry about them. It's the marketers that want to know your every move, thought, etc so they can ply you with irresistible offers. Kinda funny, the same species that flocks to Facebook, Twitter, etc to broadcast their every move, thought, etc, getting upset about lack of privacy!Aside from my landline I have no intention of ever getting a phone. Guess soon I won't be able to pay for stuff.
For the record, I don't have a Facebook, nor Twitter account. Never did. And I don't go to such websites. Even better, I do not own a cell/smart phone. I do on some rare occasions use a disposable cell/smart phone when travelling abroad. I don't collect points from any reward programs. But I do use CC when occasionally buying something online. And one better, I modified my Lexus vehicles so I can disable the navigation system whenever I wish to 😉
There is a saying in law enforcement; 'always make the life of a criminal as difficult and unpleasant as possible'. But what if the one acting illegally is the government? 😉
3:54 pm
October 27, 2013
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Yes, we know all about gov't overreach, and spying, and all that. Mr. Snowden showed us one example.
One really cannot function in today's world without being plugged in and as long as I limit as much as possible via Privacy settings on various sites, there is not much else one can really do. I use FB sparingly and the Privacy settings are locked down, and I don't disclose personal information, but they still know where I am located from IP addresses, location settings in browsers, etc. It is just the way life is.
Those without digital devices will be left out of anything germane to this world.
P.S. I do keep some cash at home in the file cabinet as a 'just in case' scenario. Just makes sense not to be fully dependent on the Internet (debit/credit) and ATMs being down.
3:57 pm
September 11, 2013
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Spanky, another part of the German experience in those pre-dictator times of deflation, hyperinflation, new currency, etc, is that the city-folks were out of luck, the country-folks didn't want their worthless money or their silver in exchange for eggs and other necessities. What saved a lot of them was 100 years ago most people still had a family connection to a farm so they relied on their farm kin to help them survive. Different situation these days, most have zero connection to anyone on the land, we'll see what happens next time around.
5:29 pm
October 27, 2013
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Get ready for the elimination of the nickel within 5 years https://globalnews.ca/news/4002870/canada-nickel-phased-out-penny/
FWIW, I would be happy to see it gone now. I dump all my nickles, even dimes, into charitable jars when I can. The only reason I hesitate about the dime is its small size and low weight. Quarters are still useful for some parking meters depending on what city one is in.
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