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I really hope that you’re wrong in your assumption that we will soon become a cashless society, although I fear you may be right!
I agree that companies care more about profit than their customers’ financial welfare, but with the amount of debt in this country, we should all be concerned. We should help people with overwhelming debt to learn the concept of finance. and how it works. The cost of buying using credit can become overwhelming, and more should be taught both at home and in schools.
Although there are many advantages to using cards, ie counterfeit banknotes are a problem, there is a much bigger risk using cards. The threat of identity theft, being scammed by criminals, losing your card, having it stolen… The list is endless!
What about elderly people who have neither a computer or mobile phone? There are several elderly people I know who would lose their independence if they were unable to use cash when shopping. Your ideas regarding people opening several accounts to mitigate losses may be useful for many, though not helpful for those who do not understand the concept of the internet and how it works.
Amazon have now opened their new shop in London, which is totally cashless. I believe that Tesco have also opened a cashless store. During the pandemic many stores have refused to accept cash, and customers could only pay using cards.
While cards are useful if many instances, flashing a card through a machine at the store can be easier that using notes and coins, it doesn’t feel as real as the cash in your pocket. Once it’s gone – it’s gone! You know where you are.
Which? have been running a campaign to stop us being forced into becoming a cashless society. I really hope they are successful! It is so necessary for many.
Well done for standing up to the cashier who refused take accept cash as payment.
It seems that most people are in agreement that a ‘cashless society’ would be a negative step to take, for so many reasons already stated. The consumer organisation Which? ran a campaign to keep cash payments available a short while ago, which was hugely successful.
However Tesco and other stores have been trialling new stores in certain areas where they will refuse cash as payment. I haven’t heard how successful this has been.
It looks like we will have to keep battling on and refuse to be domineered by big multinationals.
We could start clawing some of this money back by making laws which ensure that big companies pay tax in the countries where they make their money.
Companies such as Amazon, Apple, Ebay, Facebook and others are making vast amounts of money by using legal tax loopholes which allow them to pay minute amounts of tax in other countries.
The UK (and other countries)would receive huge sums of tax, which would also help smaller companies to compete on a level playing field.
I think we have all had enough of the austerity measures of the past ten years, it will be interesting to see what measures the chancellor Rishi Sunak, has up his sleeve in the Autumn budget.