Do You Carry Cash?

jpv on 24/03/2017 - 14:56
Last edited 24/03/2017 - 18:32 by 1 other user

A few weeks ago, I went to a RSL while I was waiting for a mate. I ordered a beer for $4 and went to pay by card. The bartender looked at me weird and said "You're not paying by card". I asked if there was a minimum and he said "For something this small, you're not paying card". The RSL accepted EFTPOS, Mastercard and VISA since their were signs and stickers on the registers. Luckily, I had a few churchies in my pocket to pay for it.

I've rarely carried cash since I mainly pay for everything by card. I understand if a small mum and dad shop or small restaurant doesn't accept card but for an RSL, I'd except that they'd be happy to take card for any purchase.

So the question is for the ozbargainers: Do you carry cash?

Poll Options

  • 366
    Always. e.g. Cash 24x7
  • 139
    Sometimes. e.g. Take cash out occasionally
  • 360
    Rarely. e.g. Someone gave you cash for a meal because you were paying by card
  • 141
    Never. e.g. Always pay by card
Financial

Comments

    • Diji1 on 24/03/2017 - 19:21
      +5

      Jokes on them and you: customers paying with cash spend less than customers paying with oplastic cards.

  • Stewardo on 24/03/2017 - 17:20

    Always drink with cash, it doesn't then appear on you bank statements.

  • Gronk on 24/03/2017 - 17:45

    Normally I only carry cash when going for big rides where I'll be hundreds of km from home, in most cases all servos accept card payments but I've come across a couple that couldn't for one reason or another, diners / food outlets can be a bit hit and miss the further away from civilisation you get.

    If I'm just heading out for dinner or a few drinks then I'll generally just take my bank card, takes up less room than a wallet plus I have an allergy to some metals so would prefer to avoid carrying any coins unless absolutely necessary.

    • Scrooge McDuck on 25/03/2017 - 09:49

      I have an allergy to some metals

      Which?

      • Tealblue on 25/03/2017 - 11:01
        +2

        People can be allergic to Nickel. Depends on the concentration but it can irritate the skin and cause like a tiny rash or itchiness at first.

      • Gronk on 25/03/2017 - 18:31
        +1

        Not sure exactly which one(s) but it's only ever been an issue with cheap jewellery, belt buckles, watches and coins - all of which could probably contain Nickel but I've never really dug into it.

        I did see a doctor at some point but they just advised me to stop wearing anything that caused irritation, seemed logical enough since all that happens is I get a bit of an itchy rash.

        • Scrooge McDuck on 25/03/2017 - 18:47

          Wouldn't you prefer to know conclusively so you can proactively avoid the allergen?

  • nomoneynoproblems on 24/03/2017 - 21:04
    +2

    I don't like carrying cash, i tend to spend it.

    • j05h on 25/03/2017 - 09:25
      +4

      I find I have a separation from the true value of what I'm buying when I buy it on card. As in, I happily tap my card and there is no sense of a physical loss of losing $10 out of the $50 note.

      Although, I buy absolutely everything on card. So much easier…

      • Scrooge McDuck on 25/03/2017 - 09:52
        +1

        I find I have a separation from the true value of what I'm buying when I buy it on card.

        I feel that way about cash.

        *What are these heavy, noisy tokens, and this colourful plastic? Get it away!*

      • callum9999 on 27/03/2017 - 10:02

        Conversely I find it much easier to track my money when there's a real time balance just a click away on my phone, with a list of exactly what I spent where.

        I don't buy things "just because I can" though, so losing the feeling of spending money doesn't affect me.

    • MathNerd on 25/03/2017 - 09:35
      +4

      Username checks out +1

  • Cheap Steve on 24/03/2017 - 21:07
    +5

    You should have just said this to the bartender;

    "Oi you, Shut your mouth and look at my wad! Loadsamoney!!"

    Then you could've whopped your wad, whopped your wad, whopped your wad on the counter.

  • Herotype on 24/03/2017 - 21:49

    Some places don't accept card so I usually get to keep a decent amount on me in case I can't find an ATM to withdraw out of

  • Herotype on 24/03/2017 - 21:50
    -3

    Some places don't accept card so I usually get to keep a decent amount on me in case I can't find an ATM to withdraw out of

  • Marcsie on 24/03/2017 - 22:04

    I won't leave home without cash :)

  • lainey13 on 25/03/2017 - 00:15
    +4

    I take out a few hundred and run it down on places that charge a fee or take cash only. There are WAY too many places like that still considering I spent 4 days in Iceland and not once did I see any cash whatsoever. I even paid for a stamp with my card. Everywhere took card and I still don't know what Icelandic money looks like…

    • decr on 25/03/2017 - 13:50

      Haha that reminded me of a time up that way (not Iceland, but thereabouts anyway) when buying a coffee I paid 2€ in cash and 10c on card (coffee was 2.10). The person serving me didn't even blink. I think that's still my personal record for the minimum card purchase ever.

    • grasstown on 25/03/2017 - 15:58

      I was in Iceland in 2006 and everywhere expected card. For brew coffee etc .That said, I like cash and use cash at non franchise places

  • cheapisgood on 25/03/2017 - 01:25
    +1

    Of course you should carry a bit of cash. Anyone that says they carry 0 cash are the silly one. You can never fully rely solely on technologies as it will fail at times.

    What if you go to a cash only place and/or the machine is broken?

    • klonky on 25/03/2017 - 07:13
      +3

      I think this depends on where you live too. It is extremely rare in Canberra to find a business that doesn't accept card.
      We went to Melbourne recently and I was amazed at how many food places had signs in the window saying "cash only". They would never survive here as mostly everyone uses card.
      I never carry cash as I only carry a card wallet. If somewhere doesn't accept card or charges a fee, I move on.

      • Baysew on 25/03/2017 - 11:39
        +1

        This highlights differences between Canberra and Melbourne.

        Melbourne people are obsessive about the food, Canberra people are just concerned with the payment method.

      • cheapisgood on 25/03/2017 - 12:48

        because some places don't see the benefits of having a card facility, costs them a lot of money cause the banks are greedy as.

        Also looks like someone didn't like my place and hates cash lol

    • Scrooge McDuck on 25/03/2017 - 09:54
      +1

      What if you go to a cash only place and/or the machine is broken?

      You go somewhere else.

      • cheapisgood on 27/03/2017 - 23:47

        not really a smart idea if what you want to buy / eat is at that specific store.

        A sensible person would carry a bit of cash. You would be silly not to. Society will never be a cash less society. Sure card can dominate it but will never be the only form of payment.

        • spb on 28/03/2017 - 11:10

          Then you go withdraw some at that point. If you want to eat\buy at a specific store you generally know before hand if is cash only and if isn't then you just go withdraw some when you hit the place.

    • callum9999 on 27/03/2017 - 10:07

      In the 15 years I've been using my cards for almost everything, the system has never failed. During the 8 years I spent in retail, the card network went down for 3 hours - and the cards were still accepted, just processed manually.

      The time I've saved not managing cash over 15 years will more than make up for some incredibly unlikely hypothetical event in the future.

  • Godric on 25/03/2017 - 09:15

    I've probably made 1 withdrawal for a $20 note with in the last 3 months and i keep that as a backup incase i lose my card AND my phone lol, or i happen to go to a place that doesn't accept card.

  • [Deactivated] on 25/03/2017 - 09:17
    +2

    if they don't accept card or try to charge a fee just keep on walking.

  • MathNerd on 25/03/2017 - 09:37

    Where's all the comments saying:
    "Pay by card for all the points"
    "Keep money in offset for longer and pay by credit card"
    "Gift cards save 5%"
    Etc etc etc…

    • Emli on 25/03/2017 - 09:54

      Well I feel like the exception here. I pay by the card for many bigger bills/food shopping for the points. Tap and go is so easy to use but so easy that it would make it hard to stay in budget. Cash makes it easier to stay in budget. When it's gone, no more spending. I can see how if you were not careful that all those small purchases done by card could end up as a bigger than expected bill at the end of the month (well for me any way).

      • [Deactivated] on 26/03/2017 - 10:09

        the 5% gift cards would still help with that

        $200 gift card per week and restricts your spending to petrol, food and alcohol at Woolworths

    • Scrooge McDuck on 25/03/2017 - 09:57

      Where's all the comments saying…

      I blame ING for cancelling the 5 %2 % rebate. 😒

  • peterpeterpumpkin on 25/03/2017 - 09:43
    +1

    I put the cards needed that day in my phone case sleeve. If I'm leaving far I add $20 to the phone sleeve just in case.

    But my biggest fear is that I'll spend the note and end up with a jangly ball of shrapnel pulling down on my previously comfortable elasticised shorts.

  • WaitAwhile on 25/03/2017 - 10:46
    -6

    I use cash everywhere. I have noticed in the last 5 or so years some of the younger generation have difficulty with maths and giving you the correct change. I think it may be a combination of the education system and them not using their brains much (to calculate change) as alot of people use cards. Ofcourse i only notice when they shortchange me ;)

    • epicttiimm on 25/03/2017 - 11:29
      +2

      You just need to WaitAwhile for them to give you the correct change mate.

    • smartazz104 on 25/03/2017 - 19:00
      +3

      Probably because your generation were rubbish teachers and parents.

  • Kempe on 25/03/2017 - 11:24
    +1

    Always have at least $50 cash on me, stuff paying a $4 drink on the card.
    How do you remember all this when you reconcile your accounts?

    • jpv on 25/03/2017 - 12:08
      +3

      You don't need to remember it since it's on your bank statement. That's one of the reasons I pay by card. Don't need to keep track of receipts for small purchases.

      • Kempe on 26/03/2017 - 23:18

        Yeah but they could have charged you $4 for a $2 item and you wouldnt have remembered

        • callum9999 on 27/03/2017 - 10:12

          Only if you don't bother to read the screen.

          And you surely can't believe it's still normal to reconcile your accounts? "Yeah, that balance looks about right" is as close as most people will get!

    • Realdee on 25/03/2017 - 14:05
      +1

      Exactly the same as jpv, card actually makes this process easier.

  • Dual on 25/03/2017 - 12:14

    Yeah i always carry a stack of 50's

  • captobvious on 25/03/2017 - 12:35

    cash only takeaways/cafes. Very inconvenient. So have to carry cash most of the time.

  • Randxyz123 on 25/03/2017 - 12:59
    +3

    Luckily, I had a few churchies in my pocket to pay for it.

    A couple of what?

    Anyway I'd have told the bar tender if there is no minimum then I'm paying by card. If they wouldn't accept it then forget it.

    I carry a little cash IF I know I'm going out to dinner with friends and we'll need to split the bill at the end of the night.

  • mmd on 25/03/2017 - 13:16
    -1

    I used to manage a shop for a large chain, and it was frustrating when you get ppl buying something for $2 and paying EFTPOS. I believe EFTPOS charges the store up to 20cents.

    So even tho the RSL have a large network, they are not a major corporation like a supermarket or department store who will try and entice you to spend any amount instore.

    • Tyrx on 25/03/2017 - 21:47

      The cost of processing EFTPOS payments is chicken feed in comparison to what trusted cash transit services such as Armaguard will charge businesses. The aversion towards electronic payments as always been about tax avoidance - the whole "banks charge too much" argument is purely for deflection purposes.

      • mmd on 26/03/2017 - 12:54
        +1

        Not all businesses use cash transit service. We used to send two staff members to deposit cash. I should have been more specific by saying the item costs $1.80 to buy in. Customers buys for $2 and paying by EFTPOS means it's a loss factoring in wages, rent, etc

    • [Deactivated] on 26/03/2017 - 10:12
      +1

      no longer true

      now the cost is a rental fee for the machine
      then between .2% and 2% per transaction
      certainly not 20c in the $2

      • mmd on 26/03/2017 - 13:03

        Are you sure EFTPOS transaction is now a % of the transaction.
        Back then (5 years ago) mastercard, visa and and amex charges a % per transaction, whereas EFT was a flat 20 cents regardless of the transaction cost.

        I should have been more specific in my example.
        The item cost 1.80 to buy in. Customers buys for $2 and pay EFTPOS (not visa or MasterCard) means it's a loss factoring in wages, rent etc

        • [Deactivated] on 26/03/2017 - 16:24

          Today the bank provides our eftpos handhelds with Optus GSM and are covered by the rental, no phone line anymore

          when we were using a dial up modem EFTPOS terminal there was a local call cost typically 20c or $1 depending on the telstra fixed line plan.

          these days in stores many would not longer have charged local calls

          Otherwise the newer DATA based models using a bank provided GSM (mobile sim card) or internet connection
          so there is no longer the incidental 20c call connection cost which technically wasn't a bank charge

        • anthony1106 on 26/03/2017 - 19:53

          @carlb:
          that's not true…
          using those mobile one, still got charge 5-10cents per transaction + 1-2% for Visa/Master, 2.xx% for AMEX

  • Realdee on 25/03/2017 - 14:03
    +1

    What attitude… Like you, understandable for a small business but not a medium sized operation like an RSL.

  • lordezekiel on 25/03/2017 - 14:09
    -1

    Only someone who is highly paranoid or completely unorganized doesn't carry cash.

    • kipps on 25/03/2017 - 16:06

      This comment fails to give regard to a whole group of organised people with very thin wallets (ie Bellroy).

      • jpv on 25/03/2017 - 19:23

        or secrid. :)

      • lordezekiel on 25/03/2017 - 21:26

        Sorry how thick is a $20 note again?

    • brotherfranciz on 25/03/2017 - 16:16
      +2

      I would've thought it was the other way around:

      If you are paranoid, you would in fact want cash on you "just in case something happens".

      If you are completely unorganised, you wouldn't have everything planned out, so you may need cash just in case. Whereas people who don't carry cash would definitely be organised and plan accordingly.

  • dufflover on 25/03/2017 - 14:39

    Yes I carry enough cash in my wallet (I even still have and use the coin pocket in it!) but typically use the card for most things. The cash lasts a while since it is either all small purchases or as emergency. I've had decent number of times cash has been needed or friends ask to borrow money cos the place (say a pop up market near work) doesn't accept card.

    To all those people who "keep walking" if it's no card then you can't call yourself an OzBargainer cos obviously the payment method is more important than the product/service, so you don't really need it to begin with. Spending unnecessary :-P

  • I3IGN0sE on 25/03/2017 - 15:40

    My suncorp EFT terminal costs me 0.8% per transaction for credit and cheque accounts and 0.08c for savings accounts. Total on transaction doesn't get higher for smaller purchases. Not totally sure about the percentage but it's definitely lower than 1% and is a percentage of the total amount for credit transactions.

    • BradH13 on 26/03/2017 - 10:15
      +1

      I'm unsure whether you think those charges are reasonable or not? It seems like you do, which is good.

      I just see EFT terminal fees as a cost of doing business. Gotta spend a bit of money to make money.

    • [Deactivated] on 26/03/2017 - 16:38

      for the EFTPOS (Saving/CHQ) transactions is that 8 100ths of a cent ? or 8 cents.
      Is that flat rate or per dollar?

      My Merchant Bank Statement have Visa and Mastercard with percentages all over the place depending what country issued the card, bank, brand, rewards scheme,
      A Standard visa was about 0.37%, Mastercard 0.4%,
      a Mastercard Platinum Black was 3.9%
      Visa Gold 3.75% and Amex Platinum close to 6%
      Paywave has a slightly higher charge to the store over the exact same card using pin.

      On the merchant side I have no idea why the banks are allow to get away with such things
      A card with Visa logo that I run through my machine, I can give the bank back anywhere between 0.3% and 5% and I will never know until the statement date.

      and is exactly why many stores seek a CC surcharge much higher that 0.5%
      because Visa and Mastercard can also be >4% in some circumstances.

      • I3IGN0sE on 29/03/2017 - 09:42

        All I'm sure of is that it makes the total charge to the business microscopic if the majority of customers use savings; and that it is a flat rate. The credit card one is 0.08% of the transaction pretty sure about. This is suncorp. I am not sure the Amex charge but I believe it is a bit more. Mastercard + visa both same I believe.

        • [Deactivated] on 31/03/2017 - 16:00

          i promise my merchant statement has an endless variety of bank commissions,
          This is Comm bank link however all are the same and vary the merchant fee based on type and variety of card
          Personally if you are getting a flat 0.08% you have the certainty of rate, however if your clientele is most likely to have a basic CC or Debit card the typical rate is half.

          http://iframe1.mtansw.com.au/files/downloads/cba/Merchant%20…

          Merchant Services Fee (MSF)
          What is it? The base percentage fee charged by the Bank
          for providing merchant services.
          How is it
          calculated?
          As a percentage of each credit card sale.
          Merchant fees may vary significantly depending
          on transaction volume, average ticket size, card
          types and other factors.

  • IdBuyThat4aDollar on 25/03/2017 - 15:49
    +3

    Thanks to ING debit card, I rarely carry cash. If I need cash because some place doesnt accept card, I just go to the nearest ATM even if its one of those expensive convenient store ATM's.

    • peterpeterpumpkin on 26/03/2017 - 11:19

      I haven't use one of those ATMs in years. I'd feel like one of those people that get shoe shines. Or taxis.

      • IdBuyThat4aDollar on 26/03/2017 - 11:37

        Strangely enough, it usually happens on drunken nights

  • Tasmaniac on 25/03/2017 - 15:51

    Nope. All I carry is a card, no wallet, no id just a card. It's very liberating.

  • brotherfranciz on 25/03/2017 - 16:05

    I haven't needed to carry cash in my wallet for the better part of a decade now.

    My main spendings are on groceries and petrol (by eftpos or PayPass). I buy almost everything else online and pay all bills online too.

  • sathion on 25/03/2017 - 16:22
    +3

    I carry cash now days because I am doing the $5 challenge, Every $5 note I get I set it aside in a money box and on the 1st of January 2018 I will open it up and see how much I've got.

  • misfitt1911 on 25/03/2017 - 16:28
    +1

    I always carry cash, and I prefer to use cash. I find it harder to keep track of how much I am spending when I use card.

    • BradH13 on 26/03/2017 - 10:12
      +2

      Heaps of people use that reasoning, but I find that logic is flawed.

      Cash is record-less (unless you keep receipts), but paying on card gives you a detailed summary of your spending including time and place, that you can access from your pocket or desk 24/7.

      What ever works for yourself, works though.

      • freemoneyhunter on 26/03/2017 - 18:24

        No, if you are charging things on your credit/eftpos cards, you don't notice how much you are spending. If you go out with $100 and return home with only $20, you'll wonder how you spent so much, with a card you just don't ever notice until it says declined.

        I like to hand over something real in exchange for goods/services, paying with a card doesn't feel right, like the person receiving is just getting a head nod and not a handshake.

        • BradH13 on 26/03/2017 - 18:43

          I certainly don't over-spend using a card, but then again - I'm the type of person who checks their online banking daily and always know how much I have in my everyday account. Like I said though, whatever works for you, works.

  • realfancyman on 25/03/2017 - 16:42

    I have Android pay on my phone which I use for most purchases, but I also carry a slim wallet with 3 debit cards, my ID, metro card and one spare spot for a gift card or something. I keep about $50 cash in the middle in $5 or $10 notes, I don't carry any coins.

    • jonathonsunshine on 25/03/2017 - 17:30

      What do you do with your change?

      • realfancyman on 25/03/2017 - 17:34
        +1

        Carry it home in my pocket, then put it in a jar. Once it gets to a reasonable size, I'll go down to the post office (bank@post) near my house and deposit it

        • BradH13 on 26/03/2017 - 10:08

          My mate applies the same rule to himself, RE: coins. He has two of the big Piccadilly water bottles - one for gold, one for silver and then takes them to his bank when they're full and empties them into the automatic coin deposit machine. He usually nets just over a grand each time. Great way to save if you use cash still.

  • [Deactivated] on 25/03/2017 - 17:02

    The only time I get cash is from or for red packet.

  • Yuri Lowell on 25/03/2017 - 17:18

    I usually carry a small amount a cash on me at all times.

    • freemoneyhunter on 26/03/2017 - 18:25
      +1

      What about when your having a shower or sleeping?

  • jonathonsunshine on 25/03/2017 - 17:27

    Slightly off topic i guess butI went to local RSL last night for the first time in maybe a decade.

    $7.50 for a pint of little creatures, deserves its own bargain post on OB!

    Also: https://media3.giphy.com/media/8B9hGl5neRTNK/giphy.gif

  • fruit on 25/03/2017 - 18:01

    Card only

  • dojomojo on 25/03/2017 - 18:09
    +6

    If I find that I'm below the minimum for EFTPOS, I simply walk away from the transaction - I hope the fees saved by the shop was more than the lost revenue of my purhase

  • OzBestDeal on 25/03/2017 - 18:42
    +1

    Yes.. always carry cash.. I eat in asian restaurant a lot…
    My favourite thai restaurant have eft machine broke down every couple weeks.

  • robbo135 on 25/03/2017 - 18:48

    I'm a cashed up bogan, I deal in pineapples only !

  • smartazz104 on 25/03/2017 - 18:59
    +1

    "You're not paying by card"

    "Well, yeah, because you're being a difficult (profanity)".

  • Ghogger on 25/03/2017 - 19:37

    Bro where are you finding beers for $4 a pop still, I want in

  • Darkpulsar on 25/03/2017 - 19:50

    I use a small card holder wallet and carry only a small amount of cash (max $40) just in case, though I'd prefer to carry zero cash. I try to avoid cash-only businesses (or ones with high minimums and/or surcharges) out of principle too.

  • Mysterious Laptop on 25/03/2017 - 20:25

    I only carry cash if I know the place i will be going to only takes cash. For example you're heading to a vietnamese joint with your mates, i'll carry cash. Otherwise throughout the week its card.

  • derk on 25/03/2017 - 20:32
    +2

    I rarely carry cash and are at the stage where if retails either don't take card or have an unreasonable minimum eftpos I just smile and tell them not to worry about it.

    For instance I wanted to try a new coffee shop near me. Went it with a work colleague. 2 caps was $9 but there min eftpos was $15. No thanks. Walked across the road to our usual and paid with eftpos no problems. Won't go back.

  • Schezwon on 25/03/2017 - 20:45

    I can't stand people who still insert or swipe their cards and punch the pin numbers when they have the tap and go chip on the card. … i just don't understand. .. its mainly the old people. Like my parents.

    • realfancyman on 25/03/2017 - 21:30
      +1

      Not old people, just people who watch A Current Affair.

    • BradH13 on 26/03/2017 - 10:01

      My auntie (just turned 50) and her partner refuse to even get a Visa/MC debit card for the fear of getting 'ripped off', let alone a card with an RF chip (which she thinks is the "peak of human stupidity"). They still have the standard swipe only EFTPOS cards.

      Doesn't stop them wanting to buy things online though, so guess who gets guilted into doing their online purchases for them…

      Some people just don't 'get it', despite being told how safe (safer than the standard swipe cards in fact) they are. Even if your card gets knicked, you just report it to your bank and they reverse the transactions post-theft anyway. Sure it's a bit of a hassle, but the convenience is worth it.

    • peterpeterpumpkin on 26/03/2017 - 11:25

      True, but ALDI charges 0.5% for tap-and-go!

      (Proof: say shopping is a $1,000,000 after 1000 years. 0.5% of $1,000,000 is $5000. $5000 is a lot of money! Q.E.D)

      • Schezwon on 30/03/2017 - 16:39

        Lol who lives a 1000 years.

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