Helpful member
Not sure if you are aware but the EU are "exploring" the introduction of the digital euro, hands up all those that want to keep their money on the phone.
Helpful member
Not sure if you are aware but the EU are "exploring" the introduction of the digital euro, hands up all those that want to keep their money on the phone.
What difference does it make? Most people use their phone or bank card already. I've not used "real" money for years. 😎
Posted: Thu Aug 31, 2023 8:37pm
Very helpful member
Kenneth1 wrote on Thu Aug 31, 2023 6:05pm:
What difference does it make? Most people use their phone or bank card already. I've not used "real" money for years. 😎
I think you might be on lower percentage of people who have not used cash. I and many of my friends prefer Cash. Not everyone has good Internet access or even good knowledge of how online Banking works. Yes the Banks are trying to March us all in to Cashless. How many Traders in Playa Flamenca will be using Online Banking. Some excitement when you purchase an item for 5 euros then trying to get his Bank details or if they have Debit card facilities. 🤔
That my and many of my friends opinion
Cash is King 🤴 🙌
Every transaction which is not in cash is already by definition 'digital' and the question about keeping money on a phone suggests a flawed understanding of how digital/phone banking works!
I think by qualifying money as "real" what Kenneth meant is 'significant amounts' and not paying your Playa Flemenca trader for a €5 item.
Posted: Fri Sep 1, 2023 7:47am
Very helpful member
Darro wrote on Fri Sep 1, 2023 7:27am:
Every transaction which is not in cash is already by definition 'digital' and the question about keeping money on a phone suggests a flawed understanding of how digital/phone banking works!
I think by qualifying money as "real" what Kenneth meant is 'significant amounts' and not paying your Playa Flemenca trader for a €5 item.
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Maybe true. But what percentage of transactions are done for small amount. I have no doubt the Banking organisation push for a Cashless society but in my view it a long long way off
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Posted: Fri Sep 1, 2023 2:24pm
Legendary helpful member
It’s inevitable and many years ago I read an article re Norway which has apparently implemented a very similar system with positive results. Yes, for the moment it’s necessary to keep cash for certain demographics, but this will naturally disappear. Cash is expensive to handle, prone to human error, heavy to transport and in many ways, a nuisance. As are cheques, which, when we ran a business in UK, used to fill me with loathing when Clients wanted to pay us with a piece of paper with writing on it instead of just paying us through the bank. It meant I had to drive to the town, park, go to the bank clutching the paper, stand in a queue for the machine or a cashier and in general, waste my time.
Posted: Fri Sep 1, 2023 4:17pm
Very helpful member
I'm old school. Cash is still my preferred way of paying for anything less than around €1000.
When the Greek economy went tits up the people could only withdraw about €25 a day of THEIR OWN MONEY....... the poly-ticks ("poly" meaning many and "ticks" meaning blood sucking parasites) controlled the rest.
Never trust ANY institution or ANY government with your liquid assets, do so at your peril.
Posted: Fri Sep 1, 2023 4:26pm
Legendary helpful member
So you keep your money hidden in a sock under the mattress?
This is to do with the demise of cash everywhere. UK was ahead of the EU in proposing this as is the US. UK it seems everything is paid for by card or the phone, even a cup of coffee or the daily newspaper. Even the beggars on the street now have cash machines. Lots of places for parking are by phone only and you need a different app everywhere you go. Even cards are disappearing for that sort of thing.
I do like paying for small things with cash, such as a coffee and cake or a packet of screws from the DIY shop or some flowers from the garden centre. Some bars and restaurants in UK now have signs up saying card only, no cash accepted.
I don't mind using the card to pay for things but not downloading apps to pay for things on the phone, thank you. Far too easy to access for the clever clogs who do that sort of thing.
I'll still carry cash for little things but the day will come when it will all be digital. Let's hope the people who ran the UK air traffic control don't start running the financial services.
Posted: Fri Sep 1, 2023 4:48pm
Legendary helpful member
marcliff wrote on Fri Sep 1, 2023 4:37pm:
This is to do with the demise of cash everywhere. UK was ahead of the EU in proposing this as is the US. UK it seems everything is paid for by card or the phone, even a cup of coffee or the daily newspaper. Even the beggars on the street now have cash machines. Lots of places for parking are by p...
Read more...
...hone only and you need a different app everywhere you go. Even cards are disappearing for that sort of thing.
I do like paying for small things with cash, such as a coffee and cake or a packet of screws from the DIY shop or some flowers from the garden centre. Some bars and restaurants in UK now have signs up saying card only, no cash accepted.
I don't mind using the card to pay for things but not downloading apps to pay for things on the phone, thank you. Far too easy to access for the clever clogs who do that sort of thing.
I'll still carry cash for little things but the day will come when it will all be digital. Let's hope the people who ran the UK air traffic control don't start running the financial services.
According to this morning’s paper, the ATC collapse may have been the result of Air France inputting incorrect info! So not entstandard UK incompetence for once!!
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