# theres a war on cash ? **URL:** \ **Category:** Miscellaneous and Personal Stuff I Must Share\ **Created:** [November 10, 2018, 9:21pm UTC](https://boards.straightdope.com/t/theres-a-war-on-cash/824324 "2018-11-10T21:21:51Z")\ **Posts on this page:** 20\ **Page:** 3
**Author:** ![k9bfriender](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/k9bfriender/32/3283_2.png) [@k9bfriender](https://boards.straightdope.com/u/k9bfriender)\ **Post date:** [November 13, 2018, 11:57pm UTC](https://boards.straightdope.com/t/theres-a-war-on-cash/824324/41 "2018-11-13T23:57:50Z")
> [@Alley\_Dweller](#): > > But they don’t like the fees banks charge to handle electronic transactions. Walmart and other retailers have been [waging legal wars](http://www.digitaltransactions.net/wal-mart-and-visa-settle-lawsuits-over-debit-routing-and-credit-card-interchange/) against the banks for quite some time now claiming anti-trust and price-fixing violations. > > I know that a lot of people who are not big merchants post financial analyses on the web claiming that the big merchants should be grateful for the fees because they are still cheaper than handling cash, but the merchants haven’t gotten the message. That doesn’t make much sense. It would save the merchants some if they didn’t use cash at all, but it doesn’t actually cost the merchant any more to have $100 in cash transactions vs $100,000. It does cost the merchant more to have $100,000 in credit card charges vs $100. ---
**Author:** ![Broomstick](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/broomstick/32/246_2.png) [@Broomstick](https://boards.straightdope.com/u/Broomstick)\ **Post date:** [November 14, 2018, 12:48am UTC](https://boards.straightdope.com/t/theres-a-war-on-cash/824324/42 "2018-11-14T00:48:15Z")
You’re not taking into account the cost of labor for handling cash. My store employs a worker for 6-8 (or more!) hours per day, _every_ day, in order to account for, process, and deposit cash. I know this because two days a week I’m that person. At least at our store, that is NOT a minimum wage job. So… labor costs are involved in handling cash. It does take longer to do the job as the amount of cash goes up. Processing 10,000 in cash takes less time than processing 100,000, and thus costs less due to the human labor involved. There is also the cost of monitoring the person doing the work (there are four cameras in the office in which I do that work, and Loss Prevention does random spot checks). The armored car service that picks up the deposits and takes them to the bank also costs money as well. A smaller business might have an employee take the money to the bank, but you still incur costs for that employee’s time. ---
**Author:** ![k9bfriender](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/k9bfriender/32/3283_2.png) [@k9bfriender](https://boards.straightdope.com/u/k9bfriender)\ **Post date:** [November 14, 2018, 1:29am UTC](https://boards.straightdope.com/t/theres-a-war-on-cash/824324/43 "2018-11-14T01:29:48Z")
> [@Broomstick](#): > > You’re not taking into account the cost of labor for handling cash. My store employs a worker for 6-8 (or more!) hours per day, _every_ day, in order to account for, process, and deposit cash. I know this because two days a week I’m that person. At least at our store, that is NOT a minimum wage job. So… labor costs are involved in handling cash. > > It does take longer to do the job as the amount of cash goes up. Processing 10,000 in cash takes less time than processing 100,000, and thus costs less due to the human labor involved. > > There is also the cost of monitoring the person doing the work (there are four cameras in the office in which I do that work, and Loss Prevention does random spot checks). > > The armored car service that picks up the deposits and takes them to the bank also costs money as well. A smaller business might have an employee take the money to the bank, but you still incur costs for that employee’s time. I am taking into account the cost of labor for doing cash. Back in the day when I was a fast food manager before we took credit cards too me pretty much the exact same amount of time to do cash as after we took credit cards, and we only had about 20% as much cash. Maybe shave 5% of the time off. As I said, completely removing cash will save you money. Reducing the amount of cash you handle is not going to be a a linear decrease. Handling half the cash isn’t going to save you half the labor. But, taking twice the credit card charges _does_ cost you twice the transaction fees. Strangely, it was after we went to having a much less amount of cash on hand that we started getting armored car service, before that, the manager or a trusted employee just took the deposit to the bank across the street. ---
**Author:** ![Brayne\_Ded](https://avatars.discourse-cdn.com/v4/letter/b/e9bcb4/32.png) [@Brayne\_Ded](https://boards.straightdope.com/u/Brayne_Ded)\ **Post date:** [November 14, 2018, 5:53pm UTC](https://boards.straightdope.com/t/theres-a-war-on-cash/824324/44 "2018-11-14T17:53:40Z")
> [@Dewey\_Finn](#): > > Taking the question seriously, I believe the vast majority of the US one-hundred-dollar bills are circulated outside the country, for both legal and illegal uses. I think the same thing is true for some other currencies, which is one reason why Europe is going to stop printing the 500-euro note. I’ve heard the suggestion that the US government stop printing the one-hundred-dollar bill for the same reason. I would find that annoying, because it would make even legitimate cash transactions involve a giant stack of twenty-dollar bills. > > It seems clear that the authorities in various countries would prefer transactions to be as traceable as possible. > > (One thing I’m wondering; some of those little currency counting machines can read and record the serial numbers of the banknotes as they count. I wonder if “they” are actively tracing notes by serial number to see how and where the money comes and goes.) Yup, US$ 100 bills are widely used outside the USA, including Russia, where they are almost the second national currency. Given the past history of the ruble, no wonder. Bill counters can read the serial numbers, but who uses them apart from banks? The EU wants to stop printing 500 Euro notes in what they see as a move against money laundering. Seeing as such notes are too big for ordinary everyday transactions, that won’t be the end of the world, and there is still the 200 Euro note (yes, really), but yes, there is a move to do away with cash and go electronic everything, which is of course delightfully traceable. I’m told Sweden has gone the whole electronic hog, so what happens if your Smartphone gets zapped or there is no data access? In Europe I think you could withdraw up 10,000 Euro (a bit less than US$ 10,000 at current rates) from a bank without any hassle or bureaucracy, and you can take less than that amount through an airport without being strip-searched, in fact, you don’t even have to report it until you exceed the magic figure. Dunno what happens if you win big at a European casino, although I would be quite happy to find out if someone could give me some winning tips and a bundle of starter cash. ---
**Author:** ![Slash1972](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/slash1972/32/6461_2.png) [@Slash1972](https://boards.straightdope.com/u/Slash1972)\ **Post date:** [November 14, 2018, 6:27pm UTC](https://boards.straightdope.com/t/theres-a-war-on-cash/824324/45 "2018-11-14T18:27:51Z")
> [@pkbites](#): > > Try buying travelers checks anywhere. Triple A and a lot of banks have discontinued providing them, and a lot of merchants have started refusing accepting them. > > Not real concerned about getting robbed at the airport. Been to almost 3 dozen countries and it hasn’t happened yet. That’s good. I personally just use ATMs when I travel. Seems easiest to me. ---
**Author:** ![Brayne\_Ded](https://avatars.discourse-cdn.com/v4/letter/b/e9bcb4/32.png) [@Brayne\_Ded](https://boards.straightdope.com/u/Brayne_Ded)\ **Post date:** [November 14, 2018, 10:17pm UTC](https://boards.straightdope.com/t/theres-a-war-on-cash/824324/46 "2018-11-14T22:17:34Z")
> [@Slash1972](#): > > That’s good. I personally just use ATMs when I travel. Seems easiest to me. That’s what I find, That, and credit cards. You usually only need cash for small transactions, things like buses or taxis or shopping. If you really want to schlepp that much cash, get a money belt or body pouch - if you don’t have one already. ---
**Author:** ![k9bfriender](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/k9bfriender/32/3283_2.png) [@k9bfriender](https://boards.straightdope.com/u/k9bfriender)\ **Post date:** [November 15, 2018, 12:01am UTC](https://boards.straightdope.com/t/theres-a-war-on-cash/824324/47 "2018-11-15T00:01:57Z")
> [@Slash1972](#): > > That’s good. I personally just use ATMs when I travel. Seems easiest to me. Yeah, and, surprisingly, they don’t charge you a fee for withdrawing from an ATM. They take care of all the conversion for you too. ---
**Author:** ![Max\_Torque](https://avatars.discourse-cdn.com/v4/letter/m/e9bcb4/32.png) [@Max\_Torque](https://boards.straightdope.com/u/Max_Torque)\ **Post date:** [November 15, 2018, 7:10pm UTC](https://boards.straightdope.com/t/theres-a-war-on-cash/824324/48 "2018-11-15T19:10:14Z")
> [@kunilou](#): > > From what I’ve read, literally _ **forever** _. The _700 Club_ was the foundation piece of CBN, which became the Family Channel, which became Fox Family, which became ABC Family, which became Freeform. And wherever the channel goes, to whomever it may go, the show goes with it. Robertson and company only have to pay a nominal compensation fee to the network and have shown no desire to give up the time for any amount of money. Have you seen the super-snarky disclaimers that Freeform has been putting on before The 700 Club? I’m surprised that they don’t seem to be complaining about them. They usually say something like, “Freeform is not responsible for the following program. We haven’t even seen it. Watch or don’t watch. We don’t care.” ---
**Author:** ![Mrs\_Ducky](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/mrs_ducky/32/6227_2.png) [@Mrs\_Ducky](https://boards.straightdope.com/u/Mrs_Ducky)\ **Post date:** [November 15, 2018, 8:28pm UTC](https://boards.straightdope.com/t/theres-a-war-on-cash/824324/49 "2018-11-15T20:28:12Z")
I use cash pretty much everywhere unless it’s a purchase over $100. The people in the bank that I go to know me. When I pulled up to the drive through last week, the teller greeted me with “Hi, sweety, need some cash?” I write checks for cash and do not use ATMs. I just have one credit card. Works for me. Anyplace that goes cashless will not get my business. ---
**Author:** ![Slash1972](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/slash1972/32/6461_2.png) [@Slash1972](https://boards.straightdope.com/u/Slash1972)\ **Post date:** [November 15, 2018, 8:55pm UTC](https://boards.straightdope.com/t/theres-a-war-on-cash/824324/50 "2018-11-15T20:55:33Z")
> [@Mrs\_Ducky](#): > > I use cash pretty much everywhere unless it’s a purchase over $100. The people in the bank that I go to know me. When I pulled up to the drive through last week, the teller greeted me with “Hi, sweety, need some cash?” I write checks for cash and do not use ATMs. I just have one credit card. Works for me. Anyplace that goes cashless will not get my business. If you don’t mind me asking, why do you take a check that you write to yourself to the bank to get cashed instead of using an ATM? ---
**Author:** ![Machine\_Elf](https://avatars.discourse-cdn.com/v4/letter/m/82dd89/32.png) [@Machine\_Elf](https://boards.straightdope.com/u/Machine_Elf)\ **Post date:** [November 15, 2018, 9:04pm UTC](https://boards.straightdope.com/t/theres-a-war-on-cash/824324/51 "2018-11-15T21:04:32Z")
> [@zimaane](#): > > Around here, there is a trend of smaller businesses no longer accepting cash. I guess that as most people pay with plastic anyway, the hassle of sorting, counting and depositing bills and coins isn’t worth it. Cash also creates security issues. There is the potential for theft by employees, as well as potentially violent robbery of any concentration of cash (registers, safe, etc.). > [@Mrs\_Ducky](#): > > I use cash pretty much everywhere unless it’s a purchase over $100. Why? I use my credit card for every purchase I possibly can, including paying my utility bills, insurance bills, and cell phone bills. Thanks to all the frequent-flyer miles we accumulate, my wife and I have enjoyed several free international flights over the past ten years or so. ---
**Author:** ![nightshadea](https://avatars.discourse-cdn.com/v4/letter/n/7ba0ec/32.png) [@nightshadea](https://boards.straightdope.com/u/nightshadea)\ **Post date:** [November 15, 2018, 9:26pm UTC](https://boards.straightdope.com/t/theres-a-war-on-cash/824324/52 "2018-11-15T21:26:23Z")
> [@Max\_Torque](#): > > Have you seen the super-snarky disclaimers that Freeform has been putting on before The 700 Club? I’m surprised that they don’t seem to be complaining about them. > > They usually say something like, “Freeform is not responsible for the following program. We haven’t even seen it. Watch or don’t watch. We don’t care.” I used to find it funny wondering if if pat ever watched freeform programming …… sometimes it would show up in the middle of a marathon for some racy for Disney programming like “the fosters” which was pretty much a LBTGQ soap opera then ol pat and co would come on bitching politely about gay rights and the evils of homosexuality but yet the episode I just watched was pretty much soft core teenage romance (the sorta black girl was on a date at the beach wearing as little as Disney let get away with with another teenage girl and spent most of episode playfully sorta petting and making out stopping just shy of anything r rated…… since it was the first female date of the other girl ) I always thought CBN was some channel I didn’t get on my cable system because when 700 club comes on they make it sound like "we now take you yo CBN programming all ready in progress " right before I change the channel ---
**Author:** ![Muffin](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/muffin/32/4341_2.png) [@Muffin](https://boards.straightdope.com/u/Muffin)\ **Post date:** [November 15, 2018, 10:02pm UTC](https://boards.straightdope.com/t/theres-a-war-on-cash/824324/53 "2018-11-15T22:02:10Z")
> [@Brayne\_Ded](#): > > I’m told Sweden has gone the whole electronic hog, so what happens if your Smartphone gets zapped or there is no data access? Use another phone or computer with an internet connection. If that fails, see if they will take a promissory note. If they will not, get on their phone to your bank and have the bank release funds to them. If that does not work, tell them what you want them to make you for dinner and ask them which bedroom you will be sleeping in. ---
**Author:** ![Muffin](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/muffin/32/4341_2.png) [@Muffin](https://boards.straightdope.com/u/Muffin)\ **Post date:** [November 15, 2018, 10:20pm UTC](https://boards.straightdope.com/t/theres-a-war-on-cash/824324/54 "2018-11-15T22:20:34Z")
For example, about a year and a half ago my [vehicle burned](https://images2.imgbox.com/1b/ad/T7yZ7Bjc_o.jpg) an hour from nowhere. A kindly cop let me hitch a ride with him to Nowhere, leaving me with no cash, no cards, and no ID. I went to a bank and asked them to call my bank. My bank used voice recognition to determine who I was. My bank moved money to the bank in Nowhere, which issued a temporary debit card that I used to get some cash for food, and my bank spoke with Visa to have it send electronic funds to the e-ticket only bus company company so that I was able to get the hell out of Nowhere. I’m a big fan of having more than one type of card as well as cash. My mistake was in having them all locked in the glove compartment. Now I’ve added dispersion of funds and ID to the list, 'cause sooner or later Murphy will bump into me again. ---
**Author:** ![k9bfriender](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/k9bfriender/32/3283_2.png) [@k9bfriender](https://boards.straightdope.com/u/k9bfriender)\ **Post date:** [November 15, 2018, 10:34pm UTC](https://boards.straightdope.com/t/theres-a-war-on-cash/824324/55 "2018-11-15T22:34:25Z")
> [@Machine\_Elf](#): > > Cash also creates security issues. There is the potential for theft by employees, as well as potentially violent robbery of any concentration of cash (registers, safe, etc.). > > Why? I use my credit card for every purchase I possibly can, including paying my utility bills, insurance bills, and cell phone bills. Thanks to all the frequent-flyer miles we accumulate, my wife and I have enjoyed several free international flights over the past ten years or so. As a merchant, I don’t really get the whole idea behind rewards cards. Or rather, I do, I just don’t like it, maybe. If you have a rewards card, that reward that you get comes directly out of the higher transaction fee. Basically, they are rewarding you with the merchant’s money. That said, I have a rewards card myself, which I use for all my business purchases. As I have said to my bank about them, it’s like a scam, but it’s a scam that you can get in on. Of course, I’ve never turned mine in for miles or points or anything like that, just cash. ---
**Author:** ![Muffin](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/muffin/32/4341_2.png) [@Muffin](https://boards.straightdope.com/u/Muffin)\ **Post date:** [November 15, 2018, 10:39pm UTC](https://boards.straightdope.com/t/theres-a-war-on-cash/824324/56 "2018-11-15T22:39:34Z")
Swiss America sells bullion. I expect that would appeal to Libertarians/Conservatives, fondly looking back to the gold standard, as well as folks who buy end-of-world buckets of food from Jim Bakker (the PTL Club convict). Smart move of Swiss America’s part. ---
**Author:** ![Mrs\_Ducky](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/mrs_ducky/32/6227_2.png) [@Mrs\_Ducky](https://boards.straightdope.com/u/Mrs_Ducky)\ **Post date:** [November 16, 2018, 11:35am UTC](https://boards.straightdope.com/t/theres-a-war-on-cash/824324/57 "2018-11-16T11:35:50Z")
> [@Slash1972](#): > > If you don’t mind me asking, why do you take a check that you write to yourself to the bank to get cashed instead of using an ATM? Less chance of fraud. We were victims of identity theft in 2001. Haven’t had a problem since. I don’t have a debit card either. I don’t do on line banking other than to check my balances. Call me old school, I guess, but it works for me. 😃 ---
**Author:** ![Machine\_Elf](https://avatars.discourse-cdn.com/v4/letter/m/82dd89/32.png) [@Machine\_Elf](https://boards.straightdope.com/u/Machine_Elf)\ **Post date:** [November 16, 2018, 12:50pm UTC](https://boards.straightdope.com/t/theres-a-war-on-cash/824324/58 "2018-11-16T12:50:38Z")
> [@k9bfriender](#): > > As a merchant, I don’t really get the whole idea behind rewards cards. That’s because they don’t exist for the benefit of merchants; they are intended to incentivize customers to use that particular CC, as opposed to cash or some other card. > [@k9bfriender](#): > > If you have a rewards card, that reward that you get comes directly out of the higher transaction fee. Basically, they are rewarding you with the merchant’s money. If a merchant accept credit cards, then the transaction fees must be baked into the prices of all the items he sells. So it’s not really the merchant’s money, it’s the customers’ own money. The existence of CC rewards must surely jack up CC transaction fees overall, which raises prices for _all_ customers, whether their using a rewards CC, a non-rewards CC, a debit card, or cash/check. Tragedy of the commons means that rational actors should want to use a rewards CC card to maximize their own benefit, to the detriment of customers who do not use a rewards CC. This is why I am puzzled by (and simultaneously grateful toward) people who proudly claim to use credit/debit cards as little as possible. ---
**Author:** ![elbows](https://avatars.discourse-cdn.com/v4/letter/e/b3f665/32.png) [@elbows](https://boards.straightdope.com/u/elbows)\ **Post date:** [November 16, 2018, 2:27pm UTC](https://boards.straightdope.com/t/theres-a-war-on-cash/824324/59 "2018-11-16T14:27:38Z")
I thought rewards cards were created so you’d allow them to track all your spending on that card. You produce data that they can then sell/exploit. We don’t collect any points or air miles, mostly because it doesn’t seem worth the hassle to my mind. I constantly hear people bitch about not being able to book the flights they want with their miles. They seem to be always upset about something, and I don’t need that extra bother when I’m booking tickets. ---
**Author:** ![Slash1972](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/slash1972/32/6461_2.png) [@Slash1972](https://boards.straightdope.com/u/Slash1972)\ **Post date:** [November 16, 2018, 2:36pm UTC](https://boards.straightdope.com/t/theres-a-war-on-cash/824324/60 "2018-11-16T14:36:00Z")
> [@Mrs\_Ducky](#): > > Less chance of fraud. We were victims of identity theft in 2001. Haven’t had a problem since. I don’t have a debit card either. I don’t do on line banking other than to check my balances. Call me old school, I guess, but it works for me. 😃 Ok. Thanks for answering! [Previous page](https://boards.straightdope.com/t/theres-a-war-on-cash/824324.md?page=2) [Next page](https://boards.straightdope.com/t/theres-a-war-on-cash/824324.md?page=4)