OT: No Cash accepted

[MattTuck]

Originally Posted by jh_on_the_cape

Can you get pre-paid debit cards that are anonymous? I am asking for my friend... Jason Bourne!

You used to be able to, I think. But not anymore. I believe if you get a prepaid debit card (different than a gift card), you have to register it online before you use it.

[jh_on_the_cape]

In this post-apocalyptic scenario the currency will be... bartering. And bullets. And carbon fiber and titanium!

Originally Posted by sitzmark

In that case gold has value only to the extent that someone values it more than wampum. Gold has industrial use, so some intrinsic value where wampum doesn't, but outside of an industrial use (that will probably be shut down in such an environment) gold has no guaranteed value. How do you get "change" for (what was) a $1,000+ krugerrand when buying emergency staples in a melt down? A paper IOU from the merchant? Cut the coin into small pieces? What is the value of each piece? Cut a small piece into a smaller piece to buy just a loaf of bread?

The value of US tender might very well devalue significantly in a great depression, but more than likely it devalues equally for everyone. i.e. $1.00 is only worth $.10, so relative purchasing power remains similar.

[chiasticon]

Originally Posted by charliedid

Curating the class of your customer base by going cashless.

or by, you know, being a salad-specific restaurant with $15+ salads...

what percentage of the population has no bank account (and hence debit card) whatsoever? what percentage of them would eat in such a restaurant?

I don't see it as class warfare. it's just knowing your clientele.

[sparky33]

"Meanwhile, Sweetgreen’s policy raises delicate issues about excluding certain groups of people—particularly seniors or low-income people who use only cash—from its stores."

That is amusing. Yes, I'm sure that old or poor people are bummed because they can't get a shroomami at Sweetgreen.

Though the question of cash in a more general setting is an interesting one.

Originally Posted by Chris

My first thought was that that is pretty cool and convenient. But as I thought about it and, as you pointed out, that can be somewhat discriminatory whether that’s intended or not. I don’t feel great about that for sure, or about the number of tiles I used ‘that’ in a paragraph.

[FlashUNC]

White collar salad place is not the place to worry about class warfare.

Why the white collar salad place proliferates while others along the spectrum whither is worth a deeper discussion about the shrinking middle class.

The method of payment is just a symptom of the larger issue at play.

[Ozz]

Originally Posted by Mzilliox

this is legal huh? its legal to not accept legal tender? weird... the economy really isn't real.

It would probably fall under "right to refuse service".....

Cash is frankly a PITA for most businesses to deal with...dirty, heavy, hard to track, requires dual control with handling, armored transport to the bank...banks charge quite a bit for businesses to deposit cash.

Businesses pushing cashless see a benefit by streamlining the revenue processing (accounting, bank deposits, cash forecasting, less fraud, lower costs, etc).

There is a good chance that businesses that prefer cash are typically not reporting all their income....so the taxman likes electronic payments as well.

As noted earlier, changing demographics of consumers are pushing this as well...younger folks don't wear watches and they don't want to carry a wallet. Everything done via mobile is preferred.

I use credit card for nearly everything as I can get reporting on my spending and miles to use for travel. I primarily carry cash to pay for lunches (small mom/pop shops that probably don't report all income, but keep prices low so I use cash) and my haircuts (notorious for not reporting all income), and to toss into tip jars on counter.

That's my $0.02....tip included.

[Hilltopperny]

I wouldn’t frequent such a place. I have a debit card and bank accounts, but still prefer cold hard cash for monetary transactions over using plastic. I feel it is just another way to take consumer buying habits and track them.

I also have a better account of what I’m spending whilst using cash. Swiping a card makes it less likely that I’ll pay attention to the amount I’m spending.


Sent from my iPhone using Tapatalk

[sparky33]

I heard that small business may prefer cash because fees for card payment processing can be disproportionately large on small transactions at mom&pop businesses.

Originally Posted by Ozz

There is a good chance that businesses that prefer cash are typically not reporting all their income....so the taxman likes electronic payments as well.

[Rada]

Originally Posted by Jaybee

Actual cash bills may be a physical entity, but the value backing it is trust in the US government, which is no more physically real than 1s and 0s. I would argue that 1s and 0s are in fact more tangible and more easily subject to objective independent verification.

Don't forget more easily subject to manipulation.

[Ozz]

Originally Posted by sparky33

I heard that small business may prefer cash because fees for card payment processing can be disproportionately large on small transactions at mom&pop businesses.

very true....card payment interchange and fees can be tough on small businesses.

[William]

Originally Posted by sparky33

"Meanwhile, Sweetgreen’s policy raises delicate issues about excluding certain groups of people—particularly seniors or low-income people who use only cash—from its stores."

That is amusing. Yes, I'm sure that old or poor people are bummed because they can't get a shroomami at Sweetgreen.

Though the question of cash in a more general setting is an interesting one.

Interesting comment, I'm neither poor or a senior but I still use cash a good percentage of the time. I also use CC's, have bank accounts, and do not have a debit card. I like salads, but if I have to have an app to get one...eh, I'll get a salad somewhere else.






William

[oldpotatoe]

Originally Posted by jh_on_the_cape

In this post-apocalyptic scenario the currency will be... bartering. And bullets. And carbon fiber and titanium!

And water. And fuel. But yup, lotsa guns and ammo.

[sparky33]

Uh, maybe I should clarify. I am poking fun at the fact that Sweetgreen caters to a specific segment of well-to-do yoga/bar/spin types. So it is amusing that they would feign concern, as the quoted article text states, for alienating people who would never want to be their customers.

I am not saying that using cash or card has anything to do with one's economics or age.

Originally Posted by William

Interesting comment, I'm neither poor or a senior but I still use cash a good percentage of the time. I also use CC's, have bank accounts, and do not have a debit card. I like salads, but if I have to have an app to get one...eh, I'll get a salad somewhere else.






William

d

[William]

Originally Posted by sparky33

Uh, maybe I should clarify. I am poking fun at the fact that Sweetgreen caters to a specific segment of well-to-do yoga/bar/spin types. So it is amusing that they would feign concern for alienating people who would never want to be their customers.

I am not saying that using cash or card has anything to do with one's economics or age.

I was just commenting on the part that was in quotation marks that was in your response...

"Meanwhile, Sweetgreen’s policy raises delicate issues about excluding certain groups of people—particularly seniors or low-income people who use only cash—from its stores."

William

[FlashUNC]

Originally Posted by William

Interesting comment, I'm neither poor or a senior but I still use cash a good percentage of the time. I also use CC's, have bank accounts, and do not have a debit card. I like salads, but if I have to have an app to get one...eh, I'll get a salad somewhere else.






William

Genuinely curious, how do you access your cash without a debit/ATM card?

Are you still writing out withdrawal slips and going to the branch?