Bank doesn't want to bank anymore, stops dealing in cash.

constitutionus

yup, through the bank!:D which brings us back to square one. how do you lodge money to pay your bills if the bank or anyone else wont take it? the problem with a cashless society is at some stage you actually must have something in your hand thats actually worth something, other wise someones just commiting fraud on a computer. all this cash didnt just appear, its tied to a physical substance. in the case of the USA , gold. the same with the UK. and all other currencies base themselves againts those in one form or another. technically speaking you should be able to go into the UK central bank and cash your fiver sterling in for a fivers worth of gold

vector

a bank is... at the end of the day... a business.

just like any other businesss, be it a furniture manafucturer, telephone operator, or newsagent, its primary goal is profit, indeed it is publically listed, and shareholders closely monitor its minute by minute profit levels.

now, in the past it had to deal in cash, but this requires many staff, and again, to generalise, the highest cost to most businesses is staff salaries, so the bank want to drop staff, and to switch people to online banking/laser cards.

the govt, agree, the increased profit levels of the bank increase its corporation tax intake, and the increased share price increase its 1% irish share tax.
indeed the govt are happy to say goodbye to cash, their eventual vision is for a cashless society where there can be very little tax evasion.

RainyDay

Dooom wrote:

Someone here had an idea a while back on another thread that involved the key or whatever openy-thingy for the safe to be distributed among several staff on a random basis. Therefore making getting the key a hell of a lot harder.

Made sense to me at the time anyway.

So what happens when the current keyholder gets a call from the manager telling him/her that the manager's wife & kids will get shot/stabbed/raped if the doesn't appear within 15 minutes?

sign

What really sickens me a lot is the totally unfair atm card stamp duty tax applied across the board to every account and to anyone who tries to be cashless with a laser card , atm card or credit card.

Its the most unfair tax going . One time it cleared out the remaining money in my bank account .
We are being ripped off often enough and then this tax arrives of which Im frankly surprised people are not up in arms about !!!

antoinolachtnai

Maybe it's totally unfair but it's been there for decades. It was originally a tax on transactions. There has been stamp on cheques for at least 50 years.

The problem I have with it is that it's a tax on competition in the banking market. It makes it very hard for new entrants.

The thing about cash is that it is pretty expensive to handle, for everyone, including the government to some extent.

This stuff about money in a bank account having to be matched by 'real' money or silver, or gold, or whatever, is pure bunkum. That's what the argentinians had, and look how they ended up.