Scottish Elises

An interesting article...

https://www.theguardian.com/commentisfr ... EqAQ163rc4

I’ve not noticed any reduction in the number of cash machines available?

I have. As simple as when a bank branch shuts.

Interesting article. But this at the end made me chuckle:



Cashless donation pls. Somewhat hypocritical, no?!

Interesting article. Agree there is marketing bull and transaction tracking is for intuitions capital gain ... but i do find contactless payments from my debit card very convenient. I am against these contactless payments methods from smartphone-to-till (whatever its called), dont trust the OS running the app is my gut feeling.

Working for a bank, cost per transaction and processing costs.
Digital payments logistically is easy once you have the infrastructure, cash isnt for many reasons therefore expensive to process.

But of course the customer is always right, just have to persuade them or use statistics to convince them its right

Pushing paperless now cos of course it is what you want, saves the environment etc etc just a nice benefit it is probably 1/100th of the cost of printing and posting !

Cash usage is dropping fast. Down to 3/10 of transactions from 6/10. Expectation is to drop to 1/10 in the next 10 years.

It isn't viable to run cashpoints for 22.5p per transaction if they aren't heavily used. So inner city cash points are plentiful still but rural towns and poorer areas are seeing ATMs removed at a steady rate.

We let the banks off the hook and pushed the problem onto a bunch of independents. At some point the regulator will get pissed off but by then the ATMs will be gone.

Cheers,
Robin

I was overhearing a couple of students in a coffee shop in Perth, discussing how strapped they were after a night out, just tapping their card to get a drink and not realising how much they had spent. Now having to cut their next weeks spending due to the night out.

Obviously this happened previously but when cash was involved (as long as you did not revisit the atm) then you would reach into their pocket and realised they were down to their last £5 note. Due to contactless payments the reality of how much you have left goes out the window.

There is definitely a different shift on how money is viewed by the younger generation, they do not view the new Mini in the showroom as £18k, they just see it as £239 for 48 months.

douglasgdmw wrote: ↑

Mon Jan 28, 2019 8:41 am

There is definitely a different shift on how money is viewed by the younger generation, they do not view the new Mini in the showroom as £18k, they just see it as £239 for 48 months.

When the neighbours 18 year old comes home in a brand new Scirocco ....

Our kids use marbles for currency. Makes it VERY real...

Every teen passing their test is looking for a new Mini/ Polo/ Audi. Gone are the days of bangernomics and 1st cars costing £250!

scott_e wrote: ↑

Mon Jan 28, 2019 8:52 am

douglasgdmw wrote: ↑

Mon Jan 28, 2019 8:41 am

There is definitely a different shift on how money is viewed by the younger generation, they do not view the new Mini in the showroom as £18k, they just see it as £239 for 48 months.

When the neighbours 18 year old comes home in a brand new Scirocco ....

They still make Sciroccos...

Rag_It wrote: ↑

Mon Jan 28, 2019 4:16 pm

They still make Sciroccos...

Was a couple of years back to be fair but still.

"bangernomics" great phrase.

Its frustrating being sensible sometimes

campbell wrote: ↑

Mon Jan 28, 2019 11:45 am

Our kids use marbles for currency. Makes it VERY real...

Marbles will seem very real when we return to trading baubles for ivory, gold and slaves ...

I wonder whether we'll play history backwards or forwards from there?



Cheers,
Robin

Perhaps a generational thing too. I still find it strange when I see people using contactless in the cafe at work for things that cost less than £1. Contactless is great, but I just can’t bring myself to use it to pay for things that cost 20p.

j2 lot wrote: ↑

Mon Jan 28, 2019 3:30 pm

Every teen passing their test is looking for a new Mini/ Polo/ Audi. Gone are the days of bangernomics and 1st cars costing £250!

£250 my 1st car was £20 still sold it four years later for £900! Wheeler Dealer