"Sorry we do not accept cash."

[biometrics]

Because then all the problems cash brings still remains.

ATM’s needing refilling and insurance and security and getting bombed.

Cash in Transit heists.

Money laundering.

General illegal activities as a whole etc.

It also makes everything more expensive just through existing.

Cash isn't going away for the majority of people in SA any time soon.

When you see the ATM queues at Capitec then you realise people are drawing cash rather than using their debit card at the POS. Not sure if they don't know this, don't trust it or it's cheaper. No idea. But I often see long queues here in Her*anus at the two Capitec ATMs I pass by.

 

[SauRoN]

Cash isn't going away for the majority of people in SA any time soon.

Doesn’t detract from the fact that it should and would be of great benefit worldwide.

You’ll be amazed how many unbanked folk are on that fancy digital currency you hate so much, it may just go away sooner than you think.


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[biometrics]

Doesn’t detract from the fact that it should and would be of great benefit worldwide.

You’ll be amazed how many unbanked folk are on that fancy digital currency you hate so much, it may just go away sooner than you think.


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You missed my edit:

When you see the ATM queues at Capitec then you realise people are drawing cash rather than using their debit card at the POS. Not sure if they don't know this, don't trust it or it's cheaper. No idea. But I often see long queues here in Her*anus at the two Capitec ATMs I pass by.

And as to these people using crypto, LOL!

 

[SlinkyMike]

Because then all the problems cash brings still remains.

ATM’s needing refilling and insurance and security and getting bombed.

Cash in Transit heists.

Money laundering.

General illegal activities as a whole etc.

It also makes everything more expensive just through existing.


Sent from my iPhone using Tapatalk Pro

Hmm.. several good points. I guess it's time to retire my grandad's money clip.

 

[satanboy]

I always have some cash. But the R200 note in there must have been there for a year now.

Is that for the snorting of party favours?

 

[Dave]

You’ll be amazed how many unbanked folk are on that fancy digital currency you hate so much, it may just go away sooner than you think.

Crypto?

LOL

Probably around 0.1% of the world's population.

 

[biometrics]

Is that for the snorting of party favours?

Haven't snorted anything in a decade.

 

[SauRoN]

Crypto?

LOL

Probably around 0.1% of the world's population.

There is a weird trend inside the crypto world specifically in Africa and South America where there are more users with small wallets (by holdings) but with high transaction rates than there are the ones people tend to expect with low number of wallets but massive holdings.

People like cash for the directness of it leaving the middle man out of it. Crypto isn’t all that different in this regard.

Crypto at present is sitting at about 4% of the world population in active users. You clearly haven’t been paying attention to just how much the world is shifting towards it.

Nigeria has basically gone all in with crypto for commerce.


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[satanboy]

Haven't snorted anything in a decade.

I'm sorry.

 

[biometrics]

Crypto at present is sitting at about 4% of the world population in wanna get rich quick speculators

There, fixed it to reflect reality.

 

[SauRoN]

There, fixed it to reflect reality.

Speculators don’t transact with their crypto.


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[SauRoN]

Hmm.. several good points. I guess it's time to retire my grandad's money clip.

I think we are still a long way away from it and likely you’ll be in the grave before it happens.

But it’s coming and bizarrely Africa might even get there first or lead the charge with Asia and others.


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[SlinkyMike]

But it’s coming and bizarrely Africa might even get there first or lead the charge with Asia and others.

Actually not surprising. Circa 2016 in the SA startup scene it was all fintech projects that were getting attention, many of them from Nigeria and other emerging African nations. I am a little further away from it now but I'm sure it's not changed much.

Thymebank are a massive inspiration in this area. Their whole philosophy around access and how it has been implemented in their solutions is just sublime.

 

[scudsucker]

I always have some cash. But the R200 note in there must have been there for a year now.

I rarely have cash.

I did have a R200 a few months ago, a friend of mine "needed a banknote" and I never saw it (or her) again that night.

 

[Blantyre]

Cash is legal tender, I don't see how they can refuse it. That said, cash is disgusting, I haven't used it for I guess ten years, except last year when the bootlegger wanted cash

It's best to keep a small amount of cash with you (like R500). I mainly use my card where possible but cash is still valuable because every now and then, it's likely that you will come into a situation where cards are not accepted. I also use cash for isolated stores as this tends to be where cards are cloned.

 

[Johnatan56]

It's best to keep a small amount of cash with you (like R500). I mainly use my card where possible but cash is still valuable because every now and then, it's likely that you will come into a situation where cards are not accepted. I also use cash for isolated stores as this tends to be where cards are cloned.

Still very strange that in my head R500 is a lot of money to in cash, yet I spend that without issue pretty often.
Guess growing up and going to watch cinema, have dinner for two with R100 is still stuck inside my head, yet when I last went to the cinema, R100 was barely a ticket, and skipped having cash for that and instead always had a card for such an amount.

Meanwhile here I carry 200 EUR and feel fine, it's 5 notes since small denomination as well, in South Africa with R3500 I'd have such a fat wallet I'd be freaking out (usually 35 R100 bills).

 

[biometrics]

Still very strange that in my head R500 is a lot of money to in cash, yet I spend that without issue pretty often.
Guess growing up and going to watch cinema, have dinner for two with R100 is still stuck inside my head, yet when I last went to the cinema, R100 was barely a ticket, and skipped having cash for that and instead always had a card for such an amount.

Meanwhile here I carry 200 EUR and feel fine, it's 5 notes since small denomination as well, in South Africa with R3500 I'd have such a fat wallet I'd be freaking out (usually 35 R100 bills).

I remember 1/2c coins. And there were two sizes!

 

[Blantyre]

Still very strange that in my head R500 is a lot of money to in cash, yet I spend that without issue pretty often.
Guess growing up and going to watch cinema, have dinner for two with R100 is still stuck inside my head, yet when I last went to the cinema, R100 was barely a ticket, and skipped having cash for that and instead always had a card for such an amount.

Meanwhile here I carry 200 EUR and feel fine, it's 5 notes since small denomination as well, in S

Also, I forgot to mention but it's also worth just keeping cash for car guards. I usually give them a coin if they help with parking and take the trolley away.

Generally when shops insist on cash or I use the isolated stores (typically the oned owned by Pakistanis etc), I don't spend a lot, usually R100 or less so the R500 usually lasts a few weeks. Sometimes up to a month.

 

[EADC]

Also, I forgot to mention but it's also worth just keeping cash for car guards. I usually give them a coin if they help with parking and take the trolley away.

Generally when shops insist on cash or I use the isolated stores (typically the oned owned by Pakistanis etc), I don't spend a lot, usually R100 or less so the R500 usually lasts a few weeks. Sometimes up to a month.

I miss car guards.

 

[satanboy]

I miss car guards.

You'll need a better gun in that case.