Cash is King or Not?

Turnip

Turnip

Member
Mixed Farmer
Location
Aberdeenshire
Lincoln75 said:
The majority are men of fighting age , run away from warzones .......and left their wives and kids to deal with the shoite , utter utter scum by the boat load.
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Majority of those men left their families to find a better future, create a base, and then get their wife and kids over. Not really useful to send over a minor and expect them to sort out how to get the rest of the family over.
 
S

stewart

Member
Horticulture
Location
Bay of Plenty NZ
Highland Mule said:
So do you have a merchant account yourself, or are you just guessing?
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I no longer use an EFTPOS machine as we had very little going through it, I rang the bank manager this morning to check if I had it correct with the payments going through being instant, fortunately he starts work at 6:30 so was easy to get hold of.
Once a payment is made it shows as going out of the Payers account immediately, to test this when I bought my morning cup of coffee I had the bank app open and lo and behold it is instant, the very second I pressed the button on the terminal it shows up paid at the bank. I obviously could not check the Payees account but the manager assures me it will also show there to, although to be absolutely correct the transactions are all cleared overnight with the accounts being debited and credited the day they were transacted so no holding on to the funds and gaining interest.
The costs of the transactions are with the Payee who rents the terminals from a third party, there are no bank costs for the transactions although we do pay a monthly account fee.
 
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S

stewart

Member
Horticulture
Location
Bay of Plenty NZ
TheTallGuy said:
I've just had a read up on Eftpos transactions in NZ & according to both the primary processors settlement is usually end of trade/overnight and can be affected by weekends etc, so is not an instant transaction into the bank account of the merchant. A few years back the law was changed here such that businesses couldn't pass on the higher fees that credit card transactions attract, so many just refuse credit cards altogether.
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I have checked this with the bank this morning and you are correct, see post above. Transations paid on line are instant if with the same bank and take a couple of hours if different banks for Payer and Payee are used, when using EFTPOS the amount is shown although not technically cleared until overnight.
 
S

stewart

Member
Horticulture
Location
Bay of Plenty NZ
Lincoln75 said:
You said
"It’s quite handy for the payment to be instant when the seller needs to know he has been paid before you take your purchase away. Once bought a car from a dealer, as the dealer was a few hours away from home and not one I had dealt with before he needed to see payment before I could drive the car away, easy, pay with card, go for a cup of coffee, come back, payment gone through, drive home."

So he wasn't guaranteed the money until it hit his account , in the UK we are guaranteed the money as soon as the PDQ prints the receipt , sounds like you have a slow antiquated system there , you want to get into the 21st century :ROFLMAO:
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I know it must be difficult to accept that your banking system is still in the dark ages with much of the rest of the world having a more advanced system, and I know that my next comments will be construed as anti British, I can assure you they are not intended that way as I do like the UK however those of a precious disposition take every little comment as being anti.
The British are notoriously slow at adapting and do not like change, it took aver a 100 years for the UK to adopt the decimal system, you still haven't grasped the concept of rounding, reading this forum many still pay with cheques and want to keep paying with cash, I cannot see it being a cashless society for many years. We are well into the 21st Century which for me anyway is preferable to the 18th ;)
 
FonterraFarmer

FonterraFarmer

Member
Location
Waikato, New Zealand
stewart said:
Isn't it running round the streets shirtless with a belly full beer singing "It's coming home" when you make the final sixteen.
Oh dear! That may sound as British bashing, hopefully the British can take a bit of sledging and their renowned sense of humour shines through.
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They could be a wee bit more civilised, drink a couple of good bottles of red wine over lunch... 😉😆
 
Sharpy

Sharpy

Member
Livestock Farmer
Location
Ardrossan Ayrshire
stewart said:
Isn't it running round the streets shirtless with a belly full beer singing "It's coming home" when you make the final sixteen.
Oh dear! That may sound as British bashing, hopefully the British can take a bit of sledging and their renowned sense of humour shines through.
Click to expand...
stewart said:
Isn't it running round the streets shirtless with a belly full beer singing "It's coming home" when you make the final sixteen.
Oh dear! That may sound as British bashing, hopefully the British can take a bit of sledging and their renowned sense of humour shines through.
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I think you will find that is a description of Englishness, not Britishness, you Australians need to differentiate.
 
Highland Mule

Highland Mule

Member
Livestock Farmer
Location
Scottish Highlands
stewart said:
I no longer use an EFTPOS machine as we had very little going through it, I rang the bank manager this morning to check if I had it correct with the payments going through being instant, fortunately he starts work at 6:30 so was easy to get hold of.
Once a payment is made it shows as going out of the Payers account immediately, to test this when I bought my morning cup of coffee I had the bank app open and lo and behold it is instant, the very second I pressed the button on the terminal it shows up paid at the bank. I obviously could not check the Payees account but the manager assures me it will also show there to, although to be absolutely correct the transactions are all cleared overnight with the accounts being debited and credited the day they were transacted so no holding on to the funds and gaining interest.
The costs of the transactions are with the Payee who rents the terminals from a third party, there are no bank costs for the transactions although we do pay a monthly account fee.
Click to expand...

So pretty much the same as here then. Instant out when the merchant requests, and a possible delay for credit depending on the transaction system employed. Interesting that you think charges are on a monthly basis with no fee per dollar/ transaction - this differs from my understanding of the worldwide charging structure for VISA etc. and if true would create opportunity for very profitable abuse/ arbitrage.

As for the international bickering, I'm out.
 

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