Cash is King or Not?

fgc325j

Member
They have recently informed me that they are also going for two tier authentication for some card transactions from now on. That will involve both the current PIN or biometric plus a code sent to your mobile phone, presumably to be entered into the card reader like the PIN number, only being a random number. This will probably apply to payments greater than £100 or it will be too intrusive at smaller retail outlets. Possibly for 'customer not present' phone sales, which would eliminate the possibility of crooked retailer staff re-using card details fraudulently. May
At the moment getting a 6 figure code, by txt, is the 4th layer of security i have to go through, to log into my online bank account,
Amazon as well need a code each time i log on. If, like me, your in a weak mobile signal area, and have to go outside the house to
get a signal, then it is a right PITA.
 

TheTallGuy

Member
Location
Cambridgeshire
At the moment getting a 6 figure code, by txt, is the 4th layer of security i have to go through, to log into my online bank account,
Amazon as well need a code each time i log on. If, like me, your in a weak mobile signal area, and have to go outside the house to
get a signal, then it is a right PITA.
Never needed that for Scamazon... & online banking only needs my thumb print.
 

Cowabunga

Member
Location
Ceredigion,Wales
Never needed that for Scamazon... & online banking only needs my thumb print.
Yes, that's the case for me as well. So far. The mobile works quite well in the house these days because it gets its signal through the wi-fi and land line even though the mobile signal is non existent on the ground floor of the house.
Banking does require the use of a credit card and card reader which produces a code for input when paying someone new. Probably very secure.
 

Lowland1

Member
Mixed Farmer
And they can pay the workers which is normally family cash so they can still claim benefits
No I think it’s a cultural thing. There’s no benefit system in Kenya and in Branston other than the cook and one other everyone else is a local. I think they just like the feel of cash. My great grandfather built his retirement bungalow with cash he’d made selling pigs on the black market. Apparently whenever he needed to pay a bill he’d disappear upstairs and come back with a few perfectly ironed fibers from under the mattress. We always sell our wheat for cash as you can never be sure of the buyers but then take it to the bank but occasionally we will hide a bit around the house often we forget where it is and it’s a new surprise to find a wad of cash you didn’t know you had a few months later.
 

stewart

Member
Horticulture
Location
Bay of Plenty NZ
Eliminating cash allows all the banks to close ever more branches, you never appreciate what you have until it has all gone, the days of starting a business by seeing your local manager have already disappeared so what chance do youngsters especially in farming have now?
There really is no need for a local branch, minor issues can be done online, over the phone or via e mail. We can still see a bank manager if required, it just involves a trip to the main centre branch or they come out to us. Times change and whilst it is not always for the better you have to adapt and change with them.
 

egbert

Member
could that paper version disappear?
as I posted earlier...I've little doubt that a portable 'solid' currency would replace whatever gov does away with.
USD - which were the de facto hard currency in various E. European countries before the wall came down- or now, mebbe Euros , or the last resort....gold.

In the absence of any such system of hard value, in your hand, there are real problems for society, if I understand human nature correctly.
 

stewart

Member
Horticulture
Location
Bay of Plenty NZ
we haven’t had authentication codes here for at least 10 years or probably more . . .

we’ve had online banking for at least 30 years now.

I have NEVER had any security issues or fraudulent action on any online banking, debit card or tap & go transaction. A friend of my wife once had a dodgy claim on her credit card from Dubai or somewhere ( she wasn’t there ), but the bank refunded it . . .
Only had one dodgy attempt on the Credit Card bank rang to ask if I was overseas using my card, confirmed I wasn’t so transaction didn’t go through. Banks monitor transactions to attempt to reduce fraud.
 

Y Fan Wen

Member
Location
N W Snowdonia
Cash. The bane of my life!

People brandishing 'readies' like they're some kind of big noise are always a PITA. Live in the now. Cash is a pest - it takes time to handle, you have to mess around counting it, it costs you to bank it. BACS is king, card is convenient.

In addition, the attitude of the cash baboons is always the same - total and utter incredulity when the intended recipient is either:
A) Unimpressed
B) Unwilling to accept it

Yes, I understand you want to get rid of your undeclared, tax-evading egg/horse hay bale/wild camping cash... but don't make it my problem.
YOU trail to town
YOU bank it
YOU pay the 1% fee
...then buy things in the regular 2021 way like everyone else does. Nobody is amazed by your pathetic wad. If it fits in your pocket, it's an unimpressive amount. 'Oooh, look at that! What are you? A hundredaire? Bless you.

And while you're at it, chuck you chequebook in the bin. Cheques are just stupid. They're slow and they're a nuisance to fill in. Worse, they now take 13 working days to clear, here, as I have to pay them in at the post office as the local HSBC closed.
Posts like this always puzzle me. We are all (mostly) businessmen here. Our job is getting money from people for goods and services. Why on earth would you put obstacles in their way? I'm happy to be paid in cash, cheque or BACS and I have no problem in handling any of them.
Conversely, if I have a problem with making any of my purchases, the chances are that that is the last transaction I will make with them. I have posted a cheque for 7k to a business with a covering letter making my order. I got the cheque back with a note telling me to ring their call centre. I didn't. Another company got the benefit of my 7k. There is always someone else who 'is' hungry for my money.
BTW all my cash income does go through the books.
 

stewart

Member
Horticulture
Location
Bay of Plenty NZ
Your posting on a U.K. forum. Might of helped if you had posted where you were from in your first post as your point is irrelevant for this country where cheques are prevalent. We pay 98% of our invoices this way.
Apologies, although as my location is shown I didn’t see it as necessary to put it on every post. In your drive for Global Britain it may be useful to understand how the rest of the world operates, cheques are not used here In New Zealand and banks no longer accept them, I haven’t used one for around 10 years, too much hassle and easier to pay on line or via card, the payment is simple and if payment is via same bank is shown as cleared straight away, payments between different banks may take a couple of hours.
 

Lowland1

Member
Mixed Farmer
Only had one dodgy attempt on the Credit Card bank rang to ask if I was overseas using my card, confirmed I wasn’t so transaction didn’t go through. Banks monitor transactions to attempt to reduce fraud.
As someone who pre-covid travelled a bit I have found cards and online banking brilliant. No need for travellers cheques or changing money. Just use your card like you are at home. We went to India in 2016 when the Government made everyone change all their high denomination notes to stop the black economy but failed to have the new notes to replace the old available. So we arrived in the country went to buy rupees but were told sorry there's no cash luckily we could do everything with cards.
 

stewart

Member
Horticulture
Location
Bay of Plenty NZ
As someone who pre-covid travelled a bit I have found cards and online banking brilliant. No need for travellers cheques or changing money. Just use your card like you are at home. We went to India in 2016 when the Government made everyone change all their high denomination notes to stop the black economy but failed to have the new notes to replace the old available. So we arrived in the country went to buy rupees but were told sorry there's no cash luckily we could do everything with cards.
The exchange rate tends to be better when using a card compared to getting foreign currency at the bank and you only use what you require, no need to change it back when you get home. Traveled through Europe a few years ago, never used cash once.
 

smcapstick

Member
Location
Kirkby Lonsdale
Posts like this always puzzle me. We are all (mostly) businessmen here. Our job is getting money from people for goods and services. Why on earth would you put obstacles in their way? I'm happy to be paid in cash, cheque or BACS and I have no problem in handling any of them.
Conversely, if I have a problem with making any of my purchases, the chances are that that is the last transaction I will make with them. I have posted a cheque for 7k to a business with a covering letter making my order. I got the cheque back with a note telling me to ring their call centre. I didn't. Another company got the benefit of my 7k. There is always someone else who 'is' hungry for my money.
BTW all my cash income does go through the books.
Here’s the thing - I no point did I say I wouldn’t accept cash or cheques. I simply prefer the other two methods of payment mentioned.

It’s the attitude of cash men I often find distasteful. All, and I really do mean all, expect me to ‘lose’ the VAT. Not happening.
In addition, if a customer starts shouting at you because you would rather be paid by card or transfer than receive an ASDA bag full of cash, do you really want to sell them a complicated machine? I don’t. If they scream about that, what else will they scream about? They got a puncture one month after purchase and want me to pay for the repair? The paint has faded, they want a respray? They found another one cheaper and want to send this one back, even though they’ve had it five months? These things really happen.

Customers should always vet suppliers. Likewise, savvy suppliers vet customers.

It’s not necessarily the cash I dislike. It’s the attitude behind it.

Also, cheques are slow as flip!
 

stewart

Member
Horticulture
Location
Bay of Plenty NZ
Here’s the thing - I no point did I say I wouldn’t accept cash or cheques. I simply prefer the other two methods of payment mentioned.

It’s the attitude of cash men I often find distasteful. All, and I really do mean all, expect me to ‘lose’ the VAT. Not happening.
In addition, if a customer starts shouting at you because you would rather be paid by card or transfer than receive an ASDA bag full of cash, do you really want to sell them a complicated machine? I don’t. If they scream about that, what else will they scream about? They got a puncture one month after purchase and want me to pay for the repair? The paint has faded, they want a respray? They found another one cheaper and want to send this one back, even though they’ve had it five months? These things really happen.

Customers should always vet suppliers. Likewise, savvy suppliers vet customers.

It’s not necessarily the cash I dislike. It’s the attitude behind it.

Also, cheques are slow as flip!
A card transaction is instant, no need to wait for a cheque to clear.
 

Update on the Sustainable Farming Incentive pilot

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Update on the Sustainable Farming Incentive pilot

Written by Lisa Applin

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In July, we opened the applications window for farmers to join our Sustainable Farming Incentive pilot.

The Sustainable Farming Incentive is 1 of the 3 new environmental land management schemes. It sits alongside the future Local Nature Recovery and Landscape Recovery schemes.

Through the Sustainable Farming Incentive, farmers will be paid for environmentally sustainable actions – ones that are simple to do and do not require previous agri-environment scheme experience.

We are piloting the scheme to...
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