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Farm Business
Agricultural Matters
Cash is King or Not?
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<blockquote data-quote="stewart" data-source="post: 7745681" data-attributes="member: 42710"><p>Your terminals must be set up differently to ours, I use one card in a terminal, I then have the option to pay via a Credit Card or have the payment taken directly from a chosen account (there are 2 bank accounts I can opt for) If paying by card this shows immediately on my online Credit Card statement, if paying directly from the bank account again this shows up immediately and if the buyer uses the same bank lands in their account straight away and are available funds for them to use. The transaction costs, if any, are minimal and less than paying in cheques. As previously mentioned banks no longer accept cheques and cash usage is decreasing. A previous poster indicated that on a visit to NZ he felt it was 20 years behind as there were very few ATMs in the smaller towns, reality is (from a finance and banking perspective) it is at least 20 years ahead, if there is no need for cash what is the point in an ATM? They are obsolete. There are obvious reasons for this, a smaller economy bring one of them.</p></blockquote><p></p>
[QUOTE="stewart, post: 7745681, member: 42710"] Your terminals must be set up differently to ours, I use one card in a terminal, I then have the option to pay via a Credit Card or have the payment taken directly from a chosen account (there are 2 bank accounts I can opt for) If paying by card this shows immediately on my online Credit Card statement, if paying directly from the bank account again this shows up immediately and if the buyer uses the same bank lands in their account straight away and are available funds for them to use. The transaction costs, if any, are minimal and less than paying in cheques. As previously mentioned banks no longer accept cheques and cash usage is decreasing. A previous poster indicated that on a visit to NZ he felt it was 20 years behind as there were very few ATMs in the smaller towns, reality is (from a finance and banking perspective) it is at least 20 years ahead, if there is no need for cash what is the point in an ATM? They are obsolete. There are obvious reasons for this, a smaller economy bring one of them. [/QUOTE]
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Cash is King or Not?
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