Always look at the bright side
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@morbiuswilters said:
Cash? What fucking century are you living in that you sincerely think paying cash is better than check?
The 21st, last time I checked (NPI).
I hand the vendor the cash and they hand me the goods. No waiting for funds to clear (something cheques and bank drafts and e-bank payments all share). No worries about fraud - I get to eyeball the goods at the same time the vendor gets to eyeball my funds. No bank fees. No record of the transaction.Cash is better than cheque.
None of the other payment methods have the same fraud protection of cash at the same cost. Cheques are non-guaranteed interest-free personal loans. Credit cards are well-protected against fraud but cost a lot AFAIK (the top credit card fee here is just over 12%). Bank cheques (or cashier cheques of whatever they are called) are a myth. E-banking is convenient iff both parties have a computer but offers no protection against non-delivery of goods or services.
On the other hand, the advantages of cash require a face-to-face exchange. If that is not possible (e-commerce, for example) then cash isn't the best. It is still, however, better than a cheque.
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@havokk said:
No waiting for funds to clear (something cheques and bank drafts and e-bank payments all share).
I've never had any of these take longer than it takes to count out change.
@havokk said:
No worries about fraud..
I suppose you've never heard of "counterfeiting"?
@havokk said:
No bank fees.
Except for ATM fees (for a non-network ATM). And if you're paying in cash for everything you're surely carrying at least at thousand, so enjoy getting mugged or losing your wallet.
@havokk said:
No record of the transaction.
In some cases, that's probably illegal. And regardless, a record of the transaction gives you a way to handle defective merchandise or fraud. Good luck proving you bought something from someone without a receipt.
@havokk said:
Credit cards are well-protected against fraud but cost a lot AFAIK (the top credit card fee here is just over 12%).
You don't pay a fee unless you carry a balance. I get about 2% back on everything I buy when I use a CC--they pay me. I got just shy of $800 back last year on my primary card. I try to put everything on CC possible. About all I can't do are auto loan payments and rent. (And medical expenses since those go to my FSA.)
@havokk said:
Bank cheques (or cashier cheques of whatever they are called) are a myth.
What the hell are you on about?
@havokk said:
On the other hand, the advantages of cash require a face-to-face exchange. If that is not possible (e-commerce, for example) then cash isn't the best. It is still, however, better than a cheque.
I would disagree, for the reasons I've already stated.
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@morbiuswilters said:
Except for ATM fees (for a non-network ATM).
No ATM fees for me anywhere within eurozone (and last time I used ATM outside eurozone, the fee was 1.67€ - far less than the bank fees for processing cheques).
@morbiuswilters said:I get about 2% back on everything I buy when I use a CC--they pay me.
That doesn't happen here - the best you get is the bank waiving the yearly CC subscription fee.
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@ender said:
No ATM fees for me anywhere within eurozone (and last time I used ATM outside eurozone, the fee was 1.67€ - far less than the bank fees for processing cheques).
Ha ha, you have to pay fees for processing checks? WTF?
@ender said:
That doesn't happen here - the best you get is the bank waiving the yearly CC subscription fee.
Europe sounds strange and frightening.
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@morbiuswilters said:
Ha ha, you have to pay fees for processing checks? WTF?
You have to find a bank that accepts them first - many don't.
