Living in a cash world in January 2018 by The Outlaw Micheal Tomsik
My last post about living in a cash world was in 2017 so here is an 2018 update.
So recently I was at UPS shipping office in Sparks Nevada and big sign was posted NO CASH PAYMENTS after OCTOBER 1st 2018.
I posted a photo of the sign on facebook.
Living in a cash world is becoming harder and harder. If I did not use my debit card there would be a lot of bills I could not pay and I hate the fact that sometimes I get charged extra fees for using the debit card. I do not like the fact it seems I am being forced more and more to use the debit card. My family does not have any type of credit or loans. We own all of our vehicles and home outright. We have no loan or debt to speak of at the moment and we are attempting to stay that way.
I got into a small debate with someone on facebook about how companies are taking away the cash payments and relying on credit or debit payments and why are companies doing this?
Sure if a company does not take cash I can go somewhere else but what if I do not want to have to go travel all over the place for a place that takes cash. I mean so basically I am being told no cash go somewhere else or pay with a debit or credit card.
it is not just in Reno many places are no longer taking cash like restaurants and airlines. In cities like San Francisco, New York, Boston and other places companies are choosing to go cash free.There was an article recently about some companies in these places not taking cash anymore.
The argument these companies have against taking cash is that not having cash reduces chances of a robbery, employees stealing money, eliminating trips to the bank for deposits change and more, and reducing the need for cash registers. While some of this may be true by only taking credit or debit companies get charged fees from banks or companies who set up systems to take credit or debit. I have owned a business where I had a credit and debit system and I got charged fees for taking the cards. If I took cash I had no fees so I do not understand that choice.
There are no laws that make a company take cash payments, companies have the right to refuse to take cash payments. Massachusetts is one State that has an actual law that makes companies take cash payments. However there is a lot of issues with the law in the State as far as how to enforce it or companies that break the law.
As technology gains momentum more people use phones, computers, or other devices to pay for things. It may come in the future where there is no need for cash payments.
Who would benefit ?
Well it cost the government about 4.9 cents to make every $1 or $2 bill, and 10.9 cents to make $5 bill, 10.3 cents for a $10 bill, 10.5 cents for $20 and $50 bills, and 12.3 centsa for $100 bill.
It actually cost more than a penny to make a penny at the cost of 1.7 cents, and more than .8 cents to make a Nickel. The government is estimating between 2.4 to 10 billion dollars to modify dimes, quarters, and other coins.
So there is talk about eliminating change but the public seems to fight this for the moment.
Believe it or not there are 10 countries that do not use coins or they are used on very rare occasions.
It is possible that soon pennies may be eliminated in America, and soon there are going to be computers in several companies going to machines instead of people to take orders for food. As the momentum gains the days of cash may be limited.
So recently I was at UPS shipping office in Sparks Nevada and big sign was posted NO CASH PAYMENTS after OCTOBER 1st 2018.
I posted a photo of the sign on facebook.
Living in a cash world is becoming harder and harder. If I did not use my debit card there would be a lot of bills I could not pay and I hate the fact that sometimes I get charged extra fees for using the debit card. I do not like the fact it seems I am being forced more and more to use the debit card. My family does not have any type of credit or loans. We own all of our vehicles and home outright. We have no loan or debt to speak of at the moment and we are attempting to stay that way.
I got into a small debate with someone on facebook about how companies are taking away the cash payments and relying on credit or debit payments and why are companies doing this?
Sure if a company does not take cash I can go somewhere else but what if I do not want to have to go travel all over the place for a place that takes cash. I mean so basically I am being told no cash go somewhere else or pay with a debit or credit card.
it is not just in Reno many places are no longer taking cash like restaurants and airlines. In cities like San Francisco, New York, Boston and other places companies are choosing to go cash free.There was an article recently about some companies in these places not taking cash anymore.
The argument these companies have against taking cash is that not having cash reduces chances of a robbery, employees stealing money, eliminating trips to the bank for deposits change and more, and reducing the need for cash registers. While some of this may be true by only taking credit or debit companies get charged fees from banks or companies who set up systems to take credit or debit. I have owned a business where I had a credit and debit system and I got charged fees for taking the cards. If I took cash I had no fees so I do not understand that choice.
There are no laws that make a company take cash payments, companies have the right to refuse to take cash payments. Massachusetts is one State that has an actual law that makes companies take cash payments. However there is a lot of issues with the law in the State as far as how to enforce it or companies that break the law.
As technology gains momentum more people use phones, computers, or other devices to pay for things. It may come in the future where there is no need for cash payments.
Who would benefit ?
Well it cost the government about 4.9 cents to make every $1 or $2 bill, and 10.9 cents to make $5 bill, 10.3 cents for a $10 bill, 10.5 cents for $20 and $50 bills, and 12.3 centsa for $100 bill.
It actually cost more than a penny to make a penny at the cost of 1.7 cents, and more than .8 cents to make a Nickel. The government is estimating between 2.4 to 10 billion dollars to modify dimes, quarters, and other coins.
So there is talk about eliminating change but the public seems to fight this for the moment.
Believe it or not there are 10 countries that do not use coins or they are used on very rare occasions.
It is possible that soon pennies may be eliminated in America, and soon there are going to be computers in several companies going to machines instead of people to take orders for food. As the momentum gains the days of cash may be limited.
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