Surcharges when using cash as your payment method?
Izabarack said
03:17 PM May 5, 2024
Was just responding to a couple of posts elsewhere saying we need to avoid a cashless society because they cannot mess with cash. Dont be too sure. A quick look at the RBA site says card transactions legit attract surcharges because sellers recoup the cost of providing the payment method option through these surcharges. Well, it happens that all the major supermarkets, for example, have measured just how much they could increase profit by going cashless. The cost of handling cash at the register, counting and reconciling cash at the end of the day, and the cost of transporting cash (think Armourguard) is considerable. All the major supermarkets encourage shoppers to use EFTPOS for several reasons and one of those is a want to minimise the time and effort spent handling cash.
I predict a small change to the wording on the RBA website is around the corner. They will delete references to card transactions and include something like point of sale transactions.
I also predict cash transactions in the near future will include a surcharge to cover the cost to the seller incurs to allow buyers to pay for items in cash.
That reminds me, I need to get some cash out to pay a couple of casual labourers coming next week to dig some drainage channels on the low side of the house.
Whenarewethere said
08:15 AM May 11, 2024
A number of shops in my area don't take cash anymore. We don't go there anymore.
But it is the thin end of the wedge.
Bicyclecamper said
02:31 PM May 11, 2024
As our local village shop is on a tourist route, and we have pretty bad internet and phone services here, cash is king in her shop, the thing is tourists ( grey's and greens) turn up with no cash most of the time, and as their are 2 heavily used camping area's in and around the town, most people who use them are city dwellers, they don't seem to realize that cash is required out here more often then not. The nearest bank is 45 minutes away. I would advise travelers who go bush to carry cash all the time.
dorian said
05:39 PM May 11, 2024
Whenarewethere wrote:
A number of shops in my area don't take cash anymore. We don't go there anymore.
Neither do the crims.
DeBe said
09:38 PM May 11, 2024
Tried to use my card in a takeaway food shop today, twice it was rejected plenty of money in the card. Luckily i had cash to pay.
Whenarewethere said
11:14 PM May 11, 2024
dorian wrote:
Whenarewethere wrote:
A number of shops in my area don't take cash anymore. We don't go there anymore.
Neither do the crims.
Only the $3 billion scamming Australians annually. Probably a touch more than in the last 2 hundred years using balaclavas.
Whenarewethere said
11:24 PM May 11, 2024
DeBe wrote:
Tried to use my card in a takeaway food shop today, twice it was rejected plenty of money in the card. Luckily i had cash to pay.
Had the same issue recently, had to pay cash at the airport carpark. Also network was down in Manly, amazing how well the folding stuff works!
The bank issued me another card. Still the problem persists & more than plenty of funds.
Even went into the bank & tried to buy something from their computer. They blamed the supplier, the supplier blamed the bank. Doesn't help me!
Izabarack said
09:26 AM May 12, 2024
Macquarie Bank is completely cashless now. I have a Superannuation product with Mac Bank. If I need cash, I transfer a couple of $000 to a Comm account and get cash from local Woolies. The specific problem I have with this system is the $50 notes the Woolies machine spits out. Local fruit shop actually asks me to pay with a card rather than make change for two bananas and two apples. Local fruit shop does not apply a surcharge to card transactions. I wonder how much they would lose in turnover if they ceased to accept cash?
Dick0 said
09:33 AM May 12, 2024
Ever seen a Chinese Restaurant/Take Away not take cash?
peter67 said
08:43 AM May 13, 2024
dorian wrote:
Whenarewethere wrote:
A number of shops in my area don't take cash anymore. We don't go there anymore.
Neither do the crims.
They use bitcoin
msg said
05:14 PM May 18, 2024
Yesterday I put $25.01 of petrol in my car and paid the cashier $25.00. Was asked for an additional 5cents. Is that a surcharge for cash? I said I did didn't have a 5 cent coin. He just answered OK. Was that a discount? lol.
Gundog said
09:36 AM May 19, 2024
msg wrote:
Yesterday I put $25.01 of petrol in my car and paid the cashier $25.00. Was asked for an additional 5cents. Is that a surcharge for cash? I said I did didn't have a 5 cent coin. He just answered OK. Was that a discount? lol.
Which fuel station/brand was that, sounds like BS to me, knowing the POS equipment used by fuel stations the only time you would pay the $25.01 would be when you pay by card. Paying by cash then the rounding down and up laws apply, one or two cents round down three and four cents round up.
Was just responding to a couple of posts elsewhere saying we need to avoid a cashless society because they cannot mess with cash. Dont be too sure. A quick look at the RBA site says card transactions legit attract surcharges because sellers recoup the cost of providing the payment method option through these surcharges. Well, it happens that all the major supermarkets, for example, have measured just how much they could increase profit by going cashless. The cost of handling cash at the register, counting and reconciling cash at the end of the day, and the cost of transporting cash (think Armourguard) is considerable. All the major supermarkets encourage shoppers to use EFTPOS for several reasons and one of those is a want to minimise the time and effort spent handling cash.
I predict a small change to the wording on the RBA website is around the corner. They will delete references to card transactions and include something like point of sale transactions.
I also predict cash transactions in the near future will include a surcharge to cover the cost to the seller incurs to allow buyers to pay for items in cash.
That reminds me, I need to get some cash out to pay a couple of casual labourers coming next week to dig some drainage channels on the low side of the house.
A number of shops in my area don't take cash anymore. We don't go there anymore.
But it is the thin end of the wedge.
Neither do the crims.
Only the $3 billion scamming Australians annually. Probably a touch more than in the last 2 hundred years using balaclavas.
Had the same issue recently, had to pay cash at the airport carpark. Also network was down in Manly, amazing how well the folding stuff works!
The bank issued me another card. Still the problem persists & more than plenty of funds.
Even went into the bank & tried to buy something from their computer. They blamed the supplier, the supplier blamed the bank. Doesn't help me!
Macquarie Bank is completely cashless now. I have a Superannuation product with Mac Bank. If I need cash, I transfer a couple of $000 to a Comm account and get cash from local Woolies. The specific problem I have with this system is the $50 notes the Woolies machine spits out. Local fruit shop actually asks me to pay with a card rather than make change for two bananas and two apples. Local fruit shop does not apply a surcharge to card transactions. I wonder how much they would lose in turnover if they ceased to accept cash?
Ever seen a Chinese Restaurant/Take Away not take cash?
They use bitcoin
Which fuel station/brand was that, sounds like BS to me, knowing the POS equipment used by fuel stations the only time you would pay the $25.01 would be when you pay by card. Paying by cash then the rounding down and up laws apply, one or two cents round down three and four cents round up.