Thin end of the wedge

[onetrack]

I'm glad to see quite a number of vans and stalls at the markets putting up signs saying, "Cash Preferred"!

[spacesailor]

NOW !

 

The banks are limiting cash withdrawals to $ 2,000 . That's My money they're holding from me .

So . Do we have to take out a loan, if we need more , to purchase something more expensive. 

spacesailor

[red750]

They have to stop you funding rebel organisations, or paying your dealer.

[spacesailor]

But it's My money ! .not theirs .

I had an argument with one bank , who had tried ripping me off .

So I closed my account and asked for " cash " , they promptly put $ thousands on the counter for me to walk out with it,when I demanded it be put into a " bankbag " they wanted to charge me for it .that didn't work either. 

It became our house deposit .

spacesailor

 

[Marty_d]

13 hours ago, spacesailor said:

NOW !

 

The banks are limiting cash withdrawals to $ 2,000 . That's My money they're holding from me .

So . Do we have to take out a loan, if we need more , to purchase something more expensive. 

spacesailor

I think you'd find that if you give them 24hrs notice you could withdraw more than 2k.

[old man emu]

2 minutes ago, Marty_d said:

I think you'd find that if you give them 24hrs notice you could withdraw more than 2k.

Would the reason for that be that individual bank branches normally do not hold a lot of money in physical form?

 

[Marty_d]

That's my understanding. 

Also why banks hate the idea of a "run on the bank" where customers all want to withdraw even their maximum,  which would total far more than their cash float.

[red750]

Even when I was a bank teller in the 60's, branches had limited cash holdings. If customers wanted larger withdrawal, they had to be pre-arranged so extra cash could  be arranged. We had to arrange an escort truck from head office, or in country branches, by buying it from other banks in the town. More than once walked down the street with a few thousand in a leather bag, pistol in my pocket after cashing a Bank Cheque. As cash, and branches, are disappearing, this difficulty will only increase.

[old man emu]

8 minutes ago, Marty_d said:

Also why banks hate the idea of a "run on the bank" where customers all want to withdraw even their maximum,  which would total far more than their cash float.

They'd have to borrow the banknotes from the stashes of the drug dealers who all seem to have wads of banknotes.

[onetrack]

I was surprised to see that Armaguard and Prosegur had such a rapid decline in their business demand due to reduced cash handling, that they had to amalgamate to survive.

 

You used to see the armoured trucks outside every shopping centre every day, and heavily armed blokes wheeling out trolleys full of money bags - but they're a rare sight today.

 

I reckon the drive to a cashless society is all about destroying the drug dealers operations.

[facthunter]

They are not that HIGH Minded. Banks just want more control of your money. spacey why should you expect a free bank bag? The customers one way or another would be paying for it and by carrying a pile of cash you are incurring a serious risk  to your safety.  Nev

[spacesailor]

I had to WAIT till the next day, & make a return journey.  

Today's banks don't just throw your money onto the counter for everyone to see , if over a grand the put it into an envelope. 

When I took it to a lawyer, he threw a wobbly and returned it back to that same bank , in such a rush, we ( the wife & I ) were left sitting in his office ' without a receipt. Lots of apologies , as he hadn't a safe to put it in .

spacesailor

[red750]

I don't have any bank apps on my phone, and wouldn't like to carry a largish sum of cash around. So when I bought my car, I took my laptop and paid by EFT. No problem.

[onetrack]

I can recall buying a big 3PL Howard rotary hoe for $8000 around about 1992 - and the seller wanted cash only, he wouldn't take a cheque.

So I went to the Commonwealth Bank where I banked and asked them for $8000 in cash. They obliged, although the teller was a little nervous.

 

I took the money to the bloke, who was about 40 kms away, and counted it out - and it was $200 short! - there was only $7800 there!

 

I raced bank into the bank next morning and complained I'd been dudded. There was great consternation, managers were called, record checks were done - and the teller came back all apologetic.

 

They'd found the missing $200, it was simply a miscount by a teller, and they handed me the money with abject apologies. I was quite surprised, because it's the only time in my life I've had a miscount from a bank.

[spacesailor]

So ' did you get $ 200 off the price he asked for .

3pt ho .

spacesailor

[onetrack]

No Spacey, the purchase price had already been hammered down and agreed on, so he got the missing $200.

[facthunter]

A DEAL is a DEAL. A bloke overpaid me once for a Scott  Motorbike and I refunded the extra straight away. A lot said "why didn't you just keep it?" Well Its dishonest to start with and also he may find a record of the original figure. My father would not have done it, either. Nev

[red750]

How the tables have turned. You used to have to pay a surcharge to use a cash card once upon a time, and still do in some instances. Lottery agencies often charge a surcharge if you card a purchase of under $15.

 

Now there is a call to put a surcharge on cash transactions to support armoured escort services like Armourguard distributing cash as they are now operating at a loss.

[facthunter]

Well. they have you "by the BALLS" so to speak.   Nev

[spacesailor]

If they , don't take cash , & the "efpos " goes down , do they just shut shop .

Far north Queensland has no electricity to run " efpost " at all now .

Back to the " barter system " , a dozen eggs, for milk , fresh from the cow .

Oops ! No gst involved here .

Coin of the realm.  Legal tender , will people starve when out of " efpost  " range ! .

spacesailor

[old man emu]

If one wanted to make a stand against refusal to accept cash, then one should insist that the receiver prominently display a sign saying "No Cash Accepted"

 

It appears that a provider of goods or services is at liberty to set the commercial terms upon which payment will take place before the ‘contract’ for supply of the goods or services is entered into. If a provider of goods or services specifies other means of payment prior to the contract, then there is usually no obligation for legal tender to be accepted as payment.

 

However, refusal to accept legal tender in payment of an existing debt, where no other means of payment/settlement has been specified in advance, conceivably could have consequences in legal proceedings; for example, the creditor may be unable to enforce payment in any other form.

[octave]

25 minutes ago, spacesailor said:

Far north Queensland has no electricity to run " efpost " at all now .

I have been in a supermarket when there was a power outage and it did not matter whether you had cash or not. The cash register ceased to work and also the scanner.  Of course portable efpos machines in smaller shops are often portable and rechargable as long as the phone network is working.

[spacesailor]

SO ' how ' did you pay your bill .

Aldi promptly closed shop & you didn't get your groceries  .

spacesailor

[octave]

I didn't pay my bill, we all had to leave. If the power goes out in a large supermarket having cash is no help. I have bought something in small shop that had a portable efpos. during a power cut. I guess they would have also accepted cash.

[red750]

Told you it was coming.

 

800 km to get some cash.