A cashless future in Canada?
The bank of Canada doesn't see it happening.
a research paper — bank branches In Canada — says even if banks get rid of tellers, most Canadians still use bills and coins for purchases of less than $25.
most of the Laurentian bank's branches are automated, while CIBC has 185 branches without tellers, which only amounts to 18% across the country.
"The transition to teller-less bank branches in Canada seems unlikely to increase the friction or costs around accessing cash that could discourage cash demand in Canada," said the paper.
"The development of teller-less bank branches itself seems unlikely to have significant adverse impact on cash demand."
researchers say besides people still using cash for small transactions, they also withdraw cash from atms twice a month on average.
The bank of Canada's 2018 study said cash also remains the fastest way to pay for small purchases.
a stopwatch survey found typical cash transactions take 15 seconds compared to 25 seconds for debit cards.
I usually use cash for small purchases too.
Old Herman is old school. I use cash and withdraw cash from ATM's most of the time. Big purchases are different.
I dont like a cashless society..
They want to control you..
Cash is freedom.
Quote from: "Odinson"
They want to control you..
Cash is freedom.
:thumbup:
Im old school too, cause I dont like knowing Im being tracked on my purchases. I put most my check in the bank and pay bills with my bank funds, the rest is cash that I use for gas and groceries and what not.
I use cash for small purchases as a convenience for myself and a courtesy to others.
Using card is quicker than using cash..
Atleast in here.
I just put the card in the slot.
And quickly input 0462.. Which is my pin-code..
I have Google pay on my smartphone. Just tap my phone for purchases under $100. Food courts at Asian malls here do not accept card. Have to carry cash sometimes. Paper bills and coins are so dirty. I always have a bottle of hand sanitizer in my car.
Quote from: "Fashionista"
When I was in Seattle, my cash was shunned. My brother says no one pays with cash there, but Im sure hes exaggerating lol.
Quote from: "Blazor"
Quote from: "Fashionista"
When I was in Seattle, my cash was shunned. My brother says no one pays with cash there, but Im sure hes exaggerating lol.
He is, I have been there.
I use cash for small purchases and purchases that go beyond my debit limit.
and cash is still prevalent here because i live in a pretty rural area.
Quote from: "sasquatch"
and cash is still prevalent here because i live in a pretty rural area.
Cash is still common in rural areas?
For what, under $50?
Cash transactions in Israel are limited to NIS 10,000. The government encourages it to combat tax evasion.
Quote from: "Gaon"
Yes, cash is harder to follow.....even small amounts.
I dont like the total control idea..
We break the law... Accept it..
Quote from: "Odinson"
We break the law... Accept it..
"Breakng the law, breaking the law!" :punk:
Quote from: "Fashionista"
Quote from: "sasquatch"
and cash is still prevalent here because i live in a pretty rural area.
Cash is still common in rural areas?
For what, under $50?
actually, yeah. 50-60$ transactions are commonly in cash here, but i've seen people bring over a grand and dump it into the VLT's.
Quote from: "sasquatch"
Quote from: "Fashionista"
Quote from: "sasquatch"
and cash is still prevalent here because i live in a pretty rural area.
Cash is still common in rural areas?
For what, under $50?
actually, yeah. 50-60$ transactions are commonly in cash here, but i've seen people bring over a grand and dump it into the VLT's.
On the rare occasions we order food in, we order online and pay by credit card..
I haven't paid for groceries in cash in....I can't remember the last time I used cash to buy groceries.
Quote from: "sasquatch"
Quote from: "Fashionista"
Quote from: "sasquatch"
and cash is still prevalent here because i live in a pretty rural area.
Cash is still common in rural areas?
For what, under $50?
actually, yeah. 50-60$ transactions are commonly in cash here, but i've seen people bring over a grand and dump it into the VLT's.
That sounds like where I live in Saskatchewan, :laugh3:
Do VLT's only take cash?
Quote from: "Gaon"
yep. they only take cash.
Quote from: "sasquatch"
Quote from: "Gaon"
yep. they only take cash.
And if one wins do they pay in cash or do they issue a voucher that can be redeemed for a cheque?
Quote from: "Fashionista"
Quote from: "sasquatch"
Quote from: "Gaon"
yep. they only take cash.
And if one wins do they pay in cash or do they issue a voucher that can be redeemed for a cheque?
No they have to redeem it in cash. There is no logistical way we could dispense in cheques.
Quote from: "Fashionista"
Quote from: "sasquatch"
Quote from: "Gaon"
yep. they only take cash.
And if one wins do they pay in cash or do they issue a voucher that can be redeemed for a cheque?
I'm guessing you don't gamble.
Quote from: "iron horse jockey"
Quote from: "Fashionista"
Quote from: "sasquatch"
Quote from: "Gaon"
yep. they only take cash.
And if one wins do they pay in cash or do they issue a voucher that can be redeemed for a cheque?
I'm guessing you don't gamble.
I never have and never will.
I have put some money in the slots, but I have never had a gambling addiction.
Quote from: "Herman"
I play small stakes poker once in a while.
Quote from: "sasquatch"
and cash is still prevalent here because i live in a pretty rural area.
Purchases on debit can exceed your debit limit.
Can it to any extent unless one has an approved override on the account itself - which in effect is credit?
I thot bank approval was part of the debit card transaction
Quote from: "cc"
I thot bank approval was part of the debit card transaction
Provided there are sufficient funds, yes..
I have a two hundred dollar per day debit limit, but I just put $214 on debit at Costco.