Cashless society

[Dona Ferentes]

a

I assume it's the same person I have on ignore, for precisely the same reason.

and it's a "ditto" from me

 

[TimeISmoney]

When I saw @cynic 's post as I don't see the quote from the other poster, I instantly knew that value collector was behind it .

 

[farmerge]

I assume it's the same person I have on ignore, for precisely the same reason.

I don't have the suspect on ignore but generally just ignore the musings as I'm, the only one who is right, no matter what

 

[qldfrog]

I don't have the suspect on ignore but generally just ignore the musings as I'm, the only one who is right, no matter what

Except of course your better half

 

[farmerge]

Except of course your better half

Mr Frog, ahhhhhh only a fool or idiot would go against the female version.
A smart man always has an escape route planned, like having the back door ajar for an easy escape

 

[Value Collector]

Legitimate transactions performed with legitimately acquired monies do not merit the interrogations to which I was subjected.

Those willing to operate outside the confines of the law are easily able to evade these processes, leaving the law-abiding members of society as the only people likely to be significantly impacted, hence my reason for considering cynicism to be truly warranted.

Just because one is committed to one's contrary viewpoint, does not entitle one to insinuate criminal or inappropriate behaviour, as such I find your post deeply offensive and potentially defamatory.

At this juncture, my commitment to free speech is the only thing preventing me from availing myself of the "ignore" facility of this forum.

I shall, however, be reserving my right not to engage with, or respond to, future insults.

I think you mis read my post if you think I was insinuating you were a criminal or was trying to insult you, try re-reading my post with a less cynical tone. I didn't say you were shifty, I said acting shifty, eg doing something that makes people question you.

But, I see it a bit like an airport, sometimes you get asked questions when you are entering country to make sure your purposes for travel are above board, and you can be operating in a completely legal manner, but still be a little bit unusual and trigger some one to ask questions, it shouldn't be a problem to just answer some questions, and as I said if you are doing things that arouse suspicions, maybe avoid those things if you don't like to answer questions.

I enter in and out of the USA frequently, crossing the border in multiple times with in a short space of time from various locations but in legal ways, but that are a little unusual for the average traveller, so its not surprising that some times I have to answer a more intense line of questioning, its just part of the game, in fact due to answering a few questions last year I managed to save some money on border fees.

 

[farmerge]

Yet another example of the Banks having to plug holes for people getting scammed.

'I can't trust anything anymore': Woman loses 95-year-old mum's $1.6m life savings to scammers

It all started with a phone call from a well-spoken man who claimed he worked for a well-known bank. Now, Harriet has lost the proceeds from the sale of her widowed mother's home.

www.abc.net.au

• In short: Harriet Spring fell for a sophisticated fixed-term deposit scam.
• Experts warn scams are now too complex for consumers to pick up on by themselves and they want banks to be liable for reimbursing customers.
• What's next? The government says it's working with the banks to tighten security but won't go down that route at the moment.

Harriet Spring remembers the first phone call, in November.

The man with the "posh British accent" on the other end introduced himself as "from ING" and asked if she was interested in good rates on fixed-term deposits.

"Nothing crazy, nothing too out of the ordinary," Mrs Spring said.

"So, I didn't think, 'that sounds too good to be true'."
In fact, it was perfect timing for the Canberra architect — an existing ING customer — who'd been driving to and from the NSW South Coast each weekend for months to prepare her 95-year-old mother's house for sale.

Her mother had moved into an aged care facility after a series of strokes left her "unable to walk or talk".

"It was the end of a very hard year, and this guy just made it so easy," Mrs Spring said.
After months of phone calls and correspondence that she said appeared legitimate, she handed over $1.6 million — her mother's life savings — to scammers.

The real ING bank was not involved in any part of the process.

And the moral of this extremely sad tale would have been to contact the bank in question for verification.
We have for some time now, do not answer calls unless there is a name attached to it and e-mails are dispatched to the bin.
If we want or need anything we make the inquiry to someone behind a counter locally.

 

[sptrawler]

And the moral of this extremely sad tale would have been to contact the bank in question for verification.
We have for some time now, do not answer calls unless there is a name attached to it and e-mails are dispatched to the bin.
If we want or need anything we make the inquiry to someone behind a counter locally.

Very true, I thought it best to move the article to the scam thread, but it is hard to stop people doing silly things.
If I am moving a lot of money around, I make every attempt to do it in person at the institution, I trust very few people with my money it was too hard earned to be risking giving it away.

 

[farmerge]

Very true, I thought it best to move the article to the scam thread, but it is hard to stop people doing silly things.
If I am moving a lot of money around, I make every attempt to do it in person at the institution, I trust very few people with my money it was too hard earned to be risking giving it away.

Mr sp I have always been of the opinion if I/we wanted to invest our hard earned, it would not be with an unknown bod contacting us.
Just makes sense to make the contact via a bank or financial institution and deal with a real person who can be seen on a face to face level.

 

[Dona Ferentes]

from the AFR

Cash transporter Armaguard has sealed an agreement with the country’s largest banks and retailers to deliver the Linfox-controlled group an additional $50 million, assuring the distribution of bank notes and coins throughout the economy for at least a year.

A .... new agreement, finalised over the weekend, will provide additional funding for Armaguard for a year from 01 July and is expected to be submitted to the competition regulator for approval [today ].

 

[moXJO]

Good old Barry Smith. I'm proud to follow in the footsteps of great NZ tinfoil hat wearers.

 

[Bellcose]

Australia’s digital banking boom is continuing with payments by mobile wallets surging by 35 per cent in the last year alone, according to a new report released today by the Australian Banking Association

Mobile wallet transactions overtake ATM cash withdrawals in digital banking boom

Australia’s digital banking boom is continuing with payments by mobile wallets surging by 35 per cent in the last year alone, according to a new report

www.ausbanking.org.au

 

[Value Collector]

from the AFR

Cash transporter Armaguard has sealed an agreement with the country’s largest banks and retailers to deliver the Linfox-controlled group an additional $50 million, assuring the distribution of bank notes and coins throughout the economy for at least a year.

A .... new agreement, finalised over the weekend, will provide additional funding for Armaguard for a year from 01 July and is expected to be submitted to the competition regulator for approval [today ].

Are they going to pass those costs on to the cash users???

It’s certainly shows that using cash isn’t free, it’s just subsidised heavily by other parts of the system, and as cash use continues to shrink, it’s going to get more expensive on a per user basis.

But, for some reason credit card users get asked to pay surcharges on our transactions, while profits from credit cards are being used to subsidise the cash transactions of tax dodgers and cranky conspiracy theorists

 

[Bellcose]

Are they going to pass those costs on to the cash users???

It’s certainly shows that using cash isn’t free, it’s just subsidised heavily by other parts of the system.

It's likely more than not the cost will be worn by the companies themselves and so passed on to their shareholders.

 

[Bellcose]

It was interesting in my travels recently. Cooktown area, as well as smaller communities with naught but a pub and a cafe. The first action when we bought was they didn't hold out a hand for cash but presented the EFTPOS terminal first off. Same in local retail stores. I had no difficulty with the payment process at all.

I have noticed in my neck of the woods where a high school is close by none of them seem to use cash in the supermarket but use their smartphones. Even those of my generation (70 yo+) tend to now use either debit cards or their phones.

I suspect, while there will still be cash used, it will become smaller and smaller as time progresses as we older people die and generations bought up with the digital world won't be bothered using cash very much.

 

[Value Collector]

It was interesting in my travels recently. Cooktown area, as well as smaller communities with naught but a pub and a cafe. The first action when we bought was they didn't hold out a hand for cash but presented the EFTPOS terminal first off. Same in local retail stores. I had no difficulty with the payment process at all.

I have noticed in my neck of the woods where a high school is close by none of them seem to use cash in the supermarket but use their smartphones. Even those of my generation (70 yo+) tend to now use either debit cards or their phones.

I suspect, while there will still be cash used, it will become smaller and smaller as time progresses as we older people die and generations bought up with the digital world won't be bothered using cash very much.

It makes sense for remote areas to use digital, because most of the supplies they order are coming in from suppliers that are along way away.

If you drive a $50 note to cook town, and use it to buy some beers, well now the pub has a $50 note in its till that it has to work out a way to get that note banked so it can pay the beer company in Brisbane, and even if there is a bank in cook town, travellers bringing cash would cause an accumulation of cash locally that needs to be trucked back to a city.

But if you pay digitally the money goes into their account automatically and they can pay their bill right away, no need to physically move cash around, which is expensive.

 

[divs4ever]

The cynical part is your claim that maybe it’s part of some conspiracy to keep you from rising to a wealthier class.

up to 'super-elite' class absolutely , to the lesser 'upper levels' well that depends on if you can be controlled , in critical areas

god forbid you just crash in perforce of sheer wealth and influence of key levers , say the power or telecommunications networks ., and express unusual ideas in public

 

[JohnDe]

up to 'super-elite' class absolutely , to the lesser 'upper levels' well that depends on if you can be controlled , in critical areas

god forbid you just crash in perforce of sheer wealth and influence of key levers , say the power or telecommunications networks ., and express unusual ideas in public

Don’t forget the taxman

 

[moXJO]

It makes sense for remote areas to use digital, because most of the supplies they order are coming in from suppliers that are along way away.

If you drive a $50 note to cook town, and use it to buy some beers, well now the pub has a $50 note in its till that it has to work out a way to get that note banked so it can pay the beer company in Brisbane, and even if there is a bank in cook town, travellers bringing cash would cause an accumulation of cash locally that needs to be trucked back to a city.

But if you pay digitally the money goes into their account automatically and they can pay their bill right away, no need to physically move cash around, which is expensive.

By that argument they are most at risk of digital outages. If you have cash it will circle the local economy a lot more than digital will.

 

[Value Collector]

If you have cash it will circle the local economy a lot more than digital will.

How? the same amount of cash will circulate regardless, I mean even if you pay cash the Pub will still need to bank it and pay their staff digitally, not many staff get paid cash except the tax dodgers

Outages every know and then are probably not as much hassle as dealing with cash.