Does anyone still use physical cash? Why?

[SQLGeek]

Cause the stupid government can’t turn off your cash. Even if you don’t use cash you are a fool not to have a good stack in reserve

I have a feeling if we get to that point the cash won't be worth the paper it's printed on.

 

[TheDan]

Cause the stupid government can’t turn off your cash.

They can actually. It's only legal tender because they say it is.

I suspect a new monetary policy is on it's way and we'll get central bank digital currency along with it. Cash will eventually be phased out.

 

[benenglish]

Go to your bank without any forewarning and withdraw $10k.

Surely anybody who does this knows to call a few days ahead. I've done it on many occasions going back over a decade. My local bank branch made it clear that they could only do a cash withdrawal that large for one person if I called on Tuesday to withdraw on Friday. AFAIK, it's always been that way for small branches.

 

[TheDan]

it's always been that way

Fair enough. I retract the anecdotes.

 

[Danny2021]

Cash is good for keeping transactions anonymous. Yes I'm old school and still believe in privacy which is not easy to have these days.

 

[tonelar]

i used to pay the wifes allowance in cash

 

[TexasRedneck]

Cash whenever/wherever possible - the tracking that's done via electronic/paper check is unbelievable. Besides - it pisses off the bean counters. The various trades I work with all tell me they appreciate that I do cash transactions - even if they claim every penny, they know you can't stop payment on Benjamin's.....

 

[msharley]

Cash whenever/wherever possible - the tracking that's done via electronic/paper check is unbelievable. Besides - it pisses off the bean counters. The various trades I work with all tell me they appreciate that I do cash transactions - even if they claim every penny, they know you can't stop payment on Benjamin's.....

Hey RN,

Just had some electric work done.

Got $50 off for CASH!!

Later, Mark

 

[Lonesome Dove]

Building a new planter bed out front. Bullrock
Mulch
Large moss rock boulders and some smaller ones.
A few plants cacti kind. $602
Paid cash and got another 1600# pallet of moss stone FREE!

 

[SA_Steve]

As to restaurants that only take cash, I remember the very popular Galveston place that the IRS shut down (owner jailed) many years ago.

 

[pronstar]

Cash-only restaurants typically have ATM’s, so it’s win-win for the owner.


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[HKaltwasser]

Cash-only restaurants typically have ATM’s, so it’s win-win for the owner.


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Salt Lick keeps winning with that method, although the sauce is the best thing about that place.

 

[TexasRedneck]

Chasing down hot checks and reversed CC charges are a PITA.

 

[msharley]

Chasing down hot checks and reversed CC charges are a PITA.

Older Gentleman (long gone, now) had a great Neighborhood Restaurant/Bar where I grew up.

He had been in business for over 50yrs.

Told me one morning over coffee (I was still in High School)....that he had never, in all those years taken a bad check....

I asked how that could be?

He told me.....He had never taken a good one............either!

He was a really great old man!

 

[Cob]

I have noticed when I use cash I don’t spend as much as I do with checks or cards

 

[TexasRedneck]

I have noticed when I use cash I don’t spend as much as I do with checks or cards

Exactly - every study shows that customers spend more when using a credit card because they don't "feel" the card is real money....until they get the bill. I zero out our CC at least 3X/mo - learned the hard way how easy it is to get trapped by that "it's only xyz....". Flip side is - when we buy a new vehicle, we can pay $3-5k/mo on the balance and STILL live well. Of course, the auto finance company doesn't like us too well....but I don't care. I bought a truck year before last as a back-up to my main work truck. Used truck, walked into the dealership on a Saturday and handed 'em cash for it...when I went back last year to buy my new work truck, the salesman knew if he did his job, I'd buy. Couldn't pay cash on THAT beast, but 6 mos later it was paid off. That's the main advantage of not having other debt.

Just wished I'd have figured that out 30 years ago!!

 

[TEXAS "All or nothing"]

When you use cash it's truly the only cash back card I use with 0% interest!