the No Cash Handling

[stivis]

The Idea of handling No Cash as mentioned of the Picture / Film thread.

Couple of things about that, It's mostly activated by the Bank and their cost,
The public draw their cash FOC( that is generally speaking)
They pay it in again FOC
Businesses however get charged for both these type of transactions
Examples
Draw £1000 and the firm pays circa £13
Pay £1000 in and it's £6.45
The charges are put onto the Business's Bill (or commonly known as a statement
Bank have pay their staff, for counting, Or throwing the money into "counter beside the teller"
They have other type "indoors"
Delete the staff less cost

There is to a large extent no interest at the moment, so less earnings for the Bank
They do make money in interest but that's a different kettle of fish
They also make money by way of sub-contracting out (real cash) handling who do the job for less cost than the back staff cost
If you you use a Switch/Debit there is no charge to the Payee or Vendor, a Visa card adds a cost to both Payee or Vendor, However If the Payee has a positive balance there may be zero cost
That's why No Cash

That about it in Twenty line and Never mention Brexit and the rise of Money Laundering within the exited UK

[brian f]

I have no problem paying by card or at times cash, however contacless limit has increased to £100 which concerns me.

[stivis]

I also have concerns about that, if you look at what your doing in the purchase via contact-less, it legitimate to have concerns
I don't use contactless at all and, no wifi (hard cabled)
In part distrust comes from getting Cards nicked years ago plus police,and banks attitude toward the consumer(me)

[brian f]

I suppose one Good thing about contacless is the card dont leave your hand.* In the past six months i have found a card in the card reader at the self service checkout in tesco and a card in an ATM.

"Baddies" would have a field day finding a debit card with contactless now at £100. If you do lose a card inform bank by phone asap.


* I think contactless has some sort of security installed as now and again at random i have to insert card and put in pin number.

Dont ask me about mobile phone payments.

[stivis]

Some software can by-pass the limit, In older time there was a person who over-wrote the limit or protocols .but making it software controlled removes that.
Less is more
But Chips are cheaper than people

An aside, Clydesdale Bank taken over by Virgin Money, the CB logo are now removed, VM send me a debit card , No big deal I thought, but I read the letter and It say " we're going to change the PIN, and we'll send you a note of that PIN in 3 or 4 days (they are going to cancel the CB one and It's still go 18 months to expire,
OK I wait and a letter appears I recognise the name ,an owner of the house about 18 years ago,
I look at the return address and Post Code , VM and CB
So I copy the letters , and send them together with a letter asking whose the letters are for (sarcasm) question their security, that was about 15 days ago
Security is just a meaningless wally word to impress only themselves, It what is now called "a marketing tool"
A for the days of night safe and big keys

[brian f]

Security is just a meaningless wally word to impress only themselves, It what is now called "a marketing tool"
A for the days of night safe and big keys

Yep, gone are the days crooks in balaclavas tooled up with sawn off shotguns...

[stivis]

Ah the MK 2 Jag and the Console GT,
Real cars with little jewelry, sorry correct lingo "Tomfoolery"