How much of your transactions are in cash?

[thebigfella]

As for the the upkeep of the banks maintenance and op ex costs, integration with card providers, regulatory requirements and so on if we just pulled out of the banks which charge the most would it create a cheaper provider thus bringing down the hidden/extra cost that we are being billed for?

There are plenty of payment service providers competing in the space but ultimately they are not banks (they are have no banking license and regulated differently), so they are intermediaries and cannot offer additional banking services which are needed e.g. accounts.

Ultimately it's the same issue, someone has to pay and unfortunately that gets passed onto the customer in most cases. Modernisation programmes for banks and new providers make it easier to maintain platforms but ultimately the majority of ongoing cost will come down to keeping ahead of constantly moving regulatory, fraud and cyber security.

[AustinPowers]

Re: ATM's  charging for cash withdrawals .

You can  withdraw cash for free  in the Post office.  Not sure you can do so with all bank  cards/accounts, but there's a number   of them you can withdraw for free there.

[Tony Baloney]

As for the the upkeep of the banks maintenance and op ex costs, integration with card providers, regulatory requirements and so on if we just pulled out of the banks which charge the most would it create a cheaper provider thus bringing down the hidden/extra cost that we are being billed for?

There are plenty of payment service providers competing in the space but ultimately they are not banks (they are have no banking license and regulated differently), so they are intermediaries and cannot offer additional banking services which are needed e.g. accounts.

Ultimately it's the same issue, someone has to pay and unfortunately that gets passed onto the customer in most cases. Modernisation programmes for banks and new providers make it easier to maintain platforms but ultimately the majority of ongoing cost will come down to keeping ahead of constantly moving regulatory, fraud and cyber security.

Their modernisation programmes must be glacial as I know people still maintaining IBM mainframes in the banking industry.

[thebigfella]

As for the the upkeep of the banks maintenance and op ex costs, integration with card providers, regulatory requirements and so on if we just pulled out of the banks which charge the most would it create a cheaper provider thus bringing down the hidden/extra cost that we are being billed for?

There are plenty of payment service providers competing in the space but ultimately they are not banks (they are have no banking license and regulated differently), so they are intermediaries and cannot offer additional banking services which are needed e.g. accounts.

Ultimately it's the same issue, someone has to pay and unfortunately that gets passed onto the customer in most cases. Modernisation programmes for banks and new providers make it easier to maintain platforms but ultimately the majority of ongoing cost will come down to keeping ahead of constantly moving regulatory, fraud and cyber security.

Their modernisation programmes must be glacial as I know people still maintaining IBM mainframes in the banking industry.

Plenty still maintain mainframes for number a reasons. They and the software running on them have evolved over decades so it's a  massive job to replace or even worthwhile as they should only be dealing with back office tasks (accounts, customer records, transactions etc...).

Payments/ATM systems integrate with the mainframes. Likewise all other systems as part of a digital modernisation roadmaps all integrate not replace.

[AustinPowers]

The Austrians (and the Germans) love  their cash:

https://apnews.com/article/austria-cash-constitution-proposal-e63078b1682b375a84d0132857374e43

[AustinPowers]

New proposed legislation   on cash availability

https://www.rte.ie/news/2024/0123/1428107-cash-ireland/

[trailer]

Is it me or are there definitely more places insisting on card only. Was at a hotel over the New Year and they only took card. No cash at all.

[Tony Baloney]

Is it me or are there definitely more places insisting on card only. Was at a hotel over the New Year and they only took card. No cash at all.

Have seen a number of small businesses now have signs up saying they prefer cash and one saying if you want to use a card they'll charge extra to cover the cost of the transaction. It is perfectly understandable that busy bars only want cards so the punter can tap and go.

[Milltown Row2]

Is it me or are there definitely more places insisting on card only. Was at a hotel over the New Year and they only took card. No cash at all.

Have seen a number of small businesses now have signs up saying they prefer cash and one saying if you want to use a card they'll charge extra to cover the cost of the transaction. It is perfectly understandable that busy bars only want cards so the punter can tap and go.

It also helps with opportunity of the bar losing money from the till

Not sure what the problem is with cash no cash, what are the benefits of just cash?

[trailer]

Is it me or are there definitely more places insisting on card only. Was at a hotel over the New Year and they only took card. No cash at all.

Have seen a number of small businesses now have signs up saying they prefer cash and one saying if you want to use a card they'll charge extra to cover the cost of the transaction. It is perfectly understandable that busy bars only want cards so the punter can tap and go.

Yeah having said that I have also seen the inverse. Places that only take cash. I think that there should be an onus on places accommodate both.

[AustinPowers]

I remember hearing a while ago that Dublin (might  be more places) taxi drivers  legally have to provide  the card payment  option or else they can't  be on the road.

Well, if that's the case, I think   That  every shop or business should be required to  take cash  or else they can't trade.


I would welcome this  new cash availability  legislation, but what's the point providing  cash machines if more and more businesses  are  legally within their rights to refuse cash?

[Armagh18]

I remember hearing a while ago that Dublin (might  be more places) taxi drivers  legally have to provide  the card payment  option or else they can't  be on the road.

Well, if that's the case, I think   That  every shop or business should be required to  take cash  or else they can't trade.


I would welcome this  new cash availability  legislation, but what's the point providing  cash machines if more and more businesses  are  legally within their rights to refuse cash?

Wouldn't set foot in a place that doesnt take cash tbh.

[Milltown Row2]

What are the benefits of cash?

You don't get into debt as there's no credit?
Avoiding bank fees?  (though getting cash out in some places you get charged)
Better to budget?

Just not convinced that using cash over card will make life easier or cheaper for that matter

[Square Ball]

A lot of take outs on the Ormeau road only take cash. Personally I try to use cash mostly but always have the card in reserve.

[Milltown Row2]

A lot of take outs on the Ormeau road only take cash. Personally I try to use cash mostly but always have the card in reserve.

Are you paid in cash?