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Cash still king for many, despite push for card-only payments (www.rnz.co.nz)

submitted 4 months ago by [email protected] to c/[email protected]

15 comments fedilink hide all child comments

In a world of Afterpay, tap and go and online shopping, cash is - surprisingly - still king.

Many said they still carry notes and coins in their wallets, and the amount of cash in circulation has almost doubled in the past 10 years.

One person spoken to by RNZ said they carried cash they received in tips from working in a restaurant, while another said her mum often gave her cash.

But a third said it felt "flippant" to carry cash: "I don't really like to keep it because then I tend to spend it and I'm trying to control my spending."

Some said carrying notes and coins was essential in a natural disaster.

"I do love to have cash because I kind of feel secure," one man told First Up.

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[–] [email protected] 6 points 4 months ago (9 children)

It's interesting that some people find that to be the case. Personally I download transactions from my back account at the end of each month and track what money was spent on. Cash is untraced and free to spend!

Also, after some bank greed we now have 2% surcharges at most places for tap to pay (we call it paywave), and credit card transactions in general. Knowing this goes straight to the bank, it's basically "would you like to make a donation to the bank?". No thanks, I'll insert my card and pay that way.

[–] [email protected] 4 points 4 months ago (8 children)

In the US I was most exclusive debit card for gas and daily expenses, cash for anything else (esp. saving to buy gifts) but moving to EU changed that. Mostly cash, but there has been a change in our business where it used to be about 50/50 and skewed more to cash, after 2 years dealing with covid its about 75/25.

Also wanted to note my name is not Dave.

[–] [email protected] 3 points 4 months ago (7 children)

I guess non-Dave's are acceptable. I'm actually curious that you moved from the US to the EU and are now using more cash. I always think of the EU as being more digital on the finance side, not sure why, I've never been there.

[–] [email protected] 3 points 4 months ago

Depends largely on where you are, but in Germany it’s fairly common to carry and pay by cash, something I’m going to have to get used to since moving from AU.

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