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Topic: Electronic Payments a Curse...

SparklingCrystal 💖💎

Mon 07/10/23 04:09 AM

The other day I came across an interesting article, something I hadn't thought of before.

Years ago we were encouraged to pay in shops and supermarkets with our bank cards instead of cash.
(the Dutch generally don't have credit cards)
We us these bank cards to pay at cash registers using what is called PIN machine, a device to pay electronically. It was encouraged as it was less labour intensive and thus cheaper and bladibla.

Business owners weren't too happy as each transaction cost them money so at first they try to discourage people from using this electronic system and were even difficult about it if you didn't have cash.
It got so far over the years that few people have cash. Everything is done electronically, from paying in shops, paying rent & bills (all done via online banking), to a parking ticket for parking space.

Now someone posted the following (I'm NOT certain about the amount
If you electronically pay the hairdresser E50 the bank takes off E1.25 transaction cost.
When the hairdresser then pays his garage that E50 for a repair, the bank takes off E1.25 transaction cost.
When the garage keeper pays the supermarket E50 for groceries, the bank takes off E1.25 transaction cost.
And so on and so forth...

Meaning, after x amount of payments the E50 isn't worth E50 anymore as the bank has taken of snippets again and again and again.
When on the other hand side you pay CASH and have a E50 bill, it will remain E50 no matter how many times it's used to pay. No one takes off any costs, so it doesn't lose its value, it is and remains E50.

I never thought about this whole money scheme/scam but dang!
And we're all so used to electronic payments, that the idea of going back to paying cash isn't appealing. For instance in the supermarket I prefer to use express checkout, what we call "fast cash register" as I then don't have to wait in line. But... I can then only pay with my bank card.
If I want to pay cash I have to queue up which isn't pleasant during tourist season!

And I couldn't even park my car when visiting my mother as the parking meters often don't take coins anymore.
And so on and so forth...

Without fully realising it our desire for ease and comfort is costing us dearly.

Etsin

Mon 07/10/23 04:45 AM

Get with the program!

soufiehere

Mon 07/10/23 07:21 AM

We also use debit cards here Crystal, however, there
is NO charge to the consumer with each transaction.

Unknow

Mon 07/10/23 09:50 AM

Get with the program!

NO, NO, NO!!!

The banking system is designed to enslave.
Can't you see the writing on the wall?
Once the financial system goes to 100% electronic, you will not be able to access your funds if you don't behave in accordance what you are told.
aka... be their biotch... or else!!!

SparklingCrystal 💖💎

Tue 07/11/23 03:32 AM

We also use debit cards here Crystal, however, there
is NO charge to the consumer with each transaction.

No, the business owner you pay gets charged.
It DOES mean the cost of all that has led to an increase in prices to make sure business keepers don't lose too much money.
So we don't know we're paying it, but we are, indirectly.

Also, withdrawing money from the bank costs a fee, putting money in the bank costs a fee!?!
And to make it even better...
You can only take a max of E250 a day out of an ATM with a maximum of E1250 a week.
You can get an account that allows for more, but then you pay to have that more luxurious account.

And having an account costs money as it is, a fee that gets automatically taken from your account, for me every month.
And I believe an additional fee for the bank card.

My bank card doesn't work so well anymore so I wanted to get a new one.
Suddenly this would cost me E25???
It used to always be free in case of damage, now it costs me money.

All in all it may appear using the bank is free, it is not. I think we'd be shocked if we'd add up all the fees we get charged.

Banking has always cost money, ever since the Knights Templar invented it. And a bit is okay and understandable, but it's getting out of hand.
Certainly since it costs them less since it all electronically done. They don't even have brick & mortar banks to go to anymore so they're saving a helluva lot on that alone!

And electronically means they can see whatever you do, wherever you go etc. etc.

That was the point of that message I saw: pay cash as no one makes money from that bill, plus they don't know where you are nor what you're buying.

SparklingCrystal 💖💎

Tue 07/11/23 03:36 AM

Get with the program!

Exactly. There was this clip that had gone viral of exactly that in some Asian country. N-Korea? Or China?

There was facial recognition everywhere and even something as harmless as jay-walking got you penalty points. A certain amount of these had very serious consequences like no mortgage, no schooling and whatnot.
They can even deny access to shops and supermarkets that way.
You'd basically become an outcast of society.
Total control...

It's scary as hell!

Unknow

Fri 07/14/23 12:12 AM

Meh i use my phone these days and pay with Google Wallet - i'd rather use something else because after being an early adopter with google i despise them now due to privacy concerns.

Heck i don't even need to carry my wallet with me anymore too because i can source my drivers license through the mobile app too for the (sigh) charming ecilop.

Yes, just insert that chip right now in my wrist, we're getting there, i gather.

oldkid46

Mon 09/04/23 07:48 PM

The charge isn't to the consumer but to the merchant who accepts the card. Some merchants here in the US are adding in a "convenience fee" to the purchaser for using the card.

Jaan Doh

Wed 09/06/23 01:03 AM

Hiya Crystal,

Yes it's worrying, our rights are being stripped away slowly but surely...

And I feel you're also right as to the future consequences of what's round the corner...

I'd like to say also that banks introduced this PIN so as to help you keep your money Safe, so someone who finds your (lost) wallet/purse cannot use your your cards without knowing the PIN...

And with the introduction of contactless cards, now anyone who finds your lost cards can just use them WITHOUT the PIN...

I feel Sam is right in saying just insert the chip now because we know it's just around the corner really, no matter how much we may not want it (a bit like the covid vaccine)...

I still like to use cash in the supermarket :joy:

🛒 and yes it means I have to queue and wait, but hey its no biggie lol...

Rock

Mon 09/11/23 01:25 PM

I'm full on 'cash and carry'.
If any business won't accept cash,
they simply do not deserve my business.

I understand, some things, such as Amazon,
require electronic payment, simply due to
the type of business it is.
I don't do business with them either.

bobtail76

Fri 09/15/23 06:53 PM

Absolutely... it's the same story how it happened here. Charged a minimum fee at first, then eliminated the fee. Here's where it get's fun -

In Canada, all banks and the whole system goes through 1 provider. The provider went down last year and everyone without cash, from coast to coast, was left to fend for themselves. I think SOME credit cards worked. I was on a road trip at the time, but am fortunate to be a stubborn bastard and keep cash on me - so I could pay for my fuel, hotels and meals. I completely agree with Rock. If they won't take your cash, they don't deserve your business

catinidaho

Fri 09/15/23 07:38 PM

Cash.

Unknow

Tue 09/19/23 11:33 AM

cash is diaapearing it be all virtuall soon, bible propecy says this.

Revelation 11 Then I saw a second beast, coming out of the earth. It had two horns like a lamb, but it spoke like a dragon. 12 It exercised all the authority of the first beast on its behalf, and made the earth and its inhabitants worship the first beast, whose fatal wound had been healed. 13 And it performed great signs, even causing fire to come down from heaven to the earth in full view of the people. 14 Because of the signs it was given power to perform on behalf of the first beast, it deceived the inhabitants of the earth. It ordered them to set up an image in honor of the beast who was wounded by the sword and yet lived. 15 The second beast was given power to give breath to the image of the first beast, so that the image could speak and cause all who refused to worship the image to be killed. 16 It also forced all people, great and small, rich and poor, free and slave, to receive a mark on their right hands or on their foreheads, 17 so that they could not buy or sell unless they had the mark, which is the name of the beast or the number of its name.

18 This calls for wisdom. Let the person who has insight calculate the number of the beast, for it is the number of a man.[e] That number is 666.

Unknow

Tue 09/19/23 11:41 AM

i am always supersized people have no clue whats going on in the news these days. that amazes me.

yet it must happen.
blind are the blind, just like in noahs day.

oldkid46

Tue 09/19/23 12:00 PM

Several local. small bars and clubs I frequent have a sign that says they won't accept credit or debit cards. The arrow on the sign points the way to the ATM where the customer can get cash at their expense to pay the business.

Toodygirl5

Thu 10/05/23 01:49 PM

We use debit cards here and Cash is also welcomed.

Menante

Thu 10/05/23 10:12 PM

cash is really disappearing and our electronic payments system has become a platform to reduce cash in it value

Unknow

Fri 10/06/23 05:57 PM

cash is really disappearing and our electronic payments system has become a platform to reduce cash in it value

it is supposed to, the christian bible said this 2000 years ago.
16 It also forced all people, great and small, rich and poor, free and slave, to receive a mark on their right hands or on their foreheads, 17 so that they could not buy or sell unless they had the mark, which is the name of the beast or the number of its name.

18 This calls for wisdom. Let the person who has insight calculate the number of the beast, for it is the number of a man.[e] That number is 666.

so that happen now and between 38 years
if you read the christian bible lots of the bible has been fulfilled already.

Edited by Unknow on Fri 10/06/23 06:10 PM

goddust

Mon 10/09/23 06:07 PM

its just so sad that they want to control everything

Morticia

Mon 10/09/23 06:40 PM

I don't carry much cash anymore and usually pay with my phone or a debit card. I do most non-food purchases online. Some establishments don't even take cash nowadays, and that's very inconvenient for people who don't have or don't really use e-payments

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