Do you use cash?

[Binary_Bark]

Only use cash at petrol stations and toll gates

 

[RedViking]

This is Africa. Cash is king.

 

[krycor]

When someone gives it to me for refund or sale of 2nd hand goods, I usually try and spend it as equally fast.

I don’t like cash as I can’t track it(I am the one in family monitoring expenses/budget).

So yah.. occasionally we have 1x R50/100 note hidden in car as a “backup” but other than nope(ever leave a wallet at home and need to get basics at shop.. it happen once). We also rarely withdraw cash to give as gifts as there is no equiv other than vouchers which imposes merchant(other peoples kids.. what u gonna give them).

 

[krycor]

It is unrealistic, as there are many people in the economy totally dependent on cash still.

Yes it is very limited these days but enough of a problem to decry the difficulty of getting hold of cash when you need it especially small change.

Agency banking.. in Africa it’s a thing. Basically if it was offered here in SA I’d get rid of my cash this way..

Ie you tell your bank you have some cash you want to deposit, they check your gps and track while someone else at some point asks for cash.. if nearby the bank facilitates sending them your way to conclude transaction(small value only, various security checks but typically rest of Africa isn’t as violent as SA). They do this with other services too eg buying airtime etc. Some people become semi employed to do it hence the become agents.. dynamic where everyone can be an agent is new. Soon my case I’d go to an agent and give cash which instantly shows upon my bank app.

It’s useful in Africa where ATMs outside of CBD is a problem due to infrastructure and thankfully telecoms has broader coverage.

 

[krycor]

I used to need cash for those payments, but now even they are by EFT!

My cleaning lady, vendors on the road etc all say the same thing.. you can’t steal eWallet but you can cash. No-one wants to walk around with cash..

This is why I find the limited support for eWallet at merchants & interoperability of bank eWallets annoying.. as it’s a 1st step to formal banking.

This also why I think SARB should bring in CBDCs sooner rather than later for local use(they seem to want to delay local transactional use case albeit a major way to reduce unbanked) despite the fact every bank will cry about it(it will reduce transactional fees).

 

[Affieplaas]

To the people paying their gardeners and domestic workers in cash. Do those people not know of cardless withdrawals?

With Standard Bank the limit is R5 000 per day.

Hell nowadays you can withdraw ABSA CashSend and Standard Bank Instont Money at a PEP if the person is illiterate, so one of the tellers can do it for them.

If I tell my domestic worker to go and find an FNB ATM, do a cardless withdrawal and then walk home with nearly R5,000 in her pocket she will share some choice Cape Flats phrases with me.

It is basically a death sentence.

She hides her money in a bag at the back of one of my kitchen drawers and only take enough with her in the afternoons for milk/bread/taxi.

 

[Billy]

Cash is so "Last Century"!

 

[Hare]

In 2011 I was in Brazil when the SHTF and people where unable to withdraw funds from their banks/ cash institutions. In the stretch of a week I went from comfortable to absolutely fu*ked. Luckily I had a open return ticket so I could fly out.

Will never be caught without cash again.

 

[Sepeng]

Occasionally, and mostly for school related things; they'll sometimes have these days - hot dog, casual, popcorn what have you - where you're asked to send cash with.
Petrol attendants, car guards.

 

[PoppieChoffel]

Tip my petrol jockeys each week

Yeah, this and car guards are the only times a draw cash

 

[krycor]

Occasionally, and mostly for school related things; they'll sometimes have these days - hot dog, casual, popcorn what have you - where you're asked to send cash with.
Petrol attendants, car guards.

Curro has an app which u preload.

 

[saturnz]

I will pay cash but I don't receive cash.

 

[stefan9]

Never, if you don't have a card or eft option you ain't getting paid by me.

 

[Japied]

Try to avoid handeling cash as much as possible.

 

[Genesistt]

I do use cash, but not often. Mostly to pay for my McDonald's drive thru breakfast muffin and coffee. And with FNB being so stingy on their ATMs it is becoming a problem for me to get cash. I'm one of those rare creatures that like to shop in the morning when the store just opened and then a lot of times, the cashiers (at the shops where you can get Cash@Tills) don't have enough cash in their drawers to cover what I need to withdraw. Or their systems are offline and I'm up the creek. Or the shop isn't part of FNB's Cash@Tills thing. Either way, it's becoming a bit of a mission to get cash.

 

[Billy]

I have been with FNB for 15 years, and have never drawn cash from my account.

 

[Dan C]

Yeah, this and car guards are the only times a draw cash

I only withdraw cash

 

[PoppieChoffel]

I only withdraw cash

Thanks, yes

 

[Dan C]

Thanks, yes

Was just teasing... but yes the correct term is withdraw. Now go and get some decent colored plates

 

[PoppieChoffel]

Was just teasing... but yes the correct term is withdraw. Now go and get some decent colored plates

My plates are aces you damn curmudgeon

I don't take offense to corrections, it was a literal thanks