Going cashless

purple face said:
A while ago I posted a list of the most popular banks and Investec is the second to worst bank in South Africa
Click to expand...
Second least popular bank doesnt mean "worst" bank.

I bank at multiple banks mercantile bank, capitec, FNB, Investec etc and happier at investec than the rest.

(multiple banks needed for crypto/fiat on/off ramps)

I never carry cash tap everything
 
In the 3 years I lived in Moz, I think I used cash twice. Even in the very rural area I lived cash just wasn't used at all. M-PESA or e-wallets if you like are the most popular way of transacting there. Even bribing cops is a cashless transaction.
 
Same here, wife is the only one who ever has cash, but even she doesn't get it from the ATM. It comes from other wives buying our clutter on fb marketplace.
 
Datura said:
In the 3 years I lived in Moz, I think I used cash twice. Even in the very rural area I lived cash just wasn't used at all. M-PESA or e-wallets if you like are the most popular way of transacting there. Even bribing cops is a cashless transaction.
Click to expand...
is MOZ, Mozambique?
 
purple face said:
is MOZ, Mozambique?
Click to expand...
I Cant Modern Family GIF by HULU
 
Kaapie said:
half our turnover is usually cash.
banks are making so much profits off of fees. makes me mad.
Click to expand...
My mom and her partner run a cash business. They deal with coin operated machines. They have stopped cashing the coins in at the banks. They have a host of shops and restaurants that call them when they need coins and then they just deposit the notes at an ATM. To change coins at the bank costs a fortune. Thieving fkkrz
 
AlmightyBender said:
I've been cashless for two years now and recently I've also gone walletless because of the glorious Google Pay app for Android. Bless those angels for bringing that to this country.
I just take my phone or Garmin watch now and it handles everything.

My ultimate ambition would be to:
1) get a car that doesn't require a physical key
2) replace the locks at my home to smart locks that don't require a key
3) Automate gate and garage, maybe put a button in the car or something

If I can do that then my pockets will be free forever except for carrying a phone. One day.
Click to expand...
then the phone goes missing...
 
Datura said:
My mom and her partner run a cash business. They deal with coin operated machines. They have stopped cashing the coins in at the banks. They have a host of shops and restaurants that call them when they need coins and then they just deposit the notes at an ATM. To change coins at the bank costs a fortune. Thieving fkkrz
Click to expand...
The ATM deposits is what annoys me. And it only takes 100 notes at a time, and you still get charged 1% of deposit. Bulk deposits not much better.
So for the small business generally 1% for cash, 1.5 - 2% of card transactions. Account fees. Add in Tax, VAT.

Fair to say any small/medium business owner feels like maffakas always got their hands in your pocket.
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X