Re: The Next Bank Heist: DEBIT CARDS

 wrote:

Well I doubt you'd ever see fees on both sides of the transaction.
But I believe there will be a loosening of the merchant account
agreements where minimum purchases for plastic will be required, and/
or the merchant will be permitted to pass the fees directly to the
customer for transactions below a certain limit.

Cash will never be "illegal" in the strict sense.  I'm already seeing
some evidence that cash will not be an option in some cases.  For
example, over the past few months both my doctor and dentist have
stopped accepting cash for insurance copays.  And for my dentist it's
really silly.  My copay for a routine visit is only $5.  I can't
believe they'd rather pay the transaction fee on that small amount,
than take a $5 bill from me.

 

I suspect that a major factor in the decision not to take cash is to
make the office less of a target for being held up/robbed.

--
Rich Greenberg  N Ft Myers, FL, USA richgr atsign panix.com  + 1 239 543 1353
Eastern time.  N6LRT  I speak for myself & my dogs only.    VM'er since CP-67
Canines:Val, Red, Shasta & Casey (RIP), Red & Zero, Siberians  Owner:Chinook-L
Retired at the beach                                     Asst Owner:Sibernet-L

 On Dec 4, 12:48 pm, ric...@panix.com (Rich Greenberg) wrote:


It also saves thenm the time and effort to write out a receipt for
cash.  I collect money for an organization and always encourage
checks. It's proof for both of us.

As to using credit cards,  I'll still use mine whenever possible to
get that reward credit.  My debit card pays zilch.

 On Dec 4, 11:18 am, tweeny90...@mypacks.net wrote:

Hadn't thought of that, but it makes sense.  The cost the handle my
little $5 bill, or a whole bunch of them, probably far exceeds the
transaction fees.  They have to write receipts, account for and
safeguard the cash, then haul it to the bank, or pay for a guard
service to pick it up.  Point taken.

As to writing a check, that's off the table.  I haven't carried a
check book in over 15 years, since my credit union started offering
ATM/Debit Cards to their customers who know how to keep track of their
money.  I write one check every two weeks, to my cleaning lady.  And
starting next month she'll have a PayPal account her customers can use
if they wish, so those will gone.  I may never have to order checks
again.


Nor does mine.  My credit card, offered by my credit union to their
preferred customers, pays no rewards other than: no annual fee, full
30 day grace period from transaction date, and 6.5% on the very rare
occasion that I have to let a balance ride for a while.  As
infrequently as I use the card that's more than enough reward for me.

 In article
 tweeny90655@mypacks.net wrote:


I agree. I use my Visa card as much as possible. I pay it off in full
each month and I collect points toward air mileage. It also lets me
avoid the need to carry around as much cash with me, which makes it less
likely that I will be robbed of my money.