Discussions

We accept debit/cheque/credit/money order or E-transfers. Cash is brutally expensive to deal with and revenue Canada hates it. (They don’t hate it...but they sure want to know where you got it and see that you turned it into some form of digital/traceable currency.). Try cashing out a till and reconciling the cash in the till with the receipts then deposit that every night and keep those receipts...brutal...not worth the pain.  
 
Cash WILL disapear...if you want to know why research the whole “Greece going bankrupt and why”

MrDobalina said "We accept debit/cheque/credit/money order or E-transfers. Cash is brutally expensive to deal with and revenue Canada hates it. (They don’t hate it...but they sure want to know where you got it and see that you turned it into some form of digital/traceable currency.). Try cashing out a till and reconciling the cash in the till with the receipts then deposit that every night and keep those receipts...brutal...not worth the pain.     Cash WILL disapear...if you want to know why research the whole “Greece going bankrupt and why” "

Seems kind of back-wards when checks are nothing but risky, capable of bouncing and all. Especially in today's time, with the target market for anything being 18-35, and that particular group (millenials essentially) are world-known to have little to no money because of the expense of school. Actually, physically expensive, to have cash, I don't see how. If you're a smaller business with no computer to track your sales, and match its cash sales with your counted cash at the end of the night, then, yes, I get it. But if you have a business computer system that does such, then I don't see the flaw. Sure you pay for the soft-ware and stuff, but with the amount of features and capabilities they in-clude, I figure it would out-weigh the "burden" shall we say, of the actual cost

I hardly ever carry cash around with me. I dont like carrying it and I prefer keeping track of my purchases through my account. I know I spend more when I have cash on me because I'm more willing to stop at a coffee shop or convenience store to grab a treat when I have cash in my wallet. So I just leave my money in my account and deposit money when I sell something.  
 
Also using your debit/credit cards for small purchases isn't slower than using cash. Especially with the tap feature available at a lot of places. I probably get quicker service that way to be honest.  
 
But if you prefer cash, have at 'er.

Either or. No matter. A EU country just stopped its fast track to cashless though. A list of issues but it is forcing its banks to start carrying cash. Primarily I think is because cash is needed always in some situations it must be available from a bank. It was not.  
I found when systems went down cash while a option no one carries the larger sums we need. I like the businesses that go cashless. The downside is when the systems go down they have no float or a til to keep it in. No cash for change.

MrDobalina said "We accept debit/cheque/credit/money order or E-transfers. Cash is brutally expensive to deal with and revenue Canada hates it. (They don’t hate it...but they sure want to know where you got it and see that you turned it into some form of digital/traceable currency.). Try cashing out a till and reconciling the cash in the till with the receipts then deposit that every night and keep those receipts...brutal...not worth the pain.     Cash WILL disapear...if you want to know why research the whole “Greece going bankrupt and why” "

Thanks for adding an experienced perspective to that part of the topic. Have never had to deal with a register, cashing out a til, reconsiling those transactions, etc and it really adds another element to this debate to hear from someone that’s had to. I’d assume every method of accepting payment comes with its risks whether common or highly infrequent. How would you compare all of the methods you’ve seen in terms of risk from a business perspective along with cost?

Adam said "    MrDobalina said "We accept debit/cheque/credit/money order or E-transfers. Cash is brutally expensive to deal with and revenue Canada hates it. (They don’t hate it...but they sure want to know where you got it and see that you turned it into some form of digital/traceable currency.). Try cashing out a till and reconciling the cash in the till with the receipts then deposit that every night and keep those receipts...brutal...not worth the pain.     Cash WILL disapear...if you want to know why research the whole “Greece going bankrupt and why” " Thanks for adding an experienced perspective to that part of the topic. Have never had to deal with a register, cashing out a til, reconsiling those transactions, etc and it really adds another element to this debate to hear from someone that’s had to. I’d assume every method of accepting payment comes with its risks whether common or highly infrequent. How would you compare all of the methods you’ve seen in terms of risk from a business perspective along with cost? "

Even after editing its still half a page of boring business talk.  
 
Short answer I guess is think of Ebenezer Scrooge sitting in his counting house stacking coins with piles and piles of papers around him. What would take him 3 hours to enter into his ledgers takes me 10 seconds. Every coin is already accounted for in more detail than I could ever have reconciled on my own. Especially now that we're 20 times larger than we were in those days...I couldn't imagine the time and expense Canadian Tire or Superstore goes through everyday.  
 
Trying to figure out where my revenue is actually coming from and what accounts, products are costing me more money than they're making me is laid out on a computer screen in very easy to read graphs. We found it was cheaper at the end of the day NOT making the sale to a cash customer in the long run, once all of our time, etc was figured in.  
 
But I'm starting to ramble...too many branches to this answer. I can't think of any LEGAL business that would rather deal in Cash.

was out to a garage sale this weekend and saw an item that I really wanted. Had cash but not enough, so the owner suggested an etransfer. I was delighted to make the purchase as they were likely as delighted to make it!

curious to know how many people here are debt free? no credit card, student loans, car loans or personal loans... just perhaps a mortgage

To answer your curiosity, we are almost debt free. We are mortgage free, credit cards are paid monthly, no personal loans but we do have a car payment. We 75% of the time pay in cash but we do like email transfers and pay by debit/cc if it’s a big ticket item. I like getting the rewards on the cc. I used to pay a lot more in cash but I have started doing online shopping for a lot of our purchases now so I use the cc more now (but it’s paid monthly so no debt)  
 
Edited by sammy, 2018-07-16 18:59:42

Dragonfly Desires said "curious to know how many people here are debt free? no credit card, student loans, car loans or personal loans... just perhaps a mortgage "

Well, you may have guessed this because I'm the initiator of this discussion, but I'm completely debt free. Never had a loan, no cards, of any kind ever, no payments, nothing.  
Thanks

We just opened a brick + mortar retail space downtown Brandon as part of the revitalization project. We've made the choice to go cash-less for many reasons. We keep a very small coin float for those who only have cash on them at the moment, but otherwise we encourage payment by card or phone. It's 2018; we may be reliant on technology, but that doesn't mean if the power goes down we are screwed. Our POS system is run through an iPad, and so we'd be good for at least a day without power. If the wifi were to crash, we can connect via a cell phone, plus we have the capability to run off-line if need be. Cash is the way of the past.

MrDobalina said "We accept debit/cheque/credit/money order or E-transfers. Cash is brutally expensive to deal with and revenue Canada hates it. (They don’t hate it...but they sure want to know where you got it and see that you turned it into some form of digital/traceable currency.). Try cashing out a till and reconciling the cash in the till with the receipts then deposit that every night and keep those receipts...brutal...not worth the pain.     Cash WILL disapear...if you want to know why research the whole “Greece going bankrupt and why” "

That you say that cash will disappear when there is such a cash heavy underground economy around Brandon.  
 
I'd love to see the end of cash because then perhaps everyone would be more honest and pay their fair share of taxes, but I can't see it happening soon. Being in the construction industry, I can say it's just too ingrained in the Brandon area right now. Not only was I asked almost monthly to drop taxes in exchange for cash payment, I had employees ask me to pay them under the table too. Not to start anything here, but it was often newcomers from other continents that asked for cash payments.  
 
Kinda hard to pay legitimate bills with cash you can't explain....