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What are banks for?
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By (user no longer on site) OP 37 weeks ago
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Just this.. what are banks for?
If person A does work for person B, why does person B have to give person C (banks) person A's money and make it harder to access?
I can't access the amounts i want to without going into a branch, so to get all my wages takes several days of going back and forth to cash machines and drawing my daily limit or waiting until Saturday and going in to a local branch (my local branch is shutting soon) just to get my cash to pay my bills?
I've had all kinds of problems with accessing my own money through banks, I've never once had a problem accessing my own money from my safe or wallet though.
What happened to the ease and simplicity of just getting an envelope with your wages each week/month and not having the endless bloody problems a third party having your money brings?
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By *bi HaiveMan 37 weeks ago
Forum Mod Cheeseville, Somerset |
I find it really convenient to rarely have to use cash.
Wages? Paid directly to my bank. I can't ever lose it or have it pinched. I don't have to remember where I put it. I don't need a secret hideaway at home.
Bills? All paid automatically and listed on my banking app. It even tells me if I have any left that month to pay and what my balance will be once they're paid. Great for budgeting.
I don't have to worry about having the right change or spending money just because I have a wad of cash on me (which used to happen years ago at the usual Friday Post work trip to the pub).
There's so rarely gonna be a time I need to withdraw £300 a day in cash that I can easily plan it when needed. And as most banks are shut I'll just use the post office as there's one pretty much everywhere. Its a 30 mile round trip to my bmnearest bank branch and a 2 mile one to use the post office.
To me there's zero downsides and umpteen benefits to banks, card payments, online banking and anything automated.
It's also cheaper for businesses to operate using less cash so helps them too.
Horses for courses.  |
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I think different people have different needs and even abilities. I have commented on threads previously advocating the abolition of cash and how selfish that is. It also impacts on many pleasurable activities that I will never consider using a card for. The busker on the street, the charity collectors, all those little things and a lot more. More importantly, lots and mean lots of elderly people don't even have a bank account, just a building society and a book. And they love hoping on a bus, using their free bus pass, chatting to the driver and the lady at the bank. Automation in moderation and as an alternative and not the only means. Cash and card side by side. |
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"I think different people have different needs and even abilities. I have commented on threads previously advocating the abolition of cash and how selfish that is. It also impacts on many pleasurable activities that I will never consider using a card for. The busker on the street, the charity collectors, all those little things and a lot more. More importantly, lots and mean lots of elderly people don't even have a bank account, just a building society and a book. And they love hoping on a bus, using their free bus pass, chatting to the driver and the lady at the bank. Automation in moderation and as an alternative and not the only means. Cash and card side by side. "
Most buskers and chuggers and even homeless people now take card 
Evie |
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"Just this.. what are banks for?
If person A does work for person B, why does person B have to give person C (banks) person A's money and make it harder to access?
I can't access the amounts i want to without going into a branch, so to get all my wages takes several days of going back and forth to cash machines and drawing my daily limit or waiting until Saturday and going in to a local branch (my local branch is shutting soon) just to get my cash to pay my bills?
I've had all kinds of problems with accessing my own money through banks, I've never once had a problem accessing my own money from my safe or wallet though.
What happened to the ease and simplicity of just getting an envelope with your wages each week/month and not having the endless bloody problems a third party having your money brings?
"
It's rare not to pay your bills by direct debit these days to be honest.
Evie |
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"I think different people have different needs and even abilities. I have commented on threads previously advocating the abolition of cash and how selfish that is. It also impacts on many pleasurable activities that I will never consider using a card for. The busker on the street, the charity collectors, all those little things and a lot more. More importantly, lots and mean lots of elderly people don't even have a bank account, just a building society and a book. And they love hoping on a bus, using their free bus pass, chatting to the driver and the lady at the bank. Automation in moderation and as an alternative and not the only means. Cash and card side by side.
Most buskers and chuggers and even homeless people now take card
Evie "
I am sure they do. I will not walk up with my card to do it though. |
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If we want a large amount of cash we have to take several forms of id into the bank then submit to and answer questions to determine that we're not being scammed by someone.
It's annoying but it's necessary. .
I have to say that the current situation with Sainsburys, Tesco, Argos and yesterday with McDonald's makes me realise that we need to make sure we use cash as much as possible. |
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"
What happened to the ease and simplicity of just getting an envelope with your wages each week/month and not having the endless bloody problems a third party having your money brings?
"
Ease and simplicity for who? Certainly not the HR department/ your employer.
Also what bills are you paying in cash? How are you paying those? By lifting cash at a bank then going to a post office with the paper bill or something?
Could it be that the endless problems you are experiencing are because you have chosen to deal so heavily in cash, which is inefficient when a system of electronic transfers exists which most of the companies we pay bills to prefer to use (and some even provide discounts for it)
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"If we want a large amount of cash we have to take several forms of id into the bank then submit to and answer questions to determine that we're not being scammed by someone.
It's annoying but it's necessary. .
I have to say that the current situation with Sainsburys, Tesco, Argos and yesterday with McDonald's makes me realise that we need to make sure we use cash as much as possible."
I went back to paying as much in cash as possible in the last couple of years and so have many people I know. It's ridiculous contemplating abolishing cash and to be honest it is mostly talked about in this country. |
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"If we want a large amount of cash we have to take several forms of id into the bank then submit to and answer questions to determine that we're not being scammed by someone.
It's annoying but it's necessary. .
I have to say that the current situation with Sainsburys, Tesco, Argos and yesterday with McDonald's makes me realise that we need to make sure we use cash as much as possible.
I went back to paying as much in cash as possible in the last couple of years and so have many people I know. It's ridiculous contemplating abolishing cash and to be honest it is mostly talked about in this country."
We decided several years ago to be as cash based as possible. I think there are pros and cons with all payment methods. Our approach is that I have a small amount of cash and a card and Mr N has a larger amount. We've got all bases covered when we're out together then.
I think keeping the majority of your money in a bank or building society is wise but with access to physical money becoming ever more limited we need to ensure we're not one hacker away from being without funds altogether. |
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I rarely use cash so can't really relate. Horses for courses, but I could think of nothing worse than getting my salary in cash and having to wander around paying each utility bill in person rather than by Direct Debit through the bank. I like that everything just happens automatically.
It's also safer at a macro and micro level - from crime or also just simply dropping that envelope full of cash. And banks lend money to people and companies that need it based on their holdings, so without deposits people wouldn't be able to get credit for anything. |
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"
I have to say that the current situation with Sainsburys, Tesco, Argos and yesterday with McDonald's makes me realise that we need to make sure we use cash as much as possible."
People have gotten too used to card payments - when they work they are brilliant. And they work almost always. Except when they don’t and then you are screwed. I always have access to cash in case of an emergency and I can’t work out why anyone wouldn’t have at least some on them. |
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The richer get to profit from the poorer and it's long established within the structure of society. That wealth isn't an attractive target for the conservatives to target for taxation, when most of the income of the average person is, should tell you all about the way the world is organised.
The majority are the fodder of the minority, to keep them happy. There have to be comprehensive systems in place, to prevent things changing much, if it all. Banks are a core part of the structure, that you're told keeps you safe.  . It's to keep them safer |
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"
I have to say that the current situation with Sainsburys, Tesco, Argos and yesterday with McDonald's makes me realise that we need to make sure we use cash as much as possible.
People have gotten too used to card payments - when they work they are brilliant. And they work almost always. Except when they don’t and then you are screwed. I always have access to cash in case of an emergency and I can’t work out why anyone wouldn’t have at least some on them."
I learned my lesson when I was out with a friend and she had to pay for me because the card machine was down. |
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"Just this.. what are banks for?
If person A does work for person B, why does person B have to give person C (banks) person A's money and make it harder to access?
I can't access the amounts i want to without going into a branch, so to get all my wages takes several days of going back and forth to cash machines and drawing my daily limit or waiting until Saturday and going in to a local branch (my local branch is shutting soon) just to get my cash to pay my bills?
I've had all kinds of problems with accessing my own money through banks, I've never once had a problem accessing my own money from my safe or wallet though.
What happened to the ease and simplicity of just getting an envelope with your wages each week/month and not having the endless bloody problems a third party having your money brings?
"
There are many small businesses who deal with a lot of cash on a daily basis, some of these will pay their staff in cash.
On the other hand; most businesses outside of retail receive no cash at all, for them to pay their staff in cash would be difficult.
Also, cash wages increase the chance of both crime and errors. As well as introducing difficulties in managing tax & national insurance payments.
Cal |
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Just writing near same as above..
You probably don't get cash in hand as companies are increasingly aware of liabilities. Them keeping large amounts of wage cash is a risk, them paying people ad hoc, days labour means possible hmrc investigation, any injuries if they are working in this type of way and not insured would shut them down. Systems are now widely used that automate payments, change tax, calculate hours and issue payslips than just relying on good faith that a 40hr week = x amount. |
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