Cashless, cash is no longer King

In the same way when we talk about cash flow now days, we didn't just mean the paper money that flows in and out of our accounts.

 

Credit is stuffed. But tenants all want the landlord to fix them up with a unsecured unlimited liability loan. Hmmmm

If Mastercard is 21.99% what a unemployed tenant risk worth?

I m not seeing many making term loan agreements with tenants. A smart lawyer with a nice precedent document could kill this. Eh Terry !! $100 x how many. It may encourage people to pay faster. And use their possessions as security eg Property security v their car. Or leftie. Terry Is that a securable asset ?

 

Westpac not accepting cash deposits in brack as of 30 of August and cheques later this year.
Can anyone shed any further light on this?
Thoughts?

 

Had a quick look at the announcements with some of the banks I have a small interest in and can't find anything,but it will be interesting to see if this as I think it will happen and in some ways it may bring a lot of money out into the open..imho..

 

I have found that most places PREFER plastic, but will still except cash.
You can't use plastic if there is a power outage.....

 

Power outages account for a tiny amount of time (likely under 0.1% of the time), plus most shops wouldn't be able to operate without power anyway, as they need lighting. Petrol stations and the like won't operate either, as they can't pump.

So not much of an issue in the developed world.

 

True, but it can be quite frustrating in remote locations if you don't have any cash and the power is out for an extended period of time. Many shops still operate without power.

 

I still accept cash, especially if it is large brown paper bags .

TBH, they don't have to be brown, they don't have to be paper but I do prefer large (economy of scale) .

 

I only really use cash if I'm overseas. Hopefully we will get rid of coins because they are useless and annoying.

 

Most of the major cities in China are cashless and cardless too. All wechat, alipay and facial recognition. Australia is way behind..

Hence perfect for those carrying fake/worthless RMB or proceeds of crime to wash through biz and property