Is cash out?

[Racey]

I read something years ago, If they can gain control and can track every single transaction at will, they have better control over us. Hmmm. Just a thought.

Bingo. Financial tracking and control is way more invasive and detrimental than anything they are doing with your smart phone currently.

 

[Bigbore500r]

It's not bad, it's popular. I'd rather get a burger from Habit than McD, Carl's or....

Tommies is where it's at . . .

 

[GETBOATS]

We will be trading sharks teeth and beads some day!! LOL

there will always be a means of conducting business for individuals privately

 

[was thatguy]

I asked at HD why 2 were card only and two were both. They told me the money changer deals are more problematic, and this way they can swap the signs and have backups if needed, and only have to fill and empty 2.

Exactly.
Another extra problem for a retailer to accommodate cash.
The cash option machine costs more, is more problematic as a unit, and then the cash itself needs dealt with.
None of this is my idea or my doing, lol, but it is reality.
The Templars invented travelers checks some 800 plus years ago more or less, redeemable at journeys end or at any friendly Templar vault not under siege… Before that people had to carry their gold or other form of currency, and none of it was easy, they’d sometimes need a whole extra donkey just to carry it! They’d get robbed, killed, etc.
And now the time for physical tokens (cash) is coming to an end. That paper dollar is only worth what the same government everyone is scared of says it’s worth. They own it after all.
The internet has virtually erased paper publications, streaming video has done away with DVDs…which previously did away with VCR tapes.
Haven’t seen a blockbuster in years. I actually go inside a bank like once every 2-4 years maybe. We deposit checks with our phones. We make withdrawals at atms with a card. Using Apple Pay is far more secure than using the actual card.
I recently attended the 4 Wides in Las Vegas.
Every single transaction wash cashless. Not a single vendor, alcohol or food or merch accepted cash. Not a single one. It’s the way it’s going to be like it or not.

 

[rivermobster]

This is the way

Baby Yoda approves of this post.

 

[4Waters]

We will be trading sharks teeth and beads some day!! LOL

there will always be a means of conducting business for individuals privately

They used to bet hotdogs on races at Terminal Island, I heard of 10k hotdog bets. That's a lot hotdogs

 

[Racey]

That paper dollar is only worth what the same government everyone is scared of says it’s worth.

No, it's worth whatever the parties involved in the transaction say it's worth. And because it's directly linked electronic transactions they are subject to that same market force.

The government has no say in what the value of a currency is, even in despotic tyrannical governments, as there is always a black market that displays the current value regardless of decree

 

[rivermobster]

I’m not one to go down this rabbit hole. But I feel like cash is on its way out. Like within a few years.

Wife wanted Habit so I walk in and there’s a few kiosks to make your own order and pay by card. No biggie but I just grabbed a $20 so I need someone to ring me up.

It probably took 5-8 mins for someone to “serve” me. I’m noticing more and more that cash is an inconvenience to businesses. I understand why (theft, storage etc) but it’s kind of concerning that businesses would prefer a CC payment.

Were you in CA?

If so, this has nothing to do with cash, and everything to do with Newscum and his new 20.00 per hour fast food worker wage mandate.

Why pay someone 20 bucks an hour, when you can buy a kissock to do the same thing!

Fuckin idiot Newcunt didn't think that fast food owners might not want to pay 20 bucks an hour??

The dude has no brains and no headaches. He's another one that should be put down.

Shit tons of people just lost their jobs...

Calif. fast-food chains slash workers as $20-an-hour minimum wage looms

California restaurants are reportedly laying off staff and reducing hours for other team members in an effort to cut costs ahead of a California state law taking effect on April 1 that will raise f…

nypost.com

 

[was thatguy]

Bingo. Financial tracking and control is way more invasive and detrimental than anything they are doing with your smart phone currently.

I just think it’s funny how everyone thinks they are hiding…while posting about hiding on a website?
And I’m the conspiracy guy!

What sort of “action” or “revolution” is based on hiding?
Thousands of people every day legally buy ammunition online with a credit card. Our own postal service brings it to our front door legally.
It’s funny to see the battles people choose.
“They’ll track you!” If you’re worthy of tracking they already know your name.
Just look at you tube.
Hundreds (if not thousands) of gun enthusiasts have channels and sites and stores showing all manner of weapons and reviews and demonstrations…and people think buying ammo with a credit card is going to flag them??
What will flag them is doing stuff illegally.

 

[was thatguy]

No, it's worth whatever the parties involved in the transaction say it's worth. And because it's directly linked electronic transactions they are subject to that same market force.

The government has no say in what the value of a currency is, even in despotic tyrannical governments, as there is always a black market that displays the current value regardless of decree

I believe the paper dollar will become disassociated with the digital dollar, and black markets will barter in whatever commodities hold value at the time.
At that point in time I simply can not see any value in a paper bill that has no value (no power) to anyone accepting it? What will they do with it? Hoard it until the big overthrow and the people save the world and restore Home Depot to a cash business?
You’re young enough you’ll likely see it happen.

 

[Racey]

I just think it’s funny how everyone thinks they are hiding…while posting about hiding on a website?
And I’m the conspiracy guy!

What sort of “action” or “revolution” is based on hiding?
Thousands of people every day legally buy ammunition online with a credit card. Our own postal service brings it to our front door legally.
It’s funny to see the battles people choose.
“They’ll track you!” If you’re worthy of tracking they already know your name.
Just look at you tube.
Hundreds (if not thousands) of gun enthusiasts have channels and sites and stores showing all manner of weapons and reviews and demonstrations…and people think buying ammo with a credit card is going to flag them??
What will flag them is doing stuff illegally.

You are thinking too extreme. It won't be about guns or ammo, it will be about they types of food you buy, your frequenting of the pub and how much alcohol you consume, the recreational activities you participate in, Government already has near total control of healthcare through Hippa law and insurance regulations.

Eventually they will deny the benefits you have paid for based on their algorithmic interpretation of your lifestyle.

You can't buy guns or ammo in china, and yet their social credit system denies people the ability to purchase what any American would consider an essential item....

 

[was thatguy]

You are thinking too extreme. It won't be about guns or ammo, it will be about they types of food you buy, your frequenting of the pub and how much alcohol you consume, the recreational activities you participate in, Government already has near total control of healthcare through Hippa law and insurance regulations.

Eventually they will deny the benefits you have paid for based on their algorithmic interpretation of your lifestyle.

You can't buy guns or ammo in china, and yet their social credit system denies people the ability to purchase what any American would consider an essential item....

Understood.
Doctors say that cancer in America can be reduced 50% by eliminating tobacco and obesity.
So when cancer treatment starts being denied to those with recorded tobacco purchases and Twinkie purchases I’d say that’d be a sign that it’s started?
I’m not arguing, I’m agreeing but also pointing out that a comparison with China is also an extreme thinking.
I think we are both right.

 

[johnner58]

Went to spring training baseball games last month, all 3 stadiums were cashless from point of entry to all concessions, the forced tip dealio not enthused

 

[MagicMan]

Always CC I like my points.

 

[rivermobster]

Always CC I like my points.

It's strange how most people Still haven't figured this out...

I haven't paid a cell phone bill in years, just by using my Verizon CC.

 

[rrrr]

When I have contractors people working for me, Its always cash. I keep a nice sum tucked away, usually carry $1000.-1500 in my pocket, old habit!

My wife always negotiates a cash discount with contractors. I just shrug my shoulders and tell them I'm the technical guy, and walk away. She handles the money, and the cost is reduced by 10% or more.

On larger amounts, like reroofing our rental property, the amount might be bigger. I think they're willing to give up the material markup to get the cash.

 

[ChiliPepperGarage]

they can already do that.
It doesn’t matter what we “want”, it’s what is coming.
Canada isn’t cashless, and as you point out they froze assets just fine.
No one on RDP gets paid in bales of cash…well, some maybe, but not typically.
Most of all get direct deposits and money transfers. Your bank does not have a corner of their vault saved for your bale that they go peel some cash off of when a withdrawal or purchase is made. It’s all digital already.
A Cash society is already an illusion.
And THAT will be painfully obvious to some when the day comes when it is announced that you have 90 days to trade it in for full value…or something like that. After that some will have big piles of fire starter.
Will we be alive to see it? Who knows.
But that is what is coming like it or not.

This is why I keep a good amount of cash in my safe at home. If they freeze my accounts I still have a way to buy things. I think there will always be a lot of people that think the same and keep cash even if the government decides it is no longer legal tender although some other form of exchangeable tangible asset may replace it. I have a large stockpile of other "items" that might be highly desirable should things go to SHTF situation.

 

[was thatguy]

This is why I keep a good amount of cash in my safe at home. If they freeze my accounts I still have a way to buy things. I think there will always be a lot of people that think the same and keep cash even if the government decides it is no longer legal tender although some other form of exchangeable tangible asset may replace it. I have a large stockpile of other "items" that might be highly desirable should things go to SHTF situation.

I’ve always said that a diverse set of options is best!
If cash was obsolete tomorrow it wouldn’t drastically change my life.
If crypto implodes next week, it wouldn’t drastically change my life.
If my 401K disappeared tonight, it would not ruin me.
If my accounts were frozen for some reason I’d still pay the bills.
If my safe got stolen next week, I would not eat a bullet.
You get the picture.

 

[monkeyswrench]

I’ve always said that a diverse set of options is best!
If cash was obsolete tomorrow it wouldn’t drastically change my life.
If crypto implodes next week, it wouldn’t drastically change my life.
If my 401K disappeared tonight, it would not ruin me.
If my accounts were frozen for some reason I’d still pay the bills.
If my safe got stolen next week, I would not eat a bullet.
You get the picture.

It's basically a useful form of diversity. Not the crap they preach, but the diversity people should have. Especially in an ever changing, unstable society.

I have some, but very little in comparison. Much of my "diversity" has been used now to avoid debt on some medical expenses. Time will tell if that was a smart move, but it seemed the smartest move at the time.

 

[HST4ME]

Remember the change shortage signs during the plandemic?, there was no shortage, the people behind the register were too fucking stupid to be able to count.

 

[monkeyswrench]

Remember the change shortage signs during the plandemic?, there was no shortage, the people behind the register were too fucking stupid to be able to count.

"Were"....?

 

[FROGMAN524]

I never used to keep cash on me and then I realized that everything I did was trackable so now I keep anywhere from $500 to $1,000 cash at all times. I hope it never goes away.

I like getting credit card points but it’s also nice to know I can still buy if the “system is down”

 

[Englewood]

We are one major hack away from not being able to access our money. Keep your cash!

That’s my big concern also.

 

[whiteworks]

My wife had a meeting in NYC last week, I’m dropping her off at the airport and ask her if she had any cash on her and she says, “yes, I have $10.00”.

I pulled out $500.00 and handed it to her. When she got back I asked her for the cash back, guess what I’ll never see

 

[kevin1988]

I own a business that operates a fast food (Corporate owns the building and equipment, I lease it from them.) Before, I was cash cash cash because there is no fee on cash. After really diving into expenses because of $20/hr min wage, I would rather pay the fee for credit cards and be cashless.

It takes about 1.5 hours to count, reconcile and take cash to the bank 6 days a week. .5 hours on Sunday as the bank is closed. Bank charges me about $100 a month for cash handling. Another $100 for getting change (coin)

Credit cards are 60% of my transactions. 15% is Uber, DoorDash Ect. Cash transactions are 25% of total sales. and this is in Escondido. In Lake Elsinore, Cash transactions are about 18%.

Now the labor aspect. No cash it would take 10 minutes to reconcile reports and I could do it from home if I wanted. With cash it takes about 20 minutes uninterrupted. I can't do it from home as I need to physically count the cash that's there.

So I pay my assistant manager to count the cash, do the reports, drive to the bank, pray he doesn't get into a car accident (That's worker's comp) or get robbed (could also be workers comp) And he only does that 3 times a week, I do it the other 4.

Credit card processing is roughly 2.9%. That equates to $50-$70 a day for me. Going cashless means CC processing goes to $65-88 a day but I save about $50 a day in labor and less workers comp risk, zero robbery risk and saved $200 a month in bank fees.

Other positives, no more employee money theft, No robberies. I save gas and time not going to the bank 4 days a week.


As far as customer experience with kiosks, that's the way it's going industry wide. By you ordering by app, I don't have to pay someone $20/hr to be there whether there's customer's or not.


Now before I get dragged, I didn't raise prices with the new wage hikes. I'm hoping people realize I'm cheap compared to everyone else and make money in transaction count and not check average.

 

[WYRD]

They used to bet hotdogs on races at Terminal Island, I heard of 10k hotdog bets. That's a lot hotdogs

Not for kamala

 

[was thatguy]

I own a business that operates a fast food (Corporate owns the building and equipment, I lease it from them.) Before, I was cash cash cash because there is no fee on cash. After really diving into expenses because of $20/hr min wage, I would rather pay the fee for credit cards and be cashless.

It takes about 1.5 hours to count, reconcile and take cash to the bank 6 days a week. .5 hours on Sunday as the bank is closed. Bank charges me about $100 a month for cash handling. Another $100 for getting change (coin)

Credit cards are 60% of my transactions. 15% is Uber, DoorDash Ect. Cash transactions are 25% of total sales. and this is in Escondido. In Lake Elsinore, Cash transactions are about 18%.

Now the labor aspect. No cash it would take 10 minutes to reconcile reports and I could do it from home if I wanted. With cash it takes about 20 minutes uninterrupted. I can't do it from home as I need to physically count the cash that's there.

So I pay my assistant manager to count the cash, do the reports, drive to the bank, pray he doesn't get into a car accident (That's worker's comp) or get robbed (could also be workers comp) And he only does that 3 times a week, I do it the other 4.

Credit card processing is roughly 2.9%. That equates to $50-$70 a day for me. Going cashless means CC processing goes to $65-88 a day but I save about $50 a day in labor and less workers comp risk, zero robbery risk and saved $200 a month in bank fees.

Other positives, no more employee money theft, No robberies. I save gas and time not going to the bank 4 days a week.


As far as customer experience with kiosks, that's the way it's going industry wide. By you ordering by app, I don't have to pay someone $20/hr to be there whether there's customer's or not.


Now before I get dragged, I didn't raise prices with the new wage hikes. I'm hoping people realize I'm cheap compared to everyone else and make money in transaction count and not check average.

“You’re the devil!!!”
Said the cash worshippers.

Thank you for the first hand experience reality check.

 

[boatnam2]

I just use dollar bills to clean up oil since we no longer need that commodity anymore either.

 

[jet496]

I read something years ago, If they can gain control and can track every single transaction at will, they have better control over us. Hmmm. Just a thought.

This is it 100%, control. You won't even have to file income taxes anymore because it'll be calculated as you go. The people who will suffer the most are tradesmen doing side work, hair stylists, landscapers, etc. who do a cash business & currently don't pay taxes. They will lose their minds when they have to pay Uncle Sam 30 - 40%.

I didn't think it would happen but now I see it. Something will happen, similar to the Covid control, that will make it to where green money can't be used. They'll do it in one fell swoop. Boom. Worldwide. They'll make everybody go to a bank & turn their money in.

 

[530RL]

I own a business that operates a fast food (Corporate owns the building and equipment, I lease it from them.) Before, I was cash cash cash because there is no fee on cash. After really diving into expenses because of $20/hr min wage, I would rather pay the fee for credit cards and be cashless.

It takes about 1.5 hours to count, reconcile and take cash to the bank 6 days a week. .5 hours on Sunday as the bank is closed. Bank charges me about $100 a month for cash handling. Another $100 for getting change (coin)

Credit cards are 60% of my transactions. 15% is Uber, DoorDash Ect. Cash transactions are 25% of total sales. and this is in Escondido. In Lake Elsinore, Cash transactions are about 18%.

Now the labor aspect. No cash it would take 10 minutes to reconcile reports and I could do it from home if I wanted. With cash it takes about 20 minutes uninterrupted. I can't do it from home as I need to physically count the cash that's there.

So I pay my assistant manager to count the cash, do the reports, drive to the bank, pray he doesn't get into a car accident (That's worker's comp) or get robbed (could also be workers comp) And he only does that 3 times a week, I do it the other 4.

Credit card processing is roughly 2.9%. That equates to $50-$70 a day for me. Going cashless means CC processing goes to $65-88 a day but I save about $50 a day in labor and less workers comp risk, zero robbery risk and saved $200 a month in bank fees.

Other positives, no more employee money theft, No robberies. I save gas and time not going to the bank 4 days a week.


As far as customer experience with kiosks, that's the way it's going industry wide. By you ordering by app, I don't have to pay someone $20/hr to be there whether there's customer's or not.


Now before I get dragged, I didn't raise prices with the new wage hikes. I'm hoping people realize I'm cheap compared to everyone else and make money in transaction count and not check average.

There is a chipotle near me where their in line register took a dump for a couple days. So an employee stands outside and tells people the line is closed but you can order on the App and eat inside.

A week later I go in there and notice the line is much shorter than usual. I asked the manager if the register being out shifted people to other stores. She said business is the same, a lot of regular customers now order on the App and do not stand in line.

A majority of customers want efficiency as much as does the organization. They just need a reason to learn the technology to understand how much more efficient it is.

 

[was thatguy]

This is it 100%, control. You won't even have to file income taxes anymore because it'll be calculated as you go. The people who will suffer the most are tradesmen doing side work, hair stylists, landscapers, etc. who do a cash business & currently don't pay taxes. They will lose their minds when they have to pay Uncle Sam 30 - 40%.

I didn't think it would happen but now I see it. Something will happen, similar to the Covid control, that will make it to where green money can't be used. They'll do it in one fell swoop. Boom. Worldwide. They'll make everybody go to a bank & turn their money in.

So tax evaders will suffer the most…no argument there!

But I agree, there will probably be a time frame to exchange paper for 100% face value credit.
Then most likely another time frame for possibly a 50% or whatever exchange….then zero, poof, paper has no value.

The original question was “is cash out?”
The answer is not yet, BUT yes, that’s where we are headed.
We can yell and scream and argue and swear that a pile of paper will ALWAYS have value and be useful barter material, but it will not.
This isn’t my idea, I’m not a big fan of it either, but I can see that it is rapidly approaching and no amount of American individuality or arrogance will stop it.

It’s hard for me to find the vocabulary to explain it, but I’ll try one more time for those who can’t seem to comprehend that paper will be valueless.
Let’s take a casino for example. Each casino has chips that represent value measured by US Dollars.
Some tables have unique chips for play, but they too hold a value in dollars. When you go to the cashier with a tray of house chips they cash you out with paper dollars. The chips have value. You can tip with them, buy stuff in house with them, you can trade them with another person for whatever.
But What if you go up to the counter and they say “oh, sorry, we changed chips last week and yours expired…they have no value”.
You now have a tray of worthless plastic. No monetary value, No black market currency, no bartering value, nothing.
That’s what it would (will) be like at the bank when paper is declared valueless in commerce. No one will take it for any reason because they can’t do anything with it.
It’s worthless, and thinking you can still make side deals with it is conditioned thinking at best.
Yes, all that talk about tracking is real and true…so what?
They’ve been doing that for over a decade full on.
(Read Snowdens book for a little taste of that)
People can minimize that overreach truth, and maximize this overreach truth for hyperbole I suppose? But for as much as I’m called paranoid and crazy on here, it seems odd that I'm not the one scared to buy ammunition with credit cards, or file for NFA tax stamps for SBR’s and suppressors, or be on record with DPS for CCW, etc etc.

“They’ll track you bar tabs!”
Half of RDP posts about their drunken adventures.

“They’ll know what you buy!” Pffttt
Half of RDP buys their shit from Amazon using Alexa, and if they don’t, their wives and kids do.
Give me a break.

The only question is when.
But it’s rather obvious it will be sooner than later.

Edit: I suppose the paper could be used as a sub currency for black market, but it would have no real attachment to the US dollar as far as value.
It would become the in house poker chip for strictly that casino, metaphorically speaking?

 

[nameisbond]

I don't want to go cashless after our government seized bank accounts. Even though our Supreme Court has ruled the government acted unconstitutional. It is a good idea now to have cash on hand. A few restaurants around me have gone cashless. I don't like our plastic bills. But I do have a cash pile now because I donate to Rebel News and our government hates them. So I could be a target!

 

[mash on it]

The (legal?) cannabus industry is a 43 ba ba billion dollar industry yearly.
Cash only.
I doubt cash is going away anytime soon.

I don't partake. Doesn't bother me those that do, responsibly.

Dan'l

 

[JDKRXW]

Those that think switching to cash after using a CC at, let's say, Home Despot for years and years is going to anonomize them somehow ..... don't seem to realize that the P.O.S. terminal took their picture back then - and it's still taking their picture today.
They can identify just about anyone they want to cash or credit customers or thieves.

 

[ChrisV]

Strippers still take cash.

 

[aka619er]

I listened to a podcast last week where an IRS agent leaked that the 80K new additions weren't hired to go after the rich. They are to go after the middle class who can't afford to fight the fines. A cashless society is much easier to keep track of.

 

[monkeyswrench]

I listened to a podcast last week where an IRS agent leaked that the 80K new additions weren't hired to go after the rich. They are to go after the middle class who can't afford to fight the fines. A cashless society is much easier to keep track of.

Thank God they demoted me from middle class. Silver linings sir, sometimes you have to look for them

 

[hallett21]

I pay 90% of my transactions through a card. But good god if I have an issue buying a burger with cash we got a problem lol.

I’m not buying 15k worth of wire and conduit with $20s lol.

@530RL it’s funny you bring up chipotle and ordering through the app. We do it all the time on road trips. But I’ve noticed the servings are pretty light on the app order lol.

And what if you lose your wallet and need to grab your emergency $100 out of the truck? Ya ya ya I know Apple Pay etc. If you work construction you’ve at least once driven an hour away from your home with no wallet or phone. Going 100% digital will only benefit the Gov in the end.

 

[C_J_J_C]

We went to dinner the other night and the server took the entire order on an ipad looking device. When dinner we asked for the check and she showed us the Ipad and asked for a card. I asked again for the check and I would be paying cash. She said only the manager could accept cash and it took over 15 minutes to get a bill and change.

 

[was thatguy]

The (legal?) cannabus industry is a 43 ba ba billion dollar industry yearly.
Cash only.
I doubt cash is going away anytime soon.

I don't partake. Doesn't bother me those that do, responsibly.

Dan'l

That $43 ba ba billion a year industry (and the drug trade in general) is a major catalyst for the "government" seeking to eliminate "cash only" commerce.
Don't underestimate their abilities to do that.
The drug trade, child trafficking, and really any multi-billion dollar industry happens as one of the biggest cartels in the world (the US Government) allows it to happen.
Stepping over $8.6 billion (at 20% of $43 billion) doesn’t sound like Uncle Sam…especially if the right bribes aren’t paid?

 

[monkeyswrench]

That $43 ba ba billion a year industry (and the drug trade in general) is a major catalyst for the "government" seeking to eliminate "cash only" commerce.
Don't underestimate their abilities to do that.
The drug trade, child trafficking, and really any multi-billion dollar industry happens as one of the biggest cartels in the world (the US Government) allows it to happen.
Stepping over $8.6 billion (at 20% of $43 billion) doesn’t sound like Uncle Sam…especially if the right bribes aren’t paid?

That's what I don't understand about the feds not allowing the banking of drug funds for the legal trade. It seems like there would be a massive income they could tap...unless they are in other ways already.

 

[Cooter01]

I doubt cash is going anywhere, look at gambling.

 

[JDKRXW]

" one of the biggest cartels in the world (the US Government) allows it to happen.

"ONE OF"

 

[hallett21]

I doubt cash is going anywhere, look at gambling.

Very good point lol.

 

[was thatguy]

I doubt cash is going anywhere, look at gambling.

Lol
Give it time.
I remember when slots kicked out real coins.
That’s long gone.

 

[Cooter01]

Lol
Give it time.
I remember when slots kicked out real coins.
That’s long gone.

Maybe? Yet, doubt the strip in Vegas will allow it.

 

[hallett21]

Lol
Give it time.
I remember when slots kicked out real coins.
That’s long gone.

Try and make a $500 bet without Benjamin’s.

Granted if you wanna buy in for 10k Vegas will take bank transfers. But as you know, gambling is typically based upon emotion and instantaneous withdrawals.


I can already see the lawsuits against casinos for having immediate access to your checking and saving accounts.


I’m not a cash or die person. But up until the US GOV stops backing paper money I feel that all businesses are obligated to accept it.

Before COVID this wasn’t even up for discussion lol.

 

[hallett21]

It’s kind of crazy that we all agree that we exchange US currency (dollars) inside these 50 states. But we are now turning towards Visa, Amex, Mastercard etc to perform those exchanges. And at a cost lol. I do it all day in large increments for “points/convince/etc”. But it doesn’t change the overall issue.

Once again I completely agree & understand the overhead that cash causes.

 

[bilz]

Wait until the Friday night poker game.
"I'll see your Zelle and raise you a venmo"
Can't wait for the RD coin.

 

[rrrr]

I own a business that operates a fast food (Corporate owns the building and equipment, I lease it from them.) Before, I was cash cash cash because there is no fee on cash. After really diving into expenses because of $20/hr min wage, I would rather pay the fee for credit cards and be cashless.

It takes about 1.5 hours to count, reconcile and take cash to the bank 6 days a week. .5 hours on Sunday as the bank is closed. Bank charges me about $100 a month for cash handling. Another $100 for getting change (coin)

Credit cards are 60% of my transactions. 15% is Uber, DoorDash Ect. Cash transactions are 25% of total sales. and this is in Escondido. In Lake Elsinore, Cash transactions are about 18%.

Now the labor aspect. No cash it would take 10 minutes to reconcile reports and I could do it from home if I wanted. With cash it takes about 20 minutes uninterrupted. I can't do it from home as I need to physically count the cash that's there.

So I pay my assistant manager to count the cash, do the reports, drive to the bank, pray he doesn't get into a car accident (That's worker's comp) or get robbed (could also be workers comp) And he only does that 3 times a week, I do it the other 4.

Credit card processing is roughly 2.9%. That equates to $50-$70 a day for me. Going cashless means CC processing goes to $65-88 a day but I save about $50 a day in labor and less workers comp risk, zero robbery risk and saved $200 a month in bank fees.

Other positives, no more employee money theft, No robberies. I save gas and time not going to the bank 4 days a week.


As far as customer experience with kiosks, that's the way it's going industry wide. By you ordering by app, I don't have to pay someone $20/hr to be there whether there's customer's or not.


Now before I get dragged, I didn't raise prices with the new wage hikes. I'm hoping people realize I'm cheap compared to everyone else and make money in transaction count and not check average.

Thanks for providing a perspective that most of us would not have consídered. I found it quite surprising.