How will a cashless society affect older Australians?

Australia could become a cashless society by 2020. How will it affect you?

How will a cashless society affect older Australians?

Later this year, the Reserve Bank of Australia will roll out new technology that could lead to Australia becoming a cashless society by 2020.

The RBA’s New Payment Platform (NPP) would make electronic payments faster and easier and would bring Australia into line with the rest of a world increasingly heading towards cashless systems. Sweden is already on the verge of becoming the world’s first completely cashless society.

Combined Pensioners and Superannuants Association (CPSA) spokesperson, Paul Versteege, told the ABC that older Australians are anxious of such change.

Mr Versteege says that older Australians are distrustful of automated systems – and, considering that hacker activity and online fraud is on the rise, he may have a point. He also noted that many older Australians still use old phones. The RBA’s new technology would rely heavily on smartphone capabilities in order to conduct transactions.

YourLifeChoices’ own research suggests that Mr Versteege may be slightly exaggerating when it comes to how older Australians ‘trust’ online services. The YourLifeChoices Retirement Insights 2017 survey revealed that 65 per cent of respondents access the internet two or more than three times a day, with over 65 per cent of them spending one to three hours per day online. And although there is a skew towards purchasing certain products (such as health products, technology, furniture and whitegoods) from retail outlets, they regularly use online resources to access retirement information, purchase products and services online (70 per cent), research travel options leading to the online purchase of airfares, accommodation and travel insurance, and conduct financial transactions.

Recent research even shows that 50 per cent of older Australians prefer to bank online.

Perhaps the more worrying facet of a cashless society would be the elimination of physical money itself. To make ends meet, many pensioners tend to do odd cash jobs for things such as house, child and pet minding, gardening and handyman work.

A switch to a cashless society would then see the extra money earned from these jobs having to go through ‘the system’ – meaning many would have their Age Pensions reduced, thus making it more difficult to get by week to week.

It may also have an affect on their ability to budget. Many people would rather withdraw a specific cash amount each week on which to live, rather than rely on card and online transactions. As we all know, it’s easier to spend what we can’t see.

So, while Mr Versteege may have a few telling points about older Australians’ attitudes towards a cashless society, I’m not so sure that the ‘technology’ aspect is at the forefront of their concerns.

However, should Australia become a cashless society by 2020, all Australians, not just older people, will have to adjust accordingly.

Do you fear a cashless society? How would it affect you? Do you think this would be a positive development

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    COMMENTS

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    Tom Tank
    31st Mar 2017
    10:14am
    While I use a credit, or debit, card for nearly all my purchases I find to hard to see a totally cashless society in the future. There are many activities where cash is the only viable means of payment but these are mainly at a social level. Imagine a sausage sizzle at Bunnings where payment was made electronically for example.
    I do have reservations about the use of smartphones for making payments as these can be hacked and this raises the odds of illegal activities.
    I am all for new technology provided it is not going to add cost or complexity to life.
    Triss
    31st Mar 2017
    11:07am
    I tend to agree with you, Tom, what about the charities with their tins. I usually put my loose change in but no way would I be using my phone to donate the odd dollar.
    Getting rid of cash allows government and big business to track and control every transaction we make.
    Governments and banks will find a way to block certain purchases and how many companies do you think will suddenly see a way of making extra profit by charging 1-2-3% on credit card transactions when there is no other way to pay. And if you think the government will stop that then I'll introduce you to the fairies at the bottom of my garden.
    I think a cashless society will become fact as there are advantages but there are many disadvantages as well and some of them outweight the advantages.
    Eddy
    31st Mar 2017
    11:22am
    A comparison could be the introduction of 'no paper tickets' on public transport, you use a plastic card (ie Opal or MiKi etc). The most frustrating parts of that process is the lack of visibility of value on the cards and the inability to use public transport if you leave (or lose) you card at home.
    Triss
    31st Mar 2017
    12:18pm
    It would be interesting, Eddy, to know how much the government makes from the leftover balances that tourists leave on their Opal cards.
    Eddy
    31st Mar 2017
    2:35pm
    Triss, I have had similar thoughts must be a significant sum. Also consider the 'interest free' loans from people like myself who use PT infrequently.
    One concern I have with a 'cashless society" is the potential for unscrupulous traders to add a dollar or two onto your device/card without you noticing. If caught out they could claim it was a 'finger' error.
    Old Geezer
    31st Mar 2017
    5:29pm
    Only load as much as you need onto your PT cards. Seniors can load as little as $2.50 on Opal cards. That's all I do.
    niemakawa
    31st Mar 2017
    8:17pm
    "All roads lead to Rome" So in effect the Government will know exactly what you purchase, where you purchase, balances of accounts. There will be nowhere to hide. Surely this is not the intention of Governments????????????????
    KSS
    31st Mar 2017
    8:22pm
    I can just see people sitting down every month and poring over their 50 page statements of $1.50 newspapers, $2 cartons of milk, $1 gold coin donations, $3 coffees etc just to make sure there are no double charges or erroneous entries. Right?
    Triss
    31st Mar 2017
    10:30pm
    Thanks, Old Geezer, I didn't know that.
    Old Geezer
    31st Mar 2017
    11:40pm
    Triss last time I tried it was much more if you loaded your Opal card online but you can buy vouchers in smaller amounts from vendors who load your card. I was in Sydney for the day and only needed $2.50 to travel all day. I did something very similar in Melbourne. Perth and Adelaide gave me free transport so no need for any cards. I haven't tried Brisbane's system yet as I can drive to Brisbane from where I live.
    fedup
    31st Mar 2017
    10:32am
    I know a lot of older people who have never had a debit or credit card & don't have a smart phone, myself being one of them as I get by with my old flip phone and it is good enough for what I want. There is another concern as many remote areas do not have card facilities also not everyone has a computer & have never had the inclination to own one. It really is only another way to control the masses & their spending taking away freedom of choice if you ask me.
    LiveItUp
    1st Apr 2017
    10:07am
    Only remote area I have been to that has not accepted my cards has been Santo a Pacific island. Everywhere else I have been no problems and cash not necessary. Had a fellow fix my fridge and he accepted my card as payment with a device in my house. Cash is no longer necessary.
    Dreamer
    31st Mar 2017
    10:33am
    Viva the exchange economy. If I babysit your children will you fix my leaking taps? How about a lift into town in exchange for a freshly picked pumpkin or a jar of jam. Very sad for those who really need the cash to keep the lights on at home.
    Sen.Cit.90
    31st Mar 2017
    12:29pm
    Very good points Dreamer;
    Perish the thought of more 'Big Brother' delving into our lives controlling us like robots.
    niemakawa
    31st Mar 2017
    8:33pm
    Bartering will be a NO NO. Just do as you are told Dreamer!!!!!!!!!!!
    Old Geezer
    31st Mar 2017
    11:42pm
    Bartering is very common among the wealthy as it is considered an embarrassment to pay one another for small favours.
    niemakawa
    31st Mar 2017
    11:48pm
    @Old Geezer are you sure. Another shot ( in the dark) at the wealthy perhaps. Bartering is open to anyone as are trusts as is buying a house, but it seems that many can't grasp that concept and say what the hell, somebody else will pay for me.
    Old Geezer
    1st Apr 2017
    12:08am
    @niemakawa yes I am sure as I do it all the time myself. People just ask and I do lots of things for them and if I want something done then all I do is ask.
    niemakawa
    1st Apr 2017
    12:14am
    @Old Geezer, that's the way to do it. Highly recommended.
    Fliss
    31st Mar 2017
    10:52am
    Hacker activity and online fraud will continue to increase.
    niemakawa
    31st Mar 2017
    8:34pm
    Yes and the main hackers will be the Government snooping into all your spending habits.
    Old Geezer
    31st Mar 2017
    11:58pm
    At least they leave a trace where as robbers don't.
    The pom
    31st Mar 2017
    10:54am
    As a person well into my 80s I use my credit card for almost everything I buy. If I am not too sure of the person I am buying from I use a debit card with a very low load of money on it. I keep full records of all my finances on spread sheets which I update at least once daily so that I know my financial position at all times. I am lucky to have been employed in the Data Processing industry for over 30 years so am not bothered by computers. However I also find it hard to see a completely cash free society.
    AutumnOz
    31st Mar 2017
    10:56am
    We live in a mobile phone black spot and smartphones do not work here. There was nothing in either the original news report or the story above that mentioned making more phone towers available to cover the whole continent thus making a cashless society possible for those in many rural and regional areas.
    Apart from the dodgy security of the smart phones it sounds like just another way to track Australia's citizens and their spending habits.
    Oldie84
    31st Mar 2017
    10:58am
    I hope they wait a few more years. We are both in our Eighties and whilst I am quite adept with this new technology. My wife even hates my mobile phone. She uses her credit card but that is as far as it goes. Without me she would be totally dependant on others. Just slow down a bit until the Millenials are were we are now.
    les
    31st Mar 2017
    11:09am
    My real concern with cashless society is how much are we going to be charged by the credit card provider for each transaction. These charges can accumulate to a large part of your fixed income. No bank is going to allow you to continually use your credit without charging you a fee for each transaction.
    HDRider
    31st Mar 2017
    11:17am
    As everyone is writing there concerns the German parliament is being hacked lol. People also forget what happens if the persons smart phone or computer breaks, they have to find money to fix it also...it's ll to hard really.....can't wait to see it happen...........NOT
    johnp
    31st Mar 2017
    11:18am
    Re
    "Sweden is already on the verge of becoming the world’s first completely cashless society"
    Oh well will have to cross Sweden off our travel plans as use cash overseas which is cheapest, quickest, easiest, etc almost everywhere else, No Hacker activity and online fraud, etc Was looking forward to going there actually.
    Priscilla
    31st Mar 2017
    11:41am
    There is no security in a cashless society. Only today in the West Australian it is being considered to allow only 3 daily pay pass transactions before having to use a pin owing to fraud. Every day you hear of people being scammed/frauded owing to this cashless system. I will never trust it. Always use the bank and prefer cash any day. When you spend a $100 it makes you aware how quickly you are spending your money but by using cards you do not 'feel' the money being spent.
    franky
    31st Mar 2017
    11:53am
    One thing comes in my mind.... The bank will benefit greatly.. fees here, fines here, etc..
    I can't wait for 2020 to come if I'm still alive.. Oh let us not forget those hackers,, they
    probably will benefit as well...
    Hasbeen
    31st Mar 2017
    12:05pm
    I wonder how well they would work around here right now, flooded in, with no power. I wonder if our local convenience store would simply give us what ever they had, when we couldn't pay.

    This is simply a way for government to get even more control over us.

    It will finally fix the black economy, & there for collect a lot more tax, both GST & income tax. No more pay cash & get the GAT off.
    Hasbeen
    31st Mar 2017
    12:06pm
    DAMN. Get the GST off.
    Kathleen
    31st Mar 2017
    12:05pm
    We shop online for everything. Our bills are paid automatically. Emails save paper and I am cross when unnecessary paperwork arrives. Cashless and paperless is the way of the future for sure. It is easy to keep track of everything online and saves money. It will happen and needs to be accepted. Banks notify you if anything untoward happens regarding your cards or online dealings. The small cashless items like donations will be done in a different way which does happen already when you are asked for a $5 donation towards something online via emails. For housebound people the internet is a godsend.
    shaper
    31st Mar 2017
    12:06pm
    I live in a retirement village and everyone her I spoke to said the same thing, they do not wish or like the idea of a cashless society. They and I agree it is easier to see where your money has to go when you have cash on hand, you can put some away for bills and so forth and some for groceries etc especially when on a pension. and I do not trust banks or cards having had my credit card hacked once and all the inconvenience that caused. No your wrong we the aged do not agree with it at all. Plus the bank will be able to see how and when and what we spend our money on. Oh Boy Big Brother has arrived.
    Von
    31st Mar 2017
    12:08pm
    There are a lot of older Australians who do not have Smart Phones nor in fact computers!!
    Slimmer Cat
    31st Mar 2017
    2:32pm
    There are one hell of a lot of older Australians who still have a cardboard bank book.
    Go into any bank on pension day and you'll stand in line whilst the "Books" get updated.
    Old Geezer
    31st Mar 2017
    11:47pm
    Those bank books should have fees to use them as they are only a paper account of an electronic bank account. All the bank is doing is doing the paperwork for these people. Mailed statements now come at a cost and so should these bank books.
    niemakawa
    31st Mar 2017
    11:50pm
    Old Geezer go " Book 'em"
    niemakawa
    31st Mar 2017
    11:50pm
    Old Geezer go " Book 'em"
    TREBOR
    31st Mar 2017
    12:13pm
    I don't - I do my bills online and often pay by card - but I can see the worry for some.
    Charlie
    31st Mar 2017
    12:37pm
    A cashless society. How the nazi's would have loved this.

    I have just gone back to withdrawing my whole pension in cash for the simple reason that my transaction statement doesn't have my transactions in the same order as I made them.

    So I am recorded as drawing against an empty account when I already checked there was sufficient funds first. Fortunately my bank does not charge a fee for drawing against an empty account, but that's not the point. The records are not accurate enough for me to spot tampering with my account.
    Old Geezer
    1st Apr 2017
    12:03am
    It is not until the accounts are batch processed at night that the fees are charged so your account can be overdrawn millions all day as long as you put those millions back in before it is batch processed no fees are charged. They only way to stop your account being overdrawn is to ask the bank not to let it be overdrawn under any circumstances.
    Dave R
    31st Mar 2017
    12:41pm
    I doubt we will ever have a totally cashless society, due to things like children purchasing lunch at the school tuckshop. However I can see the larger notes being withdrawn from circulation to make it difficult to use cash for anything other than small transactions.
    Don't be surprised if notes/coins with a face value of over $10 are gradually withdrawn over the next decade.
    johnp
    31st Mar 2017
    1:04pm
    Sometimes I am glad the age I am (70). The issues shown here by most people are very valid, esp hacking etc. Cashless is mainly for banks, corporate, govt to get hold of your finance pattern so on. Get you to spend more (often on junk causing hoarding, take control thus depleting your resources and becoming beholding to them
    Puglet
    31st Mar 2017
    1:07pm
    It probably doesn't matter whether we want a cashless society or not. The banks are quietly closing as many branches as they can. The same goes for ATMs, they are being removed. Everyone needs to be competent to use IT and with on-line banking if they want to cope with their finances. Many retirement centres run free IT workshops designed for seniors. I love watching great grandmas skyping their grand children and manipulating their iPads like the experts they are.
    Nerk
    31st Mar 2017
    1:30pm
    Its to stop naughty people having cash under their bed and being on a pension.
    Puglet
    31st Mar 2017
    1:34pm
    I hadn't thought of that! I just looked under my bed to see if there was any spare cash there but all I could see were dust bunnies and the dog's ball!
    Old Geezer
    31st Mar 2017
    11:48pm
    And these naughty people wonder why they become targets for thieves.
    Radish
    5th Apr 2017
    5:02pm
    Gee whiz is that what they do...put money under the mattress...surely that is fraud...tut tut!!

    As to cashless society...I cannot see it happening myself. I have not use paywave even though I have it on my credit card.

    I like to know how much I have spent and having cash I always know how I am running. I use my cash for my grocery shopping.

    All other transactions go on my credit card.
    floss
    31st Mar 2017
    1:30pm
    Mr Turnbull has made a lot of pensioners cash less.
    crazypete
    31st Mar 2017
    1:42pm
    with all these cashless cards around the place the Government can keep an eye on eye on how much we pay and to whom so we will have big brother looking over our shoulders.
    Old Geezer
    31st Mar 2017
    5:28pm
    Supermarkets and other stores are already doing that even if you pay by cash.
    KB
    31st Mar 2017
    1:57pm
    I would prefer not to use this new technology at DUE TO HIGH RISK OF FRAUD. Victorian police have already requested to banks that they should put a limit on the pay and go cards Not many older folk have computers and I do not own a smart phone amd never intend to.It is convenient to have cash on hand for emergencies or if you do not have enough credit on your travel card.Let this new technology be ab option if this is the way of the future.
    KB
    31st Mar 2017
    1:57pm
    I would prefer not to use this new technology at DUE TO HIGH RISK OF FRAUD. Victorian police have already requested to banks that they should put a limit on the pay and go cards Not many older folk have computers and I do not own a smart phone amd never intend to.It is convenient to have cash on hand for emergencies or if you do not have enough credit on your travel card.Let this new technology be ab option if this is the way of the future.
    Old Geezer
    31st Mar 2017
    5:27pm
    Just disable your pay and go or paywave feature on you cards. I torch and knife will do the trick.
    chris
    31st Mar 2017
    3:22pm
    while I don't fear a cashless society, I can see problems. e.g. in the event of disruption of power supply,neither the NBN nor smartphones will operate in that event. Neither do ATM's.And although AUSTRALIA is at peace now, who is to say we will always be that way. An enemy could have control in one swipe by incapacitating our financial abilities and internet.
    Puglet
    31st Mar 2017
    3:33pm
    I too don't fear a cashless economies in fact I rarely use cash for any purchases. But you are right about power and ATMs. One of the first things we are told when we go onto cyclone warning is to withdraw enough cash for 72 hours, charge phones and fill the car up cause the pumps don't work either and if they do many of us can't pay for petrol cause there is no cash. We forget too that checkouts and often tills are controlled by computers and electricity.
    Rocket
    31st Mar 2017
    3:26pm
    Just seen a story about the aftermath of the cyclone at Airlie Beach and as the internet is down it is only cash that the local supermarket will accept. What does that say about getting by in a cashless society?
    Puglet
    31st Mar 2017
    3:36pm
    The residents were told for days to withdraw cash and if they didn't they really were silly billies.
    Fliss
    6th Apr 2017
    7:57am
    Great point Rocket!! ????
    Circum
    31st Mar 2017
    3:45pm
    Big Brother would love a cashless society.Individual privacy would be lost and freedoms of choice reduced.
    The risks of hacking and fraud are unacceptably high in the view of many and the security of having a handful of money reduced.
    The value of money has more meaning when you are holding it ,compared to just a number on a statement and budgets are very much affected depending whether you have cash or not.A punter with money in his/her betting account does not think as rationally as a punter on track with cash (trust me).

    Its true that people may spend hours on the net surfing,playing games,researching etc but that does not mean they are tech savvy.Online banking may be a worry for some and personally I don't wish to use it.Similarly I don't have a need for a smartphone and wouldn't like to be forced to buy one so I can buy a newspaper (OMG I still read newspapers).

    Costs to customers will increase once the payment options are reduced.You can guarantee that.
    Why the rush to become cashless?What are the benefits and to whom?The ordinary person in the street would have freedom of choice reduced ie.cash or card?

    It will not be fun and games when the system crashes ,as websites do regurlarly and you cant buy anything because you have no cash money.And they wont accept a cheque.

    As mentioned,a cashless society is not a high priority,so if we were thinking along those lines wouldn't it make sense to watch progress around the world so that we don't just build another MYKI.
    Pushkin2
    31st Mar 2017
    3:51pm
    It's only a small thing, but what would replace the $1 coin introduced by supermarkets for shopping trollies?
    Circum
    31st Mar 2017
    3:59pm
    new trollies would be built so you can insert your credit card into the slot.Naturally the hundreds of thousands of dollars this would cost would be added to your shopping bill.
    Brissiegirl
    31st Mar 2017
    4:32pm
    Is the logic behind the movement towards a predicted cashless society, "because we can". Well that's a ridiculous reason. It's not feasible to make small transactions by card, e.g. $10 note for the kid next door to mow the lawn or $50 in a card for a grand daughter's birthday. The smart arses of this world think it's oh so great, so cool, swiping a card here there and everywhere. Just wait until gran says, "when I die don't forget to dig out the $50K in notes saved up in the tin under the shed up the backyard". The card nerds are shooting themselves in the foot. Small amounts of cash/notes can never be completely phased out of circulation.
    Snowflake
    31st Mar 2017
    4:40pm
    The wankers in government are at it again. Policy with little or no thought.
    I use internet banking and can get around on a computer okay but there is no way I am wasting my money on a smart phone. At about an average price of about $800 and the fact that they only have a shortish shelf life the cost would be prohibitive for some.
    Money jars would be a thing of the past, a great way of saving for some of us.
    When I was a kid my mum used to put money in envelopes every week from her wage. Each one marked with a different bill. Electricity, gas, phone, rates etc. you get the idea.
    There was a period in my life when I used that method and not once was I short of cash to pay a bill, whether it was the rates or rego. Now I am on the pension I will adopt that method again and at the end of a week I will know how much I have left to spend on groceries, petrol or whatever. Try doing that with a card. I can also see all the shop owners having fun with thousands of card receipts to go through every night. Good luck you wankers in government with your numnut ideas. I'd sooner have Forrest Gump running the place.
    Oldman Roo
    31st Mar 2017
    4:42pm
    I feel let those wishing to go cashless do so and those who do not want to , choose what they are comfortable with . I may be old fashioned but can say , I have managed my financial affairs in a responsible and reliable manner all my life , which is a lot better than the problems created by the new plastic card and online banking generation .
    Old Geezer
    31st Mar 2017
    5:24pm
    What happens when stores won't accept your cash? Cash is expensive for businesses these days compared to electronic transactions.
    KSS
    31st Mar 2017
    8:31pm
    Or when stores ONLY accept cash Old Geezer? One of my favourite coffee shops only sells coffee, a few sweet treats and gelato. They only accept cash - there is even a convenient ATM about 20 mtrs away.
    niemakawa
    31st Mar 2017
    8:37pm
    Choice will not be an option. It will be a Government dictate. Another nail in the coffin of democracy. This is a result of far too much acceptance and trust by the people of Governments. They have us by the short and curlies, to coin a phrase. Bye bye freedom, it was nice knowing you.
    Oldman Roo
    31st Mar 2017
    10:25pm
    The indisputable fact is that Cash is King and not only preferred by most businesses but also a great help in negotiating a better price . They know the folding stuff is real and instant and that is how business should be conducted . Especially in view of the savage cuts under the Pension reform , every bit helps when your income is suddenly on poverty level .
    While I do not doubt the Liberals are brazen enough to introduce the cashless era , especially in view of their poor showing in opinion polls , they are heading for crushing defeat in the next election .
    Old Geezer
    31st Mar 2017
    4:43pm
    Good idea as the sooner we get rid of cash the better.
    Triss
    31st Mar 2017
    10:58pm
    A lot of people think like that, Old Geezer, but doing a bit of forward projection makes me think it's not a completely good idea. With a cashless society the banks will benefit from needing fewer employees, the same with whoever prints currency. More unemployed people.
    Once we are firmly ensconced in a cashless existence then we will be charged for every transaction.
    Of course the next thing, which will be lauded by many, is the removal of cards in favour of a chip somewhere in our person like a cat then we can be treated as less than human.
    niemakawa
    31st Mar 2017
    11:18pm
    @Triss, a chip on the shoulder maybe. Robots are expected to be doing the work of humans to a much greater extent in the near future. I suppose there will be a Robot tax to compensate. At the least the beaches will be full.
    Oldman Roo
    31st Mar 2017
    11:48pm
    O.G. , You remind me of Herr Propaganda Minister Josef Goebbels .
    Roller53
    31st Mar 2017
    4:52pm
    It is not only older folk that should fear a cashless society. I first heard about this idea in 1978 as part of a "conspiracy theory". Maybe it wasn't such a crackpot theory after all.
    Old Geezer
    31st Mar 2017
    4:55pm
    They are already thinking of taking $100 and $50 notes out of circulation as most are being used to store wealth and not being used in circulation.
    Circum
    31st Mar 2017
    5:00pm
    Guess that shows how smart THEY are.Storing notes has never been a way to store wealth as inflation reduces wealth not increases it.
    Old Geezer
    31st Mar 2017
    5:23pm
    That depends on how you earn your money. Pay no tax on it and with low inflation you are way in front.
    Circum
    31st Mar 2017
    5:42pm
    Your comment fails the logic test OG ,You claimed that storing notes was a way of storing wealth and that the wealth wasn't being circulated.Nothing to do with tax or tax avoidance
    Old Geezer
    31st Mar 2017
    11:36pm
    It is circulating but not through the intended channels.
    niemakawa
    31st Mar 2017
    11:40pm
    Banks stock up on $100 notes on pension day as quite a few older ones take the money, they do not trust the banks.
    Old Geezer
    31st Mar 2017
    11:59pm
    That sounds like a good agreement for having a welfare card instead of using the bank.
    Happily Me
    31st Mar 2017
    5:36pm
    Personally I feel a cashless society would be extremely dangerous for the general population.
    Speaking from experience on this reason - Natural Disasters. Don't think or say "Oh, it won't happen here/to me" (I used to think like that once too) .. .. because it can happen anytime, anywhere.
    When you have a natural disaster which causes loss of power supply - if you are trying to get food, fuel .. other necessities and you don't have cash - you go without. Simple.
    Not a good or nice situation to be in when you have mouths to feed. No power can also mean no contact via phone/computer as you can also lose internet access and phone reception. Not a nice situation to be in - and whether it only be for a day or two it may be a lot longer. And the media who are more interested in getting 'the story' rather than helping people who really need it!
    In my mind (and experience) .. keeping some back up cash is simply common sense now.

    On a different note - going cashless pretty would leave us open to losing everything and the higher elitists having total control of us wee sheeples. It may sound crazy but my mind sees it like this .. .. it will take away our freedoms in a scarily massive way. Dare we stand up for ourselves and/or our rights en masse, and they cut any way of payments (as there is NO cash now, remember!) as a way of regaining control .. .. well, it's another way for you to maybe look at things from a different perspective.
    Old Geezer
    31st Mar 2017
    11:57pm
    I never carry any cash as there is nothing I need it for even in disasters.
    MICK
    31st Mar 2017
    6:38pm
    I have been predicting this for some years now and it looks like we are almost there.
    The supporters of cashless transactions rightly state that it will do away with tax avoidance but of course not for multinationals and the rich who employ tax avoidance professionals to do this legally.
    The real worry is that your 'money' is no longer yours. I'd like readers of this column to imagine what is going to happen to them if if/when the next GFC hits. In case you are of the opinion that the government is to be trusted, any government, consider what happened in Cyprus where its government STOLE the money of depositors above 100,000 euros. The same legislation is now in place in ALL first world economies. Why? Read my lips.
    Whilst many readers here may not have significant sums of money in bank accounts some do and a change to digital currency is the opening of Pandora's Box. Distrust what is being done as with the good comes the truly evil.
    niemakawa
    31st Mar 2017
    11:34pm
    Yes a real heist that was. I think in exchange the depositors were given worthless securities.
    vincent
    31st Mar 2017
    7:08pm
    The default for a cashless society is cash. When the system fails there is simply no alternative but use cash. And as far as taking the higher denomination notes out of circulation that is utter rubbish. The way inflation goes,shortly you will need a 20 dollar note to buy a coffee.
    Australia has no high value notes a 100 dollar bill is a low value by international standards. All the other comments re fees and control are very valid too.
    niemakawa
    31st Mar 2017
    8:19pm
    No more COD. No more privacy. No more small change for the kids money boxes. OMG
    Old Geezer
    31st Mar 2017
    11:33pm
    My kids never had money boxes. I had a ledger system and when it got to a certain amount I put their money into a bank account. No cash was ever used. It was great training and taught them lots about money.
    niemakawa
    31st Mar 2017
    11:38pm
    @Old Geezer, did you not have any fun , emptying the money box is part of family life.
    MICK
    1st Apr 2017
    4:32am
    You crack me up Geezer. Spoken like a true accountant. You missed the point and your kids would have too. Robbed the little blighters of the warm fuzzy feeling with 'earning' a quid.
    Rae
    1st Apr 2017
    12:23pm
    Yes MICK. At least we did have the fun of opening those first pay packets and seeing the money.

    I especially liked the days of the fortnightly cheque cash night at the pub. The publican cashed the paycheques and we ate at the bistro, had a game or two of pool and a couple of beers catching up with everyone.

    Then the banks got involved and its been no fun ever since and increasingly expensive.

    Talk about a transaction tax. That is a no go for the government but will happen to us if all transactions are on the card.
    niemakawa
    31st Mar 2017
    8:30pm
    What will happen to all the money hidden under beds. Contraband maybe!! Confiscated by the Government or cash made illegal tender. Time for a spring clean!!!!!!!!!!!!!!
    Old Geezer
    31st Mar 2017
    11:31pm
    That why we should change our cash every few years and discount any old currency converting it to new currency. The older it is the bigger the discount to convert it to new currency.
    MICK
    1st Apr 2017
    4:36am
    Now that is a really good point.
    I suspect the answer comes from recent events in India which are being either mimicked or talked about. The Indian government recalled large notes and gave Indians a rather short time to bring them in and exchange for smaller notes. This was to flush out those who avoided the tax system as well as edging Indians one step closer to a cashless economy.........where big brother has total control of YOUR money.
    niemakawa
    31st Mar 2017
    8:32pm
    What will happen to the world I was always led to believe that money makes the world go around. So will it stop and we will all fall off!!!!!!!!!!!!!!!!!!1
    Oldie84
    1st Apr 2017
    10:54am
    You got it in One niemakawa,

    31st Mar 2017
    9:06pm
    here we go again, just read the comments of your masked labor troll better known as labor mick or the comments of old geeser in regard to the so-called cashless society, not hard to see the stupidity of their comments such as cash is expensive to business, over here go to a restaurant and you be told it is cash only or look at labor micks remarks, still showing his masked face or is it his backside, then again it might be an improvement of not having to see him in the flesh, he might make one day a comment of substance, don't hold your breath though, it might be a long time coming, just see his comment about the next gfc, he still does not accept that the last and the only one in modern times was under his so adored and beloved labor's rudd's government, I still can see him, Rudd, sitting on the floor with all those gullible followers, some playing in the sandpit others cutting paper models and most likely labor mick was one of them, believing their input was heard, micky welcome to the real world, the labor party is only interested in running this once great country into the ground, regardless of the concequences this may have on us, the people who build this country so our kids, grandkids could live the live we so wanted and worked for. labor mick you talk about true evil, well your comments and your masked appearance prove the person you are.
    Old Geezer
    31st Mar 2017
    11:30pm
    I haven't used cash for so long I can't remember when I last did use it.
    MICK
    1st Apr 2017
    4:46am
    The normal ignorant Liberal Party funded comment you make braindead99.
    Do yourself a favour: become informed rather than badger society for your tax cuts.
    The only Party running this country into the ground is your Party: the Liberal Party.

    1. Debt more than doubled in only 4 years. Your party! No GFC since 2008 though.
    2. Tax cuts for you and your rich friends. Your party!
    3. Blind eye and refusal to stop multinationals not paying taxes and rich Australians from using fraudulent offshore tax shelters. Your party!
    4. Attacks on Hospitality workers, the lowest paid people in the nation. Your party!
    5. Other industries now being eyed up for attack. Your party!
    6. High electricity prices with no Carbon Tax since 2008. Your party!

    Keep your gutter comments and your lying crap to yourself Heemsjerk. Nobody is listening. This community want things fixed. Your Party wants to plunder the country and turn workers into peasants.
    Oldie84
    1st Apr 2017
    10:53am
    Now Now children. Language...........
    Predator
    1st Apr 2017
    11:47am
    I do not agree, because it will be easier for hackers to take our money. I like to see what i buy and pay by cash or credit card, and mos importantly we have our right to chose how we like to pay and use our money.
    niemakawa
    1st Apr 2017
    4:09pm
    We know longer have any rights, to believe that you do then that is an illusion. The Government(s) want total control over everyone and this is just another step to fulfill that ambition. Call me cynical if you wish, but it is fact.
    Rae
    1st Apr 2017
    2:44pm
    Nobody has mentioned the reason the RBA is pushing for a cashless society.

    Once cashless it is possible to have negative interest rates. Simple.

    The Central Banks keep crashing up against the zero bound, which means interest rates cannot go below zero or people will hold cash in hand instead of money in the bank.

    If all wealth is in bank accounts then rates can be -2% or whatever they desire.

    Nothing you can do then. No zero bound to save you from rampant deflation.
    Circum
    1st Apr 2017
    6:25pm
    Good point Rae

    2nd Apr 2017
    4:26pm
    Yet another stupid thought bubble that ignores reality! We don't have the infrastructure to go cashless. Our internet system is one of the worst in the world - 56th in terms of speed! Vast areas have no connection at all - not even mobile phone cover. Lots of businesses have such poor connections that they can only process credit cards and EFT transactions sometimes. Some have staff having to walk around the store or even outside holding the stupid machine in the air praying for a connection to hold long enough for the payment to complete! Only an idiot would suggest we could go cashless any time soon given these conditions. And don't hold your breath waiting for improvement. Those of us living in black spots know only too well how slowly this country progresses.
    Rae
    2nd Apr 2017
    6:19pm
    LOL. Yes my son works on a Country Estate and we they run on shortwave radio for safety because you do that. Write a text and wander around until hopefully finding a spot where it is sent. People walking around with phones in the air is common. And the town has no ATM and works on cash at the little store, fuel pump and pub. There is nothing else there.

    The IMF probably has no idea of that though and this is where the push is coming from.

    I've written before of my cash backup stored in commercial safes.

    The Global Monetary System is a mess and we still don't know where all the money goes.

    I think it will buckle long before we go cashless here.

    The Scandinavian countries still have a strong public/private mix with high taxes but little need for money except for rents/mortgage and food/drinks.

    Privatisation is proving expensive, inefficient and prone to corruption.

    Those who want to add a total electronic system for the means of exchange are possible not able to see consequences Rainey or have motives of increased profit for themselves and easier monetary manipulations, including confiscation through interest rates.. Those of us that can see some of the negatives are quite right to be concerned.
    niemakawa
    2nd Apr 2017
    6:41pm
    @Rainey@Rae. Very good points. The motive by Governments to go cashless is obvious, not only control over our money but the opportunity to use the money at will. ( To plug a big deficit hole, for instance) They do not care about the speed of our the internet, look whats happened to broadband, years behind delivery in many areas and who knows how much it will eventually cost. It is unlikely that cash will disappear entirely but such transactions will diminish overtime. The Government is aware that there are a lot of notes not circulating in the economy and they want to weed these out. They will only be allowed to be converted at banking outlets. Therein comes the crunch they will want some form of document to state how the owner came in possession of them. No proof then they will more than likely confiscate them and probably charge the person for money laundering or such.
    Old Geezer
    3rd Apr 2017
    11:42am
    What a lot of rubbish! I went out bush for a few days last week and I paid for everything with plastic. Last time I used cash was on Santo a pacific island. I don't even carry cash any more.
    Rae
    3rd Apr 2017
    1:24pm
    You are exceptionally lucky OG but would not be impressed with a transaction fee on all transfers, previously stating that a transaction tax would be a financial disaster. Is it only we mug citizens that can be continually charged.

    You would not like negative interest rates either and that is a real possibility in a cashless system.

    Not to mention increasingly unreliable power and telecommunications coverage.
    Anonymous
    5th Apr 2017
    11:15am
    OG, that is an outright lie, unless you never went anywhere near the thousands of remote locations AND the many black spots in built up areas. I live in a country town just 10 minutes from a major city and I can't get a connection at home. I have a relative who couldn't get an internet connection in a major Brisbane suburb. She was on a waiting list for 3 years, and finally moved before getting a service. And when she moved, Telstra tried to impose a ''cancellation penalty'' because she was voluntarily opting out of a contract!!!! (Yes, of course she successfully refused payment, but it took hours of arguing and a letter to the Ombudsman.)
    Franky
    2nd Apr 2017
    7:19pm
    I don't trust the electronic payment systems. What happens if something goes wrong and your account suddenly becomes locked or unable to be accessed? Maybe I have to resort to getting some gold coins instead....
    Rae
    3rd Apr 2017
    7:23am
    US$ can be used in most countries Franky. I suspect that would become the underground currency. I seriously doubt America will go cashless any time soon. Too many work for tips over there.
    WTF
    3rd Apr 2017
    8:40am
    So what happens with respect to a day at the races? Cash is much more convenient. Would I have to wave the magic plastic to both place a bet and (hopefully) collect ? Wave the plastic to buy a beer or a pie?.... What happens if the power goes out ?
    WTF
    3rd Apr 2017
    8:40am
    So what happens with respect to a day at the races? Cash is much more convenient. Would I have to wave the magic plastic to both place a bet and (hopefully) collect ? Wave the plastic to buy a beer or a pie?.... What happens if the power goes out ?
    Old Geezer
    3rd Apr 2017
    11:31am
    No races anyway.
    niemakawa
    3rd Apr 2017
    4:02pm
    The Government wants to know where you spend your pension. Gambling of any sort will be surely on its "hit" list. The aim of any Government is to issue "pension" cards where your fortnightly payments will be loaded, but there will be severe restrictions on what goods or services you can buy.
    Old Geezer
    4th Apr 2017
    11:52am
    The government is giving your welfare for a purpose so they have a right to restrict your spending to that purpose.
    Anonymous
    5th Apr 2017
    11:06am
    Society has a right to totally destroy the lives of anyone unfortunate enough to suffer crisis, illness, disability, deprivation, etc. Why should these poor sufferers be allowed even the most minimal pleasures in a greedy, selfish, self-serving society where the privileged take all and walk all over those who weren't born so lucky? Yes OG, we know what sort of stinking vile society you want to live in. Thank goodness most Australians still have more decency.
    Priscilla
    3rd Apr 2017
    12:27pm
    Yes, I fear a cashless society. Firstly because of scams and secondly because using a card is not always possible. Only yesterday at a supermarket the tills were not working and people were asked to use cash. Modern technology looks good but it is fraught with danger!
    Old Geezer
    4th Apr 2017
    11:55am
    If you can use cash at supermarkets then you can use plastic. The number on your credit card can be keyed into the cash registers.

    5th Apr 2017
    11:11am
    I recently saw a great example of the stupidity of claiming we can go cashless. Friend booked a Jetstar flight on Webjet. Got a text instructing to go online and check in. Did that. Message said boarding pass would be sent to phone. Just show it on the phone to board. Yep. In it came. Wouldn't open. 404 error. Went to the computer and tried to access website described in the link. No such website. This was a modern and quite expensive Samsung Android phone, just 3 years old. Luckily, this person was travelling with another who had a new phone - same type, but only 3 months old. Forwarded the text to that phone and it opened and they boarded okay. But what happens when the passenger doesn't have access to someone with a new phone? It's a sad state of affairs when a retiree has to replace a $180 phone in less than 3 years in order to board an aeroplane. Apply the same problem to buying groceries and we are all in very big trouble!
    Anonymous
    5th Apr 2017
    12:02pm
    And I forgot to mention, Jetstar advertises no valid phone contact number, so you can't call and tell them their technology failed. Everything is done by some crap automated system so that the greedy pigs who demand huge tax cuts don't have to hire real people, and nobody in their management - much less in the LNP - cares how both the customer and society suffer. But I'll bet Jetstar pay their CEO and directors a king's ransom. And I'll guarantee they don't use any tax cut to hire a single additional person to handle the distress of customers who find themselves suffering awful stress because Jetstar's crap technology doesn't work properly!
    Radish
    5th Apr 2017
    5:07pm
    I have a smart phone ...not that expensive....but I am not connected to the internet on it.

    Only use to make calls and text.

    Why should I buy data that I dont want or need.
    Radish
    6th Apr 2017
    7:50am
    I would never travel Jetstar or Tiger...no way...rather pay extra and go with a full service carrier.
    Fliss
    6th Apr 2017
    8:04am
    Wondering how cashless will work for children at their school kiosk?
    I'm guessing the kids will just "book it up" for Mum to pay end of month.
    But Mum might get a huge shock when their little darling has been buying ice creams for the entire class! So then they put a monthly limit on the child's account? Great? Child hits the limit & has to go hungry that day! ????
    Can't see it working.
    musicveg
    28th May 2017
    3:24pm
    I still want the option for cash. If I sell something on Gumtree that I paid for and am just trying to recoup some spending, I want cash, I then spend it on food or bills. I refuse to buy a smartphone (and can't afford one), and if the power goes out I can't pay my bills online. Another money and power grabbing scheme and taking away our freedom to choose whilst banks get more control.
    musicveg
    22nd Jun 2019
    2:17pm
    Update, I now own a smartphone, no dumb phone would work in my area. I have not used it to buy anything yet though, have not downloaded banking apps.
    gerry
    22nd Jun 2019
    11:24am
    with half the solar panels needing replacement because of deterioration and windmills going out of fashion because of noise and dying birds, and these sources of power only producing 3% of our needs at times,,,we will be getting loads of power brownouts ,..The phones will be out and the tap and go machines will be useless.. its happened already
    Also there are many people who find they've been charged twice,,and youngsters who never check their statements ....Theres a trendy coffee shop in sydney where only bitcoins re accepted.....Guess what we have an afterpay butcher in Cairns ,I told them to keep in touch when they start Neverpay
    musicveg
    22nd Jun 2019
    2:19pm
    This is a two year old post Gerry, and your comments re; renewable energy are not correct, we have great progress in it and it will be 50% renewable energy production by 2050.
    As for digital currency, it is predicted this will take over other means of paying in the future, there is already great strides in it and bitcoin is only one of those currency there are many others now. Time to invest is now, those who got in early with bitcoin have made millions.


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