Man, I thought attempting to deposit a cheque with a certain Very Large Bank who bought up my Much Smaller Bank during the GFC and then decided to move that Much Smaller Bank to being a completely online only presence recently was hard.
Partially my fault because the share registry for my employee shares didn't have my bank details to directly deposit my dividends into, and had to send me a physical cheque for $12.34 like some quaint olde worlde dispenser of capitalist excess.
The disappearance of my Much Smaller Bank's branch network meant that I couldn't pop into a branch to deposit it, and I had to do some Google-fu to discover I could deposit the cheque via an ATM of the Very Large Bank instead. Of course I then had to find an ATM that accepted deposits into the Very Large Bank, and that proved more difficult that I had anticipated. I finally stumbled across one outside a branch in a shopping centre, and it only took me 4 tries and what felt like a decade for the ATM to accept the admittedly slightly shopworn cheque that had been lurking in my wallet for the last 8 months.
I can't imagine the agonies of attempting to extract money from the Very Large Bank if this is how difficult they make giving them money *shudder*.
well that was unhelpful. You'd think if it was one of the big four banks which constantly record eye watering guillotine envisioning profits would be able to at least maintain the machinery. But I guess this was the machinery to provide you with cash, not to take cash out of you so I guess its working as it was meant to.
For smaller businesses the overhead of managing the small amount of cash they're transacting with is probably the driving factor in going cash free. Bigger businesses have no such excuse.
As a small business owner myself (a one man show, even!) I like cash because I don't have to pay a transaction fee on it and I can deposit it straight to my wallet until I make the 30 second walk to my local post office.
We have one weird ATM in town that charges $3.10 per transaction, and always seems to have no money leading up to public holidays (we're a tourist town, so that helps us not at all) and school holidays. It managed to run out of $$$ a couple of days before Xmas and wasn't restocked until after new years.
I seem to go to a lot of bakeries and milk bars, they all now have signs saying how they prefer cash. I don't feel it is a GST scam, they just sick of paying fees to make transactions easier for banks.
We have a few local businesses that have similar signs up.
We also have a local business that passes the fees on to the customer, which, for a tourist town where people come in droves on weekends and public holidays, doesn't strike me as a good model, but, hey, what do I know; I sell books.
I would be scared to see the actual dollar amount all the transaction fees add up to in a year. When I moved to Australia I used to carry a decent amount of cash and I kinda miss those days.
Each time I shop at Aldi I cash out $50. Then when I need cash old for, err, things, it’s in my little old timey stash. A useful little “collection”. I occasionally show my kids a wad of pineapples, to feel and remind them of the tangibility of the numbers they move around on the screen buying the “nice to haves” (have you seen the amount of weird shit a 17 yo girl buys for her skin?!). A reminder that it’s hard work to earn it, don’t blow it and respect when we do things for you and we have to shell out the dollarydoos you are fondling! Oh and the zombie apocalypse… 😁
I can’t believe y’all have to put with this nonsense. I’ve had the same bank for over 30 years (with only one merger) and have never had any issues like this.
Can you deposit checks with your smart phone? Just curious.
Man, I thought attempting to deposit a cheque with a certain Very Large Bank who bought up my Much Smaller Bank during the GFC and then decided to move that Much Smaller Bank to being a completely online only presence recently was hard.
Partially my fault because the share registry for my employee shares didn't have my bank details to directly deposit my dividends into, and had to send me a physical cheque for $12.34 like some quaint olde worlde dispenser of capitalist excess.
The disappearance of my Much Smaller Bank's branch network meant that I couldn't pop into a branch to deposit it, and I had to do some Google-fu to discover I could deposit the cheque via an ATM of the Very Large Bank instead. Of course I then had to find an ATM that accepted deposits into the Very Large Bank, and that proved more difficult that I had anticipated. I finally stumbled across one outside a branch in a shopping centre, and it only took me 4 tries and what felt like a decade for the ATM to accept the admittedly slightly shopworn cheque that had been lurking in my wallet for the last 8 months.
I can't imagine the agonies of attempting to extract money from the Very Large Bank if this is how difficult they make giving them money *shudder*.
Which bank was it? or a different one?
Indeed.
well that was unhelpful. You'd think if it was one of the big four banks which constantly record eye watering guillotine envisioning profits would be able to at least maintain the machinery. But I guess this was the machinery to provide you with cash, not to take cash out of you so I guess its working as it was meant to.
I am using cash more and more now, so sick of banks asking me to pay for their efficiencies.
Unfortunately more and more businesses are refusing to take cash. (Which I suspect might even be illegal).
Apparently not as long as you’re upfront about it.
https://lawpath.com.au/blog/is-it-legal-for-a-business-to-refuse-payment-by-cash
For smaller businesses the overhead of managing the small amount of cash they're transacting with is probably the driving factor in going cash free. Bigger businesses have no such excuse.
As a small business owner myself (a one man show, even!) I like cash because I don't have to pay a transaction fee on it and I can deposit it straight to my wallet until I make the 30 second walk to my local post office.
We have one weird ATM in town that charges $3.10 per transaction, and always seems to have no money leading up to public holidays (we're a tourist town, so that helps us not at all) and school holidays. It managed to run out of $$$ a couple of days before Xmas and wasn't restocked until after new years.
I seem to go to a lot of bakeries and milk bars, they all now have signs saying how they prefer cash. I don't feel it is a GST scam, they just sick of paying fees to make transactions easier for banks.
We have a few local businesses that have similar signs up.
We also have a local business that passes the fees on to the customer, which, for a tourist town where people come in droves on weekends and public holidays, doesn't strike me as a good model, but, hey, what do I know; I sell books.
I would be scared to see the actual dollar amount all the transaction fees add up to in a year. When I moved to Australia I used to carry a decent amount of cash and I kinda miss those days.
Each time I shop at Aldi I cash out $50. Then when I need cash old for, err, things, it’s in my little old timey stash. A useful little “collection”. I occasionally show my kids a wad of pineapples, to feel and remind them of the tangibility of the numbers they move around on the screen buying the “nice to haves” (have you seen the amount of weird shit a 17 yo girl buys for her skin?!). A reminder that it’s hard work to earn it, don’t blow it and respect when we do things for you and we have to shell out the dollarydoos you are fondling! Oh and the zombie apocalypse… 😁
Are any of your banks transnational?
I can’t believe y’all have to put with this nonsense. I’ve had the same bank for over 30 years (with only one merger) and have never had any issues like this.
Can you deposit checks with your smart phone? Just curious.
in australia businesses run unchecked and view the small population of Australia technically as customers, but ultimately as a nuisance. ;)