Originally posted by Hermes8
2- my guess is that checks would be considered cash
Checks are still traceable.
Just a small quick observation if they tried this in the US. They better change some things with the credit and debit cards so people can purchase
large ticket items. There are people who prefer not to obtain loans or mortgages, and love to go on large shopping sprees. Credit cards are not good
for large shopping sprees.
I tried to buy a $3000 bunk bed online, and couldn't use my debit card to do it, because of limits. I couldn't get it raised even though I had more
than enough money in my bank account. If I had a lot of money, I would hate to have my credit card company or bank call me every time I tried to do a
A very long time ago. I used my credit card to do multiple purchases in various stores, and also bought necessary items for my fiance for our wedding
and honeymoon plans. Half way through the shopping trip, I couldn't use the card any longer. I still had plenty of room left on it. When I finally
got home, the phone was ringing off the hook with company personal asking if the card was stolen. Actually they already assumed it was stolen and put
a block on it. I ended up having to get a new card because of that.
Their excuse to do that without my consent was because I was making a large amount of highly unusual transactions. They pointed out that I bought two
pair of mens shoes from two different shoe stores. I was basically ripping them a new one at that time not believing they would put a hold just
because I decided to change my shopping patterns for a special occasion.
Now I see the value of buying things even expensive items with all cash. The last car I bought was with all cash. Well check that is. Some people
really freak out if they see a very large amount of actual cash. If I ever buy another house, I refuse to get another mortgage. I know even in
today's economy there are people who pay for houses in all cash. More like check or bank transfers.
If checks and bank transfers were labeled as cash deals as well, I can see a whole slew of problems rising up.
Aunt Jamie wants to sell the family heirloom to uncle Joe for $3,000, but can't process debit or credit cards. Online transfer sites such as PayPal
set a limit or are not trustworthy enough. Without being able to write a check or do a bank transfer to Aunt Jamie, how is Uncle Joe going to pay for
the family heirloom?
I wonder if there are still any businesses that sell items at a high price, and demand only cash. I know a few years back I have heard of business
going to buy product with a large amount of cash, since the company they deal with will only take cash. The airport police confiscated all the cash as
drug money. He was jailed only to be released later as totally innocent, and his story 100% true. The last I heard the money still wasn't returned to
Times are really changing.