Will Canada Be the First Country to Go Cashless? U.K. Survey Suggests It’s Likely

[Ibr0kEmYrAz0r]

It's funny as I'm not Chinese but i have seen some 100 yuan notes it seems the notes has more use outside china

A sign that Chinese RMB is starting to gain some grounds, as Iran-China relationship hits new high, and the Iranian government is trying to find alternative payment system other than US dollar/SWIFT system.

 

[Englishman]

So if British government comes after you whats good is cash going to do? I doubt you'll have piles of cash and first thing they do is seizing your bank account.



Unless you have tens of thousands in secret stash hidden somewhere what your gonna do with physical money when govt locks your bank account? Running around UK with thousands £ probably isn't safest thing to do.

And your point is?

 

[Ibr0kEmYrAz0r]

I agree with the kid on this one


Cashless system is bad news for everyday working class people.

The ruling elites of society can use it to their benefit. Working class people will have nowhere to hide. Everything they spend on or earn will be closely monitored and used against them.

It's always been bad for the working class commoners. England's turning into a police state, they have cash seizure power on anyone carrying over £1,000 cash, depending on reasonable grounds for suspicion. (Do we smell racial profiling?). Basically, if the police find £1,000 or more in any type of currency, cheques or bonds, and suspect that it has come from or is intended to be used to commit crime, they can seize and detain the funds.

The minimum sum which the police are allowed to seize is currently £1,000, created by statute under the Proceeds Of Crime Act 2002 (Recovery of Cash in Summary Proceedings: Minimum Amount) Order 2006, SI 2006/1699, Under section 289 (6) and (7) of POCA.

Try carrying a slightly large amount of cash on your on Liverpool/Brighton/Watford's high-street... (top drug related cities). Not to mention those several cash raids in London/Manchester flats last year (money laundering/tax evasion/drugs, etc.).

Whereas the rich and powerful CEOs just set up trusts and overseas account in BVI/Bahamas, and pay less Tax than the average Joe, it's always been like that!

 

[Ibr0kEmYrAz0r]

This is my experience with Canada, didn't see cash for years until I had to take some to Pakistan recently.

There is a prominent tipping culture in Canada (&USA), forgetting to leave a gratuity of between 15 to 25 per cent will probably cause the waiters to chase you down the road shouting. This forced a lot more usage of cash, as many tourists are from TRUE cashless countries, they simply just don't have any spare change, and would probably cause embarrassment on both sides. So one word for the hospitality/service industry in Canada, install some kind of digital tipping apps/platform!

 

[Broccoli]

And your point is?

My point being how does cash prevent tyranny? Hasn't done so in past. Only real worry is privacy and that banks won't sell your purchase info for marketing companies, etc.

 

[MH.Yang]

In the future, many countries will become cashless countries, but Canada is definitely not the first.

Credit cards will not accelerate Canada into a cashless country. On the contrary, the power of issuing credit cards will hinder the development of online payment, making it more difficult for Canada to become a real cashless country.

BTW: I think most Chinese have not paid cash in five or six years. We mainly use WeChat payment and Alipay. But China is still unable to be 100% cashless. Maybe we will never be able to do it.

 

[prashantazazel]

You don't have to like them; you don't have to agree with them; but DO try your best to obey them. A friendly reminder, as a free soul from a country with such rich history, please, the next time you visit Singapore, a representative democracy and US ally, do avoid vaping/spitting/chewing cums/urinating in pulic, etc.. as they have "Caning" law.

That's cute.