Ardvark are you sure your not on FB 🙂
Mar 7, 2024 23:06:54 GMT 1
via mobile
Polarengineer, ajm, and 4 more like this
Post by mysty on Mar 7, 2024 23:06:54 GMT 1
It could be you.
I'm also going to pay more cash again. Never thought about it like that but read below. Then you think wow, it's bad!
Be aware too and start paying more cash again
Why should we pay everywhere with cash instead of a bank card?
- I have a € 50 bill in my pocket and I will take it to a restaurant and pay for my dinner with it.
The restaurant owner uses this €50 to pay his bill at the laundromat.
The car wash owner expects his haircut at his barber.
The hairdresser uses this €50 to checkout in the supermarket.
After an unlimited number of payments, the value of my € 50 note remains the same, which means that it has fulfilled its purpose for everyone who has used it as a payment and the bank has no work or interference with every cash payment transaction made.
BUT WHAT
- IF I go to a restaurant right now and pay digitally with my bank card,
- the cost for my digital payment charged at the restaurant owner including transaction costs in percentages is average 2.5 % which then decreases to € 1.25 for each further payment transaction.
(This means that each subsequent payment transaction costs € 1.25)
- the same costs are applied as the restaurant owner digitally pays his bill at the laundromat,
- the payments of the laundromat owner at the hairdresser,
- so also the following payments, etc...
Therefore, after the first 36 transactions of this €50, only €5 will remain and the remaining €45 has become the property of the bank... thanks to all digital transactions and fees!
In addition, the cost for a payment card is average € 2.25 per month, so after saving for a month, you € 50 is still worth € 47.75.
Gone is gone, you can only spend it once.
Cash is King !
I'm also going to pay more cash again. Never thought about it like that but read below. Then you think wow, it's bad!
Be aware too and start paying more cash again
Why should we pay everywhere with cash instead of a bank card?
- I have a € 50 bill in my pocket and I will take it to a restaurant and pay for my dinner with it.
The restaurant owner uses this €50 to pay his bill at the laundromat.
The car wash owner expects his haircut at his barber.
The hairdresser uses this €50 to checkout in the supermarket.
After an unlimited number of payments, the value of my € 50 note remains the same, which means that it has fulfilled its purpose for everyone who has used it as a payment and the bank has no work or interference with every cash payment transaction made.
BUT WHAT
- IF I go to a restaurant right now and pay digitally with my bank card,
- the cost for my digital payment charged at the restaurant owner including transaction costs in percentages is average 2.5 % which then decreases to € 1.25 for each further payment transaction.
(This means that each subsequent payment transaction costs € 1.25)
- the same costs are applied as the restaurant owner digitally pays his bill at the laundromat,
- the payments of the laundromat owner at the hairdresser,
- so also the following payments, etc...
Therefore, after the first 36 transactions of this €50, only €5 will remain and the remaining €45 has become the property of the bank... thanks to all digital transactions and fees!
In addition, the cost for a payment card is average € 2.25 per month, so after saving for a month, you € 50 is still worth € 47.75.
Gone is gone, you can only spend it once.
Cash is King !
I guess they have to pay taxes like the rest of us.