Do I need to worry that cash is on it's way out?

[viewing ownly]

It was major business news that Target is no longer accepting personal checks for payment, so times are definitely changing. I saw an ad for a masseur today who looked promising, until seeing that he does not accept cash at all. I first saw this with a guy who no longer advertises last year (stunning big-nippled Dimari Thomas), which is disappointing. 

It's the most anonymous way of having a transaction, so why oh why is it seemingly headed toward a demise? Now, back to my butter churner.....

[+ KensingtonHomo]

Because ATM fees are outrageous. And it’s simpler to just use Venmo or Zelle. I have had a couple of providers request cash and generally turned them down. Plus there are many stories on here of people paying upfront and providers shorting them. With electronic transfer, that’s not as likely. 

[DWsoccer]

6 minutes ago, KensingtonHomo said:

Because ATM fees are outrageous. And it’s simpler to just use Venmo or Zelle. I have had a couple of providers request cash and generally turned them down. Plus there are many stories on here of people paying upfront and providers shorting them. With electronic transfer, that’s not as likely. 

Don't be lazy.  Just go into your bank and withdraw.  😉

I agree with the OP - cash offers more discretion, and is no more risky in prepayment than Venmo or Zelle.  

[+ BenjaminNicholas]

1 hour ago, viewing ownly said:

It was major business news that Target is no longer accepting personal checks for payment, so times are definitely changing. I saw an ad for a masseur today who looked promising, until seeing that he does not accept cash at all. I first saw this with a guy who no longer advertises last year (stunning big-nippled Dimari Thomas), which is disappointing. 

It's the most anonymous way of having a transaction, so why oh why is it seemingly headed toward a demise? Now, back to my butter churner.....

Are you kidding me?  Cash will always be king.  It's going NOWHERE.

Personal checks are not cash.  Too many ways for people to scam on personal checks, even with electronic verification.  I can't blame ANY major business for cutting them off and reducing their shrink.

An escort who stops accepting cash is a fool.  He's not the norm and is cutting off his nose to spite his face.

[ReynST]

1 hour ago, viewing ownly said:

It's the most anonymous way of having a transaction, so why oh why is it seemingly headed toward a demise? Now, back to my butter churner.....

I don't think cash will become obsolete, but it could be he's had a bad experience with it. Someone might've given him fake bills or he could've gotten robbed. 

There is a growing trend to pay electronically, but cash services in general don't seem to be going anywhere soon.

[DWnyc]

3 hours ago, viewing ownly said:

It was major business news that Target is no longer accepting personal checks for payment, s

Wait … people were still able to use personal checks at stores like Target??? 
 

[Simon Suraci]

Cash is king and always will be. It’s the only truly private way to pay.

In this biz, privacy and discretion are paramount to a large percentage of our client base.

It’s frustrating mainstream business is slowly doing away with cash, like restaurants that only accept digital payments, and some Target locations only provide one self checkout machine (of 8+) that accepts cash. Like it’s some huge bother. 

While doing some grocery shopping the other day at Trader Joe’s, a Gen Z cashier looked terrified at the sight of cash, like she didn’t know what to do with it. She also did not know what 6x8 was without using a calculator. She asked the bagger, and she (also Gen Z) didn’t know either. Troubling. 

I gave another Gen Z cashier a $100 bill for a large purchase last year. This bill was printed in the 80s or 90s and had the older style design. He thought it was fake. His manager had to come over and make a scene educating him about how different ways currency looks over the decades. So embarrassing.

[+ APPLE1]

I think businesses imposing "convenience fees" will be yet another reason cash always exists.

[DWnyc]

In geographies like the US given the legal issues, any provider (of escort services or anything else outside the regular economy) who insists on electronic payment is probably up to something. (Not including those who allow it as an option for convenience for those who feel comfortable).

The average US provider often has more to lose from the paper (ie electronic) trail given the volume of transactions compared to an individual client. 

While Some providers and clients especially those in their early 20s who have known nothing else - may be totally sincere in preferring electronic payment, many providers expressing a preference especially in form of prepayment (aka deposits … ) are likely trying to gain some leverage (such as the clients ID info), or the client should wonder if the provider is really all they claim to be (are they law enforcement or more likely scammers who will never provide the service).

I recognize the discussion may be different in places like Canada, Europe etc 

 

. 

 

Edited July 12 by DWnyc

[DWnyc]

10 minutes ago, Simon Suraci said:

It’s frustrating mainstream business is slowly doing away with cash, like restaurants that only accept digital payments,

And business is responding as it always does in a relatively free market.

some banks (not sure if we can name them - easy to look up) offer virtual credit cards where the merchant doesn’t see your actual credit card number or name (you can make it up) though your own statements will still show merchant names. 

and despite tighter controls on apps like venmo and cash app requiring ID to be stored as a condition of allowing an account - alternatives allowing anonymity while satisfying law enforcement concerns on AML and terrorist financing are likely just a year or so away.

scammers will have a field day if we we don’t stay one step ahead - and naively assuming everyone is well intentioned won’t help in this space or others. Applies to providers as well requiring payment … the digital equivalent of “the check is in the mail” from a supposedly busy client rushing out the door to their next appointment never to be seen again etc isn’t impossible to imagine.

[+ DynamicUno]

A traveling provider might discourage cash payments when they can't easily get to a bank branch to deposit the money and they don't want to carry cash though airport security.  There have been instances of federal agents stopping passengers on the jetway and seizing cash under civil forfeiture, likely having been tipped off by TSA security screeners telling them who to search.

[+ APPLE1]

I understand not wanting to take a lot cash on an airplane, BUT, in the age of ATMs that accept cash deposits, and refillable debit cards, I am not sure simply 'not wanting to fly with cash' is a great reason not to accept cash.

I travel some for work. I have both a main credit union account that gives me "partner" access to ATMs across the country, and when that fails, I specifically have a debit card at a nationwide bank.

Edited July 12 by APPLE1
Spelling

[DWnyc]

16 minutes ago, DynamicUno said:

A traveling provider might discourage cash payments when they can't easily get to a bank branch to deposit the money and they don't want to carry cash though airport security.  There have been instances of federal agents stopping passengers on the jetway and seizing cash under civil forfeiture, likely having been tipped off by TSA security screeners telling them who to search.

In theory that should only happen if they’re traveling internationally and have above the clearly posted limit on them. There may be other reasons they were stopped. 

If someone can’t deposit cash at an ATM (doesn’t have to be a physical branch) because their bank doesn’t have one in that geography, perhaps they can get gift cards from stores like 7-Eleven / Walmart / Gas stations or equivalents - or as a last resort the airport gift stores. One can also wire money to oneself using services like western union and a growing number of options from pretty much anywhere to anywhere. 

[rvwnsd]

5 hours ago, viewing ownly said:

It was major business news that Target is no longer accepting personal checks for payment, so times are definitely changing. I saw an ad for a masseur today who looked promising, until seeing that he does not accept cash at all. I first saw this with a guy who no longer advertises last year (stunning big-nippled Dimari Thomas), which is disappointing. 

It's the most anonymous way of having a transaction, so why oh why is it seemingly headed toward a demise? Now, back to my butter churner.....

It is not heading toward a demise. The one or two escorts who don't accept cash are the exception, not the rule. Same with businesses (mostly restaurants) who don't accept cash.

There are large banks (Truist and TD Bank come to mind) who don't have ATMs throughout the country. Anyone who banks there and is travelling outside of their footprint (Eastern US) is SOL. However, if someone conducts a business and anticipates travelling, they should bank somewhere that has nationwide ATM coverage or buck up and carry cash.

PS: As for credit union shared branches, not all member credit unions' branches are shared. For example, Arizona Financial Credit Union's Biltmore branch does not offer shared branching, but their branch in East Phoenix does. Likewise, Sunwest's ATMs are not on the shared network, but their branches are. (Which is bizarre, but that's a credit union for you)

[Jamie21]

Interesting. Almost all ATM’s here (UK) are free to use to any bank customer. I bank with X Bank but I can withdraw cash, for free, from A, B, C bank etc. It’s an open network.

No one uses cheques any more, I last wrote a personal cheque 10 years ago. Everything is electronic. I can do all my banking on my phone or laptop. 

Most of my clients pay by card, they just tap their card on my card reader, it shows on their bank statement as “gay naked massage”…. 🤪. No sorry just teasing!!  it shows as JamesW. Very discreet, could be anything. A few clients pay cash but it’s unusual. I think the disappearance of cash is unfortunate because anonymity is important in an open society. 

[caramelsub]

With escorts I prefer paying with cash, because of less paper trail. All other shopping and dining, etc, I like to use my debit card, because I can track my spending, and don’t have to deal with carrying loose coins and bills in my pocket/wallet.

[wanderlust307]

I don't like cash, carrying notes, pay, count change, keep small change in the pockets is just annoying. So I use my debit card for everything except escorts. I always have a stack of 100s on a console next to the door of my apartment for burglars, and I take from this stack to pay for sex. 

[blck37]

Bank transfer for trusted regulars (especially if in substantial amounts), cash anyone else.

In some 3s occasions, my regular would front me (ie pay cash to the 3rd provider) and i pay him back (together with his portion) via bank transfer.

[+ ThroatCummer]

10 hours ago, Simon Suraci said:

I gave another Gen Z cashier a $100 bill for a large purchase last year. This bill was printed in the 80s or 90s and had the older style design. He thought it was fake. His manager had to come over and make a scene educating him about how different ways currency looks over the decades. So embarrassing.

This generally doesn't apply domestically, but the $100 USD is the most counterfeited note in the world. More of them exist outside the USA than inside. There are tons of places overseas that won't take older style $100 USD notes and only want bills made in the past decade or the most recent version. Thailand, Namibia, Panama, etc. These are all places I have been turned away from using an older style $100 note and I don't even mean the 80's and 90's versions. They don't even like the early 2000's bills either. 

[+ Pensant]

4 hours ago, wanderlust307 said:

So I use my debit card for everything

A number of respondents stated that they often use their debit cards. Debit cards, however, are more susceptible to hacking and, unlike credit cards, there’s no one to call to dispute a charge. I only use my debit cards to withdraw cash from ATMs. Fortunately, my main bank covers any bank’s ATM charges.

[caramelsub]

1 minute ago, Pensant said:

A number of respondents stated that they often use their debit cards. Debit cards, however, are more susceptible to hacking and, unlike credit cards, there’s no one to call to dispute a charge. I only use my debit cards to withdraw cash from ATMs. Fortunately, my main bank covers any bank’s ATM charges.

I just call my bank to dispute charges on my debit card, which I have done before. With my bank, after a charge has posted within 2 days, I can dispute it through my app with the bank or call them.

[soloyo215]

13 hours ago, viewing ownly said:

It was major business news that Target is no longer accepting personal checks for payment, so times are definitely changing. I saw an ad for a masseur today who looked promising, until seeing that he does not accept cash at all. I first saw this with a guy who no longer advertises last year (stunning big-nippled Dimari Thomas), which is disappointing. 

It's the most anonymous way of having a transaction, so why oh why is it seemingly headed toward a demise? Now, back to my butter churner.....

Several reasons.

First, handling cash is no longer as inexpensive, with ATM Fees and transaction fees.

Second, cash can and has put people at risk of robbery.

Third, the newer generation is not as worried about annonymity as the older generation.

Fourth, having transactions documented can be used to trace people, which gives the provider an extra layer of protection.

The system of paper check has always been flawed and very prone to forgeries, and used for scams.

[Thomas_Belgium]

10 hours ago, DWnyc said:

...I recognize the discussion may be different in places like Canada, Europe etc 

 

Indeed, the discussion is very different in Europe: for example the European Central Bank will print new banknotes with new designs at the end of the decade so I think € cash will be around for many decades:

https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.pr231130~cad7fa27ab.en.html

 

Edited July 12 by Thomas_Belgium
Link added

[wanderlust307]

58 minutes ago, Pensant said:

A number of respondents stated that they often use their debit cards. Debit cards, however, are more susceptible to hacking and, unlike credit cards, there’s no one to call to dispute a charge. I only use my debit cards to withdraw cash from ATMs. Fortunately, my main bank covers any bank’s ATM charges.

Why debit cards are more susceptible to hacking? 

I am in Europe and most people use debit cards. And we can dispute charges same as we do with credit cards. 

What I do is use a debit card for every day small expenses and use a credit card for higher amounts like the hotel in Mykonos...

[jackcali]

While I realize this site is focused on escorts and masseurs, keep in mind that the cash-based market for services is huge -- think housekeepers, nannies, gardeners, laborers, etc.  They are mostly paid in cash.   Cash payments let undocumented immigrants stay off the grid and allows all service providers to avoid paying taxes.  Also, a purchaser of services above a threshold amount from a provider ($5,000 per year this year, I think) has an obligation to make a filing with the IRS identifying the provider and disclosing the total of payments to them, so undocumented cash payments may be advantageous to the purchaser as well.   So, the next time an escort asks you for payment by Venmo, tell them that's fine but you need their Social Security number and you'll withhold 20% of the fee so you can pay it to the IRS.  I'm guessing the escort will suddenly realize that accepting payment in cash isn't such a burden. 

Edited July 12 by jackcali
Fixing typos