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

[ReynST]

Honestly, I wish more masseurs accepted electronic payment methods. ... or provided receipts. As a masseur myself receiving massage is a legitimate tax write-off! 😭😂

[+ FrankR]

17 minutes ago, ReynST said:

Honestly, I wish more masseurs accepted electronic payment methods. ... or provided receipts. As a masseur myself receiving massage is a legitimate tax write-off! 😭😂

You do you. For me, cash is still the best way and greatly appreciated by all my providers.

[LosingControl]

15 hours ago, BenjaminNicholas said:

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

I couldn’t have said this better myself!

[Monarchy79]

16 hours ago, KensingtonHomo said:

Because ATM fees are outrageous. 

Why would someone paying hundreds of dollars for a “personal” service, care about an ATM fee? 

[+ KensingtonHomo]

46 minutes ago, Monarchy79 said:

Why would someone paying hundreds of dollars for a “personal” service, care about an ATM fee? 

Because I grew up poor and see no reason to let banks take more of my money even if I'm engaging in a luxury. Why should I pay somewhere between $3 and $7 when I can use Venmo for $0? 

[Monarchy79]

2 hours ago, KensingtonHomo said:

Because I grew up poor and see no reason to let banks take more of my money even if I'm engaging in a luxury. Why should I pay somewhere between $3 and $7 when I can use Venmo for $0? 

One could also say that while growing up poor… there are ways to be sexually satisfied for free…. So why pay somewhere between $250 + when you can bust a nut for free? 

I’m only giving you grief (in jest), because my mother has a similar pathology of what I call “expense displacement”.

I will take her and my aunt to the casino for them to throw hundreds of dollars into a slot machine, yet when it’s time for dinner, she refuses to go to a nice steakhouse (even though she’s not paying), because the prices are “too high”. 😝
 

 

 

 

Edited July 12 by Monarchy79

[+ DrownedBoy]

You know, if you actually use an ATM for a bank branch you have an account with, they usually waive the fee. At least at my bank.

Or just cash a check with a teller at one of your branches. I always try to leave the impression that the money is for gambling. 

You do have to plan ahead, but as several said in other threads, using cash is a good way to watch your spending. 

[caramelsub]

25 minutes ago, DrownedBoy said:

You know, if you actually use an ATM for a bank branch you have an account with, they usually waive the fee. At least at my bank.

Yep. Atms don’t charge a fee if the debit card you are using is with the same bank as the atm.

[+ APPLE1]

I think it's always a question of "is the value of the service worth it?"

3 hours ago, KensingtonHomo said:

see no reason to let banks take more of my money even if I'm engaging in a luxury.

I am pretty resistant to paying a fee to get my own money as well. I know every ATM within 2 miles of my house, and on my daily commute, that is "no fee" or at a bank linked to my own.

1 hour ago, Monarchy79 said:

she refuses to go to a nice steakhouse (even though she’s not paying)

My mother is resistant to eating out for pleasure. It's only a convience option in her mind. She's said many times that she "spent many years putting 3 meals a day on the table for a family. Making a meal is easy. Why should I pay a ton of money for someone else to do easy work I could do myself."

[+ purplekow]

8 hours ago, ThroatCummer said:

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. 

I was going through a drive through at Wendy's,  I really enjoy their Parmesan Chicken salad, and the bill came to about 40 dollars. (I buy several at a time) I tried to pay with a 50 dollar bill and was told that they do not accept them.  I believed this was illegal, but I paid with a credit card and went on my way.  Going through a toll, I do not have EZ Pass, I tried to pay a $18 dollar toll with that same 50 dollars, and was told they could not make change.  I have to get a bill sent to my home as I did not have any smaller bills.  I understand that forgeries are a problem, but there are easy methods of checking the larger bills to prove their not forged.   I would think large businesses and government services would rather take the infrequent loss on a phony bill, rather than the ongoing charge for using a credit card.  If there is a 2% fee,  there would have to be one in 50  50 dollar bills which are conterfeit.  I can conceive that is the case.    PS I have escorts who take my personal check.  Especially travellers who I know well do not mind as they do not have to carry cash with them.  

[+ purplekow]

By the way, to the poster who keeps a wad of 100's so he has something to give potential robbers, I think it may be time to use those 100's for some sort of protection system.  BTW what do you give out for Halloween?

[MikeBiDude]

1 hour ago, purplekow said:

I tried to pay with a 50 dollar bill and was told that they do not accept them.  I believed this was illegal

Not illegal, at least here in California.

Well managed Wendys and other fast food restaurants try and keep their cash drawers “thin”, with frequent “drops” being made to a safe, so that when robberies occur (or employees eye a lot of cash) the loss it less. Restaurants that get robbed and have $300-$400 taken, get made a target, even with robbers posting on social media they got a decent haul at fast food XYZ.

 

[marylander1940]

On 7/11/2024 at 9:01 PM, 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.

That can only happen if they travel internationally. They can always stop by by an ATM and deposit money without seeing any person. 

I know escorts who carrie certain debit cards to some cities knowing which banks are available in each city and where they are. 

I don't want to bring another subject into the discussion but cash could be untaxable. I know guys from other countries who have accounts without a social security number and under 10 K to pay rent, wire money home, etc..

 

 

 

 

 

Edited July 13 by marylander1940

[+ Vegas_Millennial]

2 hours ago, purplekow said:

I tried to pay with a 50 dollar bill and was told that they do not accept them.  I believed this was illegal, but I paid with a credit card and went on my way.

It's not illegal for a business to decline forms of legal currency.  For example, most every public bus required exact change back when most people paid their fare with cash.  If a business wants to say "we only accept pennies", that is there prerogative.  The free market will dictate whether customers will choose to continue to patronize such a business.  (I have refused to buy at businesses that won't accept cash, and tell them so before I walk away without a purchase).

As far as I know, only New York City and New York State have enacted laws which require all business to accept cash.  If a business is set up for digital payments (such as a subway turnstile, or many arcade games now), the business must provide a place on site for the customer to convert their cash to the digital payment accepted by the business.  But this is only in New York, and is a fairly recent law enacted in the last two years.

[+ APPLE1]

2 hours ago, purplekow said:

I would think large businesses and government services would rather take the infrequent loss on a phony bill, rather than the ongoing charge for using a credit card.  If there is a 2% fee,  there would have to be one in 50  50 dollar bills which are conterfeit. 

I think you are missing ALL the "fees" associated with collecting cash. It's not just a question of counterfeit bills. It's theft,  employees theft, time to count and RECOUNT drawers of cash, time taking deposits to a bank, time giving back change, and making change incorrectly  (which certainly may lead to employee attrition).

[+ APPLE1]

3 minutes ago, Vegas_Millennial said:

It's not illegal for a business to decline forms of legal currency.  For example, most every public bus required exact change back when most people paid their fare with cash.  If a business wants to say "we only accept pennies", that is there prerogative.  The free market will dictate whether customers will choose to continue to patronize such a business.  (I have refused to buy at businesses that won't accept cash, and tell them so before I walk away without a purchase).

As far as I know, only New York City and New York State have enacted laws which require all business to accept cash.  If a business is set up for digital payments (such as a subway turnstile, or many arcade games now), the business must provide a place on site for the customer to convert their cash to the digital payment accepted by the business.  But this is only in New York, and is a fairly recent law enacted in the last two years.

As I understand, there are a handful of other states that have mandated accepting cash payments for in person business transactions. It's likely also important to note that it's not a cash free for all - - - written into the laws are often provisions for things like not being required to accept bills larger than a $20 and capping acceptance of cash for purchases totalling $1500 or less.

[+ Vegas_Millennial]

2 minutes ago, APPLE1 said:

I think you are missing ALL the "fees" associated with collecting cash. It's not just a question of counterfeit bills. It's theft,  employees theft, time to count and RECOUNT drawers of cash, time taking deposits to a bank, time giving back change, and making change incorrectly  (which certainly may lead to employee attrition).

I work for a government agency.  When we started licensing marijuana dispensaries, all of the government fees had to be paid in cash (no banks wanted to be associated with a digital transaction involving marijuana).  While it was a little bit of a learning curve for safe locks and armored truck pickup times, in the end we still decide to charge fees for electronic payments.  Credit card fees have just gotten too high to justify their use over cash.

[+ APPLE1]

I also see a lot more businesses accepting debit payments and cash. As I understand the debit fees are significantly less than credit card fees.

Edited July 13 by APPLE1
Spelling

[bretts2002]

For me, it will always be cash…..or nothing.  I am quite sure there will be a handsome man who will be ok with my cash.

 

[Proximusss]

I hate carrying cash, so I always pay my regular via bank transfer. The agency he works for asks for payment in cash but I asked to pay by bank transfer after our first session because withdrawing that much money (our sessions are over £500) was just too much hassle and stress for me. 

[jackcali]

Maybe I'm spoiled because I live in NYC, but my bank has a free ATM on nearly every corner, so it's easy to get cash to pay my provider.  Last month, on my way to see my regular, I stopped at an ATM that only gave $20 bills, so I ended up handing him a thick stack rather than a few hundred-dollar bills.  "Just like the old days" was his response. 

[+ DrownedBoy]

16 hours ago, Vegas_Millennial said:

I work for a government agency.  When we started licensing marijuana dispensaries, all of the government fees had to be paid in cash (no banks wanted to be associated with a digital transaction involving marijuana).  While it was a little bit of a learning curve for safe locks and armored truck pickup times, in the end we still decide to charge fees for electronic payments.  Credit card fees have just gotten too high to justify their use over cash.

In Illinois at least, legal marijuana dispensaries require cash for all EDIT purchases. 

They have ATMs but they charge everyone a fee.

Yes, some Chicago dispensaries were hit since they have all that cash.

Edited July 13 by DrownedBoy

[misterhumphries]

On 7/11/2024 at 7:59 PM, BenjaminNicholas said:

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.

Now I've read that more and more businesses are not accepting CHECKS. Cash is never going out of style. However, I can see the personal safety value for an escort to be paid via Cash App or some electronic platform. It greatly reduces the temptation and risk of being mugged.

[Johnrom]

Masseurs would prefer cash. Plus it’s  More discreet for the client.  And no paper trail for the masseur. Electronic transactions leave a record. 

[BeamerBikes]

Cash will always have a place.  It’s the only truly discrete transaction.  
 

Also, carrying an emergency $100 came in clutch while in Shanghai at a work dinner. The exceptionally good local restaurant only took cash and China payments.  No western credit cards.  We had no local currency and no China pay methods. It was becoming a big deal between my executive, our APAC guide, and the restaurant management.  Lots of tension.  
I remembered my emergency Franklin and old friend Ben applied some quick international diplomacy.   My exec later commented how smooth I resolved the issue, and why do you carry an emergency hundred?  I replied, “Even good men have vices. It’s best to be prepared. “ gave him a wink.  And he cracked up laughing.