Cash is King

[Batmannr1]

For day-to-day purchases I stopped using cash. Do not even carry plastic a lot of times. Virtual cards on the phone are paying my every day coffee, groceries and meals.
Only the food delivery guy or waiter I might hand over some cash, just to be sure that the tip is not disappearing in the pocket of the restaurant owner.

[pickettt]

Originally Posted by Batmannr1

For day-to-day purchases I stopped using cash. Do not even carry plastic a lot of times. Virtual cards on the phone are paying my every day coffee, groceries and meals.
Only the food delivery guy or waiter I might hand over some cash, just to be sure that the tip is not disappearing in the pocket of the restaurant owner.

So, in essence, you only use cash to prevent funds from being stolen electronically.

[enjoythemusic]

In the USA you need cash at dispensaries.

A friend told me that btw. ;-]

[Blansky]

I use my AMX for everything but I carry enough cash, maybe 3-4 hundred, to cover any purchases that my credit card would not honor.

I've had 2 instances where the credit card was declined, one was an email sent by AMX saying the card was compromised, and it was basically frozen. I hadn't seen the email yet so I never responded.

The second time was a bank card, when I went to Hawaii and didn't notify the bank I was traveling and the purchase was declined.

So now being snakebite, I just have cash to cover most stuff I buy if it were ever to happen again.

[VictorGMT]

Originally Posted by Blansky

I've had 2 instances where the credit card was declined

I've told this story before... but I'll tell it again.

I was in Riyadh, Saudi Arabia on a business trip with one of our sales managers (I was an international arms merchant before retirement).

Our in-country agents were not hard workers, so some days we would not hear from them.

We went to the mall and found an Omega AD. His opening statement was "If you have American Express, I can give 25% off". We found a nice Seamaster for my son's upcoming graduation. I checked conversion rates and US prices, decided it was a winner. Pulled the trigger.

Then we found a Rolex AD. They had little stock on display (2019) but they had a rhodium dialed Datejust 41 that I liked, and it was available. Did a lot of math and it seemed favorable.

I told the disinterested SA "I'll take it". He walked us over to the counter. "How about a hat?" "No" "Shirt?" "No". I knew better than to ask for a bourbon!

He did the POS deal, then smiled and tossed my AMX Platinum toward me on the counter. "DECLINED!" he squealed with his first smile of the interaction.

I looked at my iPhone "American Express Fraud Alert. Are you attempting a transaction at Rolex of Riyahd? Press 1 and retry if so".

I pressed one, tossed it back, and said "Run it again". It went through. He face fell. (I think the second bag had two copies of the latest Rolex magazine).

---

Coming through customs in JFK, on the declaration form I simply listed "Two Stainless Steel Watches". The agent glanced and said "Have a nice day" as he waved me through.

Great memory for this watch.

[MrGoat]

Originally Posted by VictorGMT

I've told this story before... but I'll tell it again.

I was in Riyadh, Saudi Arabia on a business trip with one of our sales managers (I was an international arms merchant before retirement).

Our in-country agents were not hard workers, so some days we would not hear from them.

We went to the mall and found an Omega AD. His opening statement was "If you have American Express, I can give 25% off". We found a nice Seamaster for my son's upcoming graduation. I checked conversion rates and US prices, decided it was a winner. Pulled the trigger.

Then we found a Rolex AD. They had little stock on display (2019) but they had a rhodium dialed Datejust 41 that I liked, and it was available. Did a lot of math and it seemed favorable.

I told the disinterested SA "I'll take it". He walked us over to the counter. "How about a hat?" "No" "Shirt?" "No". I knew better than to ask for a bourbon!

He did the POS deal, then smiled and tossed my AMX Platinum toward me on the counter. "DECLINED!" he squealed with his first smile of the interaction.

I looked at my iPhone "American Express Fraud Alert. Are you attempting a transaction at Rolex of Riyahd? Press 1 and retry if so".

I pressed one, tossed it back, and said "Run it again". It went through. He face fell. (I think the second bag had two copies of the latest Rolex magazine).

---

Coming through customs in JFK, on the declaration form I simply listed "Two Stainless Steel Watches". The agent glanced and said "Have a nice day" as he waved me through.

Great memory for this watch.

I’m pretty sure I know dude on the left.

That being said, Saudi Arabia or UAE you can drink. You just have to know where. I’m sure you already know that though and you’re right, the Rolex AD is not the place to get a drink.


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[VictorGMT]

Originally Posted by MrGoat

I’m pretty sure I know dude on the left.

That being said, Saudi Arabia or UAE you can drink. You just have to know where. I’m sure you already know that though and you’re right, the Rolex AD is not the place to get a drink.


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You know T.A.?

Under the new Prince, absolutely. Much tougher back then as I understand it, I think only the US Embassy and the best palaces.

We satisfied ourselves with a Habanos and one or two $45 Appletinis each night after a great dinner!

[Calatrava r]

Cash is nice to use for the small stuff. I prefer not to add all the small 2 to 5 dollars charges on a card. Some places did not even take cards for small purchases. Plus, most places now add 3% if you use the card.

[Batmannr1]

Originally Posted by pickettt

So, in essence, you only use cash to prevent funds from being stolen electronically.

Yep, this weekend in the restaurant after an excellent service slipped the waiter a few notes. He told me that adding an extra amount to the bill, which already included a ‘voluntary’ ‘12% service charge, would go straight into the pocket of the restaurant keeper.

[enjoythemusic]

Originally Posted by Batmannr1

He told me that adding an extra amount to the bill, which already included a ‘voluntary’ ‘12% service charge, would go straight into the pocket of the restaurant keeper.

Am not sure it is legal to automatically include 12% as a 'tip'. Which country is this?

[pickettt]

Originally Posted by Batmannr1

Yep, this weekend in the restaurant after an excellent service slipped the waiter a few notes. He told me that adding an extra amount to the bill, which already included a ‘voluntary’ ‘12% service charge, would go straight into the pocket of the restaurant keeper.

That sets me the f off. Not only stealing from the server, but I feel like it stealing from me too. Now, I have pull hand-to-hands with the servers like I’m a damn drug dealer. We’re not the crooks here.

[travisb]

I've always paid with cash for everything.
My father always did when I was growing up and still does so I think that's just something that was instilled in me from the time I was a kid.

[enjoythemusic]

When you pay in cash, you probably save the retailer 2% to 5%. Cash helps small businesses by reducing unnecessary fees.

[BraveBold]

Originally Posted by enjoythemusic

When you pay in cash, you probably save the retailer 2% to 5%. Cash helps small businesses by reducing unnecessary fees.

For many small businesses someone using cash vs credit is likely a wash overall.

There is a lot of theft for smaller shops, by employees and business partners etc. Cash is easier to mess around with…

Fees and chargebacks… offset by costs elsewhere (and of course the additional burden / incompatibility with automated processes etc).

Re: tips not going to servers, that is not legal. A different issue and one remedied with good lawyers (maybe pro bono)…

[Batmannr1]

Originally Posted by enjoythemusic

Am not sure it is legal to automatically include 12% as a 'tip'. Which country is this?

Brazil, this is quite a common practice in tourist places.
I am not Brazilian but I am a resident here, Brasilian law and customs has a lot of dimensions I do not grasp yet. I guess you could refuse to pay the 12%. But who is gonna make a scene in a classy restaurant.


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[VictorGMT]

Originally Posted by Calatrava r

Some places did not even take cards for small purchases.

I've seen that at small bodega type stores, nowhere else.

Originally Posted by Calatrava r

Plus, most places now add 3% if you use the card.

I might see that once per year. You're seeing it "most" places???

Whew... for all those small cash purchases, an extra minute for the buyer and the seller*... plus delaying anyone in line... hard pass.


*Go to atm, count and straighten cash each time you add or withdraw a bill... seller counting deposit and taking to bank. A minute is probably low.

[enjoythemusic]

True, some small businesses around here add 3% if you use a CC too. That's like adding 3% more inflation to the already high inflation rate.

[pickettt]

Originally Posted by VictorGMT

I've seen that at small bodega type stores, nowhere else.



I might see that once per year. You're seeing it "most" places???

Whew... for all those small cash purchases, an extra minute for the buyer and the seller*... plus delaying anyone in line... hard pass.


*Go to atm, count and straighten cash each time you add or withdraw a bill... seller counting deposit and taking to bank. A minute is probably low.

Whether you’re “seeing” it or not, most likely it’s there. That’s why some small businesses will offer a cash price, while the default price has the transaction fees added in (as expected with any expense.)

[brandrea]

On a related note, large cash deposits are sort of a hassle these days. It was like 50 questions and a strange look from the teller

[Maleg]

Originally Posted by brandrea

On a related note, large cash deposits are sort of a hassle these days. It was like 50 questions and a strange look from the teller

Don't forget the money laundering form.

[brandrea]

Originally Posted by Maleg

Don't forget the money laundering form.

Geepers man ….


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[SDGT3]

Originally Posted by enjoythemusic

Am not sure it is legal to automatically include 12% as a 'tip'. Which country is this?

The country of Miami, Florida, just down the way from you. I've been to MIA a couple times in the past few years and every restaurant had an 18% tip included. Horrible service in about half of the establishments because the server knows they're alreadying getting tipped.

Originally Posted by VictorGMT

I've seen that at small bodega type stores, nowhere else.



I might see that once per year. You're seeing it "most" places???

Whew... for all those small cash purchases, an extra minute for the buyer and the seller*... plus delaying anyone in line... hard pass.


*Go to atm, count and straighten cash each time you add or withdraw a bill... seller counting deposit and taking to bank. A minute is probably low.

I've seen the 3-5% added to bills in about 1 out of every 10 restaurants now.

Originally Posted by brandrea

On a related note, large cash deposits are sort of a hassle these days. It was like 50 questions and a strange look from the teller

crazy, right?

[Maleg]

Originally Posted by SDGT3

The country of Miami, Florida, just down the way from you. I've been to MIA a couple times in the past few years and every restaurant had an 18% tip included. Horrible service in about half of the establishments because the server knows they're alreadying getting tipped.



I've seen the 3-5% added to bills in about 1 out of every 10 restaurants now.



crazy, right?

I see built in tips in Chicago at many of the locally owned restaurants (not so much the big chains). The credit card add on is ubiquitous now.

[Krash]

Originally Posted by brandrea

On a related note, large cash deposits are sort of a hassle these days. It was like 50 questions and a strange look from the teller

It’s because of anti-money laundering laws. All banks must be in compliance.


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[enjoythemusic]

Originally Posted by SDGT3

The country of Miami, Florida, just down the way from you. I've been to MIA a couple times in the past few years and every restaurant had an 18% tip included. Horrible service in about half of the establishments because the server knows they're alreadying getting tipped.

Ugh, oh yeah.... wife and i were there for July 4th... yeah, crap service, attitude, high prices.... but at least the fireworks were nice.


SoBe..............
Don't they realize SoBe was a low-end retirement crapmmuity, you know, like the Columbians scene near the beginning of Scarface when Angel gets it.

But then the developers came in and ruined the place. Lots of my face FL places back in the day are now uppity. Other side of USA, Napa fell victim for it too, gimme the Eagles in early 1970s Napa... Mervins... little book stores.... jmho.

[ArtNouveau]

I’m retired and rarely use cash anymore although I always have $60ish in my wallet. Debit or credit card for almost everything. Weird thing to me is writing checks. I get 10 temporary checks periodically from my bank and that will last me a year or more. Pay my utilities and CC bills online, usually a random small business that prefers a check.

[brandrea]

Originally Posted by Krash

It’s because of anti-money laundering laws. All banks must be in compliance.


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I have no idea what you are inferring




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[enjoythemusic]

Cash money needed....

[Krash]

Originally Posted by brandrea

I have no idea what you are inferring




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And whatever you do, don’t do a Google search on anti-money laundering laws.

Just because I’m paranoid, that doesn’t mean the feds aren’t out there looking for you. Lol





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[brandrea]

Originally Posted by Krash

And whatever you do, don’t do a Google search on anti-money laundering laws.

Just because I’m paranoid, that doesn’t mean the feds aren’t out there looking for you. Lol





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Holy Crap …. Now you tell me


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