refusing to accept cash

My brother said the other day, ever notice
how many minorities use cash only? I had
not, so I started paying attention at Walmart.
Yup, there are always minority people waiting
to use the cash self checkouts and avoiding
the card only ones.

Why is that. If they get gov't checks from state
or fed, it's direct deposit only and has been
for years. That means they have a bank account
and access to a debit card. Why do so many
only have cash and where are they getting it.
I haven't paid cash for at least 10 years.

Quote: Evenbob

My brother said the other day, ever notice
how many minorities use cash only? I had
not, so I started paying attention at Walmart.
Yup, there are always minority people waiting
to use the cash self checkouts and avoiding
the card only ones.

Why is that. If they get gov't checks from state
or fed, it's direct deposit only and has been
for years. That means they have a bank account
and access to a debit card. Why do so many
only have cash and where are they getting it.
I haven't paid cash for at least 10 years.

It is called the “unbanked.” Many are afraid to even enter a bank. Saw some of this. They deal in cash, money orders, and check cashing stores. A subset here is some just don’t know how a bank account works. One Netflix documentary said how some nfl player took his first paycheck to a check cashing outlet. It was for like 40 grand. The owner told him to go to a bank. Yet others probably had an account but bounced checks and got blacklisted. That one is tough to overcome.

Quote: AZDuffman

It is called the “unbanked.”

But if they get any kind of check
now, 90% are paperless and you
must have an account for the direct
deposit. The feds went paperless
5-6 years ago, all gov't checks for
anything, the military, IRS refunds,
welfare, SS, gov't employees, are
100% direct deposit. So are most
places of employment now. It's
cut check fraud down to almost
nothing. Now the 17 year old
can't steal his grandma's SS or
welfare check every month. My
brother is a truck driver and he
hasn't seen a paper paycheck
since the 90's.

https://www.wisewage.org/

Direct deposits for the unbanked .

Quote: Evenbob

But if they get any kind of check
now, 90% are paperless and you
must have an account for the direct
deposit.

It's not their check, that you see them spending.

Quote: Pacomartin

Per capita coins in circulation
335 total Euro coins per capita in circulation as end of 2016
692 total Japanese coins per capita in circulation as end of 2016
443 total Korean coins per capita in circulation as end of 2016 (to become invalid by 2020)
448 total British coins per capita in circulation as end of 2016
421 total Australian coins per capita in circulation as end of 2016

Sweden is at 50 total Swedish coins per capita in circulation as end of Jan 2018

Since they are also down to 20 total Swedish banknotes per capita, they seem to be pursuing the policy that less is better without any of the extreme measures.

Extreme measures are Korea cutting out all coins in three years or Britain considering abandoning the 50 pound banknote completely.

‘No Cash’ Signs Everywhere Has Sweden Worried It's Gone Too Far

Quote: AZDuffman

‘No Cash’ Signs Everywhere Has Sweden Worried It's Gone Too Far

Banks have found that not dealing in cash at the teller has been particularly profitable. While ATMs are far fewer than in the rest of the western world many of them do not accept cash deposits. Businesses often have to drive for tens of miles to make a cash deposit. As a result businesses find it convenient simply to not accept cash.

The whole thing is spiraling much faster than they expected.

Some unexpected curiosities:
(1) Sweden still uses a banknote instead of a coin for the equivalent of 2 €. They are the last country outside of the USA in the first world to have such a low value banknote
(2) Until the last two years Sweden did not have a banknote worth roughly 20€. Obviously this relatively low value "twenty" remains popular in USA, Canada, and UK where people tend to go to the ATM to get five twenties. But the central bank only issued 3 notes of this new denomination per capita. Sweden remains attached to the note worth roughly 50€ for ATM withdrawals. The "fifty" is popular in the EU, Australia and Switzerland.
(3) Sweden called in over half their coins in circulation as they were too physically large. You would think that they might consider just doing away with fractional coins at this point, but they issued roughly 300 million completely new coins with a smaller design
(4) Sweden has issued a minscule number of banknotes worth roughly 100€, roughly one for every three people. You would think it would be easier to simply eliminate the denomination. I think they have a vault full of them in case the experiment goes awry, and they have to go back to cash.

Notes per capita: denomination and equivalent in Euros
5.0 : 20 kr : 2.02 €
1.9 : 50 kr : 5.05 €
2.9 : 100 kr : 10.09 €
2.8 : 200 kr : 20.19 €
6.4 : 500 kr : 50.47 €
0.3 : 1000 kr : 100.95 €
19.4 : TOTAL banknotes per capita

If they simply fix the Swedish krona at 10kr=1€ then they could use Euro notes in a emergency. Since most Swedes go to Germany regularly, presumably most of them keep some Euro banknotes handy. Sweden is a member of the EU, but has stubbornly refused to enter the EMU.

I only read the first page of this so I am sure this is off topic by now but

1) I don't carry more than $20 cash unless I am at a casino, so I get more aggravated when places ONLY take cash.

2) This all reminded me of a news story several years ago about a guy who was arrested at bestbuy for trying to pay with $2 bills:
http://www.wnd.com/2005/04/29732/

Quote: gamerfreak

1) I don't carry more than $20 cash unless I am at a casino, so I get more aggravated when places ONLY take cash.

I hope you keep more than that on hand at home. Even just walking around that is a dangerously low amount to have.