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Debit Card Spending In Uk Overtakes Cash For First Time

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http://www.bbc.co.uk/news/business-11901953

For the first time, UK consumers have spent more using their debit cards than with cash over the course of a year, data suggests.

Spending on debit cards reached £272bn in the 12 months to October, figures from the UK Payments Council show.

The statistics, released every three months, showed spending on cash stood at £269bn over the same period.

Credit card usage remained steady but there was a further decline in the number of cheques written.

August Bank Holiday spending on plastic meant debit cards overtook cash for the first time, the Council said.

"Cash is too cumbersome for many consumers these days - they prefer a card for anything more than the smallest transactions," said Sandra Quinn, of the Payments Council.

"We now expect our debit cards to be accepted everywhere we go - in pubs and clubs, at the corner shop, online and on the High Street."

One for Injin, printing isn't a problem when it's all electronic.

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"Cash is too cumbersome for many consumers these days - they prefer a card for anything more than the smallest transactions," said Sandra Quinn, of the Payments Council.

"We now expect our debit cards to be accepted everywhere we go - in pubs and clubs, at the corner shop, online and on the High Street."

Nudge nudge.

Just wait until this 'free bankstering' comes to an end and you have no alternative.

"We know where you live, we know what you bought, we know where you bought it and we know when you bought it. Oh by the way, we're going to charge you for buying it too, sorry!"

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Yes, the ever tightening grip of rent-a-currency. (I got a touch of the erics there)

The commercial issuer-lenders of our electronic debt-based means of exchange continue to gain ground from publicly issued, debt-free physical cash.

It is high time we had the 21st century equivalent of the 1844 Bank Charter Act.

There is no fundamental reason not to have debt-free, publicly issued, electronic money.

It would save us money users a fortune in interest charges - all of the convenience without the cost.

http://www.positivemoney.org.uk/

http://www.bankofenglandact.co.uk/

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Yes, the ever tightening grip of rent-a-currency. (I got a touch of the erics there)

The commercial issuer-lenders of our electronic debt-based means of exchange continue to gain ground from publicly issued, debt-free physical cash.

It is high time we had the 21st century equivalent of the 1844 Bank Charter Act.

There is no fundamental reason not to have debt-free, publicly issued, electronic money.

It would save us money users a fortune in interest charges - all of the convenience without the cost.

http://www.positivemoney.org.uk/

http://www.bankofenglandact.co.uk/

A worrying development, I wish to maintain the option of not having my every transaction and movement traced by these fraudsters.

Fortunately there is a way to fight their death grip, and it's yellow and historically underpriced, thanks to the fraudsters themselves. You can exchange cash or electronic digits on a card to purchase it and it safeguards your savings against the theft of negative real interest rates, bank collapse and feckless government. :D

Edited by General Congreve

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Soon the cheque book will be a thing of the past...how long before having to store all your money electronically will become compulsory...all transactions to be monitored but also having to pay for the service......maybe one day gold/silver might come in handy. ;)

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There's a whole economy which the UK Payments Council isn't privy to where cash money is the only currency ;)

It won't be long surely. "I will appear on your bill as Good Times Ltd".

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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