Seems to be back. Stopped at Tim’s for lunch as it’s on the way home from the post office. Paid with a bill and some coins. The cashier commented how glad she was to see coins, commented that their bank would only let them buy one roll of quarters this morning. The people at Tim’s have commented several times in the last couple months about the trouble they are having getting coins.
So, with tongue firmly in cheek, I suggested it’s a big conspiracy by the banks to make it impossible to do cash transactions, to force people to use credit cards on even trivial purchases, so the banks take a cut of a greater portion of retail sales.
…but is my conspiracy theory completely wrong?
I dropped driver’s license and car registration renewals in the mail today, with a paper check, because the state charges a transaction fee for using their web site and paying with a credit card, but they don’t disclose up front how much the fee is.
Steve
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Steve, I don’t know about your state but I can save the cost of a stamp and avoid the processing fee for using a credit card while paying my vehicle registration online by using the “e check” option.
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while paying my vehicle registration online by using the “e check” option.
That does not appear to be an option here. No mention of it in the mailing from the Secretary of State. Offered options: web site with CC and processing fee, mail by check, kiosk at the SoS office with a CC and processing fee, or go to the SoS office and wait for a clerk to pay cash or check.
If they would state how much the CC processing fee is, then I could see if it was more or less than a stamp, but they don’t.
In past years, I have gone to the SoS office, which is only a couple miles away, to pay by check without a stamp. Didn’t feel like doing that this time.
Steve
So, with tongue firmly in cheek, I suggested it’s a big conspiracy by the banks to make it impossible to do cash transactions, to force people to use credit cards on even trivial purchases, so the banks take a cut of a greater portion of retail sales.
What immediately popped into my head after reading this was something to the effect of “Amazon will now let people pay for their purchases on a monthly bill to be auto-drafted directly from their checking account”. Bypass VISA/MC directly. Or maybe just draft from checking at time of check-out. though I imagine nobody gets a better deal on rates that Amazon does.
Or maybe just draft from checking at time of check-out.
That is called a debit card transaction (far less cost than a credit card to the seller).