05/08/2025
💥💥 PLEASE TAKE A MINUTE TO READ 😘💥💥
Why do I ask you to pay cash or use a bank transfer system as much as possible instead of a card ?
- I have £50 in value of banknotes in my purse. Going to a restaurant and paying for dinner with it.
The restaurant owner then uses the notes to pay for the laundry.
The laundry owner then uses the notes to pay the barber.
The barber will then use the notes to pay for shopping.
After an unlimited number of payments, it will still remain a £50 value, which has fulfilled its purpose to everyone who used it for payment and the bank has jumped dry from every cash payment transaction made.
BUT
IF I go to a restaurant and pay digitally via Card,
- the bank fees for my payment transaction charged to the seller are 3%, so around £1.50
( and so will be the fee of £1.50 for each further payment transaction )
-for the owner re laundry or
- payments of the owner of the laundry shop,
- or payments of the barber etc.....
Therefore, after 30 transactions, the initial £50 will exist at only £5, and the remaining £45 has become the property of the bank … thanks to all of the digital transactions and fees!
So, if everyone paid £3 for their coffee by cash instead of card I would get the full £3 and not have to pay £1.50 to the card machine merchant and lose half of my money, this way I would be able to keep my costs down as much as possible so that the prices stay fair for my customers.
PLEASE USE CASH WHERE POSSIBLE, FOR SMALL BUSINESSES ( like mine ) IT CAN BE THE DIFFERENCE BETWEEN SURVIVAL OR CLOSURE.
