Irish Banks pushing for Cashless Banking?


Actually, Musgrave’s point does make sense.
If it costs 60c to process €100 in cash sales, but only 20c to process €100 of card sales that’s a 40c per €100 saving.

Assume 25% of Musgrave’s €4.8bn in sales represent cash transactions, that’s a potential €4.8m saving to them on potential bank fees.


It costs much more than 20c (or 60c) to process €100 of card sales. The numbers were outlined above.

The real cost to a (large) retailer of handling cash is paying someone to take it to the bank or paying for Securicor collection. Then there is employee theft exposure. It’s not eliminated by card payments but it becomes significantly more difficult.


Ive been business customer for most of last 10 years with BOI and always complain to them at the account reviews every few years when they try to sell you products from them you do not need. They only now are finally getting around to making a semi descent online banking site for businesses, tho its still sucks, I many times jokingly offered them to make something better. Hell my gmail account has more security options than this bank :frowning:

Tho’ it is better than AIB who were anything but supportive when we were starting off before the big bubble, hell those imbeciles looked at us like we fell from them moon when we requested a credit card and/or a dollar account be able to pay foreign suppliers. I am not sure if it is the whole bank or just that branch, I sincerely hope those imbeciles involved back then are out of a job now.

Anyways from reddit today :slight_smile:


I posted a number of times recently about personally directed negative comments not being tolerated. They won’t be. Please take note.


I fear not for the balance sheet of the Musgrave in a Constitutional Republic. 8)


Per Andy’s comments and our line in step with the UK if BOI was defacto all-o, is he UKz-o calling for no more cash-o?


I think that only very small retailers would prefer cash. Cash is so likely to be subject to “leakage” in bigger businesses. Cards much preferred. Firstly, it’s faster. Credits are next day or Monday am compared to a few collections via a van each week while the money sits at risk in a safe.

The card environment is pretty competitive. Costs are negligible compared to the benefits.


Will Ireland have to introduce food stamps? If the country goes cashless how can beggars on the street operate? Will they adapt to NFC payments?


Food stamps have been replaced with electronic payment cards in most places. Great idea; it means the money can’t be spent on fags and booze.


I don’t believe it’s right to dictate what another human, without dependents, can purchase in a grocery store. It just seems like another step towards dehumanizing people in need, i.e., you’re not allowed to buy stuff that I buy.


Yeah I know it’s not a very progressive attitude of mine. But I do think that if you’re using my money to buy stuff I should have a say in what you buy.


So if I pay more tax than you I can dictate how you spend your money? Is that how it works?


The phrase “beggars can’t be choosers” springs to mind, after all, many of these people are effectively begging off the state.
I’m referring to who have never worked and have no real intention of ever working, not those who have had jobs but can no longer work.


If everybody is allowed boy cigs and alcoholthen in the short term social welfare is easie to finance and it keeps the angry mobfrom revolting.


Yes I know, anyway, they’d probably trade food for fags & booze if they needed to.


Some would, but it does make it harder.


For anyone pushing cashless banking should read this >
an article regarding US where cards are alot more prevailent


Almost everyone else apart from me seems to use their debit/atm card to pay for stuff in Germany.


That’s interesting. The Germans I’ve known in Ireland were addicted to cash; in big, thick wodges if necessary. They’d sometimes use debit cards on the high street, mostly for four figure sums and also for internet purchases, but otherwise, it was paper all the way.

They certainly used credit cards as little as possible.

I’d say CCs are good for remote purchases, because they come with a higher default level of insurance, compared with debit cards. For big purchases online, I’ll always use a credit card for that reason, as well as to manage cashflow sometimes. For the former reason, it means that if I see a suspicious transaction (which I haven’t had yet, fortunately, apart from a couple of fishy null transactions that the bank caught before they even cleared), it gives me two to six weeks to chase it up and cancel or reverse it before I lose any real money. As for the latter, my CC is paid off by direct debit, so it’s effectively just a debit card with a long clearance time, which allows me time to make transfers to my current account when necessary.
I don’t even know what its interest rate is.


An online german-based platform is offering european-wide term deposits. It is due to open to Irish residents soon with a €25 introductory offer. Interestingly AIB is one of the banks included. … -1.2501376