Irish Banks pushing for Cashless Banking?

go to page 20 of this. Claims our ‘addiction’ ro cash transactions costs the state €1bn a year

Off topic, some of this presentation is interesting. The figures for impaired SME loans (page 12) are pretty frightening!


There is a demand for cash for private transactions, so I can only see its use being minimised. Or an alternative implemented (for example: e-gold/e-euros/liberty reserve or pecunix dollars, ie. proprietary currencies).

Also, a certain amount of people simply wouldn’t be able to get their head around the technology involved, so a certain amount of cash would be required. I can’t see retailers surcharging for cash because this would just drive business to their competitors.

Visa Reigns With Silent Tax
The growing use of debit cards has meant big profits for Visa, and there are concerns that the company’s market power has led to unnecessarily high fees to merchants … t-tax.html

Sweden discusses ‘cash ban’ →

The Laser payment system will be dead within 18 months. AIB and BOI will sell it to Mastercard.
PTSB have already started cancelling their Laser cards, and replacing them with VISA debit.

A lot of the lobby ATMs in the US accept cash - i.e. loose bills - they scan and credit to your account immediately; they also scan cheques (checks!) and can credit (pending clearing) though I don’t know the specifics of that .

I’m sure NIB are installing similar hight tech ATMS for the convenience of their valued customers… :unamused:

To be fair you get charged if you use another bank’s ATM though unlike in Ireland

An increase in DIRT seems likely. That would explain PTSBs new fixed term savings account which pays you your full years interest, at the start of the term, rather than the end.

In which case (assuming a fixed transaction charge) all withdrawals will be at the maximum allowed!

Visa is going to replace their Visa debit cards with contactless cards that you wave in front of a reader. (ie RFID). … 03536.html

The same article also mentions that AIB will be the only remaining bank using Laser, as BOI switches to Visa Debit soon.

Note that cashback is not available with Visa Debit, unlike Laser. Plus your purchasing habits matched to your identity will be kept on a database in the USA for the rest of eternity.

Cashback will be available on Visa Debit shortly as they change the fee structure to a fixed charge and away from a % of transaction fee.

Why post this if it’s just not true? I get

Because a retailer declined me cashback with Visa debit, but told me I could have cashback if paying by Laser.

However the main point is that no PIN authorisation will be required for Visa contactless cards. Wave your card over the sensor and any amount the retailer desires can be charged to your account. Spurious and unauthorised charges will occasionally happen to individuals pre-identified as unobservant like the elderly. The user will be required to prove that they didnt buy anything. And as we all know its impossible to prove a negative. Regular skimming theft will be brushed off as a “charging error” like with Eflow.

Its a good system for controlling whole populations, by taking control of their wallets. Uncompliant individuals will be locked out of the money system, as Julian Assange was recently when all his accounts were closed or frozen.

Retailers offered cahback on Visa debit as it was assumed it was a direct replacement for Laser with the same fee structure. When this proved not to be the case many retailers withdrew the cashback facility. This is likely to be restored now that a new fee has been put in place. Any retailers givig cashback on VD were probably ignorant of the fact that it was costing them €1.50 to give a customer €100 of cashback.

Thanks for clearing that up Puck.

We’ve had PayPass here in Aus for a while but they’re only really becoming commonplace in shops now. McDonalds doesn’t use PayPass but no longer requires a pin or signature for transactions under $30, so essentially the same idea.


Aww ffs.