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 Post subject: Irish Banks pushing for Cashless Banking?
PostPosted: Tue Dec 22, 2009 11:37 pm 
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Could this be the thin end of the wedge?

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National Irish moves to cashless banking

IT MIGHT sound like a contradiction in terms, but for the first time one of the main Irish consumer banks is moving to cashless banking in all its branches.

National Irish Bank has written to thousands of its customers this month informing them of a “new style of banking” in which branches will not handle over-the-counter cash transactions.

The letter says branches will no longer handle cash withdrawals and lodgements, night safe lodgements and foreign currency cash. Branches will continue to lodge cheques, drafts and postal orders and issue drafts.

Customers are advised to obtain cash from “ATMs nationwide” or to seek “cash-back” on their debit cards.

http://www.irishtimes.com/newspaper/ire ... 08475.html

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 Post subject: Re: Irish Banks pushing for Cashless Banking?
PostPosted: Wed Dec 23, 2009 12:03 am 
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I think all the banks plan on getting rid of cheques (and bank drafts?) entirely by 2012. There do seem to be moves afoot to eliminate actual cash completely over the next few years. A pure fiat currency based on nothing physical whatsoever is going to be....interesting.

Doubtless the psychopaths in charge think that this means every transaction and every movement of the populace will be tracked by them. Equally certain is that within a week some form of unofficial agreed medium of exchange will have been adopted by the populace - like cigarettes in all those old prison movies.

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 Post subject: Re: Irish Banks pushing for Cashless Banking?
PostPosted: Wed Dec 23, 2009 12:07 am 
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A couple of years ago, I predicted cash would be abolished by 2015.

The next step is to allow everyone to make person to person payments by mobile phone. Then they'll be able to phase out cash.

What are the drug dealers going to do? Ask for payment in gold? A cashless society will be very bullish for gold prices.


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 Post subject: Re: Irish Banks pushing for Cashless Banking?
PostPosted: Wed Dec 23, 2009 12:16 am 
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Irish Banks Pushing for Cashless Banking..

and with FFs help they have more or less achieved this for alot of their customers, hands up all the people who are a bit 'cash less' cos of the bankers corruption and ineptitude... I know I am. :P

They are doing away with the cheque in the UK by 2018
http://www.guardian.co.uk/commentisfree/2009/dec/16/fond-farewell-cheque
are PayPal listed ?

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 Post subject: Re: Irish Banks pushing for Cashless Banking?
PostPosted: Wed Dec 23, 2009 12:21 am 
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Paypal is owned by eBay, one of their better investments.

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 Post subject: Re: Irish Banks pushing for Cashless Banking?
PostPosted: Wed Dec 23, 2009 12:35 am 
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McDonalds encourage people to use card, with chip and pin and cards that only require validation for one in ten transactions it is as quick for vendors to process cards as cash. It is also a lot more secure and requires less end of day and back office processing. If you look at microfinance in developing countries, the realisation that 'everyone' has a mobile phone make it the defacto tool of choice for paying for stuff or transferring from person to person. The main banks may push to ditch cash soon but that gap will be filled by new entrants to the banking market such as Tesco. A supermarket has the technology to deal with cash / cards / cheques etc. at every checkout so they will happily fill that gap for a while. Interesting times ahead with the benefits and risks of more service providers.


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 Post subject: Re: Irish Banks pushing for Cashless Banking?
PostPosted: Wed Dec 23, 2009 1:03 am 
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I predict mattress sales skyrocketing. People will find their old mattresses a lot less comfortable without them being stuffed full of fifty euro notes.

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 Post subject: Re: Irish Banks pushing for Cashless Banking?
PostPosted: Wed Dec 23, 2009 2:14 am 
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LynchNeary wrote:

The next step is to allow everyone to make person to person payments by mobile phone. Then they'll be able to phase out cash.



From speaking with a business owner in Tuam I believe this is already possible and due to go live next year if all goes to plan - albeit on small scale.

http://www.zapatag.ie/zapa-latest-news.html

I was told cash can be credited to peoples cards which are attached to their phones. This can then be used to pay for products or services around the town and 'cash' can also be transferred between peoples cards.

It's proving popular so far as a loyalty scheme, be interesting to see if it goes further.


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 Post subject: Re: Irish Banks pushing for Cashless Banking?
PostPosted: Wed Dec 23, 2009 2:27 am 
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I always thought that the real issue was moneyless banks!

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 Post subject: Re: Irish Banks pushing for Cashless Banking?
PostPosted: Wed Dec 23, 2009 5:26 am 
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delete

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 Post subject: Re: Irish Banks pushing for Cashless Banking?
PostPosted: Wed Dec 23, 2009 11:29 am 
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Cashless Banking...
lets take it one step further , do away with banks alltogether... might save the planet too while we're at it
Quote:
Economic localisation is considered to be a key aspect of the transition process, and local currency systems provide the opportunity to strengthen the local economy whilst preventing money from leaking out.

http://totnes.transitionnetwork.org/totnespound/home

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 Post subject: Re: Irish Banks pushing for Cashless Banking?
PostPosted: Wed Dec 23, 2009 1:18 pm 
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Can't see it happening, to many old people would be put off by it.

NIB aren't the first to go cashless First active did it - I closed me my accound after I need access to funs but they were't able to give me anything that would clear that day, go a "Bank draft" which turned out be be a Bank of Ireland check.

If we were to go cash less every EU country would need to do it. Image arriving here as a tourist with cash you can't spend ?


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 Post subject: Re: Irish Banks pushing for Cashless Banking?
PostPosted: Wed Dec 23, 2009 3:34 pm 
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LynchNeary wrote:
A couple of years ago, I predicted cash would be abolished by 2015.

The next step is to allow everyone to make person to person payments by mobile phone. Then they'll be able to phase out cash.

What are the drug dealers going to do? Ask for payment in gold? A cashless society will be very bullish for gold prices.


Bill Gates predicted in 1995 that cash would no longer exist in 20 years. I was trying to picture homeless people on the street asking you to transfer some money to their electronic wallet.


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 Post subject: Re: Irish Banks pushing for Cashless Banking?
PostPosted: Wed Dec 23, 2009 3:38 pm 
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Hardly surprising, sure these fuckers have less cash on hand than I do . (E22.30)


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 Post subject: Re: Irish Banks pushing for Cashless Banking?
PostPosted: Wed Dec 23, 2009 10:31 pm 
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Time to get more LETS (Local Exchange Trading System) in place. Here's the design manual.. Has anyone here any firsthand experience of it?


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