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Thread: Why must pay cash

  1. #1
    Member lotus80's Avatar
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    Default Why must pay cash

    Some Funan shops ask for hard cash, not even NETS. Why ? Money going in bank account anyway or it's not accounted ?

    Why pay surcharge on credit card purchases when bank don't charge surcharge ?

  2. #2

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    Quote Originally Posted by lotus80
    Some Funan shops ask for hard cash, not even NETS. Why ? Money going in bank account anyway or it's not accounted ?

    Why pay surcharge on credit card purchases when bank don't charge surcharge ?
    Payment via nets or credit cards will result in merchants incurring additional charges imposed by nets or credit card companies.

    U can pay by nets or credit card of course, if they have the facility. But cash will give u the best price.

  3. #3

    Default Re: Why must pay cash

    I was reading that transaction charges for NETS can be up to 1.8% e.g. $18 for $1000. Anyway, cash ( notes & coins ) is legal tender.

    For credit card, money has to be made somewhere, if it is not from you, it should be from the other.

  4. #4

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    Quote Originally Posted by lotus80
    Some Funan shops ask for hard cash, not even NETS. Why ? Money going in bank account anyway or it's not accounted ?

    Why pay surcharge on credit card purchases when bank don't charge surcharge ?
    There's a fee that needs to be paid if nets or credit cards are used. It's natural that the retailers do not want to pay these charges. That's why cash will still give you best price. It's not only in funan, it's the some in other shops too. Also, shops in other countries will also quote you a lower price if you pay by cash instead of CC.

  5. #5
    Senior Member Big Kahuna's Avatar
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    Spot on, while we developed with technologies and infrastructures, our living std actually gone backward as a lot of facilities are out of reach to most due to cost....common folks with small income are subsidising those big earner whom enjoying oligopoly, just not long ago read the CEO of a major Telco got pay increased of 400+k....not to mention her already fat pay cheque and shares options.....that was easily a lifetime earning for someone who made 2k per mth...do u think it's right for them to pay more when they just want to embrace cashless society?

    A simple 4 yearly once world cup and Olympic program suppose to promote the beautiful game and reach out to the mass but again some org and large corp decided to milk to the last droo from general public, at the end only the rich get to see the live telecast and the poor continued to cover work duties in some 24x7 establishment.....that's what they are promoting....well done.

  6. #6

    Default Re: Why must pay cash

    In most cases. Cash is king.

  7. #7
    Senior Member Sion's Avatar
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    Default Re: Why must pay cash

    Quote Originally Posted by TWmilkteaTW View Post
    In most cases. Cash is king.
    When a man arrives at the Gate of Hell he has to be sure to carry cash for entrance fees.

    If paid by credit card the Gate Keeper will charge surcharge.

    Also he must remember to apply for Hell Express credit card if he wants to used it in the other world.

    But can also pay online through Hellgate.com with Payhell.

    Last edited by Sion; 25th August 2012 at 07:50 PM.

  8. #8

    Default Re: Why must pay cash

    Cash so that the taxman can't see!
    It is the camera, not the photographer.
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  9. #9

    Default Re: Why must pay cash

    Quote Originally Posted by adamadam View Post
    Cash so that the taxman can't see!
    This is the one of the two real reasons; The other being cash flow.
    For nets and credit card transaction, accumulated payout (after fee deduction) from these vendors occur one/ twice a month.

  10. #10

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    Cash card is still cash I think.
    | 5Diii | 24 ii | 40 | 24-70 ii | 24-105 | 70-200 F4 IS | 270 ii | 600EX-RT |

  11. #11

    Default Re: Why must pay cash

    same reason taxi drivers don't like nets. they want cold hard cash in hand for cash flow.

  12. #12
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    Default Re: Why must pay cash

    This is a sign of impending commercial doom.

    Economy is down.
    Shops have disputes within its partners and directors.
    So they want cash because the person at the cash register can physically take that cash money.
    If the payment goes to the company account, then they have to legally fight over that money. There may be injunctions.

    There may be a legal process known as Garnishee Order.

    If the shop is already in very serious financial trouble, the creditor/s can apply to the Court to serve a Garnishee Order.
    So if money is supposed to be paid into the shop's account, the partners or directors or owners will never get to take that money. It goes to the creditors.

    That is why some may prefer you pay them cash. Which they take back straight away.

  13. #13
    Senior Member edutilos-'s Avatar
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    Quote Originally Posted by ricohflex
    This is a sign of impending commercial doom.

    Economy is down.
    Shops have disputes within its partners and directors.
    So they want cash because the person at the cash register can physically take that cash money.
    If the payment goes to the company account, then they have to legally fight over that money. There may be injunctions.

    There may be a legal process known as Garnishee Order.

    If the shop is already in very serious financial trouble, the creditor/s can apply to the Court to serve a Garnishee Order.
    So if money is supposed to be paid into the shop's account, the partners or directors or owners will never get to take that money. It goes to the creditors.

    That is why some may prefer you pay them cash. Which they take back straight away.
    Cool, but as far as I know shops have preferred cash since 2006. So not sure what you are singing about here, this aspect remains constant through the yrs but signals doom today?

  14. #14
    Moderator nitewalk's Avatar
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    Quote Originally Posted by cks2k2
    same reason taxi drivers don't like nets. they want cold hard cash in hand for cash flow.
    They get the money from company three days later. Plus they don't even earn from the surcharge imposed on NeTS transactions.

  15. #15
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    Default Re: Why must pay cash

    Quote Originally Posted by edutilos- View Post
    Cool, but as far as I know shops have preferred cash since 2006. So not sure what you are singing about here, this aspect remains constant through the yrs but signals doom today?
    For those specific shops only. Not for the whole nation. Some shops fail for a variety of reasons e.g. mismanagement or major financial backer pulling out or internal strife.

    If the economy is buoyant and people spend freely to buy stuff, most shops do well and you generally may see less of such individual shop failures.

    Everybody prefers cash at all times. But TS is suggesting the shops are not even accepting Nets.
    Last edited by ricohflex; 26th August 2012 at 09:56 AM.

  16. #16
    Senior Member Sion's Avatar
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    Default Re: Why must pay cash

    Quote Originally Posted by ricohflex View Post
    This is a sign of impending commercial doom.
    If this is happening in one of the world's strongest and best economy - Singapore, it is a clear sign of the coming of the doomsday.

    I say pay everything with credit cards and borrow from banks. When the doomsday arrives we don't have to pay anyone back.

    Last edited by Sion; 26th August 2012 at 10:30 AM.

  17. #17
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    Default Re: Why must pay cash

    Some shops in Funan still consider small size and so, they cant afford to have nets if hardly anyone using it. Unless you talking abt camera shops over there, I then start to wonder why, haha!
    Only Sony device mostly, haha!

  18. #18
    Senior Member edutilos-'s Avatar
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    Quote Originally Posted by ricohflex


    Everybody prefers cash at all times. But TS is suggesting the shops are not even accepting Nets.
    I don't think so leh. Maybe you can reread? He mentions a surcharge on credit cards. Maybe TS can clarify. Anyways certain establishments don't accept nets or card cos they don't have the facility I guess. But most places no problem so far.

  19. #19

    Default Re: Why must pay cash

    MS Color only accepts cash for e-quote.

  20. #20
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    Default Re: Why must pay cash

    Quote Originally Posted by edutilos- View Post
    I don't think so leh. Maybe you can reread? He mentions a surcharge on credit cards. Maybe TS can clarify. Anyways certain establishments don't accept nets or card cos they don't have the facility I guess. But most places no problem so far.
    Maybe you can read his thread title.

    "Why must pay cash"
    Last edited by ricohflex; 26th August 2012 at 05:15 PM.

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