Why must pay cash


lotus80

New Member
Apr 9, 2012
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#1
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 ?
 

trd2970

Senior Member
Jun 8, 2005
5,310
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#2
lotus80 said:
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.
 

kklee

New Member
Aug 13, 2004
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#3
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.
 

spree86

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Feb 3, 2009
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#4
lotus80 said:
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.
 

Big Kahuna

Senior Member
Dec 15, 2004
2,126
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#5
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.
 

#7
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.

:bsmilie:
 

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tefalv2

Deregistered
Jun 7, 2012
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#9
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.
 

cks2k2

New Member
Feb 12, 2009
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#11
same reason taxi drivers don't like nets. they want cold hard cash in hand for cash flow.
 

ricohflex

Senior Member
Feb 24, 2005
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#12
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.
 

edutilos-

Senior Member
Dec 28, 2010
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#13
ricohflex said:
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?
 

nitewalk

Moderator
Staff member
May 31, 2010
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#14
cks2k2 said:
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.
 

ricohflex

Senior Member
Feb 24, 2005
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#15
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.
 

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#16
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. :)

 

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BBTM

Senior Member
Nov 23, 2004
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#17
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!
 

edutilos-

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Dec 28, 2010
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#18
ricohflex said:
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. :)
 

cks2k2

New Member
Feb 12, 2009
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#19
MS Color only accepts cash for e-quote.
 

ricohflex

Senior Member
Feb 24, 2005
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#20
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"
 

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