I'm going to pay even more in cash. Never thought about it that way but read below. Then you think wow a lot!!!

I'm going to pay even more in cash. Never thought about it that way but read below. Then you think wow a lot!!!
Also be aware and start paying more in cash again
Why we should pay with cash everywhere instead of a debit card?
I have a €50 note in my pocket and take it to a restaurant and use it to pay for my dinner.
The restaurant owner uses it
€50 to pay his bill at the laundromat.
The laundromat owner pays for his haircut at his hairdresser.
The hairdresser uses this € 50 to pay in the supermarket.
After an unlimited number of payments, the value of my €50 note still remains the same, that means it has fulfilled its purpose for everyone who has used it as a means of payment and
the bank has no work or interference in every cash payment transaction carried out.
BUT WHAT
IF I go to a restaurant now and pay digitally with my bank card,
The costs for my digital payment that are charged to the restaurant owner, including transaction costs in percentages, is on average 2.5%, which then comes down to
€1.25 for each further payment transaction.
(This means that each subsequent payment transaction costs €1.25)
the same costs are applied if the restaurant owner pays his bill at the laundromat digitally,
the payments of the laundromat owner at the hairdresser,
This also applies to the following payments, etc.....
Therefore, after the first 36 transactions of this €50, only €5 will remain and the remainder of €45 has become the property of the bank ...
thanks to all the digital transactions and fees!
In addition, the cost of a debit card is on average €2.25 per month, so after a month of saving, your €50 is only worth €47.75.
Gone is gone, you can only spend it once. So you're filling the bank, banks are getting bigger and more powerful. And if things go wrong, the bank can block your account for various reasons...
Cash is and will (hopefully) remain King!







