Where Do You Get Cash? I’m confused...

[Sunset]

.....
DW and I usually use a nearby ATM to take out $40/week each for “allowance” to buy all sorts of small incidental purchases (lunch, snacks, 1-2 items at grocery, etc.).
.....https://www.early-retirement.org/forums/f27/is-paper-really-that-expensive-102307.html

Why would you got to the ATM weekly instead of just taking out $400, and go every 10 weeks. Saves effort, time, and gas.

 

[athena53]

I have my checking account with Fidelity so ATM fees are refunded. I get $200 every 2-3 months. I use it for very small purchases (under $5) and for tips for the hotel maids when I travel. The local plumber gives a discount for "cash" but he'll take it in the form of a check.

One oddity in my neck of the woods is that if I make an ATM withdrawal of $200 I get 5 20s and a $100 bill. I hate that. Fortunately one ATM is in a bank branch at a grocery store I use- I just go over to the teller and ask for change.

 

[scrabbler1]

One oddity in my neck of the woods is that if I make an ATM withdrawal of $200 I get 5 20s and a $100 bill. I hate that. Fortunately one ATM is in a bank branch at a grocery store I use- I just go over to the teller and ask for change.

Same here. Once in a while, I have gotten cash from an ATM (in a bank) I do not usually visit. It gives me larger bills (50s or 100s) which I don't want to carry around because many stores don't accept them. Thankfully, I went to it during regular business hours so I was able to exchange it for smaller bills, 10s and 20s.

As I wrote in another post (in this thread, I forget!), since 2018 I have used only tellers to get cash because I am doing a split deposit on a monthly check I get and want 10s and 20s, so it means a visit to my local bank.

 

[target2019]

Withdraw $50 several times?

 

[Winemaker]

I have 4 tenants out of 8 that pay in cash; I don't know why. Three have decent paying long term jobs that they direct deposit into bank accounts. I know, because they must bring check stubs when qualifying, and I photo each one. I text them a receipt for amount paid. I have never had this many pay in cash in 20 years. Anyhoo, prior to that DW would just get $20 back from the grocery store. Now we just keep about $300 around that may last for weeks, or if we travel, it will last less. We usually pay everything by CC to get points, but cash payments to local businesses that our friends own, or tips to hotel, or VRBO maids, etc.
But monthly $2600 in received cash rents goes to the bank.

 

[Midpack]

Why would you got to the ATM weekly instead of just taking out $400, and go every 10 weeks. Saves effort, time, and gas.

We’re out several times a week, we never make a trip just to an ATM so effort, time and gas aren’t significant. But going less often has occurred to me reading this thread. We may just do that!

 

[rk911]

a few years before i retired we switched from paper paychecks to direct deposit. one employee refused and demanded a paper paycheck claiming he did not have or want a bank account. he said he cashed his bi-weekly check at a currency exchange and then bought money orders to pay his bills.

(we refused to issue a single paper check...he opened a bank account).

 

[Sunset]

a few years before i retired we switched from paper paychecks to direct deposit. one employee refused and demanded a paper paycheck claiming he did not have or want a bank account. he said he cashed his bi-weekly check at a currency exchange and then bought money orders to pay his bills.

(we refused to issue a single paper check...he opened a bank account).

You probably saved him a lot of money from the fees a currency exchange and MO's cost him.

 

[target2019]

I use an ATM. But its use is declining. I use a separate card for the small purchases. In my case it's Discover CC.

Target, this may be thread hijacking, but why do you divide up your credit card use in this way? (i.e. one for small purchases, one for ....) I'm asking because I've tried various ways of using my cards differently but haven't found any that make consistent long-term sense. I've tried evaluating rewards, but that seems complicated and shifting (my Chase Amazon Prime card just gave me 3 months of 2% back, ending February 29. I just put a larger purchase on it, ahead of schedule, so it did benefit Chase!

Pellice, good question.

It started with using an (1) Amex Business Platinum card solely for things purchased for my consulting business. I get 5% back on communications, office supply stores, and so on.

Then found the (2) Penfed Cash Rewards card mentioned on this or Bogleheads forum. That delivers 5% off all gasoline purchases.

Next up, (3) HomeDepot and (4) Lowes cards, used for home improvement, etc. These store cards have advantages, like discount on a purchase, or extended 0% period.

Discover Card is used for entertainment and discretionary purposes. These tend to be smaller purchases. I've noticed I carry less cash over time because of this.

 

[Kwirk]

Just got the Costco CC cash rewards coupon email and it is substantial! Well, I already knew the amount, but forgot and I think we already have lots of cash at home.

+1

Now I have to think about getting rid of that cash. I still have a lot left over from last year. I'll have to make a trip to the bank to deposit a lot and trade a couple hundred for small bills.

We only seem to use $1 and $5 for occasional tips when the credit card isn't an option.

 

[Midpack]

I use a credit card or Apple Pay for everything over $15, and some things under. But there are still times cash is easier for all concerned.

At the bar at The Bowery Ballroom (the one in the basement, not the one by the stage or the one up on the balcony), a person asked the bartender if there is a card minimum. “No, but that’s why we are so backed up. Everyone is paying with their card,” the bartender says. Someone behind me asked if the band is on yet. No one answered.

At the intersection of Spring Street and Crosby Street, I overheard a man who was wearing pre-Alessandro Michele Gucci Horsebit Loafers. He was talking to his friend, who was not wearing pre-Alessandro Michele Gucci Horsebit Loafers, and said, “I fear the day homeless people start accepting credit cards.” The two men went into Balthazar and probably ordered the seafood tower and probably have Raya profiles and probably didn’t delete their Uber accounts.

I carry cash. You should, too. And not just because it’s good manners, but because there is a particular kind of entitlement about choosing not to. A presumptuousness. I carry $100. Five twenties. Have it: to split the bill after dinner. Have it: to tip your barber, your barista, your delivery person. (You can't beat cash for that.) Have it: for emergency situations. Have it: for small purchases. Have it: because cash is untraceable and not all drug dealers take Venmo.

It might have been that Square was down, or their iPad wasn’t working, or the Wi-Fi was acting up, but one morning at Happy Bones, a coffee shop on Broome street, they couldn't take credit card. They gave the guy in front of me his almond milk cortado for free. He didn’t have cash to pay for it, but he also couldn’t tip them for the nice gesture. It came in handy to have cash then.

https://www.gq.com/story/carry-cash

 

[2017ish]

As others have answered, we use little cash in the US--probably 2-400 every month or so, no really sure (and yes, from an ATM either BOA, or reimbursed by them).

But we do our own travel planning (i.e., no tours or all-inclusives) and having cash in many countries is mandatory. Thus, we used ATMs fairly often in Rwanda, Kenya, Peru, Argentina, and Chile. The latter two were pricey for Fidelity, as the typical fee was $10 US! Some restaurants and even gas stations sometimes are cash only with no close competitors to drive too.

 

[MrsHaloFIRE]

I carry some cash, more at some times than others, but always some. SOmetimes I need to throw in on a group gift with my friends. Sometimes I owe someone for covering movie or play tix. Tipping delivery ppl and maintenance people is on point. Ive also been in a grocery store where the credit terminals were down but I was having that bottle of Maalox and bananas and getting out of there. Waving my cash right to the front of the line. I agree with the article that its just polite and practical to do so. I recall waving cash at a hotel shuttle driver to take me to a DIFFERENT hotel from the airport bc my flight has been cancelled and I was ready to get to my airline sponsored hotel PRONTO. Other folks waiting on the sidewalk couldn't come up with the funds. THey even asked me where the ATM was. I have no idea where the ATM is, I carry cash. I didn't have to make a special ATM sprint. HOliday Inn boy had no time for that.

 

[Squirrel]

And, for those still working, cash for the birthday-retirement-baby office envelopes.

 

[38Chevy454]

I usually get it at the bank teller, but sometimes the ATM. Get $200-300 at a time when I need it. No set schedule. May also have an occasional check to cash and just do that for spending cash as well. Almost always pay tips in cash, and put the meal on card. Use card for almost all of our expenses: groceries, gas, household, clothing, auto parts and supplies, house needs, etc. I could use more cash easy enough, but the Costco cash back reward is incentive to use the card.

 

[CindyBlue]

Then there are the folks who can't remember their pin, or zip code, or just have fumble fingers and takes them three or four tries to complete the transaction. Each time the cashier has to re-initialize the transaction.
Just a few days ago I walked out of a store behind such a comedy routine, leaving the merchandise on the cashier's counter. I was followed out the door by three other customers in the same manner.

I use cash (from ATM) for all under $20 transactions. Won't feed the tracking trolls of where and when I have coffee or ice cream or KitKat etc.

Besides it is cheap entertainment giving the cashier pennies, and them trying to figure out change when the register is not working.
Darn kids can't do arithmetic, even using their fingers and toes.

+1

 

[audreyh1]

What? Carrying cash is good manners? Not carrying cash is entitlement? Wow - amazing the opinions people assert.

I carry cash. You should, too. And not just because it’s good manners, but because there is a particular kind of entitlement about choosing not to. A presumptuousness.

If someone runs into a situation where cash is the only option, they can go find as ATM.

I actually do carry cash. I just rarely spend it. It sits undisturbed in my wallet for long periods on time.

Just because someone spends very little cash doesn’t mean they don’t carry some minimal amount.

 

[audreyh1]

As others have answered, we use little cash in the US--probably 2-400 every month or so, no really sure (and yes, from an ATM either BOA, or reimbursed by them).

But we do our own travel planning (i.e., no tours or all-inclusives) and having cash in many countries is mandatory. Thus, we used ATMs fairly often in Rwanda, Kenya, Peru, Argentina, and Chile. The latter two were pricey for Fidelity, as the typical fee was $10 US! Some restaurants and even gas stations sometimes are cash only with no close competitors to drive too.

Yes, we use a lot more cash when traveling overseas and thus use ATMs overseas. We just don’t use much in the US and thus haven’t visited a US ATM in a very long time.

 

[Sunset]

I try to always carry cash, although I don't actually use it often.
But when stopped by a cop, having cash helped me pay a speeding ticket so my license wasn't taken as collateral (weird IL rule).
So now I always carry cop cash.

 

[rk911]

you likely posted a cash bond. one used to be able to surrender their AAA motor club card instead of your license as bond.

 

[SonofCohoes]

I get cash whenever I need some by picking it off the money tree in our backyard.

Does that reseed itself? Can it be divided? How about grafting? Cuttings? Doesn’t seem to like our sandy soil here, I can’t get one to take.

 

[bbqcoder]

I use very little cash. What I'm surprised at is how many people still want cash/check instead of ePayments like Venmo/ApplePay/Zelle/PayPal/etc. Just recently I bought some Girl Scout cookies from a coworker and gave her $20 cash.

Depositing checks is a drag. Yes, I use my phone to deposit checks but would rather you just send me the dough electronically. If my 80yr old Mom can use PayPal to pay me back, why can't you? What are you afraid of?

 

[CaptTom]

I find that the few bucks people give me, like chipping in for a meal I put on my credit card, or paying back a small borrowed amount, more than covers the rare times I need cash.

Target, this may be thread hijacking, but why do you divide up your credit card use in this way?

One good reason to use different cards for specific purposes is to avoid having a recurring payment on a card which gets canceled because it was used at some store which had a security breach. So, one card for recurring payments and nothing else.

Another card for gas (I get 5% back on this one, but only for gas.) That card lives in the car and can be for emergency use if my wallet gets stolen or something.

The Amazon card gives me 5% off, but only at Amazon.

Then there's the 2% back card for general use.

 

[Sunset]

you likely posted a cash bond. one used to be able to surrender their AAA motor club card instead of your license as bond.

I looked at it as paying the speeding ticket, didn't have any AAA card and wasn't offered anything other than pay it cash (in exact change) or he takes my license and I can pick it up at some station when I come in with cash..

So weird, since they know who I am, and I'm still able to plead not-guilty and fight it in court.

I paid it, and decided that to fight it would cost a day's pay, and that was more than the $120 fine, plus waste a vacation day.

 

[SumDay]

Another impact of the coronavirus I had not considered:

https://apnews.com/3906e0ff919fd72d59f00313d104d190

The Louvre’s decision to only accept bank cards for payments was among the anti-virus measures laid out in detail in a document sent to staff Tuesday and seen by the AP.

The Louvre confirmed Wednesday that the museum will no longer accept cash, although it also noted that half of its tickets sales already take place online.

“Cash is finished,” said Andre Sacristin, a union representative at the Louvre. “It is a temporary measure during the epidemic.”