Road Money

racerex

Curious, I know most of you guys (and girls) are from the UK, so I'm wondering if this is just a US thing, or if it's just me. I've started a sort of casual hobby of picking up money I find at stop lights on my rides. The stuff that's really worn from traffic I throw in a jar when I get home and now don't know what I can do with it. Will the bank take it? Not sure if there are people in the US just sitting in their cars at stop lights throwing money out the window? It's more than just a few pennies here and there, it's starting to add up. This is just the bad stuff found over the past few months or so, hardly identifiable. The coins in good shape I spend obviously, probably this much more again....

oxoman

Yep definitely a yank thing. Most people in uk converted to cashless during covid. My local pub is encouraging us to pay cash to keep prices down because the bank want to charge extra per cashless transaction.

pblakeney

People literally throwing money away is a sure fire sign that coins and cash have a very limited lifespan.

Dorset_Boy

https://forum.bikeradar.com/discussion/comment/21057192#Comment_21057192

Sounds a little odd. Card readers cost about £25 up front and minimal transaction fees. Banks are closing their branches left, right and centre. It is 'hard' work for the bank to process cash as it involves a teller.

I'd say the truth is they don't want to put all the transactions through the books.

davebradswmb

Banks charge businesses way more for handling cash than cards, so there must be another reason why they want cash - they aren't putting it in the bank.

There are a few bars that refuse to handle cash because it makes a significant difference to their insurance bill.

oxoman

A lot of banks are charging per transaction and when your doing smaller transactions for a few beers in a round it mounts up. If it's larger amounts it's not so bad. It's hopefully keeping the cost of the beer down by paying by cash.