Asklemmy

43856 readers

1702 users here now

A loosely moderated place to ask open-ended questions

Search asklemmy 🔍

If your post meets the following criteria, it's welcome here!

Open-ended question
Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
Not ad nauseam inducing: please make sure it is a question that would be new to most members
An actual topic of discussion

Looking for support?

Looking for a community?

Lemmyverse: community search
sub.rehab: maps old subreddits to fediverse options, marks official as such
!lemmy411@lemmy.ca: a community for finding communities

~Icon~ ~by~ ~@Double_A@discuss.tchncs.de~

founded 5 years ago

MODERATORS

Would it make sense to have #CashAwarenessMonth (pbs.twimg.com)

submitted 1 year ago* (last edited 1 year ago) by naut@lemmy.ml to c/asklemmy@lemmy.ml

79 comments fedilink hide all child comments

Maybe December? So we all take money out of banks, at least current month salary, and spend cash only. I think that is something that shouldn't be hard to do and it would show if we, the people, have any power left to make positive changes for the future or we can just surrender and eat bugs.

Edit:

If I’m trading my only true value, my time, then I want to have 100% control over it, not to depend if some bank would freeze my account and I lost 1/3 of my life irreversible.

you are viewing a single comment's thread
view the rest of the comments

[–] naut@lemmy.ml -1 points 1 year ago* (last edited 1 year ago) (1 children)

We can only guess, that is why I would like to try. There is reason why banks are putting limits how much money you can get out in one day. It is not just about "security". But if we don't try we can only speculate and argue in circles.

Is there any bad side you see in this awareness month other than you should have some cash with you?

Edit: Maybe you will not spend all money same day, so there might be liquidity issues. I assume it will not be unsustainable for banks, but I'm interested in their reactions. Also, I think we need to protect cash while we can.

[–] KevonLooney@lemm.ee 3 points 1 year ago (1 children)

I'm just letting you know that a free checking account with $1000 in it actually loses money for banks. They would be happy to close the account for you. Removing the money will not faze them at all.

Savings accounts with more than $10K, small business accounts, CDs, and commercial accounts are more valuable in that order. Banks are doing you a favor by offering you a cheap bank account.

Using only cash opens you up to theft and loss. This is a problem for immigrants who can't get bank accounts or are afraid of banks.

[–] naut@lemmy.ml -2 points 1 year ago

I don't know, I remember times when you would get 10 - 11% just for regular saving, keeping money in the bank. Now you saying they are making me favor with cheep account. What are their cost when I give them my money. And most of the value is not in cash, it is virtual. So I would like to see actual reaction instead of speculating. There was also in recent times when you could get paid in cash, you still have that right, but other new laws demands employer to do all business over banks, so even you have that right employer can't do it, that is strange for me.