Cashless Future

[Old Hippie]

26 minutes ago, Mekong said:

Again what does this crackdown in Thailand have to do with “Cashless Society” Unless all of you transactions are in cash, you need an account to receive money and to withdraw cash from.

Suspicious activities relate to loong Somchai who has been getting say 20,000 THB per month deposits and all of a sudden he is receiving 200,000 per month. If one has a bank account this activity can be observed even without a cashless society so it’s difficult to understand the point you are trying to make.

There are business that operate ONLY in cash, no bank involved, the drug trade, human trafficking etc…so  a bank being involved may or may not be in the picture. The USA and its paranoia want to basically control everything we do. I can see the concern over tax evasion, alimony skipping, stealing marital assets and hiding them off shore, but in those cases, it is very easily tracked as has been noted. 

     A cashless society might exist but the abuses or potential for abuses would be great as every where you spent money and everything you spent it on could be recorded and that information sold to third parties…

[Mekong]

1 hour ago, Coss said:

When banks engage in the practice of sharing information with one another, it creates a situation where individuals can be more easily targeted, whether justifiably or not.

You do know that when you use ATM at  Bank A for you cash which is in Bank B that the banks are sharing information

[Coss]

really? so do you want more or less of this?

[Old Hippie]

14 hours ago, Mekong said:

You do know that when you use ATM at  Bank A for you cash which is in Bank B that the banks are sharing information

 

14 hours ago, Coss said:

really? so do you want more or less of this?

I’d like less of this. It is true, each ATM has the serial numbers of all the bills recorded. As these bills are dispersed, they know who they were dispersed to. Your photo/video and audio are recorded as well. If your money were to show up where it shouldn’t and *IF* the government were so inclined, they could come and ask you how that happened…

[Coss]

For me, I am less worried about them knowing the money I have,  but more worried that they'll use any reason they see fit to deny me my money.

[Mekong]

3 hours ago, Coss said:

For me, I am less worried about them knowing the money I have,  but more worried that they'll use any reason they see fit to deny me my money.

I will ask you again, how does cashless society make it more likely for them to deny you access to your money? 

Pre-cashless days, to deny access to you r monies they would only need to cs cel your ATM card on a Personal level or shut down the network for countrywide. Nowadays not only block your ATM as before but also yours Credit Card(s), Debit Card(s), Apple Pay etc.

I put to you that with Cashless there are more payment methods and it is more difficult to deny access to your funds and not easier as you are screaming from beneath your tinfoil hat,

As a side note, Thailand is “Cashless” in one aspect, Food Courts, most food courts you buy tickets / tokens and purchase food using such instead of cash 

 

[Coss]

3 hours ago, Mekong said:

I will ask you again, how does cashless society make it more likely for them to deny you access to your money? 

OK I demonstrate:

If a cash society, I would take my money to Laos in a bag. Cash, gold, etc.

Because I used the cashless option, the following happened:

>> True Story: Before I left for Laos in '11, I went to the local Auckland bank here and said, to the nice Asian lady, watched by the middle aged woman assistant manager, "I have $XX,XXX.xx in this account, I will be buying a car, some land etc, so when I do so, from Laos with this card, I can expect no hitches right?

She agreed and I got her name and phone and email to correspond later, for safety.

One fine day in Laos, I went to transfer some money, I phoned the nice Asian Lady, out of an abundance of caution, she wasn't there,  the middle aged woman assistant manager was.

I said I would transfer the money, she was noncommittal. The money transfer did not work immediately (common then for things to take hours or days), but when I went to the ATM for drinking money, it swallowed my card.

Long story short - I spent 2 days and ~$80 on mobile phone charges, calling the Bank's head office in Wellington and eventually got my transfer done and my card's functionality transferred to a credit card I had with them. When asked why the card was swallowed after my call to their staff member, they got very vague and shuffled.

Some time later I removed any association I had with that bank - because they could not be trusted in the handling of My Money, not their money, not a scam or a crime - ...<<

This not conjecture, it happened, wherein the bank used it's whim, to deny me access to my money, this is what happens when you surrender access to cash.

 

[Mekong]

But that is not “Cashless” you wanted to transfer CASH from one country to another, withdraw from an ATM and spend CASH.

Your bank fucking up a transfer has absolutely nothing to do with cashless payments, it just means your bank are useless. 
My main bank is in another country and I do all my banking online, in over 20 years never once has a transfer taken more than 48 hours to clear in Thailand from the time of me initiating transfer.

So I have probably executed over 200 transfers without a hitch over the years and you have had 1 bad experience which is <0.5% failure 

Blame you r useless bank in Auckland not cashless society