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Published by jack elliot

 

Many places of work  have switched canteen machines for food and drink, to card only payments, and immediately found themselves backtracking, and having coin slots added to the new machines, following complaints from high numbers of staff at most levels of the business, who utilise the canteen facility.

In the psychology of many years, of having to spend over £5, within many retail establishment or incur an added fee from the retailer, has led to people associating card payment with higher level spending & luxury, and in all honesty, it does feel ridiculous buying a single drink at a time from a machine for less than 50 pence, on a banking card.

Of course, such things can always stimulate debate as to worthiness of coinage, during these times of lock down and higher levels of digital spending online, though the debates are probable ancient ones, as to who decides how many decimal places a currency is exchanged at for goods and services, and what happens to interest on money or goods at a given point, and who profits or suffers from the constant rounding up or rounding down of the numbers. Are they calculated individually or as a collective. Yes it seems petty though many an alleged fraud has been suggested to have worked through skimming of fractional percentages. Yes already agreed standards exist in many monetary & financial realms, though with all these free lance independent block chain styled digital systems going on, one does feel that the banking World is becoming ever more casino gambling like in appearance to the general public.

Instead of a traditional reputation for maturity that banks have long held, we are as a society, since the 2008 crash, finding ourselves less able to trust in these financial institutions, even those that have great History and so on, seemingly do not mind getting involved in wide spread fraudulent activities, because of lax interpretation of rules and regulations, and competition among international locations to be safe havens for financial sector scams, and indeed the knowledge that Governments would rather save a bank in trouble than the Society, they the banks, are supposed to serve in offering above board services etc. and of course Regulations brought in after the 2008 Crash, have been stripped back by the Trump Administration, great for bankers & wall streets, terrible for consumers.

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