Search
  • chris1634

Cash - the Beginning of the End?


There were 13.2bn debit card payments in 2017 - eclipsing cash transactions for the first time. Contactless card payments exceeded £52bn - that was 5.6bn payments. However the Mail confirmed 22 April that thieves are stealing £27 every minute. The banks are reassuring saying they will of course return this money BUT this is eating into their number one concern: profit. Is it a cynical view to believe they will recover this money in other ways? When was the last time your bank charges were reduced? Has your bank increased your savings rate following last Decembers borrowing rate rise? 90% have yet to do so. I note the banks are making a return to financial services - remember how that worked out last time?                                                   


1 view0 comments

Recent Posts

See All

Thomas Cook

The sad news of the demise of the UK's oldest travel operator did not come as a surprise, except for those unfortunate souls either out of the country or worse, about to depart. Already social media i

Yield Curve Predictions

Hopefully the title has not put you off reading this first effort in a week; Canadian economist Campbell Harvey developed his "yield curve model" at university - 3 recessions ago. This indication tool

The Financial Revolution Goes into Overdrive

Just received Facebook's Libra White Paper so digesting it today before making any direct comment. For today I will focus on the news first announced a couple of weeks ago and what it might mean for u