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Do you think ATMs are dying?

Convenient stores, gas stations, malls, and bigger supermarkets sometimes have ATMs located in their stores. I think they may earn money by renting out a small area of their store to place a bank ATM, and the ATM is also convenient for people who prefer paying in Cash, so their bank does not know how much money, and what items a user bought at a store by looking through their debit and credit card records, and maybe asking the store for a copy of your receipt to see individual items you bought with a payment card.

Some buyers may not want the cashier to know their name which is printed on their credit card, and don't want the store to know their address, phone number, and other details by looking at the payment and location data stored on a card, and at a bank's website which store information on credit and debit card users.

A lot of smaller stores like smaller family-owned restaurants, where I live, prefer cash or only accept cash because credit card companies charge stores a lot of money when a buyer uses a credit card to buy things, so the store may not earn much money when buyers use a credit card to buy a one dollar item.

Some stores also sell a product for a cheaper price if a buyer uses cash to pay for an item because the store won't lose money on credit card usage fees.

I think one of the advantages of cash is that there are no payment fees for the store.
 
Virtual wallet nowadays are becoming popular some stores already accepting this as a mode of payment. Where you just open an app on your phone and face it to a scanner. Then done.
 
NameGervin said:
Virtual wallet nowadays are becoming popular some stores already accepting this as a mode of payment. Where you just open an app on your phone and face it to a scanner. Then done.
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In our case that's IC cards, or using a phone in case your iPhone, Android phone, or flip phone have a Felica chip built in, like my current Android phone.
I have my SUICA, nanaco, and bank cards added, so I'm basically covered in all places that support more payment methods than just cash, and I can also use my phone for public transportation, or in the New 3DS eShop I might add.
 
テクニカル諏訪子 said:
In our case that's IC cards, or using a phone in case your iPhone, Android phone, or flip phone have a Felica chip built in, like my current Android phone.
I have my SUICA, nanaco, and bank cards added, so I'm basically covered in all places that support more payment methods than just cash, and I can also use my phone for public transportation, or in the New 3DS eShop I might add.
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Is the money on your 'virtual wallet' is insured? because here it is not.
 
テクニカル諏訪子 said:
What do you mean with "insured"?
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If some amount is lost and you reported it, company will look for your history transaction and pays you if there is an error found. Because here some people that transfers money from Paypal to our local virtual wallet lost some fund. But the company said it is not their responsibility for any loss or errors and turn a blind eye to the incident.
 
NameGervin said:
Virtual wallet nowadays are becoming popular some stores already accepting this as a mode of payment. Where you just open an app on your phone and face it to a scanner. Then done.
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Some stores are also accepting cryptocurrency like Bitcoin which allows people to buy things more privately compared to virtual wallet apps which may send your spending history to a company, banks, and third-party companies which can access your spending history data.
 
froggyboy604 said:
Some stores are also accepting cryptocurrency like Bitcoin which allows people to buy things more privately compared to virtual wallet apps which may send your spending history to a company, banks, and third-party companies which can access your spending history data.
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Right, some country are accepting and regulating cryptocurrency, but some other government are still making laws about it.
 
NameGervin said:
If some amount is lost and you reported it, company will look for your history transaction and pays you if there is an error found. Because here some people that transfers money from Paypal to our local virtual wallet lost some fund. But the company said it is not their responsibility for any loss or errors and turn a blind eye to the incident.
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It depends.
Obviously my bank has detailed history, Lawson debit cards have very limited history, nanaco doesn't really have one, and Suica is a horror to set up if you want to see history (you must verify your credit card (and yet a very few types are supported), despite having an option where you don't need to do that, but that option blatantly gives an error code, and a nothing telling description if you finally find it in the official FAQ, and phone support results in no solution either).
 
NameGervin said:
Right, some country are accepting and regulating cryptocurrency, but some other government are still making laws about it.
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I think you need to sometimes pay taxes on cryptocurrency if you convert it to local cash like the US dollar, and made a profit by investing in cryptocurrency.

But, some governments may not need you to pay taxes on cryptocurrency if you never convert it to local cash.
 
froggyboy604 said:
I think you need to sometimes pay taxes on cryptocurrency if you convert it to local cash like the US dollar, and made a profit by investing in cryptocurrency.

But, some governments may not need you to pay taxes on cryptocurrency if you never convert it to local cash.
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There's only 1 way I think you can buy and sell cryptocurrency here, that is thru virtual wallet on smartphone. Though no tax on converting.
 
I had to use them a lot on Japan because cash is still used quite a bit there. Locally I rarely get money out, plus you can get it at the supermarket so it's not even necessary to go to the ATM. I do usually take money out when I'm going to conventions but even now a lot of them have phone apps for EFTPOS / PayPal so it's not that necessary any more.

It's good to go out with the olds because they'll usually have some small coins ('poo change') and can shout a hot drink or whatever. :p
 
fantanoice said:
I had to use them a lot on Japan because cash is still used quite a bit there. Locally I rarely get money out, plus you can get it at the supermarket so it's not even necessary to go to the ATM. I do usually take money out when I'm going to conventions but even now a lot of them have phone apps for EFTPOS / PayPal so it's not that necessary any more.

It's good to go out with the olds because they'll usually have some small coins ('poo change') and can shout a hot drink or whatever. :p
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If you have a SUICA, it's perfectly possible to not pay with cash over here.
But that means you'll be depending yourself on major convenient stores, chain restaurants, and train stations only, and a limited amount of vending machines and game centres.

...

And you'll need to get cash in order to charge SUICA...unless you have auto charging...which requires a Japanese credit card or phone number...which is out of the question to short term visitors.
 
I think one of the advantages of ATM is that you don't always need a bank account to use an ATM because ATMs accept prepaid credit card which you bought at a grocery store or the post office. Withdrawing smaller amount of money from a prepaid credit card at an ATM is more convenient than carrying a bag full of money to spend your money.
 
froggyboy604 said:
I think one of the advantages of ATM is that you don't always need a bank account to use an ATM because ATMs accept prepaid credit card which you bought at a grocery store or the post office. Withdrawing smaller amount of money from a prepaid credit card at an ATM is more convenient than carrying a bag full of money to spend your money.
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Prepaid cards here that can be bought at grocery and convenience store are need some more verification. It's very limited you can only put money on it and you can't withdraw it if you are not verified thru picture holding your government issued ID. Also the amount you can put on it is limited and you can't send money to other people, can only be use for purchasing things. But if you had been verified those limits will be lifted.
 
NameGervin said:
Prepaid cards here that can be bought at grocery and convenience store are need some more verification. It's very limited you can only put money on it and you can't withdraw it if you are not verified thru picture holding your government issued ID. Also the amount you can put on it is limited and you can't send money to other people, can only be use for purchasing things. But if you had been verified those limits will be lifted.
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That can be somewhat a hassle to need ID to buy a prepaid card especially for people who don't have ID, got their ID stolen, or lost their ID.

Do you need ID for prepaid giftcards for Amazon, Google Play, Apple iTunes, etc?
 
I still prefer cash, makes me feel like I have more control over what I spend. If I only keep so much on me, I know I wont spend more than that. Otherwise I just overspend, though I guess that's mostly a personal issue from my side. I could go shopping intending to spend $200 and end up spending $400. Mostly on useless stuff I didn't really need.

Pluussss (and that's not exactly one of the reasons I prefer cash), mistakes still happen. Just the other day I bought some snacks at a filling station, which would have cost me like $5, and they ended up charging my card $0.50. I only found out a few days later while looking for another transaction in my history. What if they had charged $50 instead and I never noticed? Even if I did notice a difference, I would have just assumed it was a bill or something, unless it was a huge amount.

And a bit of a different topic, but still relevant I think. While looking to sell my Albion Online account a while back, I stumbled upon a community of people that hack and sell online accounts, like Netflix, Crunchyroll, VPNs, etc. They pick accounts with cancelled subscription and renew them since, I'll assume, the card details are still in there and thats all they need. And since its a small amount, people don't always notice it.

Granted, you can avoid such issues if you are careful and pay attention, but I can kind of understand why people have the notion that its unsafe. Just like others might argue that taking money out of an ATM can be risky.

Anyway, my answer is no. I don't think ATMs are dying. I still get lines if I need to take money out and its too early xP
 
froggyboy604 said:
That can be somewhat a hassle to need ID to buy a prepaid card especially for people who don't have ID, got their ID stolen, or lost their ID.

Do you need ID for prepaid giftcards for Amazon, Google Play, Apple iTunes, etc?
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Nope. Only those prepaid cards that has Visa/Mastercard on it.
 
froggyboy604 said:
Is there any reason in particular that prepaid Visa/Mastercard require ID while giftcards from Google, Apple, and Amazon don't require ID?
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The law doesn't require ID giftcards cards such as Google, Apple, Amazon because you can't actually withdraw the value of it. You can't turn it into cash or use it to other things. While prepaid Visa/Mastercard allows you to insert it to Automated teller machine and withdraw funds. Verification is optional but being verified offers great advantage, like you are protected by the law, withdraw cash, use on machine. Being not verified, you can only put money on it and spend it.
 
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