[Msia] How much cash do you bring around every day and what do you think about going cashless?


  • Community Manager

    Can you go without cash an entire day?

    Would you look forward to or resist the day your state/nation/the world goes totally cashless?

    Some context:
    According to a 2017 Visa Consumer Payment Attitudes study, it appears that 6 in 10 Malaysians are confident of going without cash!

    https://www.digitalnewsasia.com/digital-economy/malaysians-confident-going-cashless-three-days

    Notwithstanding the survey findings, it also would depend on the state you reside in, and how most transactions typically take place? Let us know which state in MY you represent!



  • I actually welcome the day that the state/nation go cashless but, of course, subject to the practicability of the implementation and the security measures in place. Well.. it is easier to bring cards/phone around rather than a bulky wallet which instantly make you a target for the pickpockets. Also, easier and faster when transacting, no worries of over/under payment or giving back too much change.

    That being said, last time, i actually limit my wallet to hold only RM50 so that I can limit my spending. But once I go cashless, my spending actually increases .·´¯(>▂<)´¯·.



  • Quite good for doing cashless transaction, but I still worry about the security or the risk when I perform the cashless transaction, just like credit card can be used at other place even oversea although the card is with you. I am lose control on the spending money now because everything is cashless now (Using bank cards or mobile wallet).
    sad



  • Generally Malaysians are still being penalized for going cashless, i.e additional charges when using cards. Complain to BNM? Good luck, they never respond.
    However when I am in the merchant's position, in order to avoid being accused of unfair treatment when paying with cards involve additional charges, I will blanket apply the charges across every customer cash and cashless the same, resulting in overall increased price. It may mean profiteering for me OR losing customers.
    I kinda miss the times when I walk into a supermarket and buy an apple and paid using EFTPOS in aussieland.



  • I always pay by credit card wherever possible. I also try to keep about RM 200.00 in my wallet all the time for use in places that do not accept credit cards and top it up asap whenever it falls below that amount.



  • I love to go cashless. Currently using 3 ewallets. I like to hide my CC behind ewallets. Probably get less point but I dont mind.

    @rajpuga I do that as well, but I keep RM 100 more cash in wallet than you. Just in case. and that day I went to a clinic for annual medical checkup, total bill for me and my wife was 470. They didnt accept CC. LOL, I paid in full in case when we went back for the report.


 

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