lotus80 said:Some Funan shops ask for hard cash, not even NETS. Why ? Money going in bank account anyway or it's not accounted ?
Why pay surcharge on credit card purchases when bank don't charge surcharge ?
lotus80 said:Some Funan shops ask for hard cash, not even NETS. Why ? Money going in bank account anyway or it's not accounted ?
Why pay surcharge on credit card purchases when bank don't charge surcharge ?
In most cases. Cash is king.
Cash so that the taxman can't see!
ricohflex said:This is a sign of impending commercial doom.
Economy is down.
Shops have disputes within its partners and directors.
So they want cash because the person at the cash register can physically take that cash money.
If the payment goes to the company account, then they have to legally fight over that money. There may be injunctions.
There may be a legal process known as Garnishee Order.
If the shop is already in very serious financial trouble, the creditor/s can apply to the Court to serve a Garnishee Order.
So if money is supposed to be paid into the shop's account, the partners or directors or owners will never get to take that money. It goes to the creditors.
That is why some may prefer you pay them cash. Which they take back straight away.
cks2k2 said:same reason taxi drivers don't like nets. they want cold hard cash in hand for cash flow.
Cool, but as far as I know shops have preferred cash since 2006. So not sure what you are singing about here, this aspect remains constant through the yrs but signals doom today?
This is a sign of impending commercial doom.
ricohflex said:Everybody prefers cash at all times. But TS is suggesting the shops are not even accepting Nets.
I don't think so leh. Maybe you can reread? He mentions a surcharge on credit cards. Maybe TS can clarify. Anyways certain establishments don't accept nets or card cos they don't have the facility I guess. But most places no problem so far.