Why don't Dunnes Stores round up/ down?

Pmc365 said:
I'm in and out if shops all the time for reductions and prefer cash. I take out €200. It does me well over a month. I don't like being tracked by my bank.
I was over on Spain recently. Cash is used more frequently there from my experience
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Personally I don’t think an entire system should have to be redesigned to suit a small minority of recalcitrant conspiracy theorists.

The biggest opponents of a cashless society are criminals and tax evaders.
 
Pmc365 said:
If the Revenue saw that they would ask questions about such a large cash lodgement when there was no cash lodgement.
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No, they wouldn't. They'd review the bank's AML records and be satisfied there was nothing of concern.

Are you worried that Revenue might want to audit you?
 
@Leo
I'm up to date with my tax affairs but would everybody welcome a tax audit?

10 years down the line If your bank statement said " cash lodgement" for a large sum transferred by credit transfer how would you prove it wasn't a cash lodgement if other records weren't to hand and Revenue Commissers queried what at face value appeared to be a cash lodgement.
Should credit transfer be described as a " cash lodgement" when no cash was lodged. Do you not see an issue with that. Should it not be described as a credit transfer.
 
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Gordon Gekko said:
Personally I don’t think an entire system should have to be redesigned to suit a small minority of recalcitrant conspiracy theorists.

The biggest opponents of a cashless society are criminals and tax evaders.
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People should have the freedom to use cash if they so chose. They shouldn't bullied into cashless by vested intrests making them feel guilty or marganalising them for using cash.. Lots of people prefer cash for budgeting purposes, they might not have a bank account. Its not all tax evaders and criminals and conspiracy theorists. I travel alot and see alot if cash used in day to day transactions both here and abroad.
 
ClubMan said:
I'm not sure that your bank is that interested in how many Jaffa cakes or toilet rolls you're buying.
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I don't like my bank statement peppered with miniscule transactions, coffee here, milk there etc I like it kept tidy with the least transactions. That's why I withdraw €200. It does me a month. What's wrong with that. I prefer it that way.
 

That’s because tax evasion and the black economy are huge in most Mediterranean countries!
 
Pmc365 said:
I don't like my bank statement peppered with miniscule transactions, coffee here, milk there etc I like it kept tidy with the least transactions. That's why I withdraw €200. It does me a month. What's wrong with that. I prefer it that way.
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That’s one of the reasons I use Revolut.
 
Revenue would be able to check whether the bank had satisfied AML rules on accepting that transaction.
 
Gordon Gekko said:
That’s because tax evasion and the black economy are huge in most Mediterranean countries!
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I remember reading reports of when the Troika came in to bail out Greece and finding whole sectors of the economy there running on cash with minimal earnings or transactions being reported. They used satellite imagery to identify hidden mansions and swimming pools of those supposedly living on the bread line, resulting in billions in back taxes being charged.
 
There was apparently a tax on swimming pools, but only a ridiculously low number of people had paid when compared to the satellite images. Apparently only foreigners actually paid the tax
 
Fortune said:
There was apparently a tax on swimming pools, but only a ridiculously low number of people had paid when compared to the satellite images. Apparently only foreigners actually paid the tax
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Yeah, apparently less than 2% were declared in the Athens area.
 
Leo said:
Revenue would be able to check whether the bank had satisfied AML rules on accepting that transaction.
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How long are those anti money laundering records held.
I don't like the idea of relying on 3rd party's records like anti money laundering which may or may not be available and which I wouldn't know what they contain. I would prefer my own bank statements to accurately reflect a transaction and not misdescribe a credit transfer as a " cash lodgement". Forgive me for being pernickety but I always understood as regards Revenue it was " guilty until proven innocent. I gleaned this from my late father and advice he received from top accountants many decades ago and this doesn't seem to have changed from a cursory glance at a Tax Appeal Commissioner "s case. In my situation all I can do to prove it wasn't cash which was lodged is keep statements from the originating account and hope I don't loose them. I have non-paye rental income. I aways keep my annual bank statements with my annual tax return and retain them indefinitely hoping they don't fade if Revenue were to ask questions. It's fear of the Revenue which makes me declare every penny.
 
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Gordon Gekko said:
That’s one of the reasons I use Revolut.
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That is a good idea to use Revolut for multiple daily transactions with the reassurance of instant notifications. I do use Revolut for online transactiins like Ryanair, accommodation etc. but I prefer withdrawing from an atm my months cash requirements for day to day spending. Call me old fashioned.
 
I put my “pocket money” onto Revolut and use that for small transactions. Using my phone so I don’t even need a card. I prefer it to carrying cash.
 
Gordon Gekko said:
Personally I don’t think an entire system should have to be redesigned to suit a small minority of recalcitrant conspiracy theorists.

The biggest opponents of a cashless society are criminals and tax evaders.
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Personally I split my 'pocket money' between Revolut and cash. I like cash for small amounts, tipping, giving small presents to young family.

However, I be against redesigning the system to be cashless. Just to be clear, as I far back as I remember we've used cash, the move to cashless is the redesign and I believe needs thought/consideration. I fear that vulnerable may struggle with cashless society.
- Older people, many won't use electronic payment (Absolutely not all, but I know my mother would struggle. Others her age are already at risk, a cashless society would remove some of their independence)
- Certain levels of disability, e.g. someone that can manage some level of independent living, but not everything - there are risks here regardless of cash/cashless, but cashless limits options based of persons understanding
- Cases where there's financial abuse, where one person is financially dependent on another, a cashless society would remove one of their options in terms of saving enough money to get out.
 
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