withdrawing/carrying lots of cash

[badkuk]

almost every week i read about people getting robbed of hundreds of thousands of pesos in cash. why do people prefer to withdraw or carry cash when there are alternatives(e.g. wire transfer, check, payroll via atm)?

[v6dreamer]

almost every week i read about people getting robbed of hundreds of thousands of pesos in cash. why do people prefer to withdraw or carry cash when there are alternatives(e.g. wire transfer, check, payroll via atm)?

Depende kasi sa transaction minsan cash only ang bayaran. Ang check naman ay very few ang tumatanggap kasi umiiwas lang sila sa talbog(bad check). What you have said is much much convenient to transact pero hindi mo parin maiwasan ang maluko dahil there is always watching behind your back.

[badkuk]

well, dun sa payroll in particular; di ba mas mabuti na diretso na lang sa atm account ng empleyado, kesa magwithdraw pa sa bangko? why do some companies insist on doing that? para makatipid sa charges/fees with the atm setup?

[creepy]

A lot of people don't have bank accounts kaya physical cash pa rin ang pang-sweldo.

[badkuk]

hmmm...afaik, pag payroll account, pumapayag naman ung bangko na maging 0.00 ung account....and the company would handle the opening of the accounts. all that's needed is some basic info from the employee

[tidus1203]

And normally small companies still pay via cash since its not worth it to setup a payroll account just for the sake of paying what 10-20 employees....

[niky]

We're still a third world country.

While it's ridiculously easy to arrange payroll via bank, some companies still do things the old fashioned way... especially, as said... if the payroll itself isn't too large.

But if your payroll is large enough that you have a courier carrying millions in cash...well, you're just asking for trouble.

[Cons Santos]

if carrying big cash can not be avoided like.. paying something or some one.. ipa managers check nyo to be safe sa hold up.. 50 petot lang bayad nyan sa banko. managers check is as good as cash..

[boybi]

Not everyone accept MCs. And MCs, just like ordinary checks, will undergo a 3-day clearing. And there are also fake MCs.

[_Cathy_]

what a difference a decade makes. I used to be a cash person too but I was kinda forced to evolve. Since the pandemic I rarely used cash anymore. It's mostly GCASH, Online bank transfer and credit cards.

I was shocked that in the US there are places that do NOT accept cash payments anymore. I have not touched my cash yet It makes me wonder, may mga tao pa ba that use cash exclusively pa rin?