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A fast-growing movement to maintain cash as 'king' in an increasingly digital island has picked up nearly 2,000 members in recent weeks and continues to grow... From concerns about losing hundreds per month from a local takeaway to fears about surveillance, Express takes a closer look at what's driving them, and why some businesses disagree...
The transition to a cashless society seemed to gain momentum during and after the pandemic, with a growing number of businesses becoming 'card-only', often for hygiene reasons.
Although digital currency is often more convenient and secure for the individual than carrying around cash, a growing number of islanders are keen to highlight the risks of Jersey moving towards becoming a cashless society.
Victor Almeida, owner of Pizza Lovers Jersey, took to Facebook last week to urge customers to "please use cash if you can".
He explained that his business had paid over £700 in bank payments during the month of August which he described as an "outrage" for small businesses.
"Help us improve our small business by not feeding Banks on card payments charges," Victor urged.
"Let's make a £50 note worth £50."
Victor explained that "people don't realise how much of a difference it makes for small businesses", with some banks charging businesses 5% on bank transactions.
He said that two years ago his business paid around £250-300 a month in bank fees, but increases now means it amounts to over £700 a month.
"We can't say no to card payments as they are the majority of our business," he explained. "Sometimes we lose money on transactions when customers just want a portion of chips or a can of coke."
However, the small business owner said that Pizza Lovers Jersey could not afford to become cash-only as it "would be like closing down" as the majority of their sales are online orders paid by card or PayPal.
Pictured: Victor explained that around 80% of his orders are placed online via food.je, making it impossible for him to refuse card payments.
Victor added that customers do not realise that they are indirectly pushing prices up by paying by card as businesses then have to cover costs of bank charges.
"I try to encourage people to use cash as there is no money wasted; £50 is £50," he said.
"It's easy for people to use contactless as they don't see the money wasted, but small businesses do."
However, for some businesses, cash can actually prove to be more of an inconvenience.
Liberty Bus actually charges more for customers using cash in an effort to encourage bus passengers to pay using contactless.
A spokesperson for the company explained that whilst bank fees may be expensive, it is "more palatable" than the time and manpower implications of sorting and bagging large volumes of cash.
Pictured: Liberty Bus makes it cheaper to pay by card to encourage customers to use contactless payment methods on their buses.
Prior to the pandemic, about half of bus passengers were paying with cash but the bus company said that this has changed noticeably in the last couple of years estimating that now only around 15% of customers pay with cash.
The spokesperson added that the majority of cash-paying customers were tourists in the older age demographic, who used cash to be able to budget clearly whilst on holiday in the island.
They added that whilst bank fees may be expensive, the "ease and simplicity" of contactless payments makes it "easier than sorting cash".
A local Facebook group called 'JERSEY CI.Cash is king' – which offers a list of places which do not accept cash as payments as well as a forum to discuss the importance of cash – has gained over 1,700 members since it was created just a couple of months ago.
Group founder Nina Morgan explained that she set up the social media page after the topic gained traction online, but a dedicated forum for the issue was lacking.
Pictured: Nina set up the Facebook group to collate a list of local businesses which do not accept cash, as well as provide a forum for discussion.
She explained: "I am someone who will walk out of an establishment that denies cash, so it’s much easier if all the places are listed in one place and then we – as consumers who value cash – can take our custom elsewhere and not waste our time with places who do not want our money."
Nina said that the response had been "really positive".
"There was obviously a need for the group, and better still we have people from right across the political spectrum and of all ages, so it obviously resonates as an issue."
Nina uses the group as a way to collate a list of local businesses which do not accept cash, and believes that this has encouraged debate around the topic.
She explained: "When a business which was on the list popped in to ask us why this was important, I was over the moon about that. It is that interaction between business and their potential customer’s which will aid the efforts of keeping cash.
"Of course, being the internet, some people expressed themselves in a rather strident way, but we have asked people to moderate their language and tone and try to persuade people to our side with logic and reasoned debate."
Pictured: Some group members are passionate about the importance of cash is that they believe it helps with budgeting.
She added that the large number of group members – over 1,700 members at the time of writing – shows that "there are a lot of people out there who value the notion of a physical currency".
Nina explained that the group members believe in the importance of cash for a number of different reasons including ease of budgeting, the tangibility of physical tender, teaching children the value of money and the "liberty to spend your own money as you feel fit giving you full control of your own assets".
She explained: "Without bank or any other third party wagging their finger at your shopping choices or attempting to control how you can or cannot spend your money.
"Or worse, tracking your life and then selling or giving that information to anyone they feel like. The modern life is after all a surveillance society to some degree.
"A lot of individuals and businesses are not aware of the negative potentialities which could well follow should we lose physical legal tender."
Pictured: Victor explained that "people don't realise how much of a difference [paying in cash] makes for small businesses".
Nina said that the 'use it or lose it' attitude applies to the topic of cash.
She explained: "With governmental organisations, governments around the west in particular, and banks becoming increasingly 'hostile' – for lack of a better word – towards cash and the World Economic Forum pushing towards cashless societies and digital currency, this is the only action that is available for us as the end consumer.
Pictured: A sign in the window of a local shop stating "cash preferred".
"We can put pressure on businesses to accept cash, who will in turn put pressure on their banks to provide them with services in response handling cash. In short, a knock-on effect, which may or may not reach those who are making these decisions. But with enough people from around the world taking a stand, the odds for making a difference grow.
"What we are doing is nothing out of ordinary, across the world people are rising for the occasion with different approaches.
"By being selective on which businesses we choose to use – as is our right as consumers. The businesses who accept cash will see increase in paying customers."
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