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by orbital-decay
12 days ago
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Everyone in China has to and will accept cash in practice (no idea about big transactions though). Cash is also more frequent among locals in remote places. Also if you're talking about Russia, people are switching back to cash en masse because cashless transfer between people is essentially half-criminalized. You run the risk of getting all your bank accounts blocked instantly on mere suspicion or for things outside of your control, with almost no real rules, accountability, or practical ways to push back. It's the way to avoid the runaway government process in the first place. |
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False. If you say this as advice to anyone you are putting them in danger. Cash is a no go for most vendors and you may struggle to buy food if you only have cash. I was personally rejected numerous times and told to scan QR or go home.
> if you're talking about Russia, people are switching back to cash en masse
Also false. I don't know a single person to switch to cash. Friend of a friend lost bank card and was basically on QR for months, no cash no plastic.
Here is what I know:
- There are limits on dollars basically since the beginning of war. (Normal people aren't affected because they don't use dollars)
- There was apparently a brief scare that banks cannot satisfy if you want to withdraw a lot of ruble and then the gov quickly claimed it to be false (of course). The amounts were too high for any normal person.
- a bit of cash is helpful to help because censorship infrastructure caused internet hiccups so electronic payments occasionally don't go through, but it seems rare now
- in western regions people tend to carry more cash simply because mobile internet is regularly unavailable. After all if you can't access your banking app to pay for coffee while civilians in Ukraine across the border are getting bombed, it's a bit embarrasing.
Otherwise everyone is as cashless as usual, people moving money out of banks en masse is probably made up.