Business & Money

Want to help the poor? Start by taking money out of their hands. More specifically, cash — coins and paper bills are the silent enemy of the poor, with costs often out of proportion with their day-to-day convenience.

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  1. Hmm… As someone who’s been on benefit for 26 years, I think I have the background to say that’s absolute rubbish. Money is money, whether it be cash, plastic, or enshrined in a mobe app. A substantial lack of it is still poverty.

    I do agree, though, that cash has had its day. The only place I use cash is in a taxi, and getting the damn stuff is a major hassle which means stopping at an ATM en route – assuming the route contains an ATM. Why is that a hassle? Well, have you tried pitching up at one in a taxi with the meter running? On the approach to it I can see that there’s not a soul in sight. By the time the cab’s parked and I’m out, there’ll be six people queueing! I do, of course, always get enough cash for several journeys, but as I never go near an ATM in the normal course of events – all my shopping is delivered – it’s still a bind.

    The sooner my bank goes the mobile route, which taxis will surely embrace for the sheer convenience and the reduced risk of being robbed, the happier I’ll be.

    I still won’t be any better off though.

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