Cash Or Card?

[OnMyWay]

46 minutes ago, Dave Hounddriver said:

Completely free to the consumer, perhaps.  But the merchant must pay approx 1 to 3% on each transaction which is a cost that must be passed on.

It is my experience that there are Filipino type stores that sell similar merchandise for less than the large stores like Wilcon.  Those stores add a charge for using credit cards and have lower prices for cash.  However, if you are going to buy in Wilcon anyway, then you may as well get the "free" service.

Yes, true, but people usually are not going there because they accept credit cards or because they have the lowest prices.  Many go because they have a large selection of quality goods all in one place.  Wilcon, Home Depot, the department stores, etc.

Not mentioned, but many cards have points or cash back, an additional perk / savings.  I get travel points but I know some cards have as high as 3% cash back.

 

[Dave Hounddriver]

1 hour ago, OnMyWay said:

Many go because they have a large selection of quality goods all in one place.  Wilcon, Home Depot, the department stores, etc.

Yep.  Point taken.  I also like those big stores and they do have things not available elsewhere.  I just bought some things at ACE Hardware today.  It's a really nice place to shop and the prices are high enough that they can absorb a few centavos on the exchange rate or credit card transaction fee.   Better them than us. 

[Jollygoodfellow]

6 hours ago, Clermont said:

I always put a 1000 peso in the bottom of my sock, you never know when you run into a smart crook. 

I used to do that when I was out and about at night. Comes in handy if you spent more than you expected too. 

[Rooster]

On ‎6‎/‎6‎/‎2018 at 8:30 AM, JJReyes said:

As an Expat, has anyone noticed a greater acceptance of credit cards or do stores, hotels, restaurants, bars, etc. still insist on cash?  I see it as a safety issue. You can carry  a credit card and less cash.  I understand that some establishments charge more if you use a credit card to compensate them for the additional fees. So for some situations you do have to bring more cash.

Yes, I have noticed a greater acceptance of credit cards. Some places tell you in advance the item is less expensive if you pay cash than if you use a credit card. Especially on sale items. Be aware of Foreign Transaction Fees. 

[JJReyes]

3 hours ago, Rooster said:

Be aware of Foreign Transaction Fees. 

I got hit with a 3% foreign transaction fee by American Express for booking a hotel in the U.K. My Mastercard does not charge an additional fee, so I am using it for other bookings. My understanding is Capitol One offers the best program including a cash rebate.

For local cash while traveling, we have a VISA debit card issued by our bank. The foreign bank charges a fee up to $5.00 per transaction. My bank also charges $5.00, but I can request removal because my monthly minimum is sufficiently high.