Cash Free Keeps Prices Down

We said we would never go cash free in the shop, but we have and here’s why…

Our setup with hundreds of small transactions each day is attractive to dishonest staff and presents a tempting option to those who are basically honest. In fact we have rarely found staff with their hands in the till, but that was partly due to the time consuming measures we took. These included a cashup each day with anything up to £2500 from two tills needing to be checked and recorded, frequent visits to the bank, stock checks every week, maintaining safe secrecy, keys etc.

Cash means freedom for you from being tracked through your credit card, that’s why we said we would never go cash free. But Covid brought it home to us that it was a massive burden adding to our costs. In addition we now have a lower insurance premium and less need to have expensive security systems. We do pay more in handling charges but it’s less than 0.5 percent and bank cash charges are going up all the time.

So here is the bottom line: at a rough estimate cash handling was costing up to 10p per cup of coffee and quite a lot more in staff stress.

Do you find this compelling? Or would you rather pay a bit extra for the benefits of using cash?

Let us know your thoughts...