Why do Asians always carry and pay in cash?

[TsundereMatrix]

I’m not trying to sound racist but this is just something I’ve noticed while working in retail. Just the other day I had a customer who bought a $6000 tv from our electronics retail store and wanted to pay the entire thing in cash but he backed out. My previous landlord was Chinese and he wanted me to pay my rent in cash every month. Why do they like cash so much? That’s a lot of cash to be carrying around in public!

I live in Canada and I guess we are just so used to paying electronically that carrying loads of cash is kind of taboo. Sometimes it’s not just Asians but mostly is. I’m not familiar with any Asian culture so that’s why I ask this question.

[Izumiblu]

Credit cards aren’t common in parts of asiA. Even getting credit is difficult and large purchases like homes and cars are often done as a family in cash. It’s simply a matter of custom and familiarity.

In the US stores that use cash only will often not report full sales to avoid taxes plus you don’t have credit card fees to pay and Asians are accustomed to cash purchases anyway.

[MusicMayhem]

I'm not sure but it pisses me off how Asian stores never have eftpos machines so always need to have cash on me. But even more disgusting is that if they do have atm machines they charge you extra cause they're stingy mofos. At that point I walk away.

[TsundereMatrix]

Yeah I guess it can go the other way

[MusicMayhem]

It just really irks me cause they're trying to punish customers and make them pay more cause they don't want to pay for the use of their eftpos machines, a completely common business cost.

[MackToday]

As is well known, Asians have a high IQ, cash protects you from the government. They probably have quite an underground economy going. We could learn a thing or two from them. I strongly advocate cash and barter and forming underground economies.

[abc3643]

Because they are smart.

Cash doesn't leave a trace.
Cash doesn't put their purchase into a database linking them to it.
It's all about privacy.

It's the smart thing to do.

[Oliveyoung]

Not sure if you’re smart but you can hide some cash on your sales report to avoid taxes. You can’t hide your personal info from hackers. Think bigger.

[TripleAce]

Because they often times deal in shady ways, they don't wan to keep track of paper trails...
Asians have a thing about money... they need to be financial successful or its kinda a disgrace

[SuperManiac]

In Japan at least, lots of places still don't accept credit/debit cards (let alone checks) compared to the US. That might factor into it.

[SuperManiac]

Here credit cards are relatively common but lots of places still don't accept them. Sometimes Japanese even withdraw cash through their credit card at the nearby ATM and then pay in cash since the store might not accept credit cards.

[Scarecrow13]

Yea I have noticed this too. I have heard part of it is they don't trust banks. It's actually quite smart. It's better to pay in cash than in credit. Even a debit card has issues. The biggest downside of course is if you get mugged.

[Rangers]

Likely the same reasons I try to use cash as much as I can, it's very easy to steal your information, so the less times I swipe my card, the lower those odds are.

[deepseahunter]

Not just Asians I'm the same way i don't like using cards. Power outage and your sol. Cash is king a lot of businesses give discounts for cash especially small businesses.

[TsundereMatrix]

Ah not here but I do carry some cash because my credit and debit card have limits on how many times I can use them within a month

[Oliveyoung]

Yeah sometimes. I have some cash like $20-$50 or less than $100 for emergency but 90-95% use my debit card, put some online purchases on my credit cards. Carrying lots of cash is a no-no same for purchases of big assets. It depends on customs and culture.

[Iron_Man]

I guess they want to keep everything all paid off instead of putting on a credit card and get all that high interest

[buttcrackjoe]

With cash you can keep 100% illegally from uncle sam hard to track a cash based income.

[legalboxers]

they got money to burn, I dropped $800 cash on an Iphone Xs..

[Poormanscomedian]

They are smart, can't track cash and you not going in debt

[iFarted]

It's always to cheat the system. They don't want to pay taxes.

[Oliveyoung]

Exactly bad practices

[BestUserName100]

They don’t want to pay taxes?

[Oliveyoung]

Apparently they don’t

[ZeussLightningBolt]

Credit cards aren't common over there

[GreenGold1992]

maybe they don't believe in credit cards lol

[Oliveyoung]

Nope. 100% many can cheat to avoid taxes and also credit card charges

[Nahid1707]

They don’t have a credit card perhaps

[disgustingweebtrash]

Avoids tax