My wife was just commenting that she's noticed many asians who pay cash when grocery shopping, even several hundred dollars at Costco, for example. As most people would not carry that much cash but would use a credit card or a cheque, I was wondering what might be the reason for this seemingly cultural phenomenon--unless we're seeing things which aren't there. Any ideas?

 

It is suprising how many places do not even accept credit cards in Japan.....

We don't have check books here either. Cash seriously is king here. We went skiing a couple of weeks ago and the hotel didn't accept credit cards!!! You had to pay cash, (US$200 per night) for the hotel....

 

I am Asian, but i only carry $100 cash MAX with me. most the time I will use credit card or ATM card.
but in Hong Kong or China. most people using thousands of cash to buy anything

 

i hate to say this, but the reason why people rarely use CC or checks in asia is because of the high amount of fraud that run rampant. also, cash is less traceable, which -> tax evasion. lastly, CC/checks are not as liquid as cash, and CC costs money to accept.

as an old chinese adage says (and this is a cultural adage) "there are no ethical businessmen"

of course this is just opinions from my perspective.

 

That Pho restaurant we ate at, the Golden Deli, is cash only. The Korean BBQ a couple of doors down is also cash only.

 

This is all very interesting. I had thought that the concern might be one of privacy as credit card and cheque transactions leave more of a trail, but I confess that the tax evasion idea hadn't occurred to me.

Raptor's comment is simply another example of the same phenomenon.

My original thought was that maybe credit cards and chequing accounts were uncommon in Hong Kong or Taipei or wherever and that this was, therefore, habitual.

 

SOrry to all AZN, but Its IRS issues.....cheat the freakn system....CASH no Record! Why put quarter million in afreakin Checking, because no report to IRS! Chinese rarely beleive in paying TAX....bwahahha


DaRKCrow
"That is when the famous "Chinese Discount kicks in!"

 

own store, collect cash only, no tax

 

Most stores in Hong Kong only accept cash to avoid fraud. Also in my culture (chinese), at least the way my father taught me is that cash is king.

Personally I use my Check Card most of the time to pay for things. If I carry cash, it would be $100 max. I like the Check Card because it's offers the convience of cash while providing me the fraud protection of a VISA Credit Card.

 

I think culture has something to do with it. My parents use way more cash than I do and carry more of it. My father would throw down thousands of dollars worth of cash at car dealerships making downpayments and such, when theoretically he could have cut 1 check.

I on the otherhand ... use my ATM/checkcard and my platinum ... plastic is KING!!!