@Snowbird with my Queensland accent it sounds like eft (as in left with emphasis on the t) poz (as in Oz)
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EFTPOS is global @TheMapleKiwi and itās been around for decades, people just use different terminology for it around the world. As you & @Snowbird point out, if a person uses a credit card or debit card on a machine at a shop (at the point of sale (POS) then itās an EFTPOS transaction as their funds are electronically transfered to the business. Also could be called freaky voodoo witchcraft 
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Are there any places in the UK that are cash only or where itās useful to be able to pay in cash? For ex., tipping the porter at a hotel for holding your bag or at street venders? Iām wondering how much cash to carry.
Tipping is an American custom and not necessary.
Street vendors usually are cash only and ATMs are pretty much everywhere unless you go to a rural area where there you can get cash at the post office.
This last trip I took no cash whatsoever and only used my no fee debit card.
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Also if you have ApplePay you can use your phone wallet to pay, tap pretty much anywhere.
Itās what most locals do.
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We certainly carry a lot less cash with us now than we used to when we travelled. I think we took 100Ā£ at the atm and it lasted us ages, in fact, we have to make a point to use it up. We use out credit card almost everywhere we go. We even used it for street vendors.
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I generally use credit cards without the conversion fee when traveling, but Iām sitting on a bunch of cash now from UK HOs who had planned to let me use their cars but ran into the insurance problems. So, they offered to split the cost of the car rental with me - one was a sit where a car was absolutely needed and the other because of rail strikes on both my arrival and departure dates. So Iām spending cash at the grocery, at coffee shops and restaurantsā¦ But not for transit because buses and the underground require a card. I could use the cash to load an oyster card in London, but using the CC is better because the capping works better with credit/debit cards than with an Oyster card.
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@Crookie having worked in banking for years, I appreciate your last line! So true! 
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As a Canadian, I am using the Scotiabank Passport Visa Infinite credit card for no foreign currency exchange fee and a Scotiabank debit (ATM) card for no fee at any Global Alliance bank. That means Barclays in the UK. Unfortunately, only some countries have banks that are members of the Global Alliance - see the list: Global ATM Alliance - Wikipedia
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@Karen_E I also started out in banking for the first 10 years of my working life, in the 80s when there werent even ATMs, only cash and cheques, hence my comment.
I also think the same thing about fax machines, which are now redundant technology. How a piece of paper can slip in one machine and out another still blows my mind! 
and here you are using telepathy to share your thoughtsā¦ 
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I think PayPal is a worldwide website? Iāve sent money to family in NZ using it.
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Iām looking for more info from Canadians about Wise.
I set up an account but Iām wondering about getting a card as well. I seems there is a one time fee to get a physical card although the price seems to vary depending on the places Iāve looked.
If I get the physical card, can I use it in ATM machines in Italy to withdraw money? I assume I link my bank account to the use account, transfer CAD to Wise, then withdraw Euros?
If I have money left in my Wise account when I get home, can I transfer it back to my bank account?
I have more questions but will wait for answers before I continue. Thanks!
@Kelownagurl I use Wise, itās great. Big fan.
I donāt remember paying a fee for the card, pretty sure you just order it through the app / website.
Wise is super easy to use, you just create an account in your chosen currency and link your bank account to it. You can have multiple accounts with multiple currencies and there are no fees except a small fee when you transfer - which is significantly less than usual currency exchange fees. Itās also really fast, once you are all set up a transfer usually takes less than 60 seconds.
Iāve used the physical card to withdraw in Spain, Ireland, the UK & Mexico with zero issues. Itās been significantly less hassle than a Canadian bank card.
You can also easily transfer any leftover money back to your bank account when you get home.
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Thatās all great info, thanks!
Do you have to look for any specific symbol on the ATM machines?
Also, Iām still trying to understand how it works.
I have connected my bank account now and I think I can transfer CAD into Wise.
Do I have to convert it to Euros on the Wise website before I use the card to withdraw money at an ATM in Italy?
So long as you have funds in any currency in your Wise account, Wise will let you take the funds from an atm in the currency of the country youāre in.
Itās a truly 21st C way to bankā¦
OK thanks. And what is the purpose of converting funds to other currencies when youāre in the app then?
Sorry for all the questions but Iām just trying to wrap my head around it. 
Instead of buying pesos for exemple from your bank with the exchange rate, you have them on your card.
Personally, I have an American bank account and I use Wise to transfer Canadian money into that US account so I can pay my American Credit card.
The purpose (for us) of converting to other currencies is so we can get the best rate possible. We travel a lot and a 1% movement in currency can make a very big difference.
No, I donāt believe you need to look for a specific symbol on the machine. Just looking at my card now and the only symbol it has on it is the Visa logo. Itās basically a debit card thatās linked to one main multi-currency account.
The beauty of it is that you can add currency into your account whenever the exchange rate is in your favour, and pay much less for the transfer than you would at a regular bank or currency exchange. Then itās basically a prepaid debit card, which sends you a notification of every transaction and the currency it was in.
I have been using Wise for a couple of years now and really like it - it makes access to cash while traveling much easier and cheaper than traditional banking.