Bill Forcing NYC Businesses to Accept Cash Likely to Pass (York: sale, credit)
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I love cash. I don't carry it around much (only because I don't like paying ATM fees or going to the bank), but I would hate a cashless society.
I was in Germany recently and they're very big on cash. Most bars in Berlin don't even take card. Which I think is a good thing, because the prices were very low for a wealthy country.
German businesses don't like taking credit card/electronic payments because Germans overall don't like to pay taxes, which are quite steep compared to say USA.
Cash is king for obvious same reasons it always has been; bit off the top can always be skimmed away....
German businesses don't like taking credit card/electronic payments because Germans overall don't like to pay taxes, which are quite steep compared to say USA.
Cash is king for obvious same reasons it always has been; bit off the top can always be skimmed away....
Yeah, they have a 19% VAT (which is pretty much the norm for Europe).
However, I still found things to be cheap there. I had a nice Italian dinner (soup + main course+ dessert + drink) for about 19 Euros, which I thought was a great price.
Their ATMs offered the option to withdraw 1000 Euros, I thought that was interesting.
Besides, accepting cash doesn't cost businesses anything. There's no "transaction fee" like there is with cards. Apparently several other cities have passed similar legislation. https://www.cbsnews.com/news/san-fra...arms-the-poor/
Cash does cost the business. Employee theft, robbery, denomination management, deposits, etc. are all things that have to be handled. For small businesses that are primarily card, adding the overhead of handling cash isn't trivial.
Gas station attendants often carry thousands in cash. Common robbery targets.
A few server tabs disappearing every day can lead to a lot of lost money. Or hours every month reconciling tabs and cash in drawer.
How often to go to the bank to restock $1's and $5's? How much cash to keep on hand?
There's a reason many small businesses don't take cash, even though they have to pay a processing fee for card and they can't scam taxes.
There's a reason many small businesses don't take cash, even though they have to pay a processing fee for card and they can't scam taxes.
On the other hand, I know a few local small businesses (like my local hairdresser) that only take cash. Then there are some small businesses that won't take a credit card or even a debit below a min. amount and that means for small amounts you have to pay in cash.
On the other hand, I know a few local small businesses (like my local hairdresser) that only take cash. Then there are some small businesses that won't take a credit card or even a debit below a min. amount and that means for small amounts you have to pay in cash.
Yes, because they already handle the overhead of managing cash, they don't want to also pay cc processing fees. That's why so many places are cash only (that and tax evasion). Or cc only. Ideally not both. Accepting both means having to deal with both.
Tons of places all over the world still use cash - travel to Europe or Asia lately? I'll pay cash when it's on hand when patronizing the restaurants in my area for the reasons Cida stated - it helps them keep their own overhead down, and don't mind when my local bodega or Thai joint charges me a little more to pay by credit - it's "free" for you, but not for THEM. Keep using credit if you enjoy being tracked and followed <shrug> Makes sense to me for big purchases like air tickets or electronics, a plate of basil chicken, not so much.
Cash is *not* returning as "king" or anything close.
Only people see using cash are criminals and middle-aged to old people who for reasons of their own won't use cards.
You stand behind them in a long checkout line at supermarket, DR, RiteAid, etc... when they finally get up to register its "how much was that?", then out comes some old billfold or change purse from back in the day and they begin counting out bills. But wait there's more "I have three pennies, two nickels, ......" All this while line is growing longer and longer. No one has time for that nonsense.
Parking meters don't take coins, tolls don't take money any longer either, and those are run by government agencies. So how can it be fair to make businesses accept cash?
Parking meters in NYC still take cash, you could not be more wrong.
Cash tolls still exist outside of this little bubble of NYC.
Consumer card info from stores many times have been stolen from hacking rings to individual scammers employed by the stores. Don't try to paint cards as flawless.
Cash is *not* returning as "king" or anything close.
Only people see using cash are criminals and middle-aged to old people who for reasons of their own won't use cards.
You stand behind them in a long checkout line at supermarket, DR, RiteAid, etc... when they finally get up to register its "how much was that?", then out comes some old billfold or change purse from back in the day and they begin counting out bills. But wait there's more "I have three pennies, two nickels, ......" All this while line is growing longer and longer. No one has time for that nonsense.
Parking meters don't take coins, tolls don't take money any longer either, and those are run by government agencies. So how can it be fair to make businesses accept cash?
Yeah Bugsy you must be living in the future, or at the very least, another city. Your first mistake is even frequenting places like Duane Reade or RiteAid (those haven't all died already?). Many of them will start to get self-checkouts so you can skip the cash-users eventually. If you didn't have time for that nonsense, why not order everything online or patronize a place that provides order-ahead+pickup?
It's very "fair" to "make" businesses accept cash. Most businesses I know LOVE it, which include the wholesalers of produce/restaurant supplies in the Industrial area adjoining my workplace, numerous Autoshop outfits, several stone and tile product distributors, innumerable restaurants where I live etc...
Quote:
Originally Posted by blackconverse
Parking meters in NYC still take cash, you could not be more wrong.
Cash tolls still exist outside of this little bubble of NYC.
Consumer card info from stores many times have been stolen from hacking rings to individual scammers employed by the stores. Don't try to paint cards as flawless.
Agreed. CC info leakage/theft/etc creates far, far more problems than cash ever did.
I used to go an awesome tea place. I'm not going to use my card for a $2 tea, that's just ridiculous.
They switched over to card only. Guess who stopped going.
They're out of business now.
I don't see how it's ok to force customers to pay a certain way … even cash only. Cash only places are a bit better in that anyone can have cash … credit cards not everyone has, either they're too young or they have bad credit … it alienates a lot of potential customers.
It's not fair to deny someone service IMO just b/c they can't pay how you want them to.
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