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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.
Exactly. Look no further than amazon go stores. Friction free.
I know a 99 cents store that has separate registers for cash and cards.(Talk about potential for tax evasion!)They have a $10 minimum if you want to use a card.
Is it legal for a business in the United States to refuse cash as a form of payment?
Section 31 U.S.C. 5103, entitled "Legal tender," states: "United States coins and currency [including Federal reserve notes and circulating notes of Federal reserve banks and national banks] are legal tender for all debts, public charges, taxes, and dues."
This statute means that all United States money as identified above is a valid and legal offer of payment for debts when tendered to a creditor. There is, however, no Federal statute mandating that a private business, a person, or an organization must accept currency or coins as payment for goods or services. Private businesses are free to develop their own policies on whether to accept cash unless there is a state law which says otherwise.
I know a 99 cents store that has separate registers for cash and cards.(Talk about potential for tax evasion!)They have a $10 minimum if you want to use a card.
the one on 3rd avenue, across from the firehouse near taino towers lmaoooo
I know a 99 cents store that has separate registers for cash and cards.(Talk about potential for tax evasion!)They have a $10 minimum if you want to use a card.
$10? Around my way the minimum is $5 for debit card, $10 for credit card in those types of stores. But who nowadays is using a credit card to go shop at a dollar store? Think.
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
I don't like businesse that are cashless, but that is their choice and they shouldn't be forced to accept cash. A lot of businesses went cashless to reduce employee theft.
…not accepting cash?
Maybe it has to do with the different world we live in, the technology world.....
. . .and for people,
that like to swipe~n~go [or are very use to it] ---- and other issues brought up
(cuts down on employee theft$, saving transaction fees. . .)
Irreguardless – I wonder if businesses will lose business? Probably not. They’ll get even busier.
. . .
. . .people will know “it’s a swipe~n~go place, no waste of time “people paying with cash” standing in line….
…..I’ll just be in~n~out in less than 42-1/2 seconds getting my muffin & salad & latte. . .
….As some folks said here – “I rarely carry cash...”
the convenience of it. i love self-check-out and pay with legal tender... THAT is cool (when there are lines....and nobody's using the self-checkout, why not) ! in~n~out in 42-1/2 seconds..
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