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Old 01-08-2015, 08:58 AM
Location: Southeast, where else?
3,914 posts, read 4,207,854 times
Reputation: 5802


Originally Posted by FBJ View Post
I have been able to save more money by not carrying cash for years but sometimes I run into a issue when a store wants me to withdraw money out of my account because of the "$5.00 Minimum" for credit/debit card use

I just feel that if I was able to use my card to buy a bagel and juice for $2.20 instead of taking out $10 due to the $5 minimum I would have even more money saved. So should how should i deal with these types of stores? The problem is the store is in the same building I work in and nothing else is closer.

Can't blame them. CC fees are getting expensive for retailers (some). 2.75%. For Amex it's 3.5% or even more. Multiply that times say, $1,000 in purchases daily. The retailer is eating $27.50...daily....multiply that by 30 days....what? $800 plus per month in "fees".

Sure, they can bury most of it in the product but, there is also admin costs. The only reason they charge the minimum is to help keep a profitable margin and offset the fees. Seems that a real upstanding shop (not) would offer a discount for cash or do the pre-paid thing as the other writer mentioned.
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Old 01-08-2015, 09:28 AM
1,619 posts, read 1,908,387 times
Reputation: 1747
There are costs associated with accepting cash as well. Someone has to count it, someone has to deposit it in the bank and there's always the risk of being robbed.
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Old 01-08-2015, 10:08 AM
Location: Florida and New England
1,224 posts, read 1,408,691 times
Reputation: 1658
Originally Posted by mathjak107 View Post
it drives me nuts standing in line behind someone making a 2 buck purchase with a credit card.

many times it has to redial a few times as well as taking at least 2x longer compared to slapping down two bucks. on an active checkout line that eats up alot of employee time.

i wish all stores had min charges. it is not even understandable to me how someone could even leave the house with no cash.
Lots of people no longer carry cash.

I also think that credit cards are much faster than cash. At the coffee shop yesterday, the woman in front of me decided to count out exact change for her latte. Literally took over a minute. My turn: credit card was swiped, and the receipt came out within two seconds. Sign and leave. (Sometimes no signature is even necessary).
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Old 01-08-2015, 11:15 AM
Location: Massachusetts
9,464 posts, read 10,196,053 times
Reputation: 13259
Originally Posted by duster1979 View Post
Or, for that matter, to take your time deciding what lottery tickets to buy after your other merchandise has been rung up, or try to decide if you want one pack of smokes or two, or to ask for a discount on a damaged item.
Why do people do this??

Frequently i'm behind some individual who buys a large amount of scratch tickets, who proceeds to begin scratching the tickets the second they receive them, while still choosing an additional lot of tickets. So by the time he's received every ticket he initially wanted, he's scratched off maybe 25% of them, has winners and is already asking to cash in the winners to choose another batch of lotto tickets.

I was once behind a guy who repeated this 3 times with waiting customers behind them.

My primary reason for mostly using cash.... I'm a coin collector. Handling cash just gives me a chance to cherry pick out some goodies. I still find silver coins and some unique bills that can be sold for a premium. Always funny when a 16-year old coffee shop worker remarks that a coin "much be made out of aluminum or something". Yup it's aluminum, now give me that $3 quarter please.
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Old 01-08-2015, 12:34 PM
Location: Texas
43,434 posts, read 52,425,333 times
Reputation: 70406
Many places no signature if it is less than $50.
No receipt unless you ask for it.

Way faster.
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