Merchants who don't take cash (grocery, presents, cashiers, bill)
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But have you heard of stores that don't take cash?
Everyone has heard about counterfeit money. That wasn't really the question.
To answer your question, I have heard of stores that do NOT take cash. However, I cannot recall if I've ever seen such a place in person. Perhaps there were a few at a mall years ago.
That said, I still see far more places that take cash only vs. no cash whatsoever.
Read an online article about some of the pros and cons of doing no cash....
+don't have to worry about associates and customers swiping cash from a register
+don't need to count the cash at the end of the day
+also don't need to physically carry it to the bank
+transactions are already stored electronically.. can have metrics, and don't need to enter them in somewhere else
+many customers have cash back, or reward points to get something "extra" out of it anyways
+not having to have a physical cash register saves space and costs (many places that take credit card have moved on to a tablet mounted on top of a stand. Has a smaller footprint)
+don't have to make change
+don't have to deal with coins
-credit cards charge merchant fees, which get passed onto consumers
-not everyone has credit cards
-no option to pay cash skirt some sales taxes
-systems can go down
Quote:
Originally Posted by hawk55732
I have heard of stores doing it. I am just wondering how they can legally do it. It says right on the money that its good for all debt, public and private.
I'm sure you're referring to that statement "This note is legal tender for all debts, public and private"... It turns out that was only for certain federal or related transactions. The typical American businesses was never bound to that, and they're free to set whatever payments they'll accept.
Last edited by ackmondual; 09-10-2016 at 03:52 PM..
Do they have a sign on the front of the store: "We don't take cash - credit or debit cards only, so don't rob us"?
When you have cash, folks can try to get into the register and swipe it. Locking it helps, but then you'd need to make sure you do so. If you do lock it, it's an extra inconvenience, even though it's in the name of security. As for more extreme attempts, armed or otherwise forceful robberies will result in looking for cash stashed somewhere.
Granted, I'm sure there are folks who could hack the funds, but AFAIK, that's more difficult than swiping cash.
I see signs like these all around. I was in retail for over 30 years, never had a robbery or stolen cash. Keep register in secure area, locked, and only available to employees deters problems. Our cash intake was far higher than credit card intake.Where I get gas the station offers .03 cents discount for cash.
I haven't encountered that but I could see it happening. It seems strange for an ice-cream store.
I don't like to use my card for small purchases. I would rather use cash and not everybody has a debit card or credit card. Believe it or not some people don't have a bank account.
They might want an ice cream cone but they will have to go down the street.
Frankly, I would go down the street too, unless they had really good prices, or really good ice-cream.
That policy is a no-go in my book for ice cream. That is almost like treating all customers as counterfeiters and con artists and that creates an unfriendly atmosphere.
An ice cream store in my area doesn't take cash. The owner said everyone uses debit or credit cards and he's afraid that cash could be "counterfeit", so he doesn't take it. Has anyone else heard of this?
It's a polite way of saying he doesn't trust his employees, or the IRS.
If I'm a shady ice cream server, I'd pocket every cash customer's proceeds and sell the ice cream without ringing it up. Nobody does an inventory count of how many scoops are left in a bucket, and once it reaches a certain age the remainder of the ice cream may likely be tossed as spoilage.
If I'm a shady IRS auditor, I'll go to the shopkeeper and say, your receipts match your credit card billings, but nothing more. You must have had cash sales, and the guy is in trouble trying to prove something didn't happen. Unless the overall policy is no cash sales.
I have never seen it where I live---I have only seen the opposite---merchants who only take cash. And I live in a very credit card/debit card heavy area.
We don't have places take checks around here.
I've also seen places that do not take more than $20 bills, like the McDonald's near me.
The only discounts I see for paying with cash are gas stations. And mechanic shops.
The major bulk-food store chain in our region does not take credit cards, but accepts only cash, checks and debit cards. People often make huge purchases there, with two people marshaling three heaping carts through the line.
It's a polite way of saying he doesn't trust his employees, or the IRS.
If I'm a shady ice cream server, I'd pocket every cash customer's proceeds and sell the ice cream without ringing it up. Nobody does an inventory count of how many scoops are left in a bucket, and once it reaches a certain age the remainder of the ice cream may likely be tossed as spoilage.
If I'm a shady IRS auditor, I'll go to the shopkeeper and say, your receipts match your credit card billings, but nothing more. You must have had cash sales, and the guy is in trouble trying to prove something didn't happen. Unless the overall policy is no cash sales.
I am still trying to figure out what this guy is doing, but I'm stumped for an answer. There must be a reason behind it. Also, he is a small, independent business owner. Not part of a franchise or chain.
I just know I'm not going to use a credit card to pay for a $3 ice cream serving.
I just know I'm not going to use a credit card to pay for a $3 ice cream serving.
Why?
What difference does it make to you?
$3 is $3 no matter whether it is with cash, credit, or debit.
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