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I think if a store is located in a high crime area, it's also likely that people who live in that area are low-income and may not have credit or debit cards. So if a business rejects all cash, they could wind up going out of business.
The ice cream store is located in an area of town that is very low crime, there have never been any robberies of businesses in this area since I've lived here.
I like the gas station on a busy street in a nearby city that has 2 prices for gas posted on a big sign.
The top price is the same price as any other chain on that busy street.
The bottom price is 3 cents lower and reads....CASH PRICE
His smaller station is so crowded I usually can't wait in line to get his discount.
He and his customers love his policy on accepting cash and offering a discount.
Why would anyone want to wait in longer lines, and then spend more time on their payment just to save 3 cents per gallon? That's insane. It's not like it's 50 cents per gallon... it's 3.
I agree that in the case of ice cream you will walk away. If you want to send by Fedex you might have to either load the card or use UPS or post office.
I help a person with his liquor store business. It has high risk for armed robberies and many a business owner or seller has died from gun shot wounds. Making such a business card only will mitigate the risk. The thieves want cash, not a liquor bottle.
When we look at the sales 60 % are sold to bars who pay by cheque or an electronic form of payment. Of the remaining 40 % store sales 50-60 % is via cards and 40 % is cash. The cash buying public may not switch to a card in 50 % of cases. That non switchable portion is still significant that the owner persists with cash option, with all the hassles and risk of having cash transactions. A small bonus is the amount saved by not paying the 2 % to the credit card company.
Well being that the great minds at FedEx have decided to put the closest office to me over an hour and a half drive away, I have no issue using UPS or USPS, other than they are both incompetent, but then again so is FedEx.
Why would anyone want to wait in longer lines, and then spend more time on their payment just to save 3 cents per gallon? That's insane. It's not like it's 50 cents per gallon... it's 3.
I have always gone in to pay, even when I did have a debit card that I regularly used.. I don't want the pumps putting the $50 hold on my card when I only put in $20 of gas. Every one of the pumps around here do that stupid crap when you pay at the pump. I'll pass at the pump and pay inside.
Why would anyone want to wait in longer lines, and then spend more time on their payment just to save 3 cents per gallon? That's insane. It's not like it's 50 cents per gallon... it's 3.
The place I get my gas at has a cash discount, but I always just pay at the pump with a card because its much more convenient. I filled up today, I think I had about 11 gallons, so I miss out on saving 33 cents. Not that big of a deal. And not worth having to park at a pump, walk over to the store, wait in line for a cashier to take my money, walk back to the pump, pump my gas, walk back to the store, wait in line for the cashier to give me my change... I've never actually pre paid in cash... is that how it works? Or do you have to pay exact? Like today my total was a little under $20, I wouldn't want to go through the hassle of getting 20 cents back. And that would pretty much be what I saved by paying in cash.
And now that I think about it, I think the discount is if you buy a car wash, not if you pay in cash. So I would waste all that time paying for my gas in cash, and not even save anything.
I've never actually pre paid in cash... is that how it works? Or do you have to pay exact?
You tell them how much you want and they set the pump to cut off when you reach that amount. If you estimate wrong on how much your tank will hold you might need to go back to get your change. I think most people like me who pre pay generally have a good idea how much to spend. If I'm off it's usually such a small amount I don't bother with going back for it, usually under a quarter or so.
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