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I encountered a restaurant recently that refused cash, I walked out since I didn't have anything else on me as a payment option. Stupid. Never heard of that before. Cash is supposed to be the preferred payment method.
Then I went to FedEx / UPS / Western Union and was told that they did not accept cash ? ? I showed the clerk that statement written on my currency, and told him he legally had to accept my bill, and he still refused. I finally had to go out and get a money order to pay him.
So you found out you were wrong.
He was within his rights - and it is totally legal - to refuse cash.
I encountered a restaurant recently that refused cash, I walked out since I didn't have anything else on me as a payment option. Stupid. Never heard of that before. Cash is supposed to be the preferred payment method.
Just out of curiosity, how much was your bill? Also, did they post a sign stating they don't take cash?
And how long has that place been in business? I'm guessing they won't stay around very long if they don't take cash.
Depending on the time and transaction…..that store or restaurant might lose my sale also. But it's a decision the owner made.
USUALLY, I'll go ahead and put the purchase on my CC. But there was a time I didn't carry ANY CCs on me.
IF I had the cash on me and wanted to pay with that, having to put it on the card would be an annoyance. As I said it would just depend on how much I wanted whatever I had planned to buy.
I encountered a restaurant recently that refused cash, I walked out since I didn't have anything else on me as a payment option. Stupid. Never heard of that before. Cash is supposed to be the preferred payment method.
Quote:
Originally Posted by tassity22
Just out of curiosity, how much was your bill? Also, did they post a sign stating they don't take cash?
And how long has that place been in business? I'm guessing they won't stay around very long if they don't take cash.
Quote:
Originally Posted by selhars
Depending on the time and transaction…..that store or restaurant might lose my sale also. But it's a decision the owner made.
USUALLY, I'll go ahead and put the purchase on my CC. But there was a time I didn't carry ANY CCs on me.
IF I had the cash on me and wanted to pay with that, having to put it on the card would be an annoyance. As I said it would just depend on how much I wanted whatever I had planned to buy.
Food business ( whether fast food or restaurant ) is one of the highest in terms of losses from employee theft and wastage (and many times theft is disguised as food wastage). You cant have an inventory of a food item like a box of candy or a can of soda like you can in a store. So it makes sense to turn to all credit / debit card only.
Yes the employee can choose nto to ring the card up but that can be detected if it happens too often.
I have no problem with stores being cash-free, and hope the digital trend continues.
Credit Cards and other newer payment methods are much faster and that right there should be a benefit for merchants - they can move their lines quicker. I cannot stand waiting behind people counting out bills and nickles and pennies and/or waiting for change, when a CC swipe would have taken 10% of the time.
Just today, while waiting for something else, I walked next door to a McDonalds thinking I might get a small fry as a snack. There was only one cashier, and two people in front of me. The lady at the front had a ton of change out on the counter and was counting it out. After she finally finished, she goes "Oh wait, I forgot the 2 pies" and starts the whole cycle over. I didn't even wait - I just left, since I didn't have much time, and figuring it probably was healthier not to get that snack anyway. So they lost business because slow cash transactions resulted in poor customer experience.
Anecdotal? Sure, but exemplary of the expectations that are changing. People don't want to wait on inefficient processes, and can and will take their business elsewhere. And that's a valid statement way beyond the scope of merchants and CC's.
Also, why wouldn't I use a CC for a small purchase? I don't carry coins on me because it's a huge pain to keep them in my pockets. Thus, I'd always end up using bills and getting back change I don't want.
If a business needs to bump their prices up $0.10 or so to cover the flat fee portion, that's fine and I have no problem with it, but to me it's a matte of convenience. I'll buy the $2 item if they take CC; I won't buy it if they don't.
What their needs to be is pushback on the CC processing companies to eliminate the flat fees for small ticket purchases and have it be % only. Though maybe that just introduces new problems, not sure.
As a cashier in a dollar store (think Family Dollar, Fred's, Dollar Tree etc), I can tell you that cash itself is fine, but big bills on small transactions are not. DO NOT, and I mean, DO NOT come in and buy $2.43 of items and then spring a $100 on us, and most of all fail to ask if we have it.
"That's all I got"--TOUGH. Go to a bank first and break that sucker down. One person doing it is fine, but when you have 4-5 people an hour doing that, before you know it you're all but out of any usable bills for the rest of the business day.
Also a pain in the rump in terms of cash--having a bill that's $2.21 and the customer deciding they MUST MUST MUST pay with $5.21 or $10.21 but that you MUST make it something and 21 cents because getting back 79 cents is apparently akin to dragging an elephant uphill on an icy road. More specifically, it's not giving the 21 cents, it's searching through every pocket and every bag and every nook and cranny in one's car while the line is backing up vs having it pretty much ready within 5 seconds or so. That long line you see--this sort of thing is the reason why.
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