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A major discount store chain in White Plains has the signed linked below (picture won’t post). Basically, anyone who pays in cash get as his change a “merchandise return card.“ That means if he doesn’t do business with that store or another store in the chain, because the world loses the money. Does anyone think this is legal and/or fair?
I am pretty sure lawyers can/could/would find that out.
In short;
"Businesses are allowed to have an exact change policy. It's just like any other policy that they want to set up".
"The key here is that consumers should have the ability to make an informed decision. It’s in the best interest of a business to provide adequate notice to their customers before they make a purchase".
Sales tax is based on the sale of the product, so if you are selling that product and not giving back change, in essence, that product is more expensive, so it will mess up the ratio of the sales tax.
If the discrepancy is large enough, the Department of Revenue and the IRS could come looking for that money down the road.
But stores that give a gift card instead of a change aren't theoretically keeping it. So, that might be legal.
Although a sign informing customers about that practice should be posted.
However, there is no reason not to give change. Coin shortage is over.
There’s no cap on coin orders and the United States Mint is operating at full capacity to produce more coins. In 2020, the Mint produced 14.8 billion coins, a 24% increase from 2019, according to the Fed.
Many of the casinos in Las Vegas started doing something similar during the coin shortage. Essentially if you you went to a self-service cash out machine with a ticket for example that was $10.59 the machine gave you $10 in cash and a receipt for the 59 cents.
You can go to a cashier for your 59 cents but the casinos know all too well most people just toss those receipts in the trash, especially for small amounts.
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Quote:
Originally Posted by jbgusa
A major discount store chain in White Plains has the signed linked below (picture won’t post). Basically, anyone who pays in cash get as his change a “merchandise return card.“ That means if he doesn’t do business with that store or another store in the chain, because the world loses the money. Does anyone think this is legal and/or fair?
If a store ever does this to me, I will start to carry $2 in various change in the trunk. I will take the card, get change from the trunk and go back into the store with the card and appropriate change to add to $1. I end up losing or tossing all my cards.
If it is then it certainly shouldn't be , because this is one of the biggest examples of bogus business related underhandedness I've seen in a long time .
There probably never was a coin shortage. It was a made-up thing because younger people don't know how to count change these days.
There are a couple of reasons, but that isnt one of them, since technology still exist and POC/POSs count change for you .
However, people hoarding change as "Hard currency" is one of the reasons.
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