Can businesses refuse cash?

[Bird222]

Some businesses refuse to take cash is this legal?

 

[xeemzor]

In short, yes.

 

[Humpy]

Yes.

 

[rudeguy]

Yes













http://lmgtfy.com/?q=Can+businesses+refuse+cash?

 

[ISAslot]

Vending machines have been refusing certain forms of legal tender since their inception.

 

[Hugo Drax]

yes

 

[Carson Dyle]

Flipping that, we have one bar in town that doesn't take credit cards. It's always fun to watch what happens when someone goes to settle a $50 bar tab and they have only plastic in their pocket. It can get interesting.

 

[corwin]

Flipping that, we have one bar in town that doesn't take credit cards. It's always fun to watch what happens when someone goes to settle a $50 bar tab and they have only plastic in their pocket. It can get interesting.

Places like that piss me off, ran into a bunch of restaurants on Padre island that only took cash...but they were nice enough to have an ATM that charged an exorbitant service fee to use

 

[MetalMat]

Flipping that, we have one bar in town that doesn't take credit cards. It's always fun to watch what happens when someone goes to settle a $50 bar tab and they have only plastic in their pocket. It can get interesting.

My uncle owns a bar and he quit taking credit cards many years ago and says it was easily one of the best moves he has made for his bar.

 

[corwin]

My uncle owns a bar and he quit taking credit cards many years ago and says it was easily one of the best moves he has made for his bar.

Much easier to "adjust" the books when it's all cash:awe:

 

[MetalMat]

Much easier to "adjust" the books when it's all cash:awe:

Lol. Well his main reason was because the college kids were constantly opening & closing these rinky dink 2-3 dollar bar tabs with credit cards so he put an end to that. There is an ATM right next to the entrance and a sign that says "we don't take credit cards"

 

[highland145]

I don't take cards because I have to eat the fee. I'm sure I'll have to in the future. I'll just raise my rates on everyone.

 

[corwin]

Lol. Well his main reason was because the college kids were constantly opening & closing these rinky dink 2-3 dollar bar tabs with credit cards so he put an end to that. There is an ATM right next to the entrance and a sign that says "we don't take credit cards"

I would think it would be easier to run a card then make change...and IIRC the fees are by $ amount and not per transaction so that wouldn't make any difference...so does he get a cut of the ATM fee?

 

[xeemzor]

I don't take cards because I have to eat the fee. I'm sure I'll have to in the future. I'll just raise my rates on everyone.

At least offer some kind of cheap online payment method for folks like me who don't carry cash.

 

[Mixolydian]

Much easier to "adjust" the books when it's all cash:awe:

Exactly. That's why businesses love cash.

 

[MetalMat]

I would think it would be easier to run a card then make change...and IIRC the fees are by $ amount and not per transaction so that wouldn't make any difference...so does he get a cut of the ATM fee?

Well I don't know the ins and outs of his business I'm just going by what he told me. There has to be a reason that some stores and gas stations have a minimum amount for credit card transactions.

 

[highland145]

At least offer some kind of cheap online payment method for folks like me who don't carry cash.

You're assuming I would make you a loan.





Either way I'd have to eat the fee or raise the interest.

 

[highland145]

I would think it would be easier to run a card then make change...and IIRC the fees are by $ amount and not per transaction so that wouldn't make any difference...so does he get a cut of the ATM fee?

Might be more likely to tip if they get small change back. Beats paying the 2.75% charge.

 

[shortylickens]

Yes. Most car dealerships wont take cash, they dont like having that much laying around.
Even if they do, they'll report you to the IRS or homeland security.

 

[Carson Dyle]

Lol. Well his main reason was because the college kids were constantly opening & closing these rinky dink 2-3 dollar bar tabs with credit cards so he put an end to that. There is an ATM right next to the entrance and a sign that says "we don't take credit cards"

My regular bar had to deal with exactly the same thing, so they put a $10 minimum on CC transactions. If I'm not mistaken, most CC companies frown on this practice, but they've been doing it for years. Again, it makes for interesting situations ... some kid buys a $2 beer, tries to pay with a card, so he ends up buying a couple of shots and spending another $8-12 to make up the difference.

 

[corwin]

Well I don't know the ins and outs of his business I'm just going by what he told me. There has to be a reason that some stores and gas stations have a minimum amount for credit card transactions.

Good point, maybe there is some sort of minimum fee before it just goes to a percentage of the transaction...

Exactly. That's why businesses love cash.

Wait staff too...

 

[shortylickens]

Also the more obvious one is a lemonade stand not taking hundreds. Stuff like that.

 

[corwin]

My regular bar had to deal with exactly the same thing, so they put a $10 minimum on CC transactions. If I'm not mistaken, most CC companies frown on this practice, but they've been doing it for years. Again, it makes for interesting situations ... some kid buys a $2 beer, tries to pay with a card, so he ends up buying a couple of shots and spending another $8-12 to make up the difference.

Your bar serves children

 

[BurnItDwn]

Ehhh business that "don't take" so and so generally risk losing revenue or potential customers, as well as possibly upsetting or disenfranchising some customers. Its a balancing act of "will the lost business balance out whatever the gains are" and for some industries, it makes sense to not take the plastic, for others, it makes sense to not really bother too much with cash ...

 

[Carson Dyle]

Might be more likely to tip if they get small change back. Beats paying the 2.75% charge.

I recall a bar back in the mid or late 80s that had 90 cent 16oz drafts. You can imagine how many 10 cent tips the waitresses and bartenders got.