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Would you shop at a store or restaurant that refuses to take cash?

Community Leader
Valued Contributor

Re: Would you shop at a store or restaurant that refuses to take cash?

joe8185 wrote:

The last time I visited my local BoA branch in person was last month, to get fixed a problem at a local store where my debit card's chip wasn't reading properly and caused it to be charged several times without displaying a completed transaction. As it turns out, the chip itself was wearing out - it finally gave up the ghost this past weekend and I've had to order a replacement card. I don't think I've seen a paper paycheck in at least 15 years myself, it's all been direct deposit.


I work for the local county, you can't get paid by paper paycheck, that's called "non-compliance" with county policy and is subject to disciplinary action - you have to have a bank account for direct deposit to get paid.


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Message 21 of 37
Valued Contributor

Re: Would you shop at a store or restaurant that refuses to take cash?

I work for the local county, you can't get paid by paper paycheck, that's called "non-compliance" with county policy and is subject to disciplinary action - you have to have a bank account for direct deposit to get paid.

 

....and yet over 20% of the population is "unbanked" including those with jobs. I'm not a bleeding heart by any means, but to force cash only or electronic payment (as far as paycheck or transactions) seems to pour salt in the wound of those that say "doesn't effect me...".  

Message 22 of 37
Community Leader
Valued Contributor

Re: Would you shop at a store or restaurant that refuses to take cash?


pipeguy wrote:

I work for the local county, you can't get paid by paper paycheck, that's called "non-compliance" with county policy and is subject to disciplinary action - you have to have a bank account for direct deposit to get paid.

 

....and yet over 20% of the population is "unbanked" including those with jobs. I'm not a bleeding heart by any means, but to force cash only or electronic payment (as far as paycheck or transactions) seems to pour salt in the wound of those that say "doesn't effect me...".  


I suppose there are ways around having a bank account, like Amex/Walmart Bluebird, if it has a routing # & account # it would work, but those who don't have a bank account are unlikely to know about alternatives like that. A couple years ago there was controversy over some McDonald's franchisees paying paychecks only through reloadable debit cards issued by Chase. The employees got hit with ATM fees when they got cash, and Chase charged a $5 fee when getting cash back at a cash register, normally free for debit cards. And if the employee lost the debit card Chase hit them with a $15 replacement fee Paying bills online with the card was a 75 cent fee each time, and just checking the balance on the card was a $1 fee. A couple state courts ruled that paying employees only through debit cards was illegal, and I think the practice is no longer allowed anywhere. 


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Message 23 of 37
Frequent Contributor

Re: Would you shop at a store or restaurant that refuses to take cash?

Absolutely. 


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Message 24 of 37
Established Contributor

Re: Would you shop at a store or restaurant that refuses to take cash?


DaveInAZ wrote:
joe8185 wrote:

The last time I visited my local BoA branch in person was last month, to get fixed a problem at a local store where my debit card's chip wasn't reading properly and caused it to be charged several times without displaying a completed transaction. As it turns out, the chip itself was wearing out - it finally gave up the ghost this past weekend and I've had to order a replacement card. I don't think I've seen a paper paycheck in at least 15 years myself, it's all been direct deposit.


I work for the local county, you can't get paid by paper paycheck, that's called "non-compliance" with county policy and is subject to disciplinary action - you have to have a bank account for direct deposit to get paid.


Smiley Surprised

 

(I wish this forum had an "astounded" or "jaw-dropped" smiley.)

 

I really didn't know that there were at least some places you could get disciplined nowadays if you refused to take direct deposit these days...

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Message 25 of 37
Contributor

Re: Would you shop at a store or restaurant that refuses to take cash?

I don't know if i woulnd't shop there but I would like to know ahead of time.  It would really suck to eat my dinner only to find out they don't take cash and that is all I have on me.



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Message 26 of 37
Valued Member

Re: Would you shop at a store or restaurant that refuses to take cash?

I wouldn't care one way or another and be more concerned about the food and service than how they accept payment.

 

There will of course be people on both ends of the spectrum on this discussion and I think certain establishments would have a very difficult time going "cashless" anytime in the near future. Can you imagine McDonalds adopting this strategy? 

Message 27 of 37
Valued Contributor

Re: Would you shop at a store or restaurant that refuses to take cash?

Direct deposit/direct payment mandatory is very common. For our biz over half is incoming wire or ach paymnets. It is much cheaper to ach a payment than send a check for a biz. 

Message 28 of 37
Valued Contributor

Re: Would you shop at a store or restaurant that refuses to take cash?

No but I would and have avoided patronizing establishments that do not take CC. I rarely use cash anymore. 


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Message 29 of 37
Regular Contributor

Re: Would you shop at a store or restaurant that refuses to take cash?


pipeguy wrote:

It's one thing if you choose to use cards, but this seems like a "bribe" to force a merchant to not accept cash whereas the bill says on it "this note is legal tender for all debts public and private" which would include when the check was presented after a meal at a restaurant (aka a "debt").  There are an awful lot of people that don't have a checking account, let alone a credit card. Note too that EBT cards can not be used for prepared meals, so is Visa forcing a large part of the population to go buy "gift cards" ?

 

I can also see the wait staff having 100% of their tips now reported and reduced due to withholding and swipe fees. For those that only use cards, no big deal, but for those that don't or won't use cards you are telling them they are not welcome even with $1000 cash in their pocket. Personally for me and I have a pocketful of cards I would avoid any merchant that told me my "actual money" was no good.

 

Just imagine the guy that takes his date/wife to a fancy restaurant and drops a couple hundred on dinner and goes to pay with cash - sorry sir we don't accept cash - that's all I have is cash - sorry sir we don't accept US currency (?) Guy goes to walk out after they won't take his cash - restaurant calls the cops, customer says I tried to pay and they rejected my CASH, cop goes huh?  You think a judge is going to tell this poor dude, I sentence you to apply for an AmEx and a Visa and when you get approved you have 72 hours to pay the restaurant, and then you can take your "dirty cash" and sent it to the credit card company.

 

This Visa "policy" (bribe) is going to get tossed by the courts IMO as an unfair business practice. . 

 

 


 

Your hypothetical is hilarious and of course very persuasive.

 

But of course it wouldn't be implemented like that, at least in the long run; you would only be seated at a table after having placed a reservation through an automated system with a an approved hold to a valid credit card.

 

And any number of web- or app-based businesses already work in just that manner.

 

Message 30 of 37