cancel
Showing results for 
Search instead for 
Did you mean: 

The problem with cashless restaurants

Senior Contributor

The problem with cashless restaurants

https://www.msn.com/en-us/money/smallbusiness/the-problem-with-cashless-restaurants/ar-BBJaSQI?li=BB...

 

I posted a thread on this "no cash accepted" Visa program previously, (7.12.17 Would you shop at a store or restaurant that refuses to take cash?) but this is a good article that looks at both sides.

 

Final paragraph: "It’s true that going out to restaurants isn’t a right. But in an era when an increasing number of restaurants no longer accept legal tender, it’s useful to think about who this system benefits most: the businesses and banks, at the expense of consumers."

 

 

Message 1 of 46
45 REPLIES
Moderator

Re: The problem with cashless restaurants

Forced cashless isnt a good idea, it cuts out a whole range of possible customers. There are people where I live that have a bank account just to cash their paychecks or receive their SS and they take it all out and pay cash for everything. I could go into other areas of the argument but this isnt the place for such arguments.


"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne

Message 2 of 46
Super Contributor

Re: The problem with cashless restaurants


@gdale6wrote:

Forced cashless isnt a good idea, it cuts out a whole range of possible customers. There are people where I live that have a bank account just to cash their paychecks or receive their SS and they take it all out and pay cash for everything. I could go into other areas of the argument but this isnt the place for such arguments.


Good point gdale6!

Starting Score: 829 Fico TU08
Current Score: 835 Fico TU08
Goal Score: 850


Take the myFICO Fitness Challenge
Message 3 of 46
Frequent Contributor

Re: The problem with cashless restaurants

I charge almost everything. Now and then when I am eating lunch alone at a small non-chain restaurant I do pay cash. Doing so because I know that using a CC I am costing the owner. I know of a couple of restaurants that do not take AmEx because of the swipe cost.

 


Message 4 of 46
Established Contributor

Re: The problem with cashless restaurants

Personally I operate as a cashless person. However my Dad has multiple bank accounts (won't use a debit card, writes checks for bills) and credit cards (only uses them for online purchases or travel) and he uses cash for all other purchases.    He would get up and walk out of a resturant that won't take cash, so that place won't ever get his business. 


FICO 8 Starting Score
,
Current Scores


Quicksilver SL $300 - CL $3,300, Discover SL $11,500 - CL $13,000, Amex BCE SL $6,000 - CL $18,000, Amazon Prime Rewards SL $8,500, Citi Double Cash SL $7, 900 , Lowes (AU) CL $13,000, State Farm Bank - Auto Loan
Message 5 of 46
Established Contributor

Re: The problem with cashless restaurants

Doesn't affect me personally since I use cash maybe once a month, but I can definitely see the downsides to forced cashless. Maybe one way to do it would be to offer some incentive to swipe instead? 

 

It's funny though because all the restaurants I frequent actually prefer cash, and even offer a 2-3% "cash discount" since they don't get hit with swipe fees. I suppose I need to go visit something more "upscale" and "posh". Smiley Very Happy



As of 6/21/18:

Message 6 of 46
Frequent Contributor

Re: The problem with cashless restaurants

I actually know of a restaurant that does not accept any CC payments. There is an ATM machine inside. The restaurant wins both ways: a fee from the ATM and cash that just might not be reported!


Message 7 of 46
Established Contributor

Re: The problem with cashless restaurants

Was this guy the owner? Smiley Happy

 

Austin Powers - Dr Evil



As of 6/21/18:

Message 8 of 46
Frequent Contributor

Re: The problem with cashless restaurants

You've been there???


Message 9 of 46
Established Contributor

Re: The problem with cashless restaurants

Smiley WinkSmiley LOL



As of 6/21/18:

Message 10 of 46