how is cash too expensive?? huh?

Tor3 7 days ago | parent | next [-]

_Handling_ cash is expensive. I never thought of that until my SO started working in a shop. To and from the bank, with stacks of coins and notes.. and there's presumably much more than that for larger firms. In general I rely my statement on what merchants themselves are saying. Newspapers are writing interviews with merchants who (illegally) have stopped accepting cash, even though it's legal tender. "It's too expensive. It reduces our bottom line." That kind of thing. When I look around I see "Cards only" a lot of places.

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ceejayoz 7 days ago | parent [-]

> Newspapers are writing interviews with merchants who (illegally) have stopped accepting cash, even though it's legal tender.

That's legal. https://www.federalreserve.gov/faqs/currency_12772.htm

Legal tender applies only to debt/creditor relationships.

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Tor3 6 days ago | parent [-]

The USA is not all the world. The US rules don't apply in other countries. Rules differ. In many countries _businesses_ have to accept legal tender. Including in my own. That's why it's such a big deal when businesses actually still refuse cash.

	▲	ceejayoz 6 days ago \| parent [-]
		https://en.wikipedia.org/wiki/Legal_tender > Legal tender is a form of money that courts of law are required to recognize as satisfactory payment in court for any monetary debt. A country may separately require businesses to accept legal tender, if they feel like it. https://en.wikipedia.org/wiki/Legal_tender#Status_by_country would appear to indicate this distinction is very common in the developed world.

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ubercow13 6 days ago | parent | prev | next [-]

Of course cash is expensive, you have to handle it, count it, transport it. Haven't you ever seen those heavily armoured cash delivery vehicles? I mean just think how inefficient cash obviously is in every aspect of how it works compared to modern tech.

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SJC_Hacker 6 days ago | parent | prev [-]

Time spent totaling it, transporting it to from bank

Having to buy a register / point of sale which can handle it

Hoping you employees don’t pocket a few bills here and there

Hoping you don’t get robbed