So, moving forward with the details about which stores take cash. So that you can identify it.
Cash friendly shop or not: how can you recognize?
shopkeepers that want to accept cash will depict some kind of signboard or logos around their shops and on their websites if any. This will reflect their efforts as well as will make it easy for customers to recognize easily.
if there are any websites of shops so shops can update the websites as well so that customers can check before visiting the shop itself.
Some examples of such shops are Aldi, Coop, Asda, John Lewis, Lloyds pharmacy. These are some cash-friendly shops.
Cash losing importance?
2.5Million people are using cash for each payment whereas 10 million people are not yet ready to accept the change or feel uncomfortable with it. ( www.which.co.uk). So, it’s just perception and willingness to use cash or digital mode. Another survey has also depicted that 84% of people want the importance of cashback and shops should accept.
Denying the cash- dare by shops?
sweet green – participated in “credit card diet day”. This cash ban showed its effect and improved efficiency by 10 %. They promoted this as eco-friendly.
Disney – there are many options available to pay like a credit card, debit card, Apple pay, Samsung pay, google pay, Disney Magic band.
Starbucks – it is still trying to test and go cashless and accepting only plastic or mobile payments. Technology has become a part of one’s life according to it.
Refuse or accept the cash?
there is no law as such and it is also stated by Federal Reserve System. Business companies can accept any mode of payments and they are free to operate.
it also depends on the state as if your state or locality wants you to accept the cash so you can’t refuse it. Otherwise, be ready to face the punishments.
Problems are due to non-acceptance of cash: –
social exclusion
spending money on another payment mode
unavailable to everyone
lack of awareness especially among the elderly population
no bank accounts of some people
Stores not taking cash: tips to follow-
make aware of your policy to every customer through means as you think. Otherwise, it will affect the trust of the public.
shops can also quote the reason for the same policy as it will maintain the integrity of your shop
if you are not accepting the cash as mode then decide which model you are preferring like credit cards, debit cards, checks, mobile payments, gift cards.
making the payment mode as convenient as possible is very important. This is very important to see if it is working properly or not or not causing much delay in the procedure.
accepting the credit card as a mode can be costly for some small retailers as they have to pay a certain amount of part to the merchant of sale made.
Stores accepting cash: tips to follow-
recording the bill payment is very important through receipts or something like an entry book as it will keep you accountable.
you can’t just have left your cash in the register? So what you can do is that you can deposit a business bank account.
secure your cash as well as there is a threat of theft of money. For emergency purposes, you can give access to some employees to the deposit whom you trust.
Be aware of the fake money and also make aware your employees of it.
Conclusion:
Cash is a legally accepting kind of thing. So you can’t deny the fact that excluding cash means excluding many people who don’t have bank accounts and much knowledge about cybercrimes which is increasing day by day. So, it also acts as a safety net for some people.
- is cash a legal tender or illegal?
Ans. It is an accepted legal tender and not illegal
- does Disney accept the cash?
Ans. Some parts of it accept and some do not
- do plastics are accepted at shops or not?
Ans. Yes, and it also depends on state laws and locality laws.
