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lexapro · Jun 5, 2009, 05:40 PM

What is it with the trend of businesses and some government agencies not to accept cash? I am pretty sure the cash still says, "This note is legal tender for all debts, public and private". By public I assume it means to government agencies, and private it means to businesses and individuals.

I went to the DMV a few weeks ago and they have a big "NO CASH- ONLY CREDIT CARD OR MONEY ORDER" sign.

So- is physical cash being devalued?

SSharon · Jun 5, 2009, 05:43 PM

It is a government conspiracy to track what we spend our money on.

Dork. · Jun 5, 2009, 05:53 PM

It's legal tender for all debts. But buying something from a store is not a debt, it's making a purchase.

subego · Jun 5, 2009, 07:29 PM

Last time I went to the Secretary of State (our DMV), it was the opposite. No CC, cash or check only.

Andy8 · Jun 5, 2009, 07:40 PM

Some retailers refuse to accept cash as means to stop employees skimming from the cash takings. If every customer pays by credit/debit card it is easier to keep track of each transaction.

Chuckit · Jun 5, 2009, 07:59 PM

It's much harder to hold up a store and say "Put your hands in the air and call corporate and request a transfer of all your money to this account!"

sdilley14 · Jun 5, 2009, 08:10 PM

Neither the DMV nor city hall in my town accept credit card. I had to pay a couple parking tickets and renew my vehicle registration. Had to pay cash for everything. Annoying.

Dork. · Jun 5, 2009, 08:30 PM

Places that are cash-only do it because the don't want to pay any of the CC processing fees. They also tend to be organizations, like Government agencies, that have no problem finding people with guns to protect the cash.

Laminar · Jun 5, 2009, 09:28 PM

Originally Posted by Dork.

Places that are cash-only do it because the don't want to pay any of the CC processing fees. They also tend to be organizations, like Government agencies, that have no problem finding people with guns to protect the cash.

Who's talking about cash-only places?

ort888 · Jun 5, 2009, 10:23 PM

My stupid DMV only takes cash and they cost me $4 in ATM fees for nothing when they told me I had to pay more then I actually had to.

Sealobo · Jun 6, 2009, 05:27 AM

when paper cash becomes obsolete, i wonder what will happen to drug dealers and/or the whoring business.

ctt1wbw · Jun 6, 2009, 06:26 AM

I haven't figured out yet why Costco doesn't accept credit cards, but they'll accept checks?

OldManMac · Jun 6, 2009, 06:56 AM

Originally Posted by ctt1wbw

I haven't figured out yet why Costco doesn't accept credit cards, but they'll accept checks?

Costco does accept debit cards. The Apple stores won't take cash or checks for an iPhone purchase.

ctt1wbw · Jun 6, 2009, 07:04 AM

That's strange. No cash for an iPhone purchase? ATT stores must be different. I plopped down a couple of crisp photocopied 100's on the counter to buy mine. That was nice.

Cipher13 · Jun 6, 2009, 09:27 AM

Originally Posted by SSharon

It is a government conspiracy to track what we spend our money on.

Bingo.

moonmonkey · Jun 6, 2009, 09:47 AM

Originally Posted by Sealobo

when paper cash becomes obsolete, i wonder what will happen to drug dealers and/or the whoring business.

Octopus?

Oisín · Jun 6, 2009, 10:27 AM

Originally Posted by moonmonkey

Octopus?

Octopodes are far too slippery and slimy to be practical for cash purposes.

I predict seahorses.

Originally Posted by Laminar

Who's talking about cash-only places?

subego and sdilley14.

Art Vandelay · Jun 6, 2009, 11:56 AM

Originally Posted by ctt1wbw

I haven't figured out yet why Costco doesn't accept credit cards, but they'll accept checks?

They do, they just accept American Express only. It used to be Discover several years ago.

They only accept one, exclusive card to be able to get lower processing fees. They've made it a competition for the card companies to offer lower fees to have the right to be Costco's card of choice.

turtle777 · Jun 6, 2009, 12:35 PM

^^^ One more reason why I love Costco, and don't go to Sam's Club anymore.

Amex is clearly the better card over MC and VISA. Customer service, services and rebate programs are far superior with Amex.

Yes, I know, they charge the vendor a higher fee. Since I can't do anything about that, I stick with Amex in the meanwhile.

-t

hatehereyes · Jun 6, 2009, 01:07 PM

The only way I like to pay is with cash but I usually only take with me what I would need for the day.
but then again I don't have a debit or credit card.

turtle777 · Jun 6, 2009, 01:21 PM

Originally Posted by hatehereyes

The only way I like to pay is with cash [...]
but then again I don't have a debit or credit card.

By choice ?

Ever tried to get a rental car ? Good luck doing that with cash only...

-t

Wiskedjak · Jun 6, 2009, 02:06 PM

Originally Posted by turtle777

^^^ One more reason why I love Costco, and don't go to Sam's Club anymore.

Amex is clearly the better card over MC and VISA. Customer service, services and rebate programs are far superior with Amex.

Yes, I know, they charge the vendor a higher fee. Since I can't do anything about that, I stick with Amex in the meanwhile.

-t

Seconded. Amex is a very customer focused company.

ghporter · Jun 6, 2009, 08:29 PM

Not accepting cash is a security issue. Like Chuckit says, what are you going to get if you hold up such a place. On the other hand, ANY government office that accepts cash MUST cost a LOT more to run because of the physical security requirements for protecting the cash.

Fortunately for Texans, the "DMV" that handles drivers licenses IS our State Police (the Department of Public Safety or DPS for short). It would be a Very Stupid Thing to try to hold them up for their cash, considering how many uniformed, armed officers there are at each location, so this sort of physical security is not an issue. On the other hand, license plates are handled for the state by county tax assessors' offices, which DO take cash; they have at least a couple of Sheriff's deputies on hand all the time-people who could be out investigating crimes or enforcing traffic laws if they weren't there to keep idiots from robbing the place.

As for AMEX being a "more customer focused" firm, sure they are. They started as a travel agency, not a credit card company. But they are only customer focused so far; run into an issue with them that isn't as clear cut as their buyer protections or a billing issue and they tend to stumble a bit. On the other hand, while Chase is a frankly commercial, profit-oriented firm, they seem to understand that profits come from satisfied customers. They have been very good to us in a number of "issues," including notifying us of what turned out to be a fraudulent purchase using our Visa card number. We were not out a dime, got a brand new card (and of course new number), and they had our physical cards replaced in a couple of days.

EndlessMac · Jun 6, 2009, 08:58 PM

It has to be a security issue because most businesses I know prefer cash and hate the credit card fees and possible bounced checks. Large companies that get a lot of business would probably have more cash in the store then some banks if they only accepted cash so I can understand their security concerns. It's funny that you bring this up because most of the smaller businesses are the reverse and they prefer cash only.

Eriamjh · Jun 6, 2009, 10:20 PM

By not taking cash (only checks of CCs), they don't need to carry change.

It's a business decision. I guess the CC fees are offset by not having idiots giving incorrect change?

Cold Warrior · Jun 6, 2009, 10:26 PM

Aren't employees responsible for more theft than customers? Plastic seems an easy way to track inventories and ensure you're paid for them.

If you're a small business, it's easier to keep cash off of your books (reducing taxable income) than CC charges.

ghporter · Jun 6, 2009, 11:25 PM

Employees are responsible for more material loss to the employer, but not generally cash loss. On the other hand, employees are often the culprits in stolen credit card numbers-they have access to receipts (and not all US states require that some of the card number be redacted), plus they often have physical possession of the card as well. I feel MUCH better when I swipe my own card or at least see the clerk swipe it and then hand it right back.

Oisín · Jun 7, 2009, 06:09 AM

Originally Posted by ghporter

Employees are responsible for more material loss to the employer, but not generally cash loss. On the other hand, employees are often the culprits in stolen credit card numbers-they have access to receipts (and not all US states require that some of the card number be redacted), plus they often have physical possession of the card as well. I feel MUCH better when I swipe my own card or at least see the clerk swipe it and then hand it right back.

There are still a few (though thankfully they’re now very few) places here where an employee has to take my card to the back of the store to swipe it. My heart always jumps to my throat for a second or two when that happens, and I make a mental note never to pay by card again in that place.

Anywhere that doesn’t have a chip reader should be banned (and will be, in a few years).

Andy8 · Jun 7, 2009, 10:20 AM

Originally Posted by moonmonkey

Octopus?

Exactly.

ringo · Jun 7, 2009, 12:01 PM

Originally Posted by moonmonkey

Octopus?

Prairie Squid

kylef · Jun 7, 2009, 12:49 PM

Originally Posted by Dork.

It's legal tender for all debts. But buying something from a store is not a debt, it's making a purchase.

I'd argue that it is both. As soon as the item has been scanned, it will be removed from the store's inventory list on your basis .. the store may as well not have it at all now. You are in debt to the store for the good - but with cash, that debt is cleared immediately.

Anyway, cash can be troublesome. Taking an example from another thread, a mugger comes in: he has a choice of taking credit cards or cash. We can just cancel our credit cards.