Tell us something we don’t know.
- Thread starter dodge man
- Start date
ponytug
Super Member
Yes, that's right. Section 5103 and related statues.
Covered nicely in Must All U.S. Businesses Accept Legal Tender as Payment?
Basically, cash may be offered, but it is up to the seller to determine rules around the form of the settlement of the debt.
It would seem that the folks wanting to pay with cash at an entrance do not have a chance, but what do I know?
All the best,
Peter
Grumpycat
Elite Member
Plant life starts dying off with any reduction in CO2.
Thrives with any increase.
CO2 is good for life.
Grumpycat
Elite Member
"Good for any debt public or private"
Grumpycat
Elite Member
Is printed on the money.
"THIS NOTE IS LEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE"
That is not a "state by state" regulation.
Eagle1
Veteran Member
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Yet there is this
Is it legal for a business in the United States to refuse cash as a form of payment?
There is no federal statute mandating that a private business, a person, or an organization must accept currency or coins as payment for goods or services. Private businesses are free to develop their own policies on whether to accept cash unless there is a state law that says otherwise.Section 31 U.S.C. 5103, entitled "Legal tender," states: "United States coins and currency [including Federal Reserve notes and circulating notes of Federal Reserve Banks and national banks] are legal tender for all debts, public charges, taxes, and dues." This statute means that all U.S. money as identified above is a valid and legal offer of payment for debts when tendered to a creditor.
I think the relevant term is DEBT. It must be accepted as payment for a debt but anyone can refuse a SALE for cash since no DEBT exists at that point.
In my cast don't take cash I buy somewhere else out of principal. I prefer cash to card as payment to me since it means an extra ~3% of income.
It's been tough at times but I always do. When I was at the DMV registering my first motorcycle the clerk made a 10 dollar error in my favor. When I pointed it out to her she got flustered and couldn't fix it. Finally I returned her change, she gave me back my original money and we started over. Meanwhile I could hear the line behind me getting restless.
When I turned to leave I found that the woman behind me was a friend's mother, who also happened to work for my parents in the spring. She later told me that she had seen the entire thing and was wondering what I would so. 10 dollars was a lot more money in 1975...
Talk about positive reinforcement!
I've actually taken to charging my customers an additional 3% surcharge to use a credit card. Mind you, the things I'm selling range $5k - $60k each and individual transactions can be for multiple units, so 3% can be an appreciable amount for me to lose to credit card processing.
groundcover
Veteran Member
First time i was refused cash payment was at a parking lot in Newport. I was dumbfounded. The attendant implied they weren't trusted with cash, we were going to dinner and I might get a bit cranky when hungry. I said you can't be trusted with cash but I should trust you with my credit card ? I said it's printed right on the bills for legal tender ! I was about to leave but wife stuck out her card and gave me the stop it scowl.
Next morning at the B&B we were talking to one of the other guests and they were saying they went to dinner the night before on a Uber , witch was just starting up, for what we paid to park !
Next morning at the B&B we were talking to one of the other guests and they were saying they went to dinner the night before on a Uber , witch was just starting up, for what we paid to park !
I'll second that.