My Local Savers Store is Refusing to Accept Cash!

[FreeBirdTim]

I go to my local Savers store once a week looking for collectibles to sell on eBay. When I got to the checkout, there was a big sign stating that they only accept credit cards. This is illegal in my state of RI, but I guess they don't care. Also, on the front of every U.S. note it clearly states, "This note is legal tender for all debts, public and private", so how can they refuse cash? Even if RI didn't have a law forbidding this practice, it seems like it shouldn't be allowed. What's you take on this deal?

 

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[Madmox]

What you are saying is absolutely true. It is technically illegal to not accept cash for a transaction. Of course they could just hide behind some rule of “refusing you service” if you pushed them.

 

[Madmox]

What you are saying is absolutely true. It is technically illegal to not accept cash for a transaction. Of course they could just hide behind some rule of “refusing you service” if you pushed them.

I should also add that the only thing that allows our system to work (I.e the fiat backed money system vs a specie backed system) is that the value of the money in your pocket has a specific value and the collective belief concurs With that. If places stop accepting currency as legal tender... well all of a sudden our financial system is in a very precarious position.

 

[Carl-NC]

There is no federal law requiring anyone to take cash, regardless of what's printed on US notes. A few states have laws on cash sales, oddly Rhode Island's law has no penalty for breaking it. With the virus and a severe coin shortage I think a little leeway on cash sales is in order. I am a little surprised that a Savers would go cashless as a lot of their customers are low income and rely on cash.

The financial system works just fine whether physical cash is used or not. Absolutely 0% of my income is paid to me in cash, and less than 1% of my expenses are paid with cash. This is true for a lot of people and the trend is growing. System still works.

 

[fistfulladirt]

I’m 99.9 % cash. I won’t do business with those that won’t accept cash. I just go elsewhere.

 

[Tpmetal]

There is no federal law requiring anyone to take cash, regardless of what's printed on US notes. A few states have laws on cash sales, oddly Rhode Island's law has no penalty for breaking it. With the virus and a severe coin shortage I think a little leeway on cash sales is in order. I am a little surprised that a Savers would go cashless as a lot of their customers are low income and rely on cash.

The financial system works just fine whether physical cash is used or not. Absolutely 0% of my income is paid to me in cash, and less than 1% of my expenses are paid with cash. This is true for a lot of people and the trend is growing. System still works.

I am not wiling to keep making banks money by using credit cards. I use cash only. Putting everything cashless allows for more potential for abuse as well.....

 

[fistfulladirt]

all of a sudden our financial system is in a very precarious position.

I believe we are at that point and have been for some time.

 

[Trezurehunter]

I'm also a 99 % cash user. If I walked into a store and saw that sign, I would say something to the manager (cause that's how I am) and tell them why I won't be shopping there any longer. No one entity or any business will force me to use credit cards. I am currently helping the coin shortage, buy paying for small purchases in coins !

 

[creskol]

I use a credit card wherever I can, and pay it off monthly.. It's like a 30 day free loan to me.. no interest at all. The airlines have been refusing cash for in-flight purchases for a long time.

 

[MidMoTreasure]

Some places around here are also refusing cash and citing the Wuhan coronavirus pandemic as the reason. Hopefully, they will go back to taking my filthy money when this craziness dies down.

 

[Madmox]

There is no federal law requiring anyone to take cash, regardless of what's printed on US notes. A few states have laws on cash sales, oddly Rhode Island's law has no penalty for breaking it. With the virus and a severe coin shortage I think a little leeway on cash sales is in order. I am a little surprised that a Savers would go cashless as a lot of their customers are low income and rely on cash.

The financial system works just fine whether physical cash is used or not. Absolutely 0% of my income is paid to me in cash, and less than 1% of my expenses are paid with cash. This is true for a lot of people and the trend is growing. System still works.

I’ll be damned. I stand corrected. Thanks Carl. I never knew that.

 

[Kray Gelder]

I use a debit card mostly, for local purchases. Sometimes cash. Some stores have stopped handling cash. The self checkouts at Wally World, stopped taking or issuing cash. But, everybody is using their index finger, the dirtiest, used for EVERYTHING, to enter their pin on the pin pad. So, don't pick your nose or rub your eyes until you use sanitizer or wash your hands. Just saying.

 

[FreeBirdTim]

I use a credit card wherever I can, and pay it off monthly.. It's like a 30 day free loan to me.. no interest at all. The airlines have been refusing cash for in-flight purchases for a long time.

The more places you use a credit or debit card, the more likely your account will be compromised. A friend of mine recently had her debit card compromised. She used her card at a gas pump and the next morning there were over 50 deposits and charges on her statement. They added over 4k to the account and then started charging items online. The bank straightened it out, but she still can't use her Cumberland Farms smartpay card. They said it's okay to use, but it keeps getting rejected at the pump.

How did this happen? Someone at a Hess gas station put a card skimmer on top of the actual card reader and got her info that way. Here's a video to show how they do it. Bottom line, cash is king in my world!

 

[xr7ator]

I am not wiling to keep making banks money by using credit cards. I use cash only. Putting everything cashless allows for more potential for abuse as well.....

I am like creskol. I use my credit card as much as I can because it makes ME money. I get a 30 day free loan PLUS, they pay me 1 to 5% to use their credit card. I have no cards with annual fees and ALWAYS pay my bill in full and on time. I recenlty used over $500 in free money from my american express rebate card to pay my credit card bill!

 

[xr7ator]

FreeBirdTim. I am 56 years old now and have NEVER had a compromised account. Thousands of dollars I have made off of credit card rebates. Yes, thousands.

 

[Tpmetal]

FreeBirdTim. I am 56 years old now and have NEVER had a compromised account. Thousands of dollars I have made off of credit card rebates. Yes, thousands.

just because it hasn't happened to you yet doesn't mean it won't in the future.....

 

[fistfulladirt]

I am like creskol. I use my credit card as much as I can because it makes ME money. I get a 30 day free loan PLUS, they pay me 1 to 5% to use their credit card. I have no cards with annual fees and ALWAYS pay my bill in full and on time. I recenlty used over $500 in free money from my american express rebate card to pay my credit card bill!

Supposedly, we all pay for that in the form of increased merchant fees generated by the CC company. Which means we pay more for the products in the end, to cover the fees.

 

[Tpmetal]

Supposedly, we all pay for that in the form of increased merchant fees generated by the CC company. Which means we pay more for the products in the end, to cover the fees.

don't forget the 4 percent upcharge in some places for using a credit card.

 

[fistfulladirt]

don't forget the 4 percent upcharge in some places for using a credit card.

Yep, there’s no such thing as a free lunch

 

[scott9050]

I use a debit card mostly, for local purchases. Sometimes cash. Some stores have stopped handling cash. The self checkouts at Wally World, stopped taking or issuing cash. But, everybody is using their index finger, the dirtiest, used for EVERYTHING, to enter their pin on the pin pad. So, don't pick your nose or rub your eyes until you use sanitizer or wash your hands. Just saying.

This is why I have one of these:

https://www.amazon.com/KeySmart-Nan...-Portable/dp/B075145VZD/?tag=treasurenet01-20