4 ms·
Well, yeah, because cash is legal tender, so allowing companies to not accept cash subverts the whole system. I get it that cards are cash equivalent, but it's
by BizarroLand 4y ago
Well, yeah, because cash is legal tender, so allowing companies to not accept cash subverts the whole system.
I get it that cards are cash equivalent, but it's terribly anti-consumer for companies to not accept cash. That removes poor people's ability to acquire goods and services as well.
- scarface74 4y agohttps://www.federalreserve.gov/faqs/currency_12772.htm https://www.federalreserve.gov/faqs/currency_12772.htm > 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.