Current Events > I can't believe cash only businesses still exist.

(+) Yeah! (+)

Can't be around for much longer.
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What they lose in volume they make up in tax fraud
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Some people still like having something to fold in their hands.
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They're few and far between, but generally it's a cost thing
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I used to help out in running a business

its usually not worth it to accept cards if its a small business because VISA or Mastercard take a percentage of the sales

American Express is even worse. we stopped taking them because the percentage of the sales they took was so high.
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PrettyBoyFloyd posted...

Some people still like having something to fold in their hands.

Thats why most every business accepts cash a d card
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The only thing I cant believe still exists is businesses that still except checks at retail or grocery.

Its the anti debit movement. Cash is king
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Asherlee10 posted...

Yeah I went to a HUGE festival a few weeks ago in New Braunfels (very German and Czech town) called Wurstfest. And it was all cash-only. You literally could ONLY buy beer with cash. Thankfully, I have some good friends who bought me some beer.

Dude, it's a stall at a festival. I've never been to one that accepts cards.
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Cash rules everything around me
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i was in the mission district in SF yesterday, i feel like most of the restaurants/bars there are cash only
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Will446 posted...

The only thing I cant believe still exists is businesses that still except checks at retail or grocery.

Usually it's people in their late 60's or early 70s... in my area anyway.

And usually it takes like 10min even after everything has been rung up.
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I love cash.
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There are still plenty of businesses that will only accept payment in gold or silver.
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daftpunk_mk5 posted...

What they lose in volume they make up in tax fraud

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Hairy-man posted...

I love cash.

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Dont most businesses that accept cards just push that 3 or 4% fee to their customers? Meaning that you actually make more money off of cash customers because they are paying 3 or 4% more for nothing?

Also you can easily survive as cash only if you have the clientele or something people want
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AzNDarkSamurai posted...

its usually not worth it to accept cards if its a small business because VISA or Mastercard take a percentage of the sales

Yeah, but they are losing way more sales now-a-days than they did 10-20 years ago. Very few people my age, 27, and younger regularly carry cash.
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COVxy posted...

Can't be around for much longer.

Whats the big deal, exactly? Go to an ATM and then go to the store.
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josifrees posted...

Dont most businesses that accept cards just push that 3 or 4% fee to their customers? Meaning that you actually make more money off of cash customers because they are paying 3 or 4% more for nothing?

Also you can easily survive as cash only if you have the clientele or something people want

Yeah a lot of food trucks are like this for simplicitys sake.
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DifferentialEquation posted...

There are still plenty of businesses that will only accept payment in gold or silver.

LOL

I always wanted to attempt to pay for something in Shillings or Pences.

Anyway I do remember having Canadian Quarters rejected.
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Asherlee10 posted...

masticatingman posted...

COVxy posted...

Can't be around for much longer.

Whats the big deal, exactly? Go to an ATM and then go to the store.

Because that is an unnecessary extra step.

And usually the ATMs are going to charge you a fee, unless you hike your way over to your own bank.
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I feel sad for and just laugh at the people that only bring cards and get mad over this. I always bring a card(s) and cash with me at all times so I don't have a problem.
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What really grinds my gears is that I can't pay my fucking garbage bill online. I either have to mail a check or visit them inbperson, 3 towns over, to oay with a debit card.
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JACKBUTTMOMMY posted...

AzNDarkSamurai posted...

I used to help out in running a business

its usually not worth it to accept cards if its a small business because VISA or Mastercard take a percentage of the sales

American Express is even worse. we stopped taking them because the percentage of the sales they took was so high.

As a small business owner in my humble opinion it's not that detrimental. Hell, I knew about the conditions before learning about them more as I got my undergrad focused in entrepreneurship. It serves as a convenience to the client/customer. I guess if you sell cheap products such as something akin to 711 or you're just bad at business it makes sense. Or charge a convenience fee to kind of make the issue null and void (I don't do this, however). But to rule it out comepletely in my mind shows you either aren't making enough money to run a business if you can't even afford what I consider a cost of business, you don't know how to run a business (I.e. cut losses), are cheap, and/or on the rare occasion you don't sell goods that make it worth your time (in which case, why even be in that business). By accepting more forms of payment, you have more available revenue options. $97/$100 is better than $0. I accept all forms of payment including bitcoin though i've yet to have anyone purchase that way. With all respect. I suppose one other route that makes sense is setting a minimum, but even then it's like bruh...

American Express is incredibly detrimental.
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Asherlee10 posted...

masticatingman posted...

COVxy posted...

Can't be around for much longer.

Whats the big deal, exactly? Go to an ATM and then go to the store.

Because that is an unnecessary extra step.

And some places actually don't have ATMs around for miles either.
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Almost every tea/food/hookah date/hangout spot in NYC and Long Island is cash only.

It's fucking annoying af but everybody seems to love it, especially chicks.
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Really? You can't believe that a business owner would want the ability to only pay 30% of their income tax? Or that a business owner would not want to pay merchant fees on credit card payments?
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Asherlee10 posted...

SkittyOnWailord posted...

I feel sad for and just laugh at the people that only bring cards and get mad over this. I always bring a card(s) and cash with me at all times so I don't have a problem.

I don't find a need to make an extra trip somewhere just to obtain cash when I have perfectly good method of paying for things.

99% of the time if the place is cash-only, I just won't go there.

But you're an exception. A good amount of people just expect everyone to take all forms of payment. You seem to actually understand that and don't go to those places.
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Cash-only businesses are the norm in Germany, especially the smaller/non-chain ones
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nexigrams posted...

Really? You can't believe that a business owner would want the ability to only pay 30% of their income tax? Or that a business owner would not want to pay merchant fees on credit card payments?

The point is that cards and digital payment are so prevalent now-a-days that the cost benefit analysis cannot possibly hold out.
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teepan95 posted...

Cash-only businesses are the norm in Germany, especially the smaller/non-chain ones

This. I always expect to pay cash when I go there unless its a large chain store. I mostly shop small business which can require carrying a lot of cash. It sucks because you lose money exchanging dollars for euros and then exchanging any left over euros for dollars. Fortunately, my company refunds me.

teepan95 posted...

Cash-only businesses are the norm in Germany, especially the smaller/non-chain ones

I would actually love to know what the "real" tax rate is on small businesses in a lot of countries. I can't imagine most of them are reporting a significant portion of their cash income.
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there are quite a few restuarants around here that only take cash / debit, not credit. they make it very clear with a sign on the door though so you don't get stuck unable to pay
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I think the opposite extreme - a place that doesnt accept cash - would be way worse. Because the people in this thread against cash only businesses seem to be going in that direction with really disliking the cash only method. Get used to it, cash isnt going anywhere.
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A lot of Amish run places are
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lol people who don't carry cash
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This foreign guy running a pizzeria said you fuck me when I tried to pay with debit. Yet he had a card reader at the register and even had a sign for visa discover. Never went back there after he demanded cash

DarkChozoGhost posted...

A lot of Amish run places are

I was shocked when I passed by an Amish Market and they had an Ipad with the Square on it, and they were taking credit cards.
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Hairy-man posted...

I love cash.

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went for lunch at some local spot my co-workers were raving about....go to the lunch counter, got my lasagna and sandwhich with whatever else was on the takeout platter, get the try from the counter and bring it to the area where you pay....i told them, "visa please"....they said "we dont take visa".....i said forget it and left the tray of food there at the counter...fuckem....if you can't take my method of payment because you want to save 1% or whatever the merchant charge is, then forget it
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It's very strange to me to hear people say that they don't carry cash. Its even stranger when they get really upset about businesses being cash only
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I don't carry cash.

I also don't think I've ever seen a cash-only business, including in Amish country. I did have a gas station refuse to sell me an 80 cent soda because I wanted to use debit.

I just grabbed a second one and put it in the fridge.

Now obviously those stupid dumb events in the park where everyone sells their nasty-ass goat milk soap and honey with chunks in it and put up a sign that says "home made" and can't keep the customers away with a tommy gun because they're addicted to the idea of getting garbage products for high prices so they prefer home made are gonna have some stands that are cash only but that's kind of an exceptional case.
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GOATSLAYER posted...

It's very strange to me to hear people say that they don't carry cash. Its even stranger when they get really upset about businesses being cash only

idk, you're about 30 years too late on social commentary about how most the wealth of the world is recorded digitally, as Chuck Palahniuk has you beat.
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