Posted on 03/18/2019 5:33:12 PM PDT by SMGFan
New Jersey just stopped the move toward cashless commerce in the Garden State dead in its tracks.
Gov. Phil Murphy on Monday signed a bill into law requiring most stores and restaurants in the state to accept cash at their brick-and-mortar locations, making New Jersey only the second state to bar businesses from refusing to accept legal tender.
Businesses like cashless payments for the ease of transaction, but experts say cashless businesses disenfranchise consumers who can’t access bank or credit cards.
(Excerpt) Read more at nj.com ...
I see a preemption argument here.
Doesn’t federal law require that you must accept U.S. currency?
Since when? Is this a North Jersey thing?
Mobster owned companies sometimes only accept CASH.
This is funny.
And cash should be taken almost everywhere.
I guess there are exceptions that I’m not thinking of right now.
I’m not talking online, but in store.
Is it legal for a business in the United States to refuse cash as a form of payment?
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 United States money as identified above is a valid and legal offer of payment for debts when tendered to a creditor. There is,
however, 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 which says otherwise
https://www.federalreserve.gov/faqs/currency_12772.htm
The Pennsylvania Department of Transportation driver’s license and registration centers will not take cash—only credit cards.
What part of “this currency is legal tender for all debts, PUBLIC and private” do they fail to understand?
Yeah, some places won’t accept CC’s or checks. But cash is accepted everywhere (in person), as far as I know.
Maybe Gov. Murphy & the Dems are so giddy with power here, they’re just passing laws for no reason now.
Has there been less financial theft since everything has been going cashless?
I suspect there has been more financial theft, as cashless requires vast databases of credit/debit card, transactions and personal data, resulting in theft of credit/debt card numbers, debt holders names, ect., used constantly to bilk consumers, stores and card issuers out of billions of dollars every year.
I have no problem with mandating stores take “legal tender” as defined by federal law.
With no cash, the state gets a piece of every transaction, even to the point of waitresses tips.
Doesn’t go far enough... Make customers pay with gold or silver instead of valueless paper.../s
The cashless society is a requisite for the mark of the beast, where all must have the mark iof the Antichrist in order to buy or sell. We are moving inexorably toward that society, and the Demoncrat party will be primary enablers of the rise of the Antichrist.
This is a safety issue above all.
“Yeah, some places won’t accept CC’s or checks. But cash is accepted everywhere (in person), as far as I know.”
Actually, there is a movement among merchants toward accepting only electronic payments, but it is driven mostly by Visa/MC handing out big incentives for them to make this move. At the same time, though, Visa/MC have been raising interchange rates to cover all the rewards programs on their credit cards.
I actually sell merchant services, but I’m focused on trying to buck the cashless trend by setting up merchants on a cash discount program. It is now legal for merchants to offer this program, which basically incentivizes customers to pay cash by charging a 3.99% service fee on all credit card purchases.
Merchants that adopt this program love it, because they often save hundreds or even thousands of dollars a month. Their only concern is if they will scare their customers away, but once they find out it doesn’t, they never go back to paying those ridiculous interchange fees.
In over 99% of cases, the service fee is a non-issue for customers - the psychology of a “cash discount” works very well, since people are always looking for an incentive to save money.
Not that I disagree with the decision to make them accept cash(I am a cash and carry type of guy), but who in this country CAN’T get a credit card, or for that matter a Bank Card.
Yogi Berra said cash is just as good as money and Yogi knows.
I purchase something small. Like a single piece of candy. Anything under $1. On a credit card that costs them more than they will profit. Then I turn around and ... oops forgot .. something else under $1. Each transaction costs them an average of 3% plus a flat $.25 or $.35 fee ... each. OH dang, forgot my nephew ... need a piece of candy for him too .... and so on. Usually gets the managers attention and I can make my case in person at that time. I've seen a small store change policy the next day.
Some businesses don’t want to get robbed.
Well check your skirts because your privilege is showing. There are LOTS of people who can’t get credit cards including most folks under 18. Did you have a credit card as a 12 year old? People who have had a bankruptcy or foreclosure can’t get credit cards. Shall I go on?
Cash has to be honored for debts. When you want to buy something, there is no debt, so no, a merchant doesn’t have to accept currency. Of course you are under no obligation to patronize such a merchant.
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