Can Sioux Falls Businesses Refuse To Accept Cash?
Take a quick look at that one-dollar, five-dollar, or ten-dollar bill in your wallet or purse. It says right there: This note is legal tender for all debts, public and private.
Well, no, not really.
You may have already experienced it, or may in the future. Your cash is no good here. I was in a business here in Sioux Falls this weekend and saw the sign: Effective (insert date) we no longer accept cash.
According to FindLaw.com, more and more businesses across the country are refusing to accept cash as payment for...whatever you might be purchasing. As our world continues to get increasingly 'paperless', it looks like the greenbacks may be going the way of the village smithy and that rotary phone you remember.
But is it legal for a private business to just say no to cash? According to the Federal Reserve at the national level, the answer is you betcha.
Apparently, there's no federal law requiring a private business to accept cash as payment. They say private businesses are free to develop their own policies as far as payments go. And that may well mean plastic only or some other digital means.
My my, how times change. Unbelievable as it sounds, my Dad never had a credit card. Ever. In his entire 86 years on the planet. And I'm sure he never even heard of a debit card. He was a check or cash kind of guy.
The article goes on to say restaurants are kind of leading the way in becoming cashless. A part of me understands it I guess. I assume it's a lot more efficient to just swipe the debit card and be done. And for a lot of folks, it's not even swiping anymore, it's just flash the card or phone and done. Or I suppose there's probably something new. I can't keep up.