Can't pay with cash what is up with this

[scrabbler1]

Quote:

Originally Posted by braumeister +1 Years ago, I noticed that every time I had a credit card compromised it was shortly after using it at an unfamiliar restaurant. I concluded that it would be safer to never let the card out of my sight, so I made that a strict policy and started carrying enough cash to cover any restaurant meal. That policy has worked well for me. In the years since I started (probably 6 or 7 now), I haven't had a single card compromise. I like cash.

Same here. I use cash at restaurants, for the tip and for the meal. Sometimes, my ladyfriend gets $25 restaurant gift cards through the points she has earned from her CC. She gives them to me when we go out, so when the check comes, it really feels like a "cheap" meal because a $40 check costs me only $15.

[Amethyst]

Those young ladies are savvy shoppers, if they can achieve many clothing purchases with just $100 apiece. Yes I know it's possible...but still to them.

Quote:

Originally Posted by brucethebroker Gave teenaged DGD's two fifties each for pre-Christmas spending on new clothes. They went to the local mall, and returned with purchases from many different stores. No complaints about any "non-takers", even with the fifties.

[fidler4]

Quote:

Originally Posted by athena53 I'd be very wary of paying for work on the house in cash. I'd suspect they might be evading taxes and/or Workers' Compensation premiums and don't want to support that. The cannabis shop is a different issue. Apparently they have trouble getting bank accounts because banks are afraid of running afoul of federal drug laws even though cannabis is legal in that particular state. They don't even like the idea of installing an ATM inside a shop because if the Feds raided the place they might confiscate all the cash in the machine. I learned this from a Planet Money or Freakonomics podcast- I forget which.

Cash transactions are easier to keep “off the books” in order to avoid paying taxes. I suspect the cannabis industry has their fair share of tax evaders. It’s an industry that has gone from an underground illegal economy to a legit business in some states but their desire to pay legitimate taxes on “all” of their sales probably isn’t sitting too well with some of them.

[meierlde]

Quote:

Originally Posted by fidler4 Cash transactions are easier to keep “off the books” in order to avoid paying taxes. I suspect the cannabis industry has their fair share of tax evaders. It’s an industry that has gone from an underground illegal economy to a legit business in some states but their desire to pay legitimate taxes on “all” of their sales probably isn’t sitting too well with some of them.

Actually because of Federal regulations banks won't touch Cannabis shops with a 10 foot pole because they are federally regulated. Thus they are all cash businesses.

[MRG]

Quote:

Originally Posted by fidler4 Cash transactions are easier to keep “off the books” in order to avoid paying taxes. I suspect the cannabis industry has their fair share of tax evaders. It’s an industry that has gone from an underground illegal economy to a legit business in some states but their desire to pay legitimate taxes on “all” of their sales probably isn’t sitting too well with some of them.

The state has records of how much is harvested and how much sold(not to who). The industry came from the black market, but not the majority of the people in it.

Actually the accounting can be a real pia. We lost a medical marijuana dispensary because it was such a small part of their business it wasn't worth the accounting for a separate grow. They can't sell products, including flower, across the recreational and medical markets.

Actually some places will accept CCs. Untill the bank finds out what business they're in, they don't have a problem. When they're eventually discovered the bank drops them.

[street]

https://www.msn.com/en-us/money/mark...7p0?ocid=edgsp

We will be seeing more of this I'm afraid. I like using cash.

[Walt34]

Quote:

Originally Posted by street https://www.msn.com/en-us/money/mark...7p0?ocid=edgsp We will be seeing more of this I'm afraid. I like using cash.

Perhaps. But they'll be doing without my business, I prefer paying for small stuff, like lunch, with cash. And I have a major problem using credit (don't/won't have a debit card) to pay for something that is literally down the toilet by the time I get the bill.

[RunningBum]

Quote:

Originally Posted by street https://www.msn.com/en-us/money/mark...7p0?ocid=edgsp We will be seeing more of this I'm afraid. I like using cash.

Could you tell us what "this" is instead of posting a blind link?

[Danmar]

Quote:

Originally Posted by braumeister +1 Years ago, I noticed that every time I had a credit card compromised it was shortly after using it at an unfamiliar restaurant. I concluded that it would be safer to never let the card out of my sight, so I made that a strict policy and started carrying enough cash to cover any restaurant meal. That policy has worked well for me. In the years since I started (probably 6 or 7 now), I haven't had a single card compromise. I like cash.

Restaurants in Canada pretty well all use remote card readers now. They bring the portable hand held machine to the table, you insert your card, add a tip (if you want), punch in your pin, and receipt comes out. Card never out of your hand.

I am still a little taken aback when in the US, that they still disappear with your card and bring paper slips back. Can’t last much longer?

[Alan]

I don’t like carrying cash about and have no problem in paying with a card or phone, although I have not noticed any merchants refusing cash.

I never sign for anything these days and use my PIN less and less as pay by phone and pay by contactless card is almost everywhere here. A new little Italian cafe opened recently on the market street and we quickly became regular customers. The first time the owner’s mother was on the till when I went to pay and I asked to pay by phone her son told her to just touch “pay by card” on her display and when I then applied my fingerprint to my phone and the payment went through she was amazed. Her son said, “you think that’s magic, don’t you?” and she had to laugh in agreement.

[audreyh1]

Quote:

Originally Posted by Danmar Restaurants in Canada pretty well all use remote card readers now. They bring the portable hand held machine to the table, you insert your card, add a tip (if you want), punch in your pin, and receipt comes out. Card never out of your hand. I am still a little taken aback when in the US, that they still disappear with your card and bring paper slips back. Can’t last much longer?

This is so ingrained I dispair of it changing.

And I wonder what’s going to happen when signatures are no longer required in April 2018. Announced by everyone but VISA, I believe.

[Dawg52]

I saw 2 cars ahead of me at a fast food drive through pay by phone the other day. I do not have an app or desire to do this. If they don't want my cash I will pay by card. I have a hard time seeing cash going away in my neck of the woods anytime soon tho.

[meierlde]

Quote:

Originally Posted by Danmar Restaurants in Canada pretty well all use remote card readers now. They bring the portable hand held machine to the table, you insert your card, add a tip (if you want), punch in your pin, and receipt comes out. Card never out of your hand. I am still a little taken aback when in the US, that they still disappear with your card and bring paper slips back. Can’t last much longer?

It depends on the class of the restaraunt. If it has a cashier/host person, then you walk up to the cashier to pay and swipe your card. Given that this also enables to go orders it seems to make sense to move in that direction. Also reduces the workload of the wait staff.

[braumeister]

Quote:

Originally Posted by Danmar Restaurants in Canada pretty well all use remote card readers now.

Yes, just like in Europe. I'm always glad to see that, and since I got a true Chip & PIN card I haven't even had to hassle with a signature at those places (although it never seemed to bother the servers). Progress!

[Meadbh]

Quote:

Originally Posted by braumeister +1 Years ago, I noticed that every time I had a credit card compromised it was shortly after using it at an unfamiliar restaurant. I concluded that it would be safer to never let the card out of my sight, so I made that a strict policy and started carrying enough cash to cover any restaurant meal. That policy has worked well for me. In the years since I started (probably 6 or 7 now), I haven't had a single card compromise. I like cash.

In ye olde days before we had point of sale terminals brought to the restaurant table, I also worried about letting a server take my credit card. My solution was to walk to the payment station with my card, so it was never out of my sight. It may have interrupted a few good conversations at my table, but security won out over ambience.

[Music Lover]

Quote:

Originally Posted by Danmar Restaurants in Canada pretty well all use remote card readers now. They bring the portable hand held machine to the table, you insert your card, add a tip (if you want), punch in your pin, and receipt comes out. Card never out of your hand. I am still a little taken aback when in the US, that they still disappear with your card and bring paper slips back. Can’t last much longer?

Remote card readers are even common on the beverage/snack carts on golf courses now.

[Chuckanut]

Quote:

Originally Posted by Danmar I am still a little taken aback when in the US, that they still disappear with your card and bring paper slips back. Can’t last much longer?

You over estimate the forward thinking of American banks. Believe it or not, only two of my chipped credit cards even allow me to enter a pin. And then the pin is often secondary to a signature. Thankfully, one does work with automated ticket machines overseas in places like train and bus stations. The rest are chip and signature only, no pin allowed.

They tell me this is for my convenience since I don't have to remember a pin. Yea, right. Apparently they think Americans are stupider and less capable than Canadians, Englishmen, French, Italians, Dutch, etc. etc. etc.....

[Chuckanut]

Discover card announced they were going to transition to chip-and-pin.

Discover Card Endorses Chip and PIN | NACS Online – Media – News Archive

Quote:

April 26, 2016 ​ARLINGTON, Va. – Last week, Discover Chairman and CEO David Nelms announced the company would begin migration to chip and PIN technology to secure credit card transactions in the United States.

I haven't heard any more about this since then.

[Cobra9777]

We use cash-back credit cards for everything, no matter how small. As a general rule I never have cash in my wallet and certainly no coins in my pocket. We used to get cash before heading to the ballpark for the parking fee. But now we pay ahead online and just show the attendant our prepaid parking ticket.

[ncbill]

Quote:

Originally Posted by street https://www.msn.com/en-us/money/mark...7p0?ocid=edgsp We will be seeing more of this I'm afraid. I like using cash.

Handling cash is a huge hassle for business owners.

I'd do the same had I a similar business in a large urban area.