The law where I live pretty much says you have to accept all the most common forms of payment. Or used to, but after covid they’ve used hygiene as a reason to save on the costs of cash.
Yeah electronic is usually much easier, but unfortunately I have quite a few things which I need and/or get cash from. Which isn’t ideal, but since not doing it would mean worse things, I do do it, while waiting for my society to improve.
But Visa Electron doesn’t do all those things perfectly, btw. Better today, but I remember having overdrawn my account a bunch of times as a youth, because when I was broke I’d shop at small stores I knew that their machine didn’t properly verify funds before placing a pending purchase, even when it was supposed to not be able to do that.
Also I don’t have to pay fees to my banks or ATM’s here, not yet at least. Forex is pushing ATMs here though, with lots of ATM’s for foreign currency. Who is enough of a dipshit to use an ATM for foreign currency in their home country before going on a trip? Scams, the lot of them.
Here there is no such law. They have to accept cash but even so can place limits such as not all in coins or no unusually large bills
However electronic payments is up to their card processor. So far the major processors have mandated that you have to accept all: credit and debit processed by them (I no longer see places that don’t accept tap to pay so maybe that’s included now. American Express used to be excluded because of high fees and they are neither visa nor Mastercard, but I have no idea what the current situation is. Costco is the only place I know that only accepts visa or only accepts Mastercard, I forget which
But …… some credit cards lean in on various types of rewards back to sell a lot more cards. From the user point of view, it’s money for nothing. However that’s paid for by higher fees to merchants. As part of recent rollback of consumer protections, merchants are now allowed to charge a different price for cash vs cards and those higher fee rewards cards mean they really want to push all those fees back to the customer.
So if you have a rewards card in the US, thank you for extracting more money from the merchant, driving them to charge the rest of us more. Your cash back is funded by higher prices to me
The law where I live pretty much says you have to accept all the most common forms of payment. Or used to, but after covid they’ve used hygiene as a reason to save on the costs of cash.
Yeah electronic is usually much easier, but unfortunately I have quite a few things which I need and/or get cash from. Which isn’t ideal, but since not doing it would mean worse things, I do do it, while waiting for my society to improve.
But Visa Electron doesn’t do all those things perfectly, btw. Better today, but I remember having overdrawn my account a bunch of times as a youth, because when I was broke I’d shop at small stores I knew that their machine didn’t properly verify funds before placing a pending purchase, even when it was supposed to not be able to do that.
Also I don’t have to pay fees to my banks or ATM’s here, not yet at least. Forex is pushing ATMs here though, with lots of ATM’s for foreign currency. Who is enough of a dipshit to use an ATM for foreign currency in their home country before going on a trip? Scams, the lot of them.
Here’s more from Janek on Honest Guides
Here there is no such law. They have to accept cash but even so can place limits such as not all in coins or no unusually large bills
However electronic payments is up to their card processor. So far the major processors have mandated that you have to accept all: credit and debit processed by them (I no longer see places that don’t accept tap to pay so maybe that’s included now. American Express used to be excluded because of high fees and they are neither visa nor Mastercard, but I have no idea what the current situation is. Costco is the only place I know that only accepts visa or only accepts Mastercard, I forget which
But …… some credit cards lean in on various types of rewards back to sell a lot more cards. From the user point of view, it’s money for nothing. However that’s paid for by higher fees to merchants. As part of recent rollback of consumer protections, merchants are now allowed to charge a different price for cash vs cards and those higher fee rewards cards mean they really want to push all those fees back to the customer.
So if you have a rewards card in the US, thank you for extracting more money from the merchant, driving them to charge the rest of us more. Your cash back is funded by higher prices to me