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More restaurants go cashless, accept only cards and other forms of payment

Discussion in 'The OT' started by Mark Holtz, Apr 15, 2018.

  1. Mark Holtz

    Mark Holtz Day Sleeper

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    From USA Today:

    More restaurants go cashless, accept only cards and other forms of payment
    FULL ARTICLE HERE
     
  2. James Long

    James Long Ready for Uplink! Staff Member Super Moderator DBSTalk Club

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    I have been experimenting with cashless for over 20 years. If a business will not take a credit/debit card I find another business. It has been a while since I couldn't pay with credit/debit (or PayPal online). I have not experimented with other payment methods (Apple Pay or the Android equivalents).
     
    jimmie57 likes this.
  3. machavez00

    machavez00 Hall Of Fame

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    In N Out started taking plastic a few years ago. They were cash only for decades. Two of the local place I eat at are cash only, Pete's Fish and Chips and Don Jose's Mexican Restaurant. They both have ATMs on site.
     
    Last edited: Apr 16, 2018
  4. jimmie57

    jimmie57 Hall Of Fame

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    I have 2 things that don't take credit cards. The Natural Gas bill and the Water bill.
    I pay everything else with them and get money back for using them.
     
  5. NYDutch

    NYDutch DBSTalk Club DBSTalk Club

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    Our favorite restaurant in upstate NY was considering going cashless since almost 90% of their business is plastic/electronic anyway. Then a violent windstorm took out their cable Internet, phone, and power. Between their backup generator and a power company crew restoring power about 8 hours later, they managed to stay open. But, the cable and phone service was still out, so no credit card processing was possible for another couple of days. They accepted IOU's from many of the regulars, including my wife and I, but cash and checks were the order of the day for everyone else. I think that experience pretty much changed their minds about going plastic/electronic only.
     
  6. billsharpe

    billsharpe Hall Of Fame

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    My barber won't take credit cards and he is twenty years younger than me. I'd go somewhere else except that I like him and my haircut, the price is still reasonable, and his shop is within walking distance.
     
  7. Rich

    Rich DBSTalk Club DBSTalk Club

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    You have to tell us which restaurant that was. I won't be able to sleep tonight if...

    Rich
     
  8. Rich

    Rich DBSTalk Club DBSTalk Club

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    My barber doesn't take credit cards either, for a very good reason.

    Rich
     
  9. James Long

    James Long Ready for Uplink! Staff Member Super Moderator DBSTalk Club

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    Because the shop is a front for the mob and he needs "cash" business for money laundering? :)
     
  10. SamC

    SamC Hall Of Fame

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    Credit cards cost the merchant a %age, often 1.5. I pay cash at the two cigar lounges I frequent because they are local and the owners are my friends. I leave a cash tip because often the waitress can pocket that and screw the IRS, which is fine by me. Other than that I only use cash when the place won't take credit cards, like my local minor league baseball park.

    The first store that quits taking checks will get my business. It is very rude to write a check when people are behind you in line to check out. The 1970s are over, it was in all the papers.
     
  11. James Long

    James Long Ready for Uplink! Staff Member Super Moderator DBSTalk Club

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    I'm willing to pay an extra 1% or more not to carry and handle cash. (With apologies to people who are paying the same higher prices paying with cash. Some places give a "cash" discount, but certainly not all.)

    Give me a debit/credit only lane at the store and I'll be happy ... although most times I make it through without waiting for someone fumbling for cash. (I cannot remember the last time I saw someone write a check at a store due to the restrictions the merchants I shop at put on the checks they will accept.) Cash is filthy.

    The federal reserve notes that cash is still the primary method used for consumer transactions ... 32 percent of consumer transactions were paid for in cash in 2015 which is down from 40 percent in 2012. Checks dropped from 7% to 6%. Use of credit cards grew from 17% to 21% and use of debit cards grew from 25% to 27%. Electronic transactions grew from 7% to 11%. Their numbers include all payments (not just over the counter retail) and looking at dollar amounts instead of number of transactions reduces cash to covering only 9% of consumer transactions. (The average cash transaction was approximately $22, while average debit card and credit card transactions were $44 and $57, respectively.)

    Separating debit and credit skews the figures (in my opinion). It is obvious that card use is much higher than cash use.

    The Federal Reserve has broken down spending by category and for the category of "General Merchandise" cash was used for 20% of transactions, credit was used for 33% and debit was used for 37%. The cash percentage nearly doubles for the "Government and Non-Profit" (40%) , "Food and personal care supplies" (39%), "Auto and vehicle related" (39%) and "Entertainment and Transportation" (39%) categories. Gifts and other person to person transfers were 75% cash. (All by number of transactions.)

    Cash isn't dead and will not be dead soon, but other methods are certainly growing.

    Sources:
    Cash | The State of Cash: Preliminary Findings from the 2015 Diary of Consumer Payment Choice
    Cash | Understanding Consumer Cash Use: Preliminary Findings from the 2016 Diary of Consumer Payment Choice
     
  12. TheRatPatrol

    TheRatPatrol Hall Of Fame

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    My soon to be 80 year old mother still writes checks at the grocery store. My sister and I have been trying to get her to use a credit a card. She says she’ll start using one once her checks run out. She just needs to stop ordering them. ;)
     
  13. billsharpe

    billsharpe Hall Of Fame

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    I use credit cards wherever possible to get cash back. I don't ever remember cashing a check at a grocery store. There are still a few cash-only restaurants around here; one has excellent Mexican foot at reasonable prices. I can deposit checks using my smart phone but so far there's no way to get dollar bills out of the phone.
     
  14. Rich

    Rich DBSTalk Club DBSTalk Club

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    Same reason most small businesses and contractors prefer cash.
     
  15. NYDutch

    NYDutch DBSTalk Club DBSTalk Club

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    I would have to ask the owner's permission first, Rich. I'm not sure she'd see the situation as good publicity... ;)
     
  16. Rich

    Rich DBSTalk Club DBSTalk Club

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    Seems like it would be great publicity, made me want to go to a place like that. But I understand. Thanx.

    Rich
     
  17. James Long

    James Long Ready for Uplink! Staff Member Super Moderator DBSTalk Club

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    I have known a couple of businesses that preferred cash for nefarious reasons. Both businesses paid their employees in cash with no deductions (treating employees as self employed contractors). Both businesses ended up going bankrupt.
     
  18. Mark Holtz

    Mark Holtz Day Sleeper

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    I hope she isn't one of those folks who still counts on the levitating check trick... or is it the floating a check....

    I use and pay off my credit card each month.... I get a little bit of cash back.
     
  19. James Long

    James Long Ready for Uplink! Staff Member Super Moderator DBSTalk Club

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    Floating is not as easy as it once was. The check clearing process has accelerated. One might get credit for the time the check is actually in the mail (if the company you are paying looks at the postmark like the IRS) but once that check is in the hands of the company you are paying it could clear overnight instead of taking additional days to process. Checks can be scanned and processed electronically (with only the image passing through the system) or converted to ACH (the same speed as if the writer used a debit card - even if the writer doesn't have a debit card).

    The old rule of not writing a check until the money is actually in the account paying the check is more important than it was a few years ago.

    Then the fees hit. My bank charges $34 for returning a check (unpaid) and the merchant will also have a fee (for example $35 at Walmart). So accidentally writing a check for more than my balance could cost me $69 in fees (and also get me blocked from writing a check again at any company using the same check verification company as the one that received a bad check). If I sign up for overdraft protection the fee is reduced to $34 and the check is not bounced so the merchant never knows (no additional fee or blacklisting). But the new high speed check processing of 2018 makes floating a dangerous game to play.
     
  20. Mark Holtz

    Mark Holtz Day Sleeper

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    I always state that when I receive a check, it will be deposited within 24 hours.

    Of course, when was the last time I received a personal check?
     

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