Places that encourage cash increasing

[ItsAllAboutTheDosh]

I am finding more restaurants, bars and shops are encouraging cash payments due to the card payment costs. These are always independent places with the owner on site actively involved.
Just wondering if others are finding the same?
Although if you never or rarely go to small independent places that would be helpful to state. I find chains prefer card payments.

The small company I work for now bank with the co-op. You can pay cash into any post office. I am not saying this is the cheapest option, but post offices are easily accessible.
There are also plenty of banks where I personally live. But I understand in places where banking cash is difficult, places would not want cash.

Well there you go then!
It's also not just about accessibility it's about security. How do you safely store and transport the cash, it's also an extra business process that needs manpower.
If you take in money regularly even once a week or store it anywhere it's easy for thieves to jump you and steal it.

I use a lot of small independent shops, cafes, individual makers, farmers market etc. Have not seen any encouraging or requesting a return to cash. Might be to do with location, small town which has lost banks, or with the ability to accept card payments with things like SumUp.

I was going to say this.

I've noticed this more lately too.
A few places round here, mainly pubs and independent businesses around here have taken to either saying "cash only" or "cash preferred."
Have started to take cash out with me more as a result!

As bank branches are closing rapidly what are business owners supposed to do with the cash? Take it for a long drive at increasing personal safety risk?

They're not all going to be obvious or else the criminal gangs wouldn't get away with it!

Apparently Chinese restaurants, gyms, garages etc are often used.

You said they're always independent places with the owner on site actively involved. The owners can sometimes be coerced or forced into it.

However I do think that these days that a lot of smaller businesses who have gone cash only are just trying to avoid paying some of their taxes, and tbh I don't blame them, either that or they close which is worse for the economy in the long run!

Small takeaways etc will be able to spend a lot of cash taken on supplies at the cash and carry. You see people at Costco buying giant trolley loads of drinks etc and paying cash. They also might pay delivery drivers or take some of their personal drawings in cash.

So it's not a straight comparison with cards on banking fees as they won't bank all the cash they take.

I've not noticed a rise in businesses preferring cash though, and I almost never eat at chain restaurants, rather small independents, food vans etc, which seem to be almost exclusively card only. Or even bank transfer, once we went to a restaurant and they were telling people that the card system was down and they needed people to pay by bank transfer, which was fine in most cases as nearly everyone can do this by phone.

I think it's an abomination that the banks make both cash and electronic transactions ridiculously expensive. How is this even allowed?!

I used to work for a car dealership /garage. Bank charges for cash was far higher than credit card/bank transfers. There were limitations on how much one person can take to bank or how much can be stored overnight

Yes, I've noticed it.
I also use cash more and more by choice.

I’m not seeing it here. In fact, even our local chip shop/Chinese takeaway have started taking card in the last few years.

I can’t remember the last time I used cash and only know a few people who use it regularly.

Local softplay has put its cost up to £12/head and wants you to pay cash. At £36 for three of us, that's more cash than I usually carry.

On a day to day basis, l don’t carry cash any more. If somewhere does not take a card, l go eksewhere.

I take cash or BACC. I pay every penny of tax and have no issue with tax but as a small business I would lose 1.75-5% to cards. Why should I give that money away for nothing? those accusing small businesses of fraud/tax evasion should wake up, the chains and corporations pay fuck all tax.

As above it costs money for businesses to bank money - directly and indirectly

My friends businesses all need business accounts, one needs multiple accounts as she has a shop that combines two businesses, plus one of those has other traders who sell from her shop space
Their money must go into a seperate holding account (for accounting ‘security’ seperate from her business and also to ensure that they are clearly not her transactions as opposed to the traders looking like they are suppliers)

Some money can be kept in cash and paid out in cash which does mean there are no transaction charges
But she needs to pay bills, rent, insurance, buy stock & supplies etc - less transactions when banking cash for those can save on fees - as long as there are enough card sales going in to ensure there’s enough in the accounts to pay the bills (and that there isn’t too much cash left in the shop to be stolen)

Small independant businesses get broken into - I spent Christmas Day in 2023 in a friends shop making temporary repairs to the door which had been smashed

I run a team and even club bank accounts cost money unless the bare minimum account is used (which we have)
I couldn’t even get a cash point card for it without upgrading, so money goes in by transfer and out by transfer - to and from personal accounts
This is fine for our needs - occasional events ( now rare) can take payment into the account, but the main use is that members can deposit to put some aside, remaining each individuals money, to spend when we play.

………

The cost of business account transaction fees is one cause for the increase in shops asking for or stating a preference for cash
But a clear rise is from the ‘campaigns’ to promote cash
”We must use cash or lose cash” and memes that claim handling a note passing through a chain of businesses is free

There’s also the little matter of a cash float for the till. When you take cash you give change and need all the coin denominations - you might be able to pass in your £20 note to pay staff, pay your next supplier etc - but you still have to go to the bank to get done more £1, 50p, 20p, 10p, 5p, 2p and 1p coins

You could leave avoid the 1p, 2p and possibly 5p if you avoid using the applicable 99p pricing etc - but then you’re charging £1 for a 99p price marked item or you are 1p more expensive then the other shop along the road

(99 pricing has both the stealth method of prices looking £1 cheaper but the more important matter of staff having to put the transaction through the till to get the 1p change)

Sometimes it's money laundering. Cashing up and getting it to the bank takes time too.

I allways assume "cash only" or "cash preferred" is a sign of a business in financial trouble. If your credit is bad many suppliers will insist on cash on delivery.

With regard to cash floats, tills in shops and restaurants which take cash, both in Singapore and Australia round up or down to the nearest 5c.

In my experience, people who encourage cash payments aren't declaring everything to the tax man.

OP it will be money laundering or tax evasion, or both. Don't swallow the line about bank charges.

I know a pub which is very isolated and the only way they could get insurance was to not take cash.

All the banks in our town have closed. We had four. The nearest town with a bank is ten miles away. It's hardly surprising that businesses, including small family run ones, refuse cash.

I always pay in cash for everything in shops and fuel stations.

I did have one place refuse when I got cash out, there was no sign saying card only, so told them I'd forget it and go elsewhere.

They suddenly started to accept cash.

In my day to day business, I pay cash to the nail place (will also accept bank transfer), fish and chip shop and tips for various drivers, waiting staff etc.
That’s about it.