AIBU to put up a sign encouraging customers to pay in cash?

[Theydidnt]

I run a small business and we are taking SO much less cash than we used to. It's really having an effect on how much we are taking. But I'm interested to know whether people would be put off by a sign with this wording or whether people support it. I know lots of people think cash is a way of avoiding the tax man and may find it unprofessional. Interested to know people's thoughts

No I would also think it of businesses that encourage you to take cash rather than cards. Purely because getting cash out is a huge inconvenience now (banks are all closing and less and less ATMS) so if you are telling customers you prefer it there must be a reason.

That would not bother me at all. I rarely go out but always make sure i have some cash.

I got into my local taxi firm a few weeks ago and the driver asked if it was cash. He set the meter at £3.50. My nephew tells me that for the same journey they set it at £4.50 beccause he usually pays by card. Go figure.

Not unreasonable and I wouldn’t be put off but I no longer carry cash. If it’s affecting you can you raise your prices by the equivalent amount you get charged? Like if you charge £30 for something make it £32? Most places I go to will ONLY take card now, it’s only personal services that seem to still take cash (hair salons, beauticians etc).

Unless you are diddling the system then your sign is incorrect. Business bank accounts have fees for paying in cash, and you pay tax on that cash too. When you factor in time and mileage for doing the banking, cash fees are no less than card, unless you've not negotiated a decent card deal.

I understand your reasons OP but honestly I almost never carry cash and this would not change my behaviour.

So many banks have closed their branches and when I use cash machines when I am on my own I always have a bit of anxiety that someone could be watching/mug me so using cards just makes life easier.

I would be pleased to see that sign. I get irritated by signs that say card payments only.

Yanbu to put the sign up; I see many like it in little businesses, but although I prefer to pay as many people in cash as possible, I don’t carry it day to day, so would still be card for me.

Yes there is To not pay card charges. Would you be happy to have 3% of your wages taken in " charges"

Not if you are paying other people in cash rather than bunging it in a bank account

So I must pay extra charges to withdraw cash from ATMs and drive for ages to find an ATM to supplement business owners wages? is that what you are saying?

Yeah....no. I am not doing that. Business owners need to factor in that cost when they are selling their items. It's isnt my responsibility to put myself out of pocket and at an inconvenience for business owners to make more money.

Besides, carrying cash around is a risk. You can cancel a card, you cant cancel cash.

The only way I’d pay cash was if you offered a discount for cash. Say what you will but there is no way people who are taking cash are not running two sets of books (unless they are dense). Given this, fine, whatever, but you need to share the saving with me.

Pay extra charges for ATM? I certainly never have.

Tell us how much it costs in bank charges to pay in £200k over the counter!!

Lots of suppliers don't take cash anymore. Maybe your little Mrs Miggins making a few cookies in her kitchen will take cash, but the bigger suppliers, wholesalers, etc don't allow their van drivers to take cash due to the risk of loss, theft, fraud, robbery, etc.

Personally I would be more likely to use your business if I saw a sign like this, although as someone suggested a simple "Cash preferred" sign might be better.

I find this interesting - why would you be more likely to use it?

A lot of ATMs round here add a charge to withdraw money. A lot of the free ones are randomly out of order.

Oh. I think only one charges here.

well bully for you! Every ATM where I live charges to take cash out and not only that, you have to drive around finding one that even bloody works so no, I am not doing that.

I'd assume you were dodging paying tax and wonder if the business was really a front for something else.

Another one who has never had to pay to use an ATM, and they are local, so no problem. If I did have to pay, I wouldn't use them.

As long as I am not made to feel like a nuisance, I would still shop anywhere with a notice that says cash preferred but cards accepted.

There are some very suspicious minds on this thread.😆

Since I cottoned on that the local taxi drivers take cards the last reason for me to carry cash has gone.
I'd probably make an exception for a small transaction (sub £5) at a small business if I knew in advance, but £70-£100 for a massage etc, no chance. I can't think of the last time I took more than £40 out in one go.

If you're in the beauty industry you may be selling an image and a high-end vibe. I wouldn't risk disrupting that for a tiny percentage on your profit. I would expect to see these kind of signs in a newsagent or similar. If you're a more bargain basement kind of place, crack on.

Just make the sign simpler - 'Cash preferred, but card still welcome'. Cover all bases and questions.

I work for a small business - my boss is happy to take either, but does find cash to be a bit of a pain - always needs a float, needs to ensure a supply of coins, has to bank majority of it at the end of the day, and still gets charged bank charges on it anyway. But he takes cash because he has a lot of older customers who still like to pay in cash.

"I run a small business and we are taking SO much less cash than we used to. It's really having an effect on how much we are taking"

Why is having a choice of cash or card having an effect on your takings? Surely having a choice means you are catering to all customers, so this can only be good for takings? If you are taking less cash, that's an indication that people these days generally prefer to use cards, and IME will sometimes actually spend a bit more if they don't need to check how much cash they have on them. Not everyone carries much cash. Or do you mean the profits are less due to bank charges?