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

Yes this is a good point too. The only places I have seen requesting cash are very small bargain type shops that were a bit tatty. I’ve never seen a high end spa or beauty salon asking this. Ever.

I'd be wondering how else they were making "savings". Cheap products dressed up as luxury and so on.

I'd also believe they weren't declaring everything.

I'm lucky enough to have small business butchers and fruit shop nearby.
Some time ago I got wind of just how much they have to pay in fees for card transactions and since then I draw cash out every week to use for them and small businesses, cafes etc to make it cheaper for them to process my business. I see it as a personal responsibility to make their lives easier and help keep them in business, and occasionally get a small discount or bill rounded down.
How old fashioned eh?

If I see 'card payments only' I go elsewhere.

I buy very little from online shopping too. My Amazon account took a purchase in 2012 and the next a few weeks ago. I won't be troubling them for a good while either, then it will be a absolute need, not a want.

My moment was my annual bus ride to pick up my car after its annual service.

What an absolute bloody faff it was withdrawing £10 for the sake of one transaction.

I nearly cheered when they installed contactless payments. And the drivers must be much happier since floats were always a huge problem at the start of a shift.

I see it as a personal responsibility to make their lives easier and help keep them in business, and occasionally get a small discount or bill rounded down.
How old fashioned eh?
If I see 'card payments only' I go elsewhere

If you see it as a personal responsibility to make their lives easier, why do you refuse to use places that want card payments only? Many small businesses prefer card payments, so do you not want to make their lives easier too? Or is it that you only want to pay in cash - your choice, of course, but in this case you are doing purely for your own reasons, not for the business.

It reminds me a bit of my MIL. She's decided 'cash is king' and refuses to pay for anything on her card, or even a bank transfer. She had a decorator do some work, so travelled on the bus to our nearest town 8 miles away, withdrew £600 in cash, handed it to the decorator. The decorator was more than ok with a card payment or a bank transfer, but no, now they had to travel back to the bank 8 miles away to pay the cash in. What a waste of everyone's time! Just because MIL believes that cash is king.

I imagine there is a large crossover between people who believe cash is king and those who have plenty of time on their hands to run this type of errand...

@Theydidnt How much does the bank charge you for depositing cash?

I ran a business (a shop) for years, and there were banking fees associated with cash deposits. Credit card processing fees went down loads after companies such as Sumup, PayPal etc entered the market, but banks don’t tend to handle business customers’ cash for free, so I’m wondering how it would save you money if more customers paid with cash?

Wouldn’t bank transfers be the cheapest (i.e. free) option for you?

@NDerbys32 Some time ago I got wind of just how much they have to pay in fees for card transactions and since then I draw cash out every week to use for them and small businesses

How much do you think they are paying in fees on each transaction? In my business it's small, 1.69%. I could probably get it even lower if I shopped around.

Sometimes I think people exaggerate the fees to make customers think they are enormous so they will pay cash.

I trust them. Known them for years. It works for us both ways.

As a small business I get charged by my bank for depositing cash and I have to spend time entering cash deposits manually into my accounting software.

I much prefer cards (although I accept cash with a smile). My time is important to me and I don't want to spend more of it in admin than I have to.

The nearest free ATM to my village is 8 miles away. The nearest is 3 miles away but charges.

YANBU and I think the wording on that script is fine to use. I certainly wouldn't be offended by that.
As others have said I would agree that since covid, many people, myself included, have got into the habit of using less cash and now prefer card use.
Also, local to me, more bank branches have closed and some cash machines have gone too which is making cash usage much harder.

You do know that is illegal in the UK? We are not allowed to charge customers extra for using a card.

It’s v wordy as I’m sure most people would understand. A local portacabin cafe near us has “ we prefer cash if possible, but accept all payments with gratitude “! I think some people love paying cash so will be delighted ( as many places don’t take cash now ).

What are you selling? I'd definitely assume that it's a tax dodge and would not choose to pay in cash.

You’re looking at between 1 and 2 % per transaction for sunup and stripe but the OP says clearly she can keep all the lovely money if you pay by cash Rodders.

so blatantly a tax dodge .

Whenever I see ‘cash only’ or ‘cash is king’ I assume either the business isn’t financially solid or it’s run by Reform voters.

I agree with the proofreading comment, the letter e being missing from the.

Local butcher gives 5% discount for cash payment. Discreet sign on counter. Local hairdresser will take only cash or a bank transfer. Both small businesses, unlikely to be tax dodging, just trying to avoid bank card charges.

I would feel like I was unable to pay with card (even though it says that you can, but it sounds a bit awkward). If I can get the same goods or services (even if more expensive) from someone who gladly accepts cards, I will do that.

I used to make and sell stuff at fairs and whilst I preferred to have cash and not pay the fees, I wouldn’t dream of pointing that out to the customer.

We have places like that locally and unfortunately I no longer buy anything from them. So few people carry cash, in fact if I do have some, I pay it into my current account as soon as I can. I often don’t have a purse or cards with me, so if I can’t pay with my phone then I don’t bother.

And I’m autistic so would feel very awkward about paying by card after reading that sign, wouldn’t say anything, I would just go elsewhere

As an expat living in America most of the small businesses in my area either have a sign saying card payments will have a 3% fee added, or they’ve upped their prices and offer a discount for cash.

Maybe interesting but irrelevant as posters upthread have said, that's illegal in the UK!

I rarely, if ever pay using cash. I have a smart card that charges me 24 hours after travel for my train journey. I pre-buy QR coded bus tickets (day tickets) online, so I don't get that much change given to me.

But if there is an establishment that lets me know they prefer cash, I will accommodate that - indeed, this is the case with my hairdresser. I'm not going to be judgemental or accuse them of dodging tax - they operate in a very competitive environment and are definitely not living high on the hog.

Just let me know in advance and I will make the decision based on whether I have any money with me, and/or if there is an ATM nearby if not. What I hate hate hate is going to places that ASSUME you will pay cash and only tell you when coming to pay. And I have - before now - been somewhere where there was no nearby ATM and no prewarning - and offered to pay by bank transfer, which was refused. That's suspicious.

So long as someone doesn't post that utterly pathetic FB/social media post about "paying your hairdresser £50 cash and them using that to buy supplies etc etc".

This obviously involves mythical free business bank accounts that allow people to pay cash in for nothing, and probably them avoiding tax.

Don't. Please, just don't.