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

It's not always the card transaction fee. Some card machine companies charge a rental fee for the machine and a processing fee as well.

To be honest I’d like this and would make a point of giving you my business. I’m absolutely sick of places refusing to accept cash, and being forced to pay by card everywhere I go. Not everyone wants a cashless society.. All power to you!

It would annoy me, you need to factor in card cost to your prices rather the guilt customers, i would also presume the reason cash is preferable is because it’s not going through the books - this might not be the case but it implies it in my mind. Bank transfers are free anyway.

You've asked people to pay cash but highlighted the words "no cash no problem" which looks odd.

In principle it's a fine request but I'd amend the notice.

Quite a few of our local shops have signs that are very similar and I think it's fine.

The line rental / card reader charge is really quite nominal though.

BTW you need to go with a cheaper provider, I pay 0.6% and refuse to take American Express

The place where I get my nails done gives a small discount (maybe £2?) for cash.

I am happy to pay them cash

My hairdresser has this sign, it’s only stating a preference ,
I can’t see an issue . It reminds me to make the effort to get cash out 😊

I automatically assume it is a tax dodge when I see these signs. There is a massive soft play near me who takes cash only, why? Every chinese takeaway in Scotland is cash only, why?

I haven’t used or carried cash for years. I only ever have it if I’m going somewhere I’ve been warned is cash only in advance but I don’t like it, it’s a pain. So yeah, sure, put the sign up but don’t expect many people to use cash.

Why not offer discounts to people who pay by cash or bank transfer.

Dear Customers, As a small business we unfortunately get charged by the banks for all card transactions. If you would like to pay by cash or bank transfer we will pass on a X% discount to you.

I don’t think you can legally state that . My local Chinese takeaway used to do that & remember them telling me they weren’t allowed to anymore

How much does it cost you to bank cash? Unless you have a not busy bank just down the street, the loss of time, the 1% business bank charges for paying in cash, is it really the money saver you think it is? Or do you never pay cash into the bank? That doesn’t sound very secure.

correct! they can’t do that it isn’t legal any more.

I think around here iits usually a bit more blunt “cash is king but we are understand sometimes you might need to use your card”

Depends how small the business is really doesn’t it.

My local Chinese takes card. The chippy next door is cash only.

Isn’t that the exact same scenario though?

Someone pays on £100 on card, there’s a £2 card fee that comes off so she’s left with £98
vs giving someone a £2 discount on a £100 service and she’s still left with £98?

Also I know several businesses that are cash only ,including a dog groomers, they always looks super busy so obviously doesn’t affect their trade .

I’m very pro shops being cash only, it’s very risky to be a cashless society and it’s very hard to teach our children the value of money and budgeting if there is none to see and hand over!

Our local cash machines only disperse one increment of bills. So if I am making a small purchase with cash, the business has to make change.

I always ask a small business if they prefer cash or card in that scenario. Most say card because it is hard for them to keep enough change on hand.

I figure they rightly set their prices to account for the transaction fees.

"Cash preferred" is enough, I think.

What is the % fee on top?

I've seen a sign that just says cash preferred. It doesn't bother me, I actually like the reminder to keep some cash in my wallet. I don't think it needs to be that wordy.

GOV website.

Hidden charges for paying with a debit or credit card will be banned from today (13 January), helping millions of UK consumers to avoid rip-off fees when spending their hard-earned money.
So-called ‘surcharging’ has become commonplace, particularly online, with many retailers hitting people with surprise charges just before they are about to make a purchase. Some retailers have been known to add charges which are far higher than it costs them to process a payment. It is estimated that surcharging cost Brits £166 million in 2015.
Today’s ban means that it will be unlawful for retailers to charge additional fees when someone uses a particular credit or debit card, or other payment systems like PayPal, to make a purchase. This will ensure consumers can be confident that there won’t be any nasty surprises, and they won’t be penalised for wanting to pay in a particular way.
Economic Secretary to the Treasury, John Glen said:
It’s completely unfair for someone to be hit by a hidden fee just before they are about to make a purchase, so by scrapping these rip-off charges we are helping to give power back to the consumer.
As we build a fairer society, this added transparency ensures buyers can make informed choices about how they spend their hard-earned money.
The new rules will be enforced by Trading Standards who will have the power to take civil enforcement action against traders who breach the regulations. It will also entitle customers to receive a refund of any unlawful surcharge they have paid and enable them, if necessary, to take legal action to recover any such surcharge.
The ban on credit and debit card surcharges is effective across the EU from Saturday 13th January 2018, and will apply to all purchases made where the banks of the consumer and retailer are within the EEA. In the vast majority of other circumstances surcharges are capped at the cost to the retailer for processing the payment. The UK Government took the decision to also include other payment methods such as PayPal in the ban to further protect consumers.

-----------------