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

I can’t understand how cards are so much more expensive for you. IME banks charge a fortune for handling cash so I would assume that at least some of your income was not being declared. I also wouldn’t be likely to have any cash so would pay by card anyway.

Thanks all, appreciate the input.

results are interesting so far 23% think IABU and 77% think not.

Its probably not worth potentially losing the custom of those 23% for the potential increase in income.

Interesting stuff!

Personally I'd keep it concise - We prefer cash as it helps keep our costs and prices down, but also happily accept cards and bank transfers. Job done.

I don't find it rude, but you may find some people feel pressured to pay cash and go elsewhere or something people may ask why they can't have a discount if it's saving you money.

The results might be different with the simpler sign though

As others said quite wordy and sounds like you’re not wanting declare your earnings. Bank transfers don’t cost money..

I put a % on all card payments and make the clients pay the fees. Would this work?

True!

I'd just put a sign up saying "cash preferred" as a pp said.

However, I don't like queues, I'd much rather take card payments than have to take the cash takings to the bank every so often. And there are so few banks now too. But each to their own.

Edited: as far as I am aware you cannot charge extra for card payments in the UK, I've linked the guidance below.

Is that currently legal, if you're in the UK? If you aren't and OP is, I don't think she can do it.

If you are in the UK, you might want to read this.

https://www.gov.uk/government/publications/payment-surcharges

Try shopping around for a better business bank account.

I don't love the tone, it's too long and a bit pleading. But that's just me, I also get annoyed with websites that send marketing emails that are too chummy and sign off with 'hun' etc (looking at you P.Louise and White fox who spammed me after buying one item at Christmas for teen niece.)
I'd make it more to the point. But as a customer would have no issue with the request itself especially if it was for something like a hairdresser or beautician that I use regularly so would know in advance to bring cash with me.

Small independent businesses want all the custom they can get.

Paying by card may be the easiest and simplest option for you, but for the business they will take a hit financially due to the transaction fees. It’s no difference in price for you, but it is to the business.

No wonder so many small businesses are struggling in today’s financial climate.

The (edited) sign wouldn’t bother me. I wouldn’t assume you’re tax dodging.

but I’d be miffed at your reference to supporting small businesses.

1. not all small businesses prefer cash. Some see the cost of card transactions as value against having to trek to the next town for banking, risk of robbery etc.
2. i am supporting your small business by shopping with you rather than going to the cheaper multi-outlet competitor down the road.

Don’t you get charged for banking cash into your business account?

I think a lot of business that are taking cash are paying workers in cash!

Making a point of what your payment preference is is fine but I would shorten it. This has got me thinking, all of the local nail salons and Chinese takeaways only accept cash. Why is that 🤔

I would just put 'Cash payments welcome' then you're not potentially upsetting customers who prefer to use card. I think some customers assume most businesses are cash free now. I get someone asking if they can still use cash in my shop most weeks and come payday the till is mostly cash!

I've seen signs like this and don't mind at all. I will pay cash if I have it when I see this sign. I have had staff roll their eyes when I've paid cash in some places, seems too much effort for some to deal with cash, so this would signal you're not one of those.

I would be happy to support your business with cash. DH and I are strong advocates of a cash society, it's really important not to let cash die out and small businesses are at a disadvantage with digital transactions due to the overhead. Big businesses can take it but to an SME it's a chunk of money out of your profit that is difficult to recoup,

These sorts of things are why I tend not to use small businesses. I just want my item not a sob story. If you can't afford the costs of card payments you need to increase your prices to cover the card transaction costs by that tiny fraction. You are not thinking about it from your customers point of view, your business costs are not relevant to them they have come to you to buy the product they want as easily as possible. It doesn't make sense to make people guilty or uncomfortable about using the easiest, safest payment method. It's always so refreshing to go to craft fairs and stalls and have them bring out a card reader, I just don't bother with places that won't, it's ridiculous.

I voted YBU because sign is confusing. Keep it simple and say Cash preferred.

I simply no longer carry cash, no idea how the 4 homeless people begging outside of Tesco last week are managing! You can ask for cash, but I’d still pay using my phone.

The local takeaway is cash only and the cash point next door charges £1.50, so when I moaned last time, they took £1.50 off the price, which I thought was lovely, but defeats the purpose of only taking cash.

Why assume that? A business I do some work for prefers cash but it's all declared. Maybe your mindset works like that but not everyone is dishonest

Just write “cards welcome. Cash preferred.”

Just say 'Cash Preferred'. Lots are keen to keep cash alive and will support. For others they can still pay with card. No-one will mind.