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Yes a business can choose to accept any method of payment. Although our federal reserve notes state that they can be exchanged "for all debts public and private," that doesn't mean someone has to accept them. They can still choose to accept only electronic payments of dollars, or a check made out in dollars.
Wiki User
∙ 12y ago
William Blair
Not exact true. Of course the answer from the Federal Reserve puts money in the pocket Bankers. No business does not have to accept cash, but according to the Uniform Commercial Code, refusal to accept cash constitutes renunciation of the tendered amount and any such debt is paid in full to the tendered amount. But take witnesses, lots and lots of witnesses. Consult a honest lawyer in your locale on how enforceable Uniform Commercial Code is in your area. The Fed has a vested interest in turning a blindeye. Anybody up for a reverse run on the Banksters. (I am not a lawyer)
Wiki User
∙ 14y agoNope. Whatever they ask for is fair game as long as it's not illegal.
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Are businesses required to accept checks?
No -------------------- The short answer is no. State laws have some requirements for businesses to accept forms of payment, but generally speaking - a business owner can choose what form of payments they will accept including 'cash only'.
Where do they accept credit cards for a business or businesses?
Many businesses accept payment by credit cards according to information available on the internet. The information states that if a customer or other business department offers a credit card then that method of payment is acceptable as long as their is not a history of bad debt. A history of bad debt would require a direct bank transfer payment or cash payment.
Do Subways pay cash in hand?
Subway restaurants accept cash as payment for purchases. They do not pay their employees in cash.
Does dealextreme accept cash?
no,they can't accept cash they can accept payment by Paypal ,if you have credit card or debate card or other card,you can register in Paypal and fulfill the Payment if you have a credit card,you can also pay directly by credit card,check out by method three
Will they accept American dollars in St Petersburg?
Yes, if you pay by credit card. For cash payment required exchange U.S. dollars to the Russian national currency at any bank.
Why do people accept check for payment?
Paying by cheque means that you don't have to go to your bank, withdraw the cash, and carry the cash on your person.
What methods of payment are used in hotels?
All hotels will accept cash, debit or credit card. Only very small establishments will not accept cards.
What forms of payment does walmart accept?
Currently, debit, MasterCard/visa, cash and Walmart gift cards are payments that will be accepted.
We do not accept cash or we do not except cash.?
accept
What is the journal entry for prepaid expense when cash is not paid?
prepaid expenses are those expenses for which cash is paid in advance but if there is no cash payment then that is not prepaid expense and hence no entry required.
What are some companies do not accept credit card for payment?
Many companies do not accept credit cards for payment. There can be many reasons for this, but a big factor is the fee credit card companies charge the seller in order to process the payment. This is most common in businesses such as restaurants or convenience shops that process a large number of small purchases, where it is not an unreasonable burden on the customer to pay in cash. Many companies operating online also find it safer and more reliable to accept only online payment processors like PayPal, not only is it typically less of an expense but the company does not have to be responsible for securing credit card data.
Payment by check or payment by cash?
cash payment limited for budget 2010-2011
