Paper money is going away in the very near future and being replaced by card payments or electronic transfers only. Within 7 or 10 years, paper money may be history and not legal tender anymore unless we insist on continuing to use it.
It can be very tempting in your clinic to only accept card payments as then there is no cash needing to be securely stored to prevent loss or theft, reconciling the books is easier and no trips to the bank for paying are required. but before making a decision it is useful to consider all sides of the “coin” (excuse the pun)
“If cash is legal tender, are businesses breaking rules by only accepting cards”.
Money Saving Expert Martin’s answer was simple, the Mirror reports.
“No, they are not breaking any rules,” he said.
“You are allowed to take card only as long as it’s not discriminatory for race or disability or something.”
“Legal tender has a strict definition.
“It means if you have a court awarded debt against you, if someone tries to settle and they’re paying in legal tender you cannot refuse it.
“And that’s all it means.”
As to whether it’s time to switch to a cashless society, Martin had made an excellent point.
“I know many people are saying ‘why don’t we just switch to a cashless society?’ – I don’t want that, because there are many vulnerable people who need cash,” he said.
A cashless society means no cash. . Zero. .
Cashless means fully digital, fully traceable, fully controlled. I think those who support a cashless society aren’t fully aware of what they are asking for.
A cashless society means:
* No more tuck-away cash for those preparing to leave domestic violence.
* No more purchases off marketplace unless you want to risk bank transfer fraud.
* No more garage sales.
* No more cash donations to hungry homeless you pass.
* No more cash slipped into the hands of a child from their grandparent.
* No more money in birthday cards.
* No more piggy banks or tooth fairy for your child.
* No more selling bits & pieces from your home that you no longer want/need for a bit of cash in return.
* Less choices of where you purchase based on affordability.
What a cashless society does guarantee:
* Banks have full control of every single cent you own.
* Every transaction you make is recorded.
* All your movements & actions are traceable.
* Access to your money can be blocked at the click of a button when/if banks need ‘clarification’ from you which could take weeks, a hundred questions answered & five hundred passwords.
* If your transactions are deemed in any way questionable, by those who create the questions, your money will be frozen, ‘for your own good’.
I’m sharing it because maybe we all need to take off our blinkers.
Cash has been around for a very, very long time & it gives you control over how you trade with the world. It gives you independence.
- If you are a customer, pay with cash.
- If you are a clinic owner, let people pay by cash
- Cash is a legal tender
Please accept cash, pay with cash & please say no to a cashless society while you still have a choice.