Cash Only, Dollar Bills Greater than 50 not accepted...?

Question

I know many stores put signs reading, "Cash Only", or "Dollar Bills greater Than 50 not accepted", but can they really reject credit cards or a $100 dollar bill? I was told that money is money, whether paper or plastic, and if I am to hand it over to a cashier in a store reading either sign, they must take my card or $100. Is this true?

Answer 1

No merchant is required to accept credit cards. Those who accept them, do so as a convenience to their customers, and they do it because they believe the expenses they incur by accepting credit cards are offset by the additional business they hope to gain.

Any business can reject a $100 bill. They're doing it because there are so many counterfeit $100 bills. But, they also may do it because they want to keep less cash (for making change) in the till. Is it legal? Sure.

Answer 2

In a free market they can choose to accept or reject your money. The reason that a lot of places don't accept credit cards is because they get charged by the credit card companies so if they are small purchases they don't get the margin they want. As for the bills under $50, they do that because those are the bills that are most familiar to cashiers so they are more likely to spot a fake. Also, for some reason counterfeiters always make $100 bills.

Answer 3

They can reject credit cards if they don't have the tools to run a credit card transaction and also they might not be able to accept a 50 if there is not enough cash in the register to afford to give change. Some only keep like 75 dollars in the register to keep robbers from wanting to rob their store.

Answer 4

If it is a small store, they may not have arrangements with the major credit card companies, so they do not have to take the credit cards. Also, they may not have enough money to give change for $100.00 bill. So I would say they have the right to make their own policies.

Answer 5

usually is they say cash only, it is because they have no way of processing credit cards, so giving a credit card to them would be useless. If they say no bills greater than 50, it is probably because they have limited refunds for change and so they wouldnt have enough change to cash out your bill. So, no they dont have to take your card or large bill. :)

Answer 6

They don't reject it because they don't like it or don't want it.
They do it because:
A.) people counterfeit money ($100 bills are most common)

B.) some machines just don't support the kind of credit card you're using.

Answer 7

Sure, but don't expect to ge tyour card back. What if the store doesn't have a card reader? They just gonna take down the numbers and say, "Thank You very much, your transaction is complete!"

Answer 8

Umm, no. They may not have the change, and they may not have one of those swiper thingies for the credit card.

Answer 9

i know why they dont, ( they dont wanna give you hella change/possible counterfiets), but i dont what they can or cant do legally