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Bluestone, which now has 20 stores in the U.S., went cashless last October.
A big reason: Nearly 90 percent of customers [...] never paid in cash.
Another reason: The lines move faster when employees don't have to make change.
"We see a lot of guests that pay for a meal with a credit card, but will always leave a cash tip. And I think people like doing that. People like palming a bartender a $20 or palming their server a $10. Palming the bus boy a couple bucks," said Fileccia.
There are also people, he said, who want to keep their meal off the books — if they're having an affair, for example.
No, businesses are not required to accept cash: https://en.wikipedia.org/wiki/Legal_tender
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When The Cash Register Doesn't Take Cash
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Tomorrow, you can be anywhere.
(Score: 3, Insightful) by FatPhil on Tuesday January 09 2018, @01:56PM (2 children)
What kind of perverted banking system do you have over there?!?! I pay for them to look after my money. I pay for them to accept more of same. I pay for them to give some of my money back to me. I'd pay even more for them to lend their money to me. I pay for them to tell me how much of my money they have. I probably have to pay ground rent while waiting in a queue at the ATM, they're such ferengi.
Great minds discuss ideas; average minds discuss events; small minds discuss people; the smallest discuss themselves
(Score: 2) by ledow on Tuesday January 09 2018, @04:15PM (1 child)
UK banks - I pay my bank nothing. There is a "premium" account that you do pay and get discount travel insurance, etc. but the numbers don't add up enough for me to bother. They keep trying to con me into it, I keep saying no, like most people I know.
No charge for a card (Visa/MasterCard).
No charge to pay in.
No charge to draw out.
No charge to set up PayM or PingIt (depends on which bank which one you use).
No charge to send via PayM or PingIt.
No charge to NOT send anything via PayM or PingIt or equivalent (i.e. if you don't use it very often).
No charge to talk to someone.
They pay me a couple of quid in interest every month. It's really not worth the effort to bother about it.
Sure, if I go overdrawn they charge fees and interest. That's expected, it's basically unarranged credit. But I don't pay for banking services. I can't fathom those who do. Businesses, sure. But personal accounts? Bugger off.
That's why they have a certain rule, though. You must pay in so-much a month, each month, even if you immediately spend it. They use that to (presumably) generate further interest on that which they keep, and that's the threshold to make it profitable for them to do so. Pretty much every working individual or person receiving benefits will do just that without fail every month.
People whine about the banking system but they hold my money for free and have to comply with legislation which guarantees I get that money back. And give me a card. And sort out mistakes. And have somewhere I can go to argue or pay in cash etc.
That side of banking, the high-street banking? I can't fault that. And I've blacklisted at least three banks permanently from my life for other things.
The irony: If you're a foreigner with no UK credit history, they will charge you for a "basic" bank account that does nothing and has a card you can't even really use online. Even if you earn twice as much. My girlfriend found that out. Only after a few years, or if you move elsewhere, will they give you a "real" account.
(Score: 2) by Pino P on Tuesday January 09 2018, @07:41PM
The one downside of a "free checking with payroll direct deposit" offer happens when your employer isn't large enough to offer payroll direct deposit, instead requiring employees to either accept paper payroll checks or resign. Or when you're a contractor instead of an employee; there's no "payroll" to speak of, and there may not be a deliverable every month. I've been in both situations.