You walk into a Lubbock store with a $20 bill, grab a few things, and head to the register.
The cashier looks at you and says, “Sorry, but we don’t take cash.”
Wait, what? You DON’T take money at your…store?
As weird as it might sound, lots of businesses are going cashless these days. If you’re wondering whether or not it’s even legal in Texas, the answer will surprise you.
Can A Texas Business Refuse Cash?
Photo by Allef Vinicius on Unsplashperson getting 1 U.S. dollar banknote in wallet
Sure. They absolutely can.
According to the Federal Reserve, there is actually no federal law that requires a private business to accept cash.
Despite all the rumors you’ve heard, Texas doesn’t have any general law requiring it either.
That means a Lubbock business gets to decide how they’re paid.
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But Do You Think They Should?
Photo by Igal Ness on Unsplashperson holding fan of 100 us dollar bill
That’s where stuff gets interesting.
People have big opinions on cash vs. cards.
Going cashless means making transactions way easier for businesses, but for people without bank accounts, or people who prefer to use cash, things are probably a little bit frustrating.
Personally, I love the convenience of being able to pay for everything with my phone. I always seem to forget my wallet at home, and tap-to-pay options have saved me a time or two. I also like to pay with cash sometimes, too, so I can see both sides of it.
What do you think, Lubbock? Shoot me a message at Chrissy.Covington@townsquaremedia.com and let me know how you feel about more local places going cashless.
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