City establishments must accept cash payments or face $1,000 fine.
The New York City Council voted to ban cashless businesses Thursday. Under the new law, stores and restaurants must take cash payments or face a $1,000 fine.City establishments must accept cash payments or face $1,000 fine. By January 23, 2020, 8:26 PM 4 min read 0:30 Cashless stores and restaurants to be banned in New York City under new law New York City's Council voted Thursday to prohibit businesses from only accepting credit card, debit or digital payments. STOCK PHOTO/Getty Images Cash will remain king in Big Apple stores and restaurants. The New York City Council voted Thursday to prohibit businesses from only accepting credit card, debit or digital payments. There were concerns from elected officials that such stores and eateries discriminated against poorer customers who don't have access to bank accounts, according to city councilman Ritchie Torres, who drafted the bill. "Whatever your reasons, consumers should have the power to choose their preferred method of payment," he said at a news conference before the vote. File photo of SweetGreen in Washington. The chain went cashless, but changed it's policy in 2019. File photo of SweetGreen in Washington. The chain went cashless, but changed it's policy in 2019. File photo/The Washington Post via Getty Images The bill, which will take effect 90 days after it is signed, makes it illegal for any store to refuse a cash payment from a customer, but there are a few exceptions. Stores can refuse to take denominations larger than $20, and they would be exempt from the ban if they have a machine on site that can load cash onto a prepaid card. Online and phone purchases would also be exempt from the law, which fines first time violators $1,000. MORE: Amazon says it will soon accept cash at cashless stores A spokeswoman for Mayor Bill de Blasio said he supports the bill. Torres said this was a win for the city, especially its working class members. The city's Department of Consumer Affairs reported in October that nearly 11.2% of New Yorkers have no bank account and roughly 22% of city residents used alternative banking services, such as check cashing stores. "The marketplace of the future must accommodate the needs of vulnerable New Yorkers," Torres said at a news conference before the vote. The bill had pushback from some chain stores and small businesses that were cashless. During a hearing on the bill in February, Dos Toros co-founder Leo Kremer said his restaurant chain implemented the policy as a way to keep a tighter control of its finances and help customers get their meals quickly. "We are only interested in being cashless because it allows us to make our restaurant more seamless," he said. Dos Toros didn't immediately return messages for comment on Thursday's vote. Last year Read more: ABC News
Ok. Here are the rules if i previously had a cashless business: 1: exact cash only; no change given and 2: no more than 10 coins accepted in any payment. It's ridiculous that a city even has to make a law about this! This is a concession to Illegalimmigrants that may not be able to obtain a debit/credit card. Part of NYC's sanctuary city nonsense. The Globalists have to make this concession until they can figure a way for gov't to force the issuance of cards to those without a SSN.
This is because black and brown people are less likely to have credit/debit cards. CityofVancouver granville_isle Isn’t that a federal law? It's an armed robbers wet dream US Post Office should offer debit cards They meed to enforce this here in Aus!
New York on track to ban cashless stores and restaurantsNew York is on track to ban cashless businesses after the city council voted to join San Francisco and Philadelphia in requiring brick-and-mortar stores to accept cash. This is tricky. Money is legal tender for all debts, so on one hand they really have to accept it. On the other hand, do they have the right to determine how they run their businesses? I feel it boils down to why they're not accepting cash--crime or customer discrimination? Why can the government force a business to accept or not accept cash? Should be the business's choice. Old school style... Cash is king...
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