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Are businesses required to keep a certain amount of cash in the register?
Posted on 1/18/13 at 9:13 am
Posted on 1/18/13 at 9:13 am
I almost always pay cash but have noticed over the last few years that some small businesses cannot make change for large bills. With so many people paying with cards these days it's understanable, but are there any laws that require them to keep a certain amount of cash on hand to make change for customers paying cash?
11
Posted on 1/18/13 at 9:19 am to Rohan2Reed
quote:
but are there any laws that require them to keep a certain amount of cash on hand to make change for customers paying cash?
Unless its a bank or something I sure hope not.
Posted on 1/18/13 at 9:20 am to Rohan2Reed
Why on earth would there be such a law?
Posted on 1/18/13 at 9:22 am to Rohan2Reed
No. But most businesses set a minimum drawer amount to keep in their drawers to make cash transactions for the following day and deposit the rest.
Posted on 1/18/13 at 9:27 am to Rohan2Reed
There are no laws that I'm aware of, I start each night with a set amount. If the first two customers come in and pay with $100s then I'm screwed 
Posted on 1/18/13 at 9:44 am to Rohan2Reed
Hey Big Spender, quit using hundred dollar bills to pay for your chewing gum.
Posted on 1/18/13 at 10:17 am to Rohan2Reed
quote:
but are there any laws
Move to New York. Im sure there is a law in there somewhere.
Posted on 1/18/13 at 10:43 am to Rohan2Reed
You're not impressing anyone taking a $50 bill to the snowball stand, broke *****.
Posted on 1/18/13 at 10:43 am to foshizzle
quote:
Why on earth would there be such a law?
Well I ask because I've read some pieces saying that more and more business are doing away with cash registers, checkout counters, etc and modeling themselves after places like the Apple Store. J.C. Penney announced last summer an overhaul of their system of payment to go toward mobile checkout and self-checkout systems.
I just wonder if we are moving toward an age where cash is no longer relevant. To me it's scary that we could one day find ourselves where the only claim we have to our money is a figure on a computer screen.
Posted on 1/18/13 at 10:44 am to kengel2
quote:
Move to New York. Im sure there is a law in there somewhere.
Why would New York be the only state to have such a law? And if it did I would think it would be an overreach by the government.
Posted on 1/18/13 at 10:47 am to Rohan2Reed
quote:
To me it's scary that we could one day find ourselves where the only claim we have to our money is a figure on a computer screen.
BITCOINS, BABY!!!!
Posted on 1/18/13 at 11:04 am to Rohan2Reed
quote:
Why would New York be the only state to have such a law? And if it did I would think it would be an overreach by the government
It was a joke, with all the gun stuff going on. It seems New York is trying to take away the peoples right to think.
I guess you could add in California.
Its definitely an over reach, I agree with you.
Posted on 1/18/13 at 11:13 am to kengel2
quote:
It was a joke, with all the gun stuff going on. It seems New York is trying to take away the peoples right to think.
I guess you could add in California.
Eh. I don't get caught up in labeling entire states as too red or too blue. I've lived in both of those states and found that the attitude of the general public varies across the spectrum. Problem is the lawmakers are usually overly zealous in their attempts to engrave their names into the public lexicon of "powerful minds" and attempt to pass legislation out of step with the voting public and rational thought.
Posted on 1/18/13 at 11:16 am to LSURussian
quote:
BITCOINS, BABY!!!!
I'm thinking about Bitcoin farming. It's being said that if Bitcoins are the standard for transaction in online gaming it will be legal because there will be no currency involved in the gambling process. If that happens the value of Bitcoins could potentially skyrocket.
Posted on 1/18/13 at 1:30 pm to VABuckeye
quote:
the value of Bitcoins could potentially skyrocket.
I'm putting all of my spare money into unicorn horns......
Posted on 1/18/13 at 1:46 pm to Rohan2Reed
quote:I bet at some point in history someone said that about paper
To me it's scary that we could one day find ourselves where the only claim we have to our money is a figure on a computer screen.
Posted on 1/18/13 at 1:47 pm to yellowfin
If they did then their point of view would be based on something separate than what I'm talking about. Which is, primarily, tangibility.
Posted on 1/18/13 at 1:59 pm to LSURussian
quote:
I'm putting all of my spare money into unicorn horns......
Well, there's always that.
Posted on 1/18/13 at 4:39 pm to Rohan2Reed
Casinos are
Posted on 1/18/13 at 4:55 pm to Rohan2Reed
quote:I am almost certain that the answer is no. In fact, I don't think businesses are even obligated to accept cash as payment. IE, if they want to accept credit card only, that's their prerogative. (Just my opinion though, I could be wrong)
Are businesses required to keep a certain amount of cash in the register?
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