Anonymous wrote:I almost never have cash on me. I'd literally have to goto an ATM to pay. I'd rather restaurants just charge customers the cc fee if that's their issue (but I'm on team #shadyactivities)

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Anonymous wrote:A Vietnamese place near me only takes cash.
I think they hide a large amount of it, and/or pay their illegal workers in cash.
I am surprised it’s actually allowed for a restaurant to not accept credit cards. But I don’t care either way.

That could be but that's racist. It's usually because the credit card companies are charging 10% to the restaurants for usage.

It just happens to be a Vietnamese restaurant!
When I come across an Italian or an American one doing the same, I will suspect the same, I promise.
Not for a second I believe that a cash only place reports 100% of their cash.

and you could have said "small business owner near me" . . .

Ridiculous.

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Anonymous wrote:Definitely tax evasion. Years ago, my former federal law enforcement agency executed a search warrant at the home of the owner of a well know cash-only Peruvian chicken restaurant. Kind of like the movie Sicario, they found millions in cash hidden behind the walls.

no it isn't. Checks can be traced. haven't you been recently offered 10% off for cash or check? It's to avoid the 10% fees on the credit cards now

There is no 10% fee for credit cards. Stop repeating it.

Read and learn about Merchant Fees. https://directpaynet.com/lower-credit-card-processing-fees/

So you didn’t read your own link?

“Here is the range of average credit card processing fees per credit card network:

Visa: 1.4% – 2.5%
Mastercard: 1.5% – 2.6%
Discover: 1.55% – 2.5%
American Express: 2.3% – 3.5%”

Idiot.

Moron…

Maybe you missed all of the other ancillary fees charged by the company that provides those terminals charge ABOVE what the major credit card companies collect.

My dentist does not have a card reader which accepts Google or Apple Pay nor can it process cards with RFID as a new terminal would cost them $2000. This is of course having already had to get a new terminal to accept the chip cards years ago.

Moron!

What kind of dentist can’t afford $2000?!?

Anonymous wrote:I met a friend for breakfast this morning. He offered to pay. When I sat down, I noticed written on a dry erase board, “We accept cash or check only.”

I had cash in case he forgot he had offered to pay, but it was probably the first time I had been to a cash only establishment in awhile (that was not a dispensary). I was also in shock they still took checks.

Their policy didn’t seem to affect their sales as they were packed with a waiting line.

Have you been to other cash only establishments.

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Anonymous wrote:Definitely tax evasion. Years ago, my former federal law enforcement agency executed a search warrant at the home of the owner of a well know cash-only Peruvian chicken restaurant. Kind of like the movie Sicario, they found millions in cash hidden behind the walls.

no it isn't. Checks can be traced. haven't you been recently offered 10% off for cash or check? It's to avoid the 10% fees on the credit cards now

There is no 10% fee for credit cards. Stop repeating it.

Read and learn about Merchant Fees. https://directpaynet.com/lower-credit-card-processing-fees/

So you didn’t read your own link?

“Here is the range of average credit card processing fees per credit card network:

Visa: 1.4% – 2.5%
Mastercard: 1.5% – 2.6%
Discover: 1.55% – 2.5%
American Express: 2.3% – 3.5%”

Idiot.

Moron…

Maybe you missed all of the other ancillary fees charged by the company that provides those terminals charge ABOVE what the major credit card companies collect.

My dentist does not have a card reader which accepts Google or Apple Pay nor can it process cards with RFID as a new terminal would cost them $2000. This is of course having already had to get a new terminal to accept the chip cards years ago.

Moron!

Anonymous wrote:

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Anonymous wrote:A Vietnamese place near me only takes cash.
I think they hide a large amount of it, and/or pay their illegal workers in cash.
I am surprised it’s actually allowed for a restaurant to not accept credit cards. But I don’t care either way.

That could be but that's racist. It's usually because the credit card companies are charging 10% to the restaurants for usage.

Vietnamese here and no it's not racist. A lot of Chinese places around me take cash-only.
Of course it's to eliminate credit card fees, but it's also, obviously, so they can pocket a bit of tax-free income.
Tale as old as taxes.

or course it's racist. the PP could have said "small business near me" uses cash only

Anonymous wrote:We have a place on the Jersey Shore and lots of places there only take cash. I think Peter Luger in Brooklyn is still like this also.

Anonymous wrote:Never heard of checks but the cash is so they don't have to pay credit card fees or to hide it.

Anonymous wrote:Checks?! I love it.

Anonymous wrote:It’s either tax evasion or money laundering.

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Anonymous wrote:

Anonymous wrote:A Vietnamese place near me only takes cash.
I think they hide a large amount of it, and/or pay their illegal workers in cash.
I am surprised it’s actually allowed for a restaurant to not accept credit cards. But I don’t care either way.

That could be but that's racist. It's usually because the credit card companies are charging 10% to the restaurants for usage.

It just happens to be a Vietnamese restaurant!
When I come across an Italian or an American one doing the same, I will suspect the same, I promise.
Not for a second I believe that a cash only place reports 100% of their cash.

and you could have said "small business owner near me" . . .