Quote:
Originally Posted by Frank Hamister
I believe that it has always been a violation of federal law to refuse to accept cash to pay a bill. As otherwise noted in this thread check your cash bills and note the statement “This note is legal tender for all debts public and private”
|
Not exactly. Here is an excerpt from "federalreserve.gov":
"Is it legal for a business in the United States to refuse cash as a form of payment?
There is no federal statute mandating that a private business, a person, or an organization must accept currency or coins as payment for goods or services. Private businesses are free to develop their own policies on whether to accept cash unless there is a state law that says otherwise.
Section 31 U.S.C. 5103, entitled "Legal tender," states: "United States coins and currency [including Federal Reserve notes and circulating notes of Federal Reserve Banks and national banks] are legal tender for all debts, public charges, taxes, and dues." This statute means that all U.S. money as identified above is a valid and legal offer of payment for debts when tendered to a creditor."