Will Businesses Stop Accepting Cash Payments?
The world has changed a lot since 2020. Movie theaters aren’t as packed as they used to be. Department stores are shutting down left and right. But something most curious is how cash payments have almost disappeared in less than 2 years. Will businesses stop accepting cash payments? A Florida Bill introduced would ban most businesses from going cashless.
There’s nothing more annoying than checking out at a store and the employee saying, “card payments only.” Just a few years ago, ‘Cash’ was the word that made the world go round, but recently it’s seeming to go extinct.
What does bill HB 35 propose?
For starters, this bill that is going through lawmakers in Tallahassee to offer cash as a form of payment, when the customer is physically present at the time of purchase. Under the bill HB 35, businesses are prohibited from charging a fee or placing any sort of conditional on cash payments.
If this bill passes through, it would go into effect on July 1, 2024. Bill HB 35 states, “Requires certain businesses to accept cash payments for certain transactions; prohibits fees or conditions for such transactions; provides applicability & civil penalties; requires DACS to adopt rules.”
Some companies or businesses that would be exempt from this bill are attorneys, insurance agents and medical services/providers. There is a similar bill in the senate that has already passed through one committee.
Are more people using cards instead of cash?
According to a survey done by Visa, 51% of small businesses have plans to become cashless within 2 years. Another 95% plan to go completely cashless someday in the future.
Another survey done last May by the Federal Reserve Bank of San Francisco, 18% of consumers had reported that they carry cash. This figure is down 31% from 2016.
You might ask yourself, “why does it matter if businesses go cashless? Doesn’t that make it easier and more efficient to pay?” Over the past few years more and more businesses have denied my cash payments because they can’t provide sufficient change. That’s concerning considering cold hard cash was and should be taken over any form of electronic payment.
Will businesses stop accepting cash in the future? Let us know your thoughts and for more information on bill HB 35, click here.
5 Florida Laws That Go Into Effect January 1, 2024
Sheriffs Providing Child Protective Investigative Services
House Bill 7071 will require the transfer of child protective investigation services from the seven sheriff’s offices that provide those services back to the Department of Children and Families. DCF currently has contracts with Walton, Seminole, Hillsborough, Pasco Broward, Manatee and Pinellas counites. This transfer will make the DCF the only entity performing child protective investigations in Florida. Read More
State Park Campsite Reservations
House Bill 109 allows Florida residents to reserve state park campsites and cabins one month before non Florida residents. Florida residents can reserve an RV, tent, boat, and equestrian camping up to 11 months in advance. Non Florida Residents can reserve up to 10 months in advance. Florida residents mush show proof that they live in the state. Read More
Pretrial Release and Detention
House Bill 1627 says that only a judge may set, reduce or otherwise alter a defendant’s bail. Also requires that the Florida Supreme Court adopt a uniform statewide bond schedule. Read More
