Can businesses refuse to accept cash? Consumer journo Wendy Knowler explains
Some businesses in Cape Town appear to be refusing cash payments citing either security or Covid-19 safety concerns.
Cape Town resident Andre van Heerden has told CapeTalk about two recent experiences where his cash was turned away.
However, consumer journalist Wendy Knowler says all notes and coins ever issued in South Africa remain legal tender, according to the Reserve Bank.
Knowler spoke to an official at the SA Reserve Bank who stated that there was no new directive regarding the use of cash in light of the Covid-19 pandemic.
Cash can only be refused if there is a reasonable suspicion that it is counterfeit money, she explains.
It would appear there hasn't been a special Covid-19 directive issued [regarding cash payments].Wendy Knowler, Consumer journalist
Any amount in banknotes may be offered for payment, but there are certain restrictions on the number of coins you can offer in a single transaction.Wendy Knowler, Consumer journalist
The only time shop management can refuse to take cash is if they have a genuine and justifiable belief that the cash is counterfeit.Wendy Knowler, Consumer journalist
Meanwhile, Andre says he was told by two local businesses that they would only accept card payments.
Quite recently, I've had payment in cash refused at two different stores in Cape Town.Andre van Heerden, Cape Town resident
They both insisted on paying by credit card and both cited the security risk of handling large sums of cash.Andre van Heerden, Cape Town resident
It's always been my understanding that as a consumer that the choice is mine, and that cash as legal tender must be accepted as payment for goods and services.Andre van Heerden, Cape Town resident
Listen to the discussion on Afternoon Drive with John Maytham:
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