All Businesses Do Not Have to Accept Cash
The Claim
Despite COVID worries, all businesses must accept coins and cash as payment.
News posted on
Emerging story
In late July 2020, users on social media, specifically Twitter, began posting that all businesses in the US must accept legal tender. The claims came in response to the COVID crisis inspiring some businesses to refuse legal tender for fear of spreading germs.
Misbar’s Analysis
Misbar’s investigation into this claim reveals it to be false. While coins and cash are made available by the federal government for any citizens to use as legal mediums of exchange, there is in fact no federal law that says private businesses must accept them, and private businesses are capable of using whatever medium they choose.
There are, however, some state laws that mandate acceptance of cash, especially since the start of the COVID crisis.
