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Why no cash?
- Thread starter carrollf
- Start date
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I think it's to keep people from hoarding them and then selling them unlocked and/or on places like eBay. It's infinitely easier to track people with credit card numbers than with cash.
I'm not so sure that it is a hard-fast rule anymore. When I bought my iPhone a few weeks ago, the Apple Store sales guy asked me how I'd like to pay, I responded, "Well, with my credit card, since you aren't allowed to buy it any other way. Right?"
He said, no, that I could pay cash or debit if I'd like. Now, since I wasn't carrying around $600+ in cash (I got a set of v-moda vibe duos too), I paid with my credit card.
Now, either he was mistaken, or they have relaxed the 'no cash for iPhones' rule a little.
He said, no, that I could pay cash or debit if I'd like. Now, since I wasn't carrying around $600+ in cash (I got a set of v-moda vibe duos too), I paid with my credit card.
Now, either he was mistaken, or they have relaxed the 'no cash for iPhones' rule a little.
Yes. The only exception is for debts. Cash must always be accepted for debt repayment.
According to the US Treasury, it is:
Q: I thought that United States currency was legal tender for all debts. Some businesses or governmental agencies say that they will only accept checks, money orders or credit cards as payment, and others will only accept currency notes in denominations of $20 or smaller. Isn't this illegal?
A: The pertinent portion of law that applies to your question is the Coinage Act of 1965, specifically Section 31 U.S.C. 5103, entitled "Legal tender," which 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 United States money as identified above are a valid and legal offer of payment for debts when tendered to a creditor. There is, however, no Federal statute mandating that a private business, a person or an organization must accept currency or coins as for payment for goods and/or services. Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise. For example, a bus line may prohibit payment of fares in pennies or dollar bills. In addition, movie theaters, convenience stores and gas stations may refuse to accept large denomination currency (usually notes above $20) as a matter of policy.
I would also add that it's easier to get a credit card than it is to get a date. Yeah, my, um, friend told me that. Shoot, hover around a big college campus enough and MBNA will pin you to the ground and force you to take one.
I'm going to buy mine in the next few days... I plan on paying half cash, half using credit card... we'll see how it goes.
To avoid that situation, most retailers have a policy that if you return a device that costs more than (insert amount here) that you paid cash for, they'll refund your money by mailing you a check.
I saw a guy buy a new Mac Pro in cash once.
