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Ed Pawlowski Ed Pawlowski is offline
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Default No cash accepted

On 7/17/2017 12:17 PM, Mark Lloyd wrote:
On 07/16/2017 11:29 AM, Ralph Mowery wrote:

[snip]

I know of some small bussiness that only take cash. No checks or credit
cards. Mainly restraints. Some of them do have a bank cash machine in
them where you can put in your card and get cash back.


That happened when I needed a money order, and the store would only take
cash. It seemed strange that they had no objection to my getting cash
from the ATM five feet from the counter (that is, I actually used a
debit card).


Makes sense. Let's say you buy a $100 money order. They charge you $2
for it. You pay with a debit card and they pay a transaction fee of 2
1/2% or $2.50. Not a very good business model. Plus you could reverse
the transaction on your card, etc.

So, you go to the in-store ATM and pay $3 service charge. The store
gets a part of that so now they made $3 from you instead of losing 50
cents.