Do You Still Need to Carry Cash?

If you’re confused by the sudden shift to digital payments, you have a lot of company. Even workers who habitually carry a wad of twenties in their pocket everywhere they go are finding it harder to use their hard-earned dollars to make purchases. The challenge is that there are many factors in the equation of who will still accept their cold, hard cash.

You may find yourself wondering:

1. Is cash accepted at a specific location?
2. Are credit cards preferred?
3. Would a debit card be better?
4. How trustworthy is the vendor with personal information?
5. What payment method is more convenient for the shopper?
6. Does it matter how much money you plan to spend?

There are a few things to consider if you’re wondering whether you still need to carry cash – or whether it is no longer useful at all.

Not All Businesses in Small Towns and Cities Like Chicago Still Take Cash

No matter where you are, payment methods are typically still up to the business in question. Most retail stores are largely cash-free. That’s one reason having a prepaid debit card can be a smart option for shoppers who are trying not to rack up credit card debt.

With smaller stores and business, it’s more of a mix. The pandemic led to many opting out of cash. They are expected to post signs saying what their methods are to avoid confusion. Nevertheless, if you plan to eat at a restaurant and only carry cash, ask beforehand to avoid the discomfort of not being able to pay for your meal!

Where Don’t You Need Cash in Illinois Anymore?

The answer to the question of where cash is unnecessary can be frustrating, since it depends entirely on the individual example. There are a few places that have made it easier to pay electronically, however. These instances are typically more convenient for everyone involved, but they can be frustrating for someone unaccustomed to paying digitally.

Examples where cash is no longer the norm include:

Public Transportation. Both are accepted but digital methods like Ventra are easier.

Parking Meters. This varies town to town, but cities are more likely to use parking meters that accept credit cards – or can be used through an app on your phone.

Utilities like Electronic Bill Payment. Most bills are now paid digitally. Electronic bill payment is offered through CCEA Currency Exchanges

Taxes. More people are paying online digitally, although checks are still accepted.

Smaller Outdoor Vendors Still Usually Take Cash in the U.S. and Foreign Countries

Fortunately, there are still some places that are sympathetic to old-school money habits. When it comes to yummy street vendors on vacation as well as street fests throughout the summer, credit might be accepted but cash is still the norm.

Is a Money Order or Money Transfer Better Than Sending Cash?

Sometimes when dealing with a large amount of money for a specific purpose, a money order is still the best solution. You don’t need a bank account and can usually enter a Currency Exchange anywhere with the proper documents and leave with the money order in your hand.

Sending money to someone far away is another story. There are few ways to send cash to anyone anywhere that minimize the risks attached. If you owe money to someone out of state or out of the country, a money transfer might be the safest way to get them their funds.

There is a fee, but both options provide a digital footprint so that the money is safe and there’s no risk of theft or cyber crime. Contact a Currency Exchange near you for more details.

Can You Tip in Cash if the Business Doesn’t Accept Cash Payments?

Even places that don’t accept cash payments may allow cash tips. It’s one of the ironies of the food service industry. They are highly digitalized, but tipping has always had a casual element to it since it originated as a gesture of gratitude rather than the actual payment. Therefore, it is commonplace to pay with plastic but leave a tip in cash.

However, there has been a strong trend toward paying with chips and smartphones through Apple Pay and other methods. Whether and how we tip is changing, but cash tips haven’t gone away yet.

Stop by Your Local Currency Exchange Before Hitting the Road

At the end of the day, it doesn’t hurt to keep a little cash on hand just in case. Any local Community Currency Exchange (CCEAs) can help get you cash and take care of other financial needs so you’re ready to spend or save no matter where you are:

• Pay bills electronically
• Get a prepaid debit card
• Cash your last check
• Get foreign currency
• Order a money order or wire transfer

Stop by your nearest Currency Exchange location and get help with your cash needs today!