What Texas law says about businesses refusing cash as payment
Over the past decade, and especially post-pandemic, many Americans are going cashless.
Around 41 percent of Americans said none of their purchases in a typical week are paid for with cash, according to a 2022 study from the Pew Research Center. The study also noted that Americans with lower incomes are more reliant on cash than those who are more wealthy.
While cash-only businesses are common, there are also those who operate as cashless and only accept debit or credit cards.
If cash is considered “legal tender,” does that mean it’s illegal for Texas businesses to operate as cashless? Here’s what to know.
Can Texas businesses go cashless?
Yes, Texas business are allowed to operate as cashless.
There is no federal law mandating a person, business or organization must accept cash or coin as payment, according to the Federal Reserve. Instead, businesses are allowed to develop their own policies on what form of currency to accept, whether that be cash or card.
Furthermore, there is no state law that says Texas businesses must accept cash as payment.
