SOUTH CAROLINA — As more customers rely on digital wallets and credit cards, some South Carolina businesses have started to go entirely cashless. But can they legally refuse cash payments?
According to current federal and state laws, the answer is yes — with a few caveats.
Federal Law: Cash Is Legal Tender, But Not Mandated
While U.S. coins and paper currency are recognized as legal tender for all debts and taxes, the federal government does not require private businesses to accept cash. The Federal Reserve confirms that business owners may set their own payment policies unless local or state laws dictate otherwise.
“Private businesses are free to develop their own policies on whether to accept cash,” the Federal Reserve states…