Hello folks,

 

As you all know, CC fees take a substantial chunk out of what you net when you have lots of small transactions.  Has anyone here had success (or failure) with a cash-only format? Beyond this, for those that do take plastic, how do you set CC policy at your shop: do you suggest or require a minimum amount for a CC transaction? Do you stick to it? Do you have many complaints? and what percentage of your business ends up being cash?

 

There are a few food establishments in my area that are cash-only, and they have trained their customers to work within this practice. I'm speaking from experience--I know that if I go to restaurant X, I need to stop off at the ATM. Not that big of a deal. Is this doable in a shop, given that a customer generally would not go to an ATM and pay a $2 fee in order to get five bucks to buy a couple of coffees? (On the other hand, shops rely on regulars who are in a better position to adjust/prepare.) And what are the potential drawbacks, aside from lost customers: employee theft? crime (burglars and--yikes--robbers)?

 

 

 

 

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Thanks  Jay. I think I was put off by the initial percentage but the extra change per transaction charged by other companies puts the cost of a transaction waaay above 2.75%.

 

Thanks for that :-)

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