Odd change confuses cashiers

[FigmentSpark]

A few years ago, I was behind an American buying Mickey bars at DHS. It was a hot day, and the cast member gave him a Canadian quarter in change. It was just change and probably no one had looked at it, but this guy did (which was smart, mind you). He looked at it and was ready to make a scene. He started yelling at the cast member, because, he was being ripped off. Yeah, a quarter, but it's his quarter.

Anyway, as luck would have it, I had an American quarter on me and since I'm from Canada, I just offered to buy his quarter off him. He was shocked, but happy that he got back something he could use. Ironically, since I use my credit card for almost everything, I probably still have that same quarter in my change jar, lol.

 

[RedAngie]

I carry a change purse now.

Oh, noes, tvguy. You’ve become a little old lady in your retirement!!

I hope you’re not holding up the line digging for that 12 cents in your change purse.

 

[EACarlson]

Honest question, when do you need or want cash?

Many places will not take cards or will only take them over a certain amount. Splitting a bill, throwing in on gifts for co-workers, tips, when CC readers don't work, gifts for spouse, fuel in places there is a cash discount.
I always try and keep at least $20 on me in cash. But all coins go in the jar at home and get cashed in for my kids to buy stuff on family vacations.

 

[kdonnel]

Until businesses start giving cash "discounts" to make up for the fees they have the pay to accept CCs.

I avoid those businesses.

If the owner/management is so bad at math to not understand that cash costs more to accept than credit/debit, I wonder what other bad decisions they have made that affect product quality or service.

 

[DisneyHardin]

A few years ago, I was behind an American buying Mickey bars at DHS. It was a hot day, and the cast member gave him a Canadian quarter in change. It was just change and probably no one had looked at it, but this guy did (which was smart, mind you). He looked at it and was ready to make a scene. He started yelling at the cast member, because, he was being ripped off. Yeah, a quarter, but it's his quarter.

Yelling at the cast member was totally uncalled for, but the CM should have taken the quarter back and given him an American one in exchange. When you pay with American money, you do expect American money as change. Just as I would think in Canada, when you pay with Canadian money, you would expect Canadian money as change.

 

[EACarlson]

I avoid those businesses.

If the owner/management is so bad at math to not understand that cash costs more to accept than credit/debit, I wonder what other bad decisions they have made that affect product quality or service.

I'll bite, how does it cost more to accept cash than the 3% or so that are charged in CC interchange fees? Depending on the merchant agreement, using that Visa Infinite for that $1.00 candy bar can cost the merchant 13%.

 

[RedAngie]

Yelling at the cast member was totally uncalled for, but the CM should have taken the quarter back and given him an American one in exchange. When you pay with American money, you do expect American money as change. Just as I would think in Canada, when you pay with Canadian money, you would expect Canadian money as change.

Somewhat on topic.

I do remember places in Canada accepting US currency but giving change in Canadian currency. Like a fast food place or tourist souvenir shop.

At the Buffalo Sabres NHL arena, about 10 years ago, I noticed that Canadian currency was accepted and change given in US currency.

Now as to whether the exchange rate was “fair,” I haven’t a clue.

 

[kdonnel]

I'll bite, how does it cost more to accept cash than the 3% or so that are charged in CC interchange fees? Depending on the merchant agreement, using that Visa Infinite for that $1.00 candy bar can cost the merchant 13%.

It has been discussed several times on the forums.

It is generally believed that accepting cash costs from 4.7% to 15.3% of a transaction.

Well above credit which is generally somewhere between 1.5% and 3%

Reasons cash usually costs more to accept than credit

1. Theft and human error. The restaurant industry in particular estimates 4 percent of cash sales is lost to this reason.

2. Transaction speed. It is believed that 41 percent of customers abandon a purchase if the line is too long. This thread has talked about how people hate being behind someone using change.

3. Handling and depositing cash. It takes time (time is money) to prepare cash registers, reconcile cash payments at shift and day end, and to prepare deposits. Often times these tasks are done by a manager or owner. The highest paid employee. Time is money. That employee/owner could instead be doing a task that brings money into the business.

4. Protecting the cash. The more cash based your business, the more likely you will experience external theft through robbery. So you have to spend more on security.

5. Loss of meta data. Ask Google and Facebook if meta data has value. Cash customers remain anonymous. Those reward programs handled by the "cash register" kept on tables like Chilis are there to gather valuable data and tie transactions to specific people. Starbucks does it very well getting people to pay through their app where they can gather that data.

6. Bank fees. Commercial bank accounts typically change for deposits.

7. Armored car fees. Accept lots of cash? You need to stock lots of change. That probably means armored car visits or like discussed before time by the manager/owner to visit the bank. Time they could be doing tasks to make money instead of costing money.

etc, etc, etc.

 

[RedAngie]

About 33% of the transactions at my company are cash, and handling cash indeed costs more than electronic payments.

That said, we’re not ever going to go cashless. It’s been discussed in meetings many times. Too many customers either prefer to use cash or do not have access to other forms of payment.

 

[TippyThomas]

I'd imagine the internal theft issues with handling cash are pretty high on the list of costs.

 

[C&Jx2]

I worked for my father’s business growing up. He wouldn’t show me how to use the “change” button so that I’d have to do all the math in my head, including when people gave me extra change or money in order to receive certain change back. I was also expected to count change back to double check if I was correct.

Fast forward to me taking my first retail job outside of the family… I actually had to start ignoring the change total because it would confuse me when count back change (Which no one does anymore, but I like to).

 

[ford family]

One problem with the US is that you don't know the final cost of something until you get to the till because of sales tax.

Almost everywhere else in the world has the sales tax already in the price so it is easier to calculate the final cost of your items and work out whatever change you might use before you are served.

We usually pay cash for anything under 10 pounds and use a credit card for the rest.

However, if we are travelling abroad we tend to use cash far more unless it is an obviously respectable business.

ford family

 

[prairie_girl]

This post is from 2003. Pretty sure she’s done with all her change by now. And as a former cashier, don’t do this. And don’t talk down to people either.

Let’s not paint with a broad brush. I was a cashier way back in the day.

There is so much underlying snobbery in this thread. And some not so much underlying.

 

[Karin1984]

However, if we are travelling abroad we tend to use cash far more unless it is an obviously respectable business.

I used to do that, but now, I've switched to card only for abroad. Unless it's a mainly cash country.
Only thing I bring cash for is tips for US trips and some small bills for emergencies.

Charging extra for paying by card has been abolished here in NL a long time ago.
(This is for practically all debit cards and Mastercard & Visa credit cards. We are not a cc country, so Amex users usually have a problem ;-) )

Our banks are discouraging the use of cash even more. The costs for taking cash from an atm or depositing cash are getting higher here.

 

[sam_gordon]

I carry a change purse now.

Does it look like this?

 

[tvguy]

Does it look like this?

Nope. Zip lock sandwich bag

 

[tvguy]

Oh, noes, tvguy. You’ve become a little old lady in your retirement!!

I hope you’re not holding up the line digging for that 12 cents in your change purse.

I generally shop at 7 am so no lines.

 

[FigmentSpark]

Yelling at the cast member was totally uncalled for, but the CM should have taken the quarter back and given him an American one in exchange. When you pay with American money, you do expect American money as change. Just as I would think in Canada, when you pay with Canadian money, you would expect Canadian money as change.

I agree totally. The poor CM was so shocked he didn’t know what to do. He just stood there and took the yelling, looking very uncomfortable.

Canadian quarters are the same size as American quarters and so its easy to pull out the wrong one if your coins aren’t separated and it’s easy for a cashier to miss it in a bevy of coins. Technically, coins are only legal tender in their country of origin, but in border towns, the coins do get mixed fro time to time.