WINOOSKI, Vt. (WCAX) – An increasing number of Vermont businesses are going cashless, a trend that caught on during the pandemic, but that elicits mixed feelings. Now, some Vt. lawmakers are looking to get into the debate also.
“I think it’s super annoying,” said Melissa Danforth of St. Albans. “I feel like my bank account doesn’t need to know where I’m spending my money.”
“I prefer using my debit card because it’s just is one thing that I need to keep track of and it’s hard for me to keep track of having enough cash at any one time,” said Eliza Weissberger of Winooski.
“If I have cash, I usually count it and then see how much I have and I’m limited by that, so I don’t spend as much,” said Carol Collins of Duxbury.
The pros and cons are there for businesses, too. Cashless transactions can save time, make the job easier for employees, and prevent loss from potential theft.
Four Quarters Brewing in Winooski went cashless during the pandemic and hasn’t looked back. “Being cashless, one of the best things is we don’t have to go to the bank all the time,” said owner Brian Eckert. He acknowledges it can be exclusionary towards some customers. “Some people don’t agree with it but we try to explain.”
A bill introduced in the Legislature would address the cashless questions by prohibiting retail businesses from refusing to accept cash unless the transaction is over $1,000. H.527 remains in committee and is likely not going anywhere this session.
Jared Carter, a professor at the Vermont Law and Graduate School, says private businesses can make whatever payment rules they want. “There are many other laws that would come into play but from purely a constitutional perspective, I don’t think private businesses are going to run into any problem if they refuse to accept cash and say it’s going to have to be a card,” he said.
A Gallup survey shows that 64% of Americans believe all payments will become electronic at some point in their lifetimes.