Martin Lewis, a cash savings expert, warns that stores are within their rights to allow only card payments – and that they are not violating the law by refusing to accept cash.
The question arose on ITV’s Martin Louis Money Show, where one asked: “If money is a legal tender, businesses are violating the rules by accepting cards.”
Martin’s answer is simple, The Glass Reports.
“No, they did not break any rules,” he said.
“You are only allowed to pick up the card unless you show race or disability or any discrimination.”
But it also raised the question of what a legal tender is.
“The legal tender thing is interesting,” Martin said.
“Legal tender has a strict definition.
“If the court has issued a loan against you and someone is trying to settle, it cannot be denied if they are paying in the legal tender.
“That’s what it means.”
He pointed out that in some parts of the country, only legal tender, in fact, coins.
“In Scotland, there are no references – neither Bank of Scotland nor Bank of England is a legal tender.”
But that does not mean they are not legal.
“They are all legal tender,” he added.
As for whether it is time to move on to a cashless society, Martin said one great thing.
“Many ask, ‘Why shouldn’t we move to a cashless society?’ – I don’t like it because there are so many vulnerable people who need money, “he said.
The good news was coming to people who relied on money, but it was hard to catch the closing of bank branches and the removal of ATMs.
“The government has said it will change the rules when we leave the EU in January, so you don’t have to buy anything if you want to get money out of a supermarket,” he said.
“They will also be effective in closing ATMs and bank branches.”