Should I Stop Accepting Cash at Shows?

[n8vtxn]

Hi! I am thinking of not accepting cash at shows anymore - just credit cards or checks - and I'm wondering if it is a bad idea. The reason is that my bank is in Texas (I'm in Connecticut) and my last show, for instance I ended up with $190 in cash. Since I can't send it thru the mail, I now have the money in my wallet and have to wait until payday to transfer the money from our joint account which means I can't close the show until next week.

I have thought about just opening a bank account where I live, but then I would have to change all my information and, even more importantly, I wouldn't be able to transfer funds back and forth from my PC account to our joint acct.

But would it be poor business to refuse cash?

Leesa

 

[amya]

In my opinion it would be worth the hassle to open an account where you live now. What brand of bank do you use in TX? If you can find the same brand where you live now you may be able to transfer funds online.

As for not accepting cash, I know of quite a few orders I would not have gotten if I did not accept cash. Some people just do not use credit card except for emergencies and may prefer not to give a check to someone they do not personally know.

These are just my opinions, for what they are worth. I hope you are able to figure out a solution.

 

[PampChefNancy1]

Cash issueHere is a possible solution for when you receive cash at a show for payment. Once you've closed the show, take the cash received and purchase a money order for it and name yourself as the payee. That way, you now have a check that you can deposit through the mail. (And you know that it won't bounce, because it's a secure form of payment) Money orders are not that expensive to purchase, and you would be able to write off the expense of them come tax time.

Hope this will helps!

Nancy L. Lindsey
Independent Kitchen Consultant
with The Pampered Chef
#414249

 

[showmehow2]

Money ordersGreat idea Nancy! Plus there are places that will provide money orders for no cost. Ask your local bank. There's also Amscot. I think it's their ads that say they are free.

 

[DebbieJ]

Here's an idea.

If someone wants to pay with cash, perhaps they can ask another guest to cover them and write one big check. Then the cash is given to that person and you get the check.

I get so few cash payments that something like that might work.

 

[rayday]

The money order is a great idea if you want to handle everything yourself. If no bank is around to issue them for free I go to Wal-Mart and they are 43¢ up to $1000. I know my bank in also in TX, USAA so there are no branches ANYWHERE. I first ask my host if she would mind collecting all the cash and I also have the checks made out to her. Then when we close the show I have her write me one check for the entire show. It is easier that way for my in regards to the banking. It also is nice in case a check would bounce, the host is more likely to get the money from a friend than me to get it from a guest I don't know. HTH

 

[n8vtxn]

The money order is a great idea if you want to handle everything yourself. If no bank is around to issue them for free I go to Wal-Mart and they are 43¢ up to $1000. I know my bank in also in TX, USAA so there are no branches ANYWHERE. I first ask my host if she would mind collecting all the cash and I also have the checks made out to her. Then when we close the show I have her write me one check for the entire show. It is easier that way for my in regards to the banking. It also is nice in case a check would bounce, the host is more likely to get the money from a friend than me to get it from a guest I don't know. HTH

My bank is also USAA, so you understand my problem. Has the host ever had a problem with that? It seems like a big thing to ask, but I guess that would be better than refusing cold, hard cash. My husband was complaining about spending money for a money order, but if it is only $.43, then he can just deal with that - I can't wait until payday to close a show, right?

Thanks for all y'all's input!
Leesa

 

[Dawn]

I bank with USAA aswell so I was dealing with the same thing and it sucks..I finally broke down and got a local bank on base and it makes it easier, you just can't transfer funds...but ohwell Its easier for me to just send a cashiers check to USAA from the bank here and its nice the cashiers checks are free too.

 

[its_me_susan]

Hi! I am thinking of not accepting cash at shows anymore - just credit cards or checks - and I'm wondering if it is a bad idea. The reason is that my bank is in Texas (I'm in Connecticut) and my last show, for instance I ended up with $190 in cash. Since I can't send it thru the mail, I now have the money in my wallet and have to wait until payday to transfer the money from our joint account which means I can't close the show until next week.

I have thought about just opening a bank account where I live, but then I would have to change all my information and, even more importantly, I wouldn't be able to transfer funds back and forth from my PC account to our joint acct.

But would it be poor business to refuse cash?

Leesa

I'm in CT - Soveriegn Back (and others) offer free checking. I have a separate account for my PC stuff, separate from my husband and my account. I was told it's easier for tax purposes to keep them separate.

Good luck deciding!

 

[rayday]

I haven't had any problems with asking my hosts. I give them the option and if they hesitate or say no that's when I go get the money order. I know it is a little inconvenient to always have to mail in the money but I too like to be able to transfer money back and forth. I figure in the long run I’m better off since we are only at this station another year, I don’t want to have to re-start all the checking account stuff!