Yes, Illinois-based businesses can legally refuse to accept cash payments. Since there is no statewide mandate requiring businesses to accept cash, businesses have the freedom to offer their preferred payment methods to customers and create payment policies that work best for their business. Should an Illinois-based business choose to refuse direct cash payments, it must disclose this directly and enforce it fairly and consistently, so as not to discriminate against protected consumer groups.
Local municipalities within Illinois always have the discretion to pass their own ordinances. Therefore, it’s critical to remain in the know about proposed or pending legislation that focuses on cash acceptance.
Payment-acceptance regulations vary by state and even municipality. The good news is that Ready Credit’s cash-to-card and cashless solutions help businesses stay compliant while accommodating all customers, regardless of their payment preference.