In general, no — businesses in Colorado cannot refuse cash. A 2021 Colorado law (HB21-1048) mandates that retail establishments, in-person food service, and retail stores must accept U.S. currency, with fines up to $250 per violation.
However, specific exceptions exist. Here’s what Colorado businesses and consumers should know.
Key Details on Colorado’s “Must Accept Cash” Law
- Requirements: Physical retailers, restaurants, and stores that take payment in person must accept cash under HB21-1048.
- Exceptions:
- Cash-to-Card Machines: Businesses can be cashless if they have an on-site machine that converts cash into a prepaid card without fees.
- Remote/Unmanned: The law does not apply to businesses with no on-site personnel accepting payments.
- Large Bills: Retailers are not required to accept bills larger than $20 (some may refuse $50 or $100).
- Security Deposits: Card-only holds for security deposits — such as at hotels or rental car companies — are generally allowed.
- Penalties: Businesses violating this law face a civil penalty of up to $250 per violation, though enforcement has been sparse.
While federal law does not require private businesses to accept cash, states like Colorado have enacted local laws to ensure customers without bank accounts are not excluded from commerce.
Colorado law requires most businesses to accept cash — but there's a built-in exemption for businesses that provide an on-site cash conversion option. Ready Credit's Cash-to-Card® Kiosks qualify under this exemption, enabling businesses to operate digitally while remaining fully compliant with Colorado's cash acceptance law.