Yes, for now, Ohio-based businesses and government establishments can refuse to accept cash payments. However, if Ohio legislators pass the pending Currency Access to Spend Here (CASH) Bill (also known as House Bill 554), businesses will be required to accept in-person cash payments for purchases up to $500.
The purpose of this bill is to ensure that unbanked, underbanked, and cash-preferred customers have fair and equal access to purchase goods and services. If passed into law, the CASH Bill would prevent businesses from charging more or assessing a fee for customers who pay with cash. The Bill also includes exemptions for purchases made via telephone, online, or by mail. While also exempting businesses in controlled-access establishments, such as entertainment venues and airports.
If the CASH Bill becomes law, any violations of it would fall under the Consumer Sales Protection Act (CSPA), leading to potential injunctions, lawsuits, and monetary penalties for any violations. For now, Ohioan businesses can choose to refuse cash payments. Still, it’s best to continue monitoring the CASH Bill’s legislative journey and any future legislative proposals to ensure consumer accessibility and ultimately compliance.
In Ohio and beyond, payment regulations can shift quickly. Ready Credit’s inclusive digital payment solutions help businesses remain in compliance and stay flexible by supporting cash-preferred customers.