CORP/BIZ Meijer Stops Accepting Cash at Self-Checkouts As Nationwide Coin Shortage Erupts

Sicario

Sicario

The Executor
We recently penned a piece on a developing nationwide coin shortage sparked by the virus pandemic. As a result of the shortage, at least one major supermarket chain has removed the ability to pay in cash at self-scan checkout machines.
Meijer Inc., a supermarket chain based in the Midwest, with corporate headquarters in Walker, Michigan, announced last Friday, that self-scan checkout machines at 250 supercenters would only accept credit or debit cards, SNAP and EBT cards, and gift cards.

https://twitter.com/i/web/status/1277780375603949574
View: https://twitter.com/SilviaMansoor/status/1277780375603949574


"While we understand this effort may be frustrating to some customers," spokesman Frank Guglielmi told ABC12 News Team. "It's necessary to manage the impact of the coin shortage on our stores."
Fed Chair Powell admitted to lawmakers last week that The Fed has been rationing coins as the circulation of coins across the US economy ground to a halt due to the pandemic.
"What's happened is that with the partial closure of the economy, the flow of coins through the economy ... it's kind of stopped," Powell told lawmakers.
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He said the shortage was due to the mass business closures that prevented people from spending their coins, as well as a lack of places that are open where people can trade coins for paper bills.
"We've been aware of it, we're working with the Mint to increase supply, we're working with the reserve banks to get the supply to where it needs to be," Powell said, adding he expected the problem to be temporary.
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Americans Googling "coin shortage" started to erupt in the back half of June and has since hit a record high. Mainly people in Midwest states are searching for the search term.

LINK - Meijer Stops Accepting Cash As Nationwide Coin Shortage Erupts
 
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Sicario

Sicario

The Executor
FROM THE FED:

Is it legal for a business in the United States to refuse cash as a form of payment?
Section 31 U.S.C. 5103, entitled "Legal tender," states: "United States coins and currency [including Federal reserve notes and circulating notes of Federal reserve banks and national banks] are legal tender for all debts, public charges, taxes, and dues."
This statute means that all United States money as identified above is a valid and legal offer of payment for debts when tendered to a creditor. There is, however, no Federal statute mandating that a private business, a person, or an organization must accept currency or coins as payment for goods or services. Private businesses are free to develop their own policies on whether to accept cash unless there is a state law which says otherwise.
 
20Gauge

20Gauge

TB Fanatic
They didn't stop accepting cash, just cash at their automated machines. I can understand that. The machines can be a pain to maintain. Eliminating cash from them, makes them easier to maintain and improves efficiency overall.

I would consider this a labor reduction and a good move on their part.

Cash, use a cashier.
 
20Gauge

20Gauge

TB Fanatic
Sicario said:
FROM THE FED:

Is it legal for a business in the United States to refuse cash as a form of payment?
Section 31 U.S.C. 5103, entitled "Legal tender," states: "United States coins and currency [including Federal reserve notes and circulating notes of Federal reserve banks and national banks] are legal tender for all debts, public charges, taxes, and dues."
This statute means that all United States money as identified above is a valid and legal offer of payment for debts when tendered to a creditor. There is, however, no Federal statute mandating that a private business, a person, or an organization must accept currency or coins as payment for goods or services. Private businesses are free to develop their own policies on whether to accept cash unless there is a state law which says otherwise.
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Good to know.
 
Signwatcher

Signwatcher

Has No Life - Lives on TB
I was in Meijer's yesterday getting DH a medical item and used the automated check out because they were busy as always. Used my plastic like I do most of the time. Only place I use to get rid of my coin is another local grocery store. Mom left me over $40 in nickels and I'm still working on getting rid of them.
 
packyderms_wife

packyderms_wife

Neither here nor there.
20Gauge said:
They didn't stop accepting cash, just cash at their automated machines. I can understand that. The machines can be a pain to maintain. Eliminating cash from them, makes them easier to maintain and improves efficiency overall.

I would consider this a labor reduction and a good move on their part.

Cash, use a cashier.
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The automated machines at the Sams club here never accepted cash, not sure why this is such an issue for some people.
 
P

prudentwatcher

Veteran Member
I was at two different grocery stores today and both had signs posted that if you were paying with cash, you had to have EXACT change. Otherwise you would have to pay with a card. First time I've seen the signs and they were in two different towns and unrelated stores. (North central Florida)
 
TammyinWI

TammyinWI

Talk is cheap
Maybe too many disgruntled taxpayers are hoarding coins to bring in to pay their high property taxes. I don't think that county employees should have it taken out on them, and neither did they. The county board passed it:

Making a change: County to reject payments in coins, tainted bills
Large amounts of coins or soiled currency no longer will be accepted to pay property taxes, court fines or other bills to Eau Claire County under a proposal set for a vote tonight.

www.leadertelegram.com

Making a change: County to reject payments in coins, tainted bills

Large amounts of coins or soiled currency no longer will be accepted to pay property taxes, court fines or other bills to Eau Claire County under a proposal set for
www.leadertelegram.com www.leadertelegram.com
 
Kathy in FL

Kathy in FL

Administrator
_______________
prudentwatcher said:
I was at two different grocery stores today and both had signs posted that if you were paying with cash, you had to have EXACT change. Otherwise you would have to pay with a card. First time I've seen the signs and they were in two different towns and unrelated stores. (North central Florida)
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Thanks for the heads up. I only use CC's for business expenses and fuel, cash for everything else. I always have both with me but I am going to laugh my butt off at those stores if they get hit with the CC system going down which could very well happen.
 
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