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Can businesses legally refuse cash during the COVID-19 pandemic?

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Article image for Can businesses legally refuse cash during the COVID-19 pandemic?

Plenty of businesses are asking customers to pay by card during the coronavirus pandemic to help stop the spread.

But can they legally refuse cash?

Jon Manning, Chief Economist at MYOB, told 3AW Drive they couldn’t.

“I think there’s a hint to the answer in your question – it is legal tender,” he said.

But how long that remains that case is certainly up for debate.

He said he believed the COVID-19 pandemic would accelerate our move into a completely cashless society.

“I don’t know if it’ll be soon, but it’s certainly going to come a lot quicker than what a lot of people would have expected,” he said.

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