Title : Bank of Canada asks Retailers to accept cash
link : Bank of Canada asks Retailers to accept cash
Bank of Canada asks Retailers to accept cash
From earlier today:- Cash is legal tender in Canada
- Cash allows you some privacy in your purchases- Does big brother need to know you like chocolate? Or that you eat *beef*!?
- Cash allows you to keep a better handle on your finances- Cause when the money's gone. It's gone. Credit cards make it too easy to bury yourself in debt. If people used cash and lived within their means, the debt burden they are under would be vastly reduced.
- I still use cash. Save for larger purchases. And encourage others to do so as well.
Bank of Canada
Cash acceptance
We encourage Canadians to use the method of payment that they are the most comfortable with. However, the Bank strongly advocates that retailers continue to accept cash to ensure Canadians have access to the goods and services they need. Refusing cash purchases outright will put an undue burden on those who depend on cash and have limited payment options.
“There are many individuals who, for a variety of reasons, do not have access to credit or debit cards and must pay with coins and bills. We know that SARS-CoV-2 (COVID-19) can stick to surfaces for a few hours to a few days, and this may include hard currency,” said Dr. Isaac Bogoch, an infectious diseases physician and scientist with the Toronto General Hospital Research Institute. “Still, we can find ways to ensure that all Canadians have access to essential goods and services, even if they are using cash. Risk can be mitigated in retail settings using a variety of methods, including ensuring access to hand hygiene for all employees.”
Safe handling
It’s important to keep in mind that the risks posed from handling cash are no greater than those posed by touching other common surfaces like doorknobs, kitchen counters and handrails. Canadians handling cash should follow the public health guidelines on COVID-19 and wash their hands often, as they would do for other activities.
If individuals want to take additional safety precautions, it is also possible to clean polymer bank notes with a bit of soap and water since they are resistant to moisture. Note that this is not the case for older paper notes.
Access to cash
The Bank is working with financial institutions to ensure that there is no disruption to the cash supply during this exceptional time so Canadians can continue to have access to cash when they need it.
Thus Article Bank of Canada asks Retailers to accept cash
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