Senator John Fetterman may be a Democrat, but on the issue of banning cashless-only businesses, he’s absolutely right — and every small business owner, working-class American, and commonsense thinker should take note.
As a financial planner and entrepreneur, I’ve seen firsthand how the push toward a cashless society doesn’t just inconvenience people — it actively harms them. It widens the economic divide, excludes millions from everyday transactions, and puts Main Street businesses at a serious disadvantage.
Fetterman’s message is simple: “It’s legal tender. If you accept money, you have to accept all money.” That’s not just a populist slogan — it’s a defense of the basic right of Americans to use the money they’ve earned.
Cashless Policies Leave Millions Behind
The numbers tell the story:
- 5.9 million U.S. households have no bank account at all.
- Another 18.7 million are underbanked, relying on check-cashing services, money orders, and prepaid cards.
- 13% of Americans use cash for most or all of their purchases.
- Nearly 40% can’t cover a $400 emergency.
So when a business refuses to accept cash, it’s effectively telling millions of Americans — especially seniors, low-income earners, and minorities — that their money isn’t good enough.
As Fetterman put it: “We can’t let stores discriminate against people just because they don’t have a credit card or a smartphone.”
Cashless = Classless
The move to go fully digital is being driven by corporate and tech elites who assume everyone has internet access, a smartphone, and a bank account. That might work in Silicon Valley — but this is still America, where you should be able to buy a sandwich or fill a prescription with a few dollars in your wallet.
Let’s not forget the growing frustration with digital tipping systems that prompt you for 25–30% — with an employee watching over your shoulder. Not everyone wants their purchases tracked, their habits logged, or their privacy sold.
For millions, cash isn’t a preference — it’s a necessity.
Why Cashless Hurts Small Businesses
As someone who works daily with business owners — and who once ran a concrete driveway company — I can tell you: ditching cash isn’t just bad for people. It’s bad for business:
- Swipe Fees Hurt Profits: Every credit/debit card transaction costs 1.5% to 3.5%. For small businesses with thin margins, that adds up fast.
- Fewer Impulse Buys: People are more cautious with cash, which reduces overreliance on credit and fosters responsible spending.
- Tech Failures Kill Sales: During outages or disasters — like the 2021 Texas winter storm — only cash-accepting businesses could operate.
- Losing Customers: Older Americans and working-class families still rely on cash. Turning them away is simply bad business.
Digital Transactions Mean Less Privacy, More Surveillance
Every digital purchase creates a data trail: where you went, what you bought, and when you bought it. That information is tracked, stored, and monetized by banks and Big Tech. Your habits become their product.
Cash, on the other hand, keeps your privacy intact. No statements, no tracking, no algorithms.
The more we move away from cash, the more control we hand to institutions that charge fees, track behavior, and restrict access.
A Federal Fix: Let’s Ban Cashless-Only Retail
Several major cities — including New York, San Francisco, and Philadelphia — have already banned cashless-only retail. It’s time for a nationwide policy.
Fetterman’s proposed legislation would:
- Require all brick-and-mortar stores to accept U.S. currency.
- Penalize businesses that refuse cash.
- Provide exceptions for online-only stores and secure federal facilities.
This isn’t anti-innovation. It’s pro-inclusion. “Legal tender” should mean just that — legal for everyone, everywhere.
The Bottom Line: Cash Is Economic Liberty
Once we lose the right to use cash, we surrender a key piece of our personal and financial freedom. We become more dependent on banks, apps, and tech platforms — and more vulnerable to surveillance, outages, and exclusion.
Fetterman said it best: “We’re going to keep pushing until every American – regardless of income – can walk into a store and buy what they need with a few bucks in their pocket.”
He’s exactly right. And if we care about fairness, dignity, and economic freedom, we should stand with him.
Because cash isn’t just money — it’s liberty. And it’s worth defending.
