tjb5099 wrote in post #15454421
Your best bet would be to get a program for the iPhone like Square that way you can accept credit cards
There are legitimate reasons to accept credit cards and pay the exorbitant cost associated with them. But to favor that over cash to guard against counterfeiting is foolish. You'll pay more in fees than you would ever lose to fake money.
I'm a county treasurer. Every year I collect millions of dollars in property tax payments from homeowners. A surprising amount comes in cash, mostly $100 bills. Not a single counterfeit issue in five years.
Regarding the previous comparison to homeowner's insurance: The purpose of insurance is to protect you against catastrophic loss. A single customer payment rarely amounts to a potentially catastrophic loss to a business owner. It is a cost of doing business.
There is mention of banks calling people about fake notes. Do they isolate and put a name on every deposit they receive?
Deposits of small amounts of cash go straight to the drawer. Those containing a significant stack of bills will get counted with a machine that checks for counterfeits in the process.