Wisconsin Eyes Cash Protection Law

Wisconsin lawmakers have advanced a bill to prohibit cashless businesses statewide to ensure all citizens are empowered to buy goods and services without restriction.

The bipartisan bill would prevent establishments from refusing cash for any in-person transaction of less than $2,000, with fines of between $200 and $5,000 for transgressions.

Representative Michael Schraa, who co-authored the bill, explained at a public hearing in late November 2023 that he believes payment choice should lie with individuals, and people who lack bank accounts or credit cards are being disenfranchised by businesses that will not take cash. He also believes a ‘cashless society’ would encourage people to incur credit card debts, with many people finding cash an easier way to budget.

Wisconsin would join states including Arizona, Colorado, Massachusetts, Michigan, New York and Mississippi that already have pro-choice payment laws enabling people to use cash at all physical points of sale. Among cities that have similar legislation, Washington D.C. is the latest—with a cashless ban coming into effect as of 1 October 2023—joining other regions such as Philadelphia and San Francisco. Atlanta and Miami-Dade County are progressing their own laws, with Atlanta City Councilmember Antonio Lewis intending to expand the legislation across the state of Georgia.

Data published by the Federal Deposit Insurance Corporation in late 2022 shows around 4.5 percent of U.S. households—approximately 5.9 million people—are unbanked, meaning that no one within them has a checking or savings account at either a bank or a credit union.

Beyond those who are completely excluded by cashless businesses, there are many more who choose cash for privacy. While cashless transactions are tracked—meaning companies have access to full details of when, where and how goods or services were purchased—cash can be used anonymously. It is also usable in the absence of electricity or internet, meaning it is vital for purchasing goods and services in the wake of natural disasters, or when networks fail due to problems at telecoms or cashless payment providers.