DENVER (KDVR) — Sometimes it seems like the digital age has completely taken over and that the $20 bill in your wallet is all but useless at the checkout line.
Well, in Colorado, you don’t have to worry about that, at least in most situations. This is because businesses across the state are not allowed to refuse cash as payment.
This wasn’t always the case. In 2021, Colorado passed a law that required retail businesses to accept cash or face a fine.
Specifically, if a business breaks the law, it can be punished by a fine of up to $250 per offense.
As with most laws, there are a few exceptions to keep in mind.
For one, it only applies to businesses that have someone who accepts payment in person. So, if it’s all through a machine and there are no people that can accept payment, they can refuse cash.
Also, if a business has a device to transfer cash into a prepaid card, it can also refuse to accept cash. However, the device can’t charge a fee, can’t require a minimum deposit of more than $1, and the card can’t expire.
There are also a few other exceptions for what kind of businesses don’t have to accept cash, including banks and credit unions.