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Is Cash No Longer Legal Tender?

Posted by Cliff on from the plastic-now-worth-more-than-paper dept.

An anonymous reader asks: "I attend the University of Illinois at Chicago. Last semester my housing arrangements went smoothly. I put down my application fee, and my deposit just fine, got a room for the semester and life went on. This semester, because there was supposedly a large number of students who did not check into their rooms last semester, we were required to make a $100 prepayment, in addition to the application fee and deposit. No problem, I think, I see the university is trying to make a quick buck off people who don't follow through with their plans. Now I do NOT have a checking account, a credit card, or anything. I don't trust the banks, or the credit card companies, so I am one of the few people who do EVERYTHING in cash. However, they refused to take the cash. Is it legal for a state-owned university, let alone any business to not take legal tender?" The housing department also will not charge my university account (so I can pay the bursar or whoever I need to) in cash, and they want a check or money order. Nowhere in their letter did they say that. I fear out of technicality I am going to loose my housing since I cannot get them their money on time because they do not take cash.

What can I do?"

2 of 719 comments (clear)

  1. I'd avoid cash as well by 91degrees · · Score: 5, Funny

    I mean all a dollar is is a promise of payment from the US teasury - essentially a big bank. Do all your dealing in precious metals.

  2. I work at the IRS by Anonymous Coward · · Score: 5, Funny

    Posting anon, for obvious reasons.

    Back in the day, we had a pissed off taxpayer and his wife bring in several thousand dollars in pennies. At the time, we had real teller functions in most cities and they took their money-handling chores seriously and by-the-book. All cash payments were *required* (no exceptions) to be counted out twice in the presence of the person paying.

    The manager saw the situation, got approval to put a teller on overtime, and started counting. They stressed to the taxpayers that they *must* remain present during the count. This was fairly early in the morning. After a few hours, some things began to change. Everytime the taxpayer needed to go to the bathroom, the count had to stop and everyone left the room. No lunch. No breaks.

    Asshole taxpayer got bored. Then he got tired and cranky. Then he and his wife got into it. A screaming match ensued with the wife berating her husband for his stupid idea. "Yeah, you really showed them, didn't you?!" By that evening, she ripped the car keys out of his hand and left, telling him he could get a cab home. This was in a large, non-compact city with poor public transport and, at the time, only a shell of a taxi system. Telling him to catch a cab home was the equivalent of telling him to burn in hell.

    Around midnight, the count finished. The jerk was shellshocked. He called a cab and proceeded to go stand out by the highway and wait for it. I don't know if it ever came.

    I feel certain, however, that Mr. Idiot never tried another stunt like that.