Is it illegal to refuse RMB cash?

Most consumers will have experienced or heard of businesses that only support online payment and do not accept RMB cash. So, is it illegal to refuse RMB cash? Today, I will give you a detailed explanation.

Is it illegal to refuse RMB cash?

According to Article 3 of the Regulations on the Administration of Renminbi in People's Republic of China (PRC), the legal tender in People's Republic of China (PRC) is Renminbi. No unit or individual may refuse to pay all public or private debts in People's Republic of China (PRC) in RMB.

In other words, no unit or individual may refuse to accept RMB cash, which is the legal tender of People's Republic of China (PRC), and it is illegal to refuse to accept cash.

Which five companies received the ticket from the central bank?

On April 23, the business management department of the central bank announced five tickets. According to the documents issued by the bank management punishment, Beijing Pingrun Xinhe Automobile Service Co., Ltd., Beijing Cheyi Life Automobile Service Chain Co., Ltd., Beijing Li Andong Jinqiao Real Estate Co., Ltd., Beijing Youpinjia Trading Co., Ltd. and Beijing Sunshine Xingmei International Cinema Management Co., Ltd. all refused to accept cash.

According to Article 32, Paragraph 1, Item 3 and Article 46 of the People's Bank of China Law of the People's Republic of China, the business management department of the central bank gave a warning to the above five companies, and the date of making the decision on administrative punishment was1April 6.

Therefore, it is illegal not to accept cash in life. Remember to protect your legitimate rights and interests when you meet a merchant who refuses to accept cash!