Penalty standard for refusing to accept cash

Refusing to accept cash will face administrative warnings and other penalties. It is illegal to refuse to accept cash. According to relevant laws and regulations, RMB is legal tender, and it is illegal for merchants to refuse banknotes and coins. Refusing to accept cash damages the legal status of RMB, and also causes discrimination against consumers who prefer to use cash, such as the elderly, which damages consumers' choice of payment methods and is not conducive to the formation of a fair competitive market environment. If consumers find that they refuse to accept or take discriminatory measures to exclude cash, they can complain and report through channels, and the People's Bank of China will deal with it in time together with relevant departments.

According to the announcement issued by the People's Bank of China, behaviors such as refusing cash or taking discriminatory measures to exclude cash should be rectified within one month from the date of the announcement. If there is still the behavior of refusing to accept cash at the expiration of one month's rectification, the branch of the People's Bank of China will investigate and deal with it jointly with relevant departments. All public and private debts of People's Republic of China (PRC) and China are paid in RMB, and no unit or individual may refuse to accept it.

Legal basis: Article 2 of the Regulations of People's Republic of China (PRC) Municipality on the Administration of Renminbi.

The term RMB as mentioned in these Regulations refers to the currency issued by the People's Bank of China according to law, including banknotes and coins.

The design, printing, distribution, circulation and recovery of RMB shall abide by these regulations.

essay

The legal tender in People's Republic of China (PRC) is RMB. No unit or individual may refuse to repay all public and private debts in People's Republic of China (PRC) in RMB.