COLUMBUS, OH – A new bill has been introduced in the Ohio Senate with the goal of requiring all retail businesses to accept cash payments for in-person transactions. The proposed legislation aims to prevent businesses from adopting cashless-only policies, which could disproportionately affect vulnerable groups, such as low-income individuals, seniors, and those without bank accounts.

This move comes in response to growing concerns about the shift toward a cashless society. As more businesses move away from accepting physical currency, certain populations may face barriers in accessing essential services and goods. According to the Federal Deposit Insurance Corporation (FDIC), 4.2% of Ohio households were unbanked in 2023, meaning they lacked access to traditional banking services.

Current Situation: No Federal Requirement to Accept Cash

Currently, federal law does not mandate that businesses must accept cash. As such, many companies can legally refuse cash payments unless local or state laws require otherwise. With this new bill, Ohio businesses would be prohibited from rejecting physical currency for in-person retail transactions. However, the bill does not extend to online, over-the-phone, or mail transactions.

Enforcement and Legal Penalties for Non-Compliance

If the bill is passed, businesses that refuse to accept cash could face significant legal consequences. The bill grants the Ohio Attorney General the authority to take legal action against non-compliant businesses under the Consumer Sales Practices Act. Fines for non-compliance could range from $5,000 to $25,000. Additionally, customers who are affected by the refusal of cash payments could file lawsuits seeking reimbursement for their transaction amounts, as well as damages of up to $5,000.

Exceptions to the Cash Requirement

While the bill mandates that most businesses accept cash payments, there are certain exemptions. These include:

• Airport vendors in terminals that have at least two other food establishments accepting cash.
• City-owned parking facilities and businesses that only accept mobile payments.
• Rental car companies that accept cashier’s checks or certified checks.
• Large venues with seating capacities of 10,000 or more.
• Businesses that offer cash-to-prepaid card conversion kiosks, as long as there is no conversion fee.

Bipartisan Support and Next Steps

The bill has garnered bipartisan support from both Republicans and Democrats in the Ohio Senate. Co-sponsors include Bill Blessing (R), Catherine Ingram (D), Brian Chavez (R), Hearcel Craig (D), Alessandro Cutrona (R), Kent Smith (D), and Shane Wilkin (R). As of January 29, 2025, the bill has been referred to the Small Business and Economic Opportunity Committee for further review.

Supporters of the bill argue that it is necessary for consumer protection, ensuring that Ohioans—especially those who rely on cash—are not excluded from retail transactions. The bill’s future now hinges on committee deliberations before it can move forward for a full Senate vote.

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