←back to thread

662 points JacobHenner | 1 comments | | HN request time: 0.498s | source
Show context
mannyv ◴[] No.40214223[source]
One major effect of this is that weed stores will be able to use banks and payment processors legally once the regulators catch up.
replies(17): >>40214302 #>>40214371 #>>40214681 #>>40214723 #>>40214802 #>>40214840 #>>40215087 #>>40215094 #>>40215242 #>>40215259 #>>40215926 #>>40216092 #>>40216174 #>>40217047 #>>40217090 #>>40218919 #>>40227379 #
andrewxdiamond ◴[] No.40214371[source]
A lot of them have wiggled around this problem by offering “atms” at the cash register. You pay with a debit card, but it’s not a normal transaction, it’s an ATM withdrawal! I don’t understand how the money is vended to the business, but it keeps it out of the store
replies(8): >>40214632 #>>40214642 #>>40214762 #>>40214782 #>>40214788 #>>40214845 #>>40217657 #>>40218370 #
bobthepanda ◴[] No.40214788[source]
there is still a lot of cash on site due to the presence of an ATM though, and in the cash registers. the primary problem is that weed shops are incredibly attractive robbery targets due to being one of the few businesses in 2024 that handle large amounts of cash.
replies(4): >>40214821 #>>40214926 #>>40216043 #>>40217348 #
CydeWeys ◴[] No.40214821[source]
I think the ATM isn't actually dispensing cash. You're doing an ATM transaction for a certain amount of money, but what you're actually getting is weed.

It's not just "You can buy with cash, and we conveniently have an ATM available to get cash if you didn't go to your bank."

replies(2): >>40215762 #>>40216254 #
14u2c ◴[] No.40216254[source]
Nope, it's just a regular ATM operated by a 3rd party company. You get cash from it then give them the cash. The store will also often reimburse for the ATM fee.
replies(1): >>40217774 #
1. CydeWeys ◴[] No.40217774[source]
Nope, see other comments. My interpretation is correct.