What's the difference between "en efectivo" and "al contado"?

Question

What is the difference between "al contado" and "en efective"? Both of them mean in cash but I have them on the same vocabulary list so there must be some difference in the way they are used right?

Answer 1

al contado.

A. Con dinero contante.

B. Con pago inmediato en moneda efectiva o su equivalente (cheque, tarjeta de crédito o de débito, etcétera). Ejemplo:

"Si paga al contado, le descontamos el 10 por ciento."

en efectivo.

A. Con monedas o billetes. Ejemplo:

"Lo siento, señor, no aceptamos tarjetas de crédito ni cheques, solo pagos en efectivo."

Answer 2

My text book says they both mean in cash.

yep pague en efectivo (I paid in cash) - readytodictate, Feb 20, 2012

Answer 3

''en efectivo'' is ''effectively, actually'', and ''al contado'', is ''finally'', ..