Posted on 03/30/2016 4:05:07 AM PDT by Chickensoup
Went to a bank to break a 50 I had brought along for tolls, and was told that I could not do that unless I had an account.
An American bank was not accepting American money! What the hell is going on?
A Fifty is worth a little less than a twenty was worth in the 80's. Not much.
Went to a pet store to purchase pet food, had to register to use a fifty.
More of a move to get rid of money?
Anyone else?
An American bank was not accepting American money! What the hell is going on?
A Fifty is worth a little less than a twenty was worth in the 80's. Not much.
Went to a pet store to purchase pet food, had to register to use a fifty.
More of a move to get rid of money?
Anyone else?
I read somewhere that the $20 was the largest denomination merchants would allow in ordinary transactions. Seems to be true. I got stuck in line behind a lady who was trying to purchase some dollar items with a $100. The cashier called the front manager who called the store manager who got on the phone with someone, I don’t know if it was a bank or the district manager or whoever, because they closed the line and I had to get in another one. Made me very angry (for a bit). Maybe that rule is true for banks as well.
I’m not taking anything bigger than a $20 any more when I withdraw cash. I don’t know where this is going, but I do not want to get stuck holding cash with no value.
Our local DMV charges an extra $5 if you go to their facility rather than registering on-line. As well, a local retailer will only take a credit or debit card. Cash and checks are being phased out by our ‘new’ masters whether we like it or not.
Your local drug dealer will take it!
Yep, there is indeed a movement in developed countries to become cashless. It’s well underway in the EU. Started with negative interest rates. Then, being this significantly reduces motivation to utilize banks the counter to that was elimination of large denomination bills. Makes cash hoarding more troublesome if one has only small bills available. If the Fed and large US banks get their way it will happen here too. Motivation? Increased ability to monitor you in a cashless society - meaning ability to control you. Gotta live our government. Always looking out for us, lol !
Most banks won’t just make change for non-customers. It’s been that way in most banks I’ve dealt with since the ‘90s. It’s like stores that don’t want you using there ice or restrooms unless you are a customer. Some banks won’t use their coin cropper for you even if you ARE a customer, except during certain hours. That was in the ‘90s for me.
Not about getting rid of cash, about banks cutting bank on non-profitable activities.
Although I don’t know why a bank wont take a $50, as a retailer, we aren’t supposed to make change where the differential is going to be more than $20 to prevent robberies.
I’ve gone to my bank to withdraw would I considered fairly small amounts of cash (2-$5,000) only to be told I needed to let them know in advance so they could ensure they had sufficient cash on hand. I explained to them that calling in advance was a horrible idea from a risk management perspective, and don’t people cash checks at the bank anymore? They eventually gave me the cash, but not without a lot of complaining.
Oh it’s worse then that. In a cashless society if they decide on a new “ tax” or “bail in” you have no way to avoid it.....
I don’t have troubles breaking 100’s. Grocery store, Hardware store, gas stations. Even for as little as a purchase of a pack of cigarettes.
I don’t carry 50’s. 50’s become 5’s when your not paying attention.
When society goes cashless the unintended consequences are going to bite pretty deep on tax revenue and law enforcement.
Florida charges more for registering online as a “convenience fee.”
Well, banks don’t do anything for you anymore unless you’re a customer. As for merchants, I suspect they may be having problems with counterfeit currency.
Deposit the 50
Then draw out 50
Bank of the West can deliver 10s and 20s
If not...go by something you need at a supermarket self service check out
You get change in 20s, 10s, 5s, singles and coins
If there is a casino nearby, drop it into a slot machine and do one spin. Then print out the ticket and put it in the cash machine to get your change. Who knows, you might get lucky on that spin and come away with a little more.
Been a practice of many banks to require an account for most any transaction for years now so we try to plan ahead. Most small stores won't take anything larger than a 20 so I guess a Walmart might be a possible place to make a small purchase to get change if it happens again.
Our mortgage holder bank send us a check from their bank (letterhead and all) for excess funds in our escrow account. The mortgage account is the only account we have with this banking firm.
We took the check to cash at their local bank branch. They refused to cash their own check unless we had a checking or savings account. They acknowledged (1) we had our mortgage with them, (2) it was a valid check issued by them, (3) our IDs said we were the same as those listed on the check but still would not honor their own check unless we opened an account.
We cashed the check at the banking firm that has had our checking account for 20 years.
I was at my bank last week, took $60 out of the ATM and then went inside to exchange one of the $20’s for two rolls of quarters needed for the laundry machines at my apartment building. I had to show them my bank card to prove I had an account there as they won’t do it otherwise. They’ve been doing this for quite some time.
BINGO! Debited from your account automatically... no fuss whatsoever.
Here in the old SW I use 50s all the time. Not to long ago it took a 50 to fill up the tank on the Escape and that’s a little tank.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.