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?
Cash is the enemy of control. If the banks and the government can force us to exclusively electronic funds they have total financial control in a crisis. By shutting down electronic transactions they can prevent access to your funds.
I understand why certain businesses might not take large bills because of issues making change or issues regarding counterfeit money. It is common for convenience stores to refuse larger bills. To the best of my knowledge banks have no obligation to break large bills for non-customers. That service is an optional courtesy.
I have never had that kind of trouble at a bank (I regularly ask for $50s & $100s), but I’m increasingly seeing merchants with signs saying they won’t take bills over $20.
My impression is that it had more to do with counterfeiting than anything else. Digital technology makes it much easier to counterfeit $$.
It is also very possible that we are being “nudged” toward a cashless society.
“Your local drug dealer will take it!”
Well, where do THEY bank???
It’s worse. Cashless (electronic) transactionsare easy to monitor, aggregate and analyze.
All done under the guise of “patriotism” and CT.
If you aren’t buying the “right” newspaper or car or food, they will let you know...
It is actually an inventory issue. Vault cash is not earning. Also it is a lure for robbers. Line tellers don’t keep more than 10K in their vaults.
Go to a restaurant and use it to pay for your meal after you’ve eaten. They can’t refuse.
Curious as to where you were and what bank it was?
This is one of the reasons I love living in Las Vegas. My wallet has $100 bills for shopping and $5.00 bills for valet parking tips. There’s more I could say, but I’ll spare you, and yes, the country is really messed up.
Banks dishonoring their own checks used to be a violation of federal law. I’ve gotten at least two tellers disciplined for that ... supposedly.
By Federal law a business MUST take the money. It’s written on the money.
south fl bank of america
About 15 years ago, my sister-in-law asked me to go to the Citibank and deposit her paycheck for her, because she had a doctor’s appointment. She even filled out the deposit slip.
Citibank would not allow me to deposit he check, because I didn’t have an account.
After my sister-in-law’s appointment was over, we went back to Citibank and she closed all of her accounts and demanded cash. They were really pissed, because it just about cleaned them out of cash.
Well, where do THEY bank???
Bet that's part of what's going on. You get gangbangers coming in with piles of filthy lucre, they want to break it into smaller bills (or trade it in for larger bills), and the banks get tired of providing an expensive service for non-customer, deadbeat dangerous losers.
So like every other stupid rule in the U.S., a policy is designed to cover the lowest piece of crap denominator, and the rest of us have to live with it.
This doesn’t surprise me, but what bank was it that refused to take your cash?
I say name ‘em and shame ‘em.
Most check cashing places like Amscot will break it for a small fee (~1%). Ridiculous, but that’s what the world is coming to.
Few years ago I gave some friends $200 (2x $100 bills) as a wedding gift. They asked me later if I could break it, because no one would take them. The hotel broke the bills but not after photocopying their IDs. Ridiculous.
I believe it is along the lines of banks not doing anything anymore
A couple of years ago my wife went into a bank to cash a printed check to her drawn from an account in the bank. They said they would with a 10% charge because she did not bank there.
I said no way. This check says pay to her the sum of. Then we can talk about the fee, and we refuse to pay the fee.
Manager knew us so no big deal, but I was outraged. All banks are doing this crap now.
I was just suggesting at Post #33 that banks are probably trying to avoid providing cash services to deadbeat punks all day long....and end up adopting a policy that disserves good people like you.
I am so tired of being treated like a criminal
It will be the end of freedom.
I use $100’s all the time.
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