$100 bills, do you see them often, do you use them?

[RangerPooh]

Locally during Girl Scout cookie season we see people here try to pay for a $4 with a $100 bill. Nope, not going to accept it. There are too many bills in the $20, $50, and $100 denominations that are fake. I'm not taking that hit!

I rarely use a bill that large. Occasionally I'll get a bill that large from the bank if I need to pay something at the kids schools if they are accepting cash only: yearbooks, computer fees, etc when it's times 2 (two kids at each school). Or if I need to pay for my kids own cookie or popcorn money for scouts (directly to troop person responsible not at a booth). It's easier than writing a check and having to wait for it to be cashed, as that could be a couple weeks.

 

[Cindy's Mom]

I always have a hundred tucked away in my wallet. My ATM (BofA) asks me how I want my money, 10's 20's or 100's. Our house stash is in 100's too. We live in a neighborhood where many of the mom and pop places don't have a card - we do need and use cash.

 

[Disneylover99]

I see them. I like them. I use them.

 

[iivye]

I never carry anything larger than a $20. My husband surprised me this weekend by pulling a $100 bill out of his wallet at a softball tournament. I was more surprised the snack bar took it.

 

[kdonnel]

Locally during Girl Scout cookie season we see people here try to pay for a $4 with a $100 bill. Nope, not going to accept it. There are too many bills in the $20, $50, and $100 denominations that are fake. I'm not taking that hit!

I rarely use a bill that large. Occasionally I'll get a bill that large from the bank if I need to pay something at the kids schools if they are accepting cash only: yearbooks, computer fees, etc when it's times 2 (two kids at each school). Or if I need to pay for my kids own cookie or popcorn money for scouts (directly to troop person responsible not at a booth). It's easier than writing a check and having to wait for it to be cashed, as that could be a couple weeks.

Counterfeit currency is one of those fears we really don't need to have but it is hard to not fear because no one likes losing out on money.

It is estimated that .01% of US currency in circulation is counterfeit. In the US you are most likely to come across a counterfeit $20 as the majority of counterfeit $100 are produced and exchanged outside the US.

 

[eileenjez]

Around here they have had problems with counterfeit money. Most of it is marked "For use in movie industry only". This is clearly marked on the back of the bill. Personally I use both $50's and $100's when I have them.I agree I always give it a second thought before I will break one for a small amount.

 

[RangerPooh]

Counterfeit currency is one of those fears we really don't need to have but it is hard to not fear because no one likes losing out on money.

It is estimated that .01% of US currency in circulation is counterfeit. In the US you are most likely to come across a counterfeit $20 as the majority of counterfeit $100 are produced and exchanged outside the US.

I can tell you that every cookie season the local news runs reports of multiple troops having been passed fake $20s and $100s. The local troop leader/cookie manager fb groups will have multiple posts over a four week period of who got hit with the fake money and what part of town it was. The currency pens don't always catch it, and not every adult looks for water marks. A friend of mine, her troops has been hit with fake $20, $50, and $100 bills each year, and they use the pen and check for water marks. But they still slip through. For this reason my troop doesn't accept bills over $20 (fingers crossed there) and sticks to credit cards (again, fingers crossed).

It really is sad that we have to look for this. When we lived in a rural area in the PNW this was a non issue. Here in a larger metro area in the mid-south we have to be on the look out. We also have to be aware of people trying to steal our cash boxes, and yes it did happen to a troop either last year or this past cookie season.

 

[ZellyB]

We have used them frequently in the past when working through budgeting plans which suggest using cash. There are some notable budget gurus who recommend cash allowances for things. You create your budget and withdraw money and it is separated into various envelopes and use that cash exclusively for those purchases. It gives you an easy visual on how much you have as you progress through a given period and once spent, you go without. In theory, people should be able to budget that way regardless, but for the time we did it, it amazed me how much money we spent that we didn't even recognize where it was going. Something about seeing my cash allowance dwindle in my wallet did far more to curb frivolous spending then just using the debit card. We didn't drastically reduce our spending using cash this way, but we were far better informed about just where the money was going and it did cause us to modify some spending habits.

 

[QueenIsabella]

I, too, have a stash of $100's in the house. I don't go out of my way to get or use them, but sometimes they'll come my way in a large cash transaction. I mostly use them at Aldi's, occasionally Walmart, but don't use them all that often. I do like having them--in an emergency, credit cards might not work. And we live in hurricane country. I did give a $100 to our 13yo cat-sitter, because I thought she'd think it was cool.

Our bank is Wells Fargo--some ATM's give just $20's, a couple give $20's and $50's. I prefer $20's--I just find it easier, people don't look at them weird like they do larger bills.

 

[DisLiss]

Never use them. My ATM gives out 50s and 20s, so that's all I ever have. Honestly, I prefer the 20s for most day to day cash use. I like having small bills for my kids, so if I get a bunch of 20s I can keep breaking them to have the ones and fives I most often hand the kids for little things.

Plus, I occasionally run into places that don't want larger bills or that make a production out of it, so the 20s just work best unless I need to have a large amount of cash for some reason, which pretty much never happens.

And I don't work anywhere that requires me to handle money, so I don't see 100s anymore, either.

 

[RedAngie]

I guess I don't understand why people use cash? You get no discount for using it. At least when I pay with credit cards I get 2% refunded of every purchase.

Probably because a fair amount of the US population wouldn't qualify for a credit card. And some won't use debit cards because they don't want a bank account for various, often dishonest, reasons.

 

[FlightlessDuck]

Generally speaking, I don't carry much cash. I don't think I've personally handled a $100 bill in 15 years. Actually, I guess I've been in contact with them a few times volunteering at snack stands for school or for financial work I did at my church.

 

[RedAngie]

I rarely encounter a $100 bill. The last time was probably at a casino several years back.

About 45 years ago my father tried to pay with a $100 bill at Two Guys, a long defunct Walmart type discount store.The cashier said "sorry, sir, we cannot accept any bills larger than a $20." My father goes "Young lady, this bill is legal currency of the United States of America, blah, blah ,blah......" My mother and I pretended we didn't know him and scurried away. I think the manager finally convinced my father to pay with a credit card.

 

[wgeo]

My husband is sometimes paid for side jobs in cash and it's usually 100s, so I take them and stash them in our hurricane emergency stash. And then each fall I take some to the bank to break them down into 5,10 and 20s so that I can have cash on hand for all of the kids "i'm going to the movies with friends" type requests. Every once in awhile usually around Christmas it will get to be too much cash on hand and we'll deposit them. I just don't feel comfortable holding that much cash in my wallet or spending it for small purchases.

 

[Moliphino]

I rarely have more than $40 in my wallet, so no I don't see them often. I use credit or debit for 99% of purchases.

 

[Cindy's Mom]

Probably because a fair amount of the US population wouldn't qualify for a credit card. And some won't use debit cards because they don't want a bank account for various, often dishonest, reasons.

to piggyback on this.....you have to qualify for a debit card at banks, so even if you do get the account, a debit card isn't a for sure thing. The usage fees on some these "non bank" debit cards is obscene, so many just resort to cash.

 

[Cindy's Mom]

I rarely encounter a $100 bill. The last time was probably at a casino several years back.

About 45 years ago my father tried to pay with a $100 bill at Two Guys, a long defunct Walmart type discount store.The cashier said "sorry, sir, we cannot accept any bills larger than a $20." My father goes "Young lady, this bill is legal currency of the United States of America, blah, blah ,blah......" My mother and I pretended we didn't know him and scurried away. I think the manager finally convinced my father to pay with a credit card.

I like your dad's style...

 

[CF'er]

My husband carries and uses them all the time.

 

[soccerdad72]

We only tend to get them when we need to take out a larger amount of cash from the bank to pay a contractor who asks for cash.

We have a couple in the house somewhere, but we pay with credit card for most things, so wouldn't normally carry them with us. I always feel bad handling someone a $100 for a small-ish purchase.

 

[apirateslifeforme]

My MIL gives DH and I each a $100 bill for our birthdays. We stash them away in the house for emergency repairs (like the time we had no heat and discovered that we needed a brand-new furnace) or to use at Costco (since we can never get out of there without spending at least $150).