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Topic: Are businesses accepting them?  (Read 3523 times)
mmars
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« on: December 27, 2012, 01:33:27 pm »

For years, we've heard of businesses refusing to accept $100 and even $50 bills.  With the new polymer series having replaced most of the earlier series of high denomination notes, I'm curious to know if anyone has heard of the new notes being rejected by persons or businesses.  Apart from reasons of practicality (i.e., paying for a $1-$2 cup of coffee with $100), what reasons could businesses have for not accepting these new notes?

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alvin5454
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« Reply #1 on: December 27, 2012, 04:40:36 pm »

Is there such a thing as a $1-2 cup of coffee any more?
FogDevil
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« Reply #2 on: December 27, 2012, 06:27:23 pm »

I'd say, if businesses refuse to accept them, it's likely not due to counterfeiting reasons, but more because of armed robberies.  $100 and $50 bills tend to be a target for thieves in many establishments.

The only places that would be willing to accept $100 and $50 bills would be those that have security and surveillance cameras all over the store (Walmart, Sobeys, Dominion, etc.), or private sales, rent and debt payments, and places that sell big-ticket items and not targeted by thieves.
friedsquid
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« Reply #3 on: December 27, 2012, 09:27:04 pm »

Is there such a thing as a $1-2 cup of coffee any more?


Yup :)



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JB-2007
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« Reply #4 on: December 28, 2012, 12:37:21 am »

I have had no problems anywhere using $50's and $100's here in Montreal.
mmars
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« Reply #5 on: December 28, 2012, 01:35:24 am »

I'd say, if businesses refuse to accept them, it's likely not due to counterfeiting reasons, but more because of armed robberies.  $100 and $50 bills tend to be a target for thieves in many establishments.

The only places that would be willing to accept $100 and $50 bills would be those that have security and surveillance cameras all over the store (Walmart, Sobeys, Dominion, etc.), or private sales, rent and debt payments, and places that sell big-ticket items and not targeted by thieves.

I would want to see proof of that before believing it.  I can't imagine thieves basing their decisions on what denominations are available but on how much is available and how easy it is to rob the business.  And whatever denominations people use, the amount of cash on hand is going to be the same whether customers are using $20s, $50s or $100s.  Are there any experienced thieves here to provide us with insight?  ;)

If you can't get a regular coffee for under $2, it means you have expensive tastes or you live in Fort McMurray.

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Squad-G
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« Reply #6 on: December 28, 2012, 09:50:35 pm »

For years, we've heard of businesses refusing to accept $100 and even $50 bills.  With the new polymer series having replaced most of the earlier series of high denomination notes, I'm curious to know if anyone has heard of the new notes being rejected by persons or businesses.  Apart from reasons of practicality (i.e., paying for a $1-$2 cup of coffee with $100), what reasons could businesses have for not accepting these new notes?

Every place before I was going didn't not accept old 50's and 100's... now they do accept polymer 50's and 100's.

The main reason I think is because of counterfeiting.... however the "real" reason is because the cashier doesn't have the profit of all day - he hold maybe 100-200$ so he may not have the cash to give you back your money in 20's (example for Couche-Tard!).

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JB-2007
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« Reply #7 on: December 28, 2012, 11:13:43 pm »

In Montreal, i have heard that some couche-Tard stores would not take $50's/$100's because of counterfeits. They would not take any chances. Even the fact that you would fill up with $50 gas and they wouldn't take a $50 bill. But that was before.  Im sure with the polymers now they might accept them.
Marc
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« Reply #8 on: December 29, 2012, 11:25:28 pm »

I've used all three polymers here in Mtl. with no issues.  I don't shop at Couche-Tard, mind you, but I used a 2011 $100 for an $80-odd grocery run at IGA, and used $50's at IKEA.  Those were in the last month.

I do recall some small independant stores refusing all $50 and $100 bills.  One in particular (forget which store) that stood out was that they actually said on their sign they wouldn't accept even the "new plastic bills" as they put it.

Marc :)
CA_Banknotes
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« Reply #9 on: December 30, 2012, 12:00:37 am »

I have seen gas stations with signs that say no $50s or $100s for security reasons. I have seen signs elsewhere refusing non-polymer notes. I'd also understand some smaller shops not wanting to take them for small purchases if they don't have enough change, but I'd find it pretty outrageous and asinine if they didn't take them for purchases greater than the bill's value.

I've never actually used $50s or $100s in a store in the last year or so, everything goes on plastic for me. Only when I do cash deals person to person do I ever use these bills (aside from my bill searching.)

On another note, I saw someone at the fishmonger today use a Birds $100. Cashier took it without much hassle (I had my wallet ready to swap the note for the elderly couple)
walktothewater
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« Reply #10 on: December 30, 2012, 10:13:12 am »

I believe there will always be the odd business who will bar the use of higher denominations due to contextual reasons.  Some of these may be gas stations or fast food places where managers have a high turn-over in staff, or don't train the staff well enough, so they'll always ban the use of $50/$100 no matter how secure the currency.  Most mom&pop shops will maintain a conservative policy of what type of denominations they will accept, and I expect that will remain the same for some time. 

Other situations may also bear on whether a business takes a higher denomination: such as, a manager transaction vs a p/t staffer, the age and deport of the customer, etc.  If a business (such as furniture, or used car sales, etc) is under the gun to meet a sales quota I doubt there would be as much hassle with a higher denomination (to pay for a high ticket priced item) vs a Mack's convenience store for slushy.  As suggested in an earlier post, some major retailers (such as Costco which only accepts American Express credit) will have to deal with higher currency & will likely continue to do so for some time as a convenience to their client base. 

As times change, I would expect most service/merchandise staffers expecting their clientele to use credit/debit transactions rather than higher polymer currency but I may be wrong (there are always exceptions).  Now that credit cards have a chip (with PIN# verification) & have become the desired method of payment for high priced items, I still tend to believe that will be the preferred way of the future. 

 

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