Reply #186: The Challenges of Spending a $100 Bill [View All]

[dkf]

Some businesses won’t accept the $100 bill.

We recently came across a Facebook status update from a friend of Bucks who had trouble spending a $100 bill. Here’s what she wrote: “I think it wld be easier to spend hungarian florints than pay with a $100 bill in nyc. people act like you’re a con artist for even trying.”

In a Bucks post on Tuesday, “The Merchants That Don’t Take Cash,” we wrote that a growing number of businesses are no longer taking cash and that those no-cash policies are legal. We also noted how it’s perfectly legal for businesses to decide not to accept a certain denomination like a $100 bill.

According to the Department of the Treasury’s site, businesses “may refuse to accept large denomination currency (usually notes above $20) as a matter of policy.”

http://bucks.blogs.nytimes.com/2010/06/10/the-challenges-of-using-a-100-bill/