The new plastic 100$ bill !

[Guest Derek L]

Where I live (Vancouver Island): Starbucks, McDonalds, Tim Hortons.

I went over to the Island at Thanksgiving, paid for fuel with large bills in Colwood, the Ferry and food on the ferry (Which doesn’t accept debt)……….I prefer paying with cash, were as my wife will pay with Visa to get the Airmiles, then immediately transfer the purchase price from our bank account to pay the balance……I can’t think of a recent purchase where I’ve been refused.

[Guest Derek L]

It's bad business not to accept money. It screams, "we're too lazy to check counterfeits." If the can't train their staff to take literally 2 secs to check a bill, they're not worth your patronage.

I have noticed that, at both the grocery store(Superstore) and gas stations, they'll check it with the little black light scanner.

[Guest Derek L]

You need a new vehicle bro! My Dad has a 4WD truck, never seen that kind of pump price.

Chevy 3500 dually 4x4 with twin tanks, diesel……..and I didn’t even fill the tanks

[wyly]

Oh man your lucky!

My neighbour showed me one back in the late 70's.

He told me that they were taken out of circulation around the 50's or something like that.

I was thinking of going to a coin shop to find one.

I always got my eye open for that Canadian 1969 dime too!

WWWTT

they're not uncommon everyone saved one or two it seems...you could probably still pick one one up for a few bucks...

[fellowtraveller]

The banks are constantly pushing us to do digital (bank cards with RFID chips)

They will very soon be insisting we get only bank debit cards with Visa and Mastercard logos. The cost of getting screwed daily by your bank is about to go up sharply in Canada.

I was in the US this year and a few places refused my standard Canadian debit card because it did not have a Visa or Mastercard logo. I gave up and used my credit card. Our low cost Interac system is going to be gone soon, count on it.

[Smallc]

I accept $100 bills all of the time. I cash cheques and use $100 bills. It's part of doing business.

[msj]

I went over to the Island at Thanksgiving, paid for fuel with large bills in Colwood, the Ferry and food on the ferry (Which doesn’t accept debt)……….

Starbucks, McDonalds and Tim Hortons are coffee/restaurant chains rather than Ferry services so maybe that's why there's a difference.

[cybercoma]

I have noticed that, at both the grocery store(Superstore) and gas stations, they'll check it with the little black light scanner.

You don't even need to do that. There are other devices printed into the bills that you could check easily without the black light. Besides, I don't believe there's enough counterfeit out there to make it worthwhile to inconvenience your customers. Even if your staff never checked the bills, you'll probably only have the odd item or two go through. Now that, of course, depends on the type of business you're running. You're probalby more likely to get them at gas stations, electronics stores, or jewellery stores for example. Nevertheless, there's no reason that the vast majority of places shouldn't take $100 bills. If they can't make change, then they need to adjust the value of the floats in their tills.

Long story short, I don't believe the increased security outweighs the inconvenience to customers.

Edited November 15, 2011 by cybercoma

[wyly]

You don't even need to do that. There are other devices printed into the bills that you could check easily without the black light. Besides, I don't believe there's enough counterfeit out there to make it worthwhile to inconvenience your customers. Even if your staff never checked the bills, you'll probably only have the odd item or two go through. Now that, of course, depends on the type of business you're running. You're probalby more likely to get them at gas stations, electronics stores, or jewellery stores for example. Nevertheless, there's no reason that the vast majority of places shouldn't take $100 bills. If they can't make change, then they need to adjust the value of the floats in their tills.

Long story short, I don't believe the increased security outweighs the inconvenience to customers.

small floats are a safety issue, big floats increase the likelihood of robbery...

[Wilber]

You need a new vehicle bro! My Dad has a 4WD truck, never seen that kind of pump price.

The tank in my truck holds 34 USG or 128.5 liters and some have bigger tanks than mine. Cheapest diesel around here is around $1.29 per liter so that would be about $166 to fill it from empty.

[Bryan]

I don't doubt the claim that some places don't accept $100 bills, but I've never seen one. I've never had any problems paying with $100's.

[dre]

I don't doubt the claim that some places don't accept $100 bills, but I've never seen one. I've never had any problems paying with $100's.

Theres some places that dont accept 100's where I live but lots that do. Some conveniences wont accept them after hours when the safe is locked up because their float disappears fast if they do.

[Tilter]

I accept 100 dollar bills.

Please send a bunch to me :lol:

[William Ashley]

the only thing I've noticed bad so far is that it creases very easily. then keeps the lines in the clear part.

So if it gets bent and creased it will keep an L shape with a crease in it. It has me wonder how many times it can bend back and forth before it breaks.

Edited December 3, 2011 by William Ashley

[William Ashley]

I don't doubt the claim that some places don't accept $100 bills, but I've never seen one. I've never had any problems paying with $100's.

I've encountered a few, smaller places are more often.. trust in taking the bill may play part of the role in taking it or not. Like I can look good or creepy depending on how I do my hair and dress and act so I've gotten quite a range of responses from people. I don't like hundreds unless I have many thousands of dollars on me because they arn't as well accepted at smaller stores with limited till cash. $20 are generally accepted bill.. you would almost never be denied a $20 taken. A small business who looses a 100$ can actually be substantial.. big stores may not be as big of a deal but I do recall a large store or two not taking hundreds... In mexico you try to use a hundred at a store then you might get turned down or sent a a cahjera, it is totally understanble small businesses that are eeking out their existence don't want to take the risk of counterfits of large sums

This is why a simple serial tracking system and report of ownership transfer of these bills through an automated system would keep trusted money much safer, for sums of a substantial amount.eg ownership of $500 and $1000 bills with registration at banks etc.. after that you are dealing with tbills anyway.

Allowing the bills to be paypass or interact readable would allow them to be hooked into a tracking network for securing the bills as "good".

There are simple novel ways of increasing efficiency of currency.

it would also stop theft to a degree also...

It might also inhibit illicit money laundering.

Edited December 3, 2011 by William Ashley

[msj]

Here is a good story about the new $100 polymer bills.

Glad to see Canada going back down under the 50 fake bills per million bills in circulation - this will bring back confidence so that businesses can worry about conducting business rather than whether or not they are actually getting paid upon receiving cash.

Funny money: How counterfeiting led to a major overhaul of Canada’s money

At a Wendy’s restaurant in Etobicoke, Ont., a sign on the window warns customers that large denominations are not welcome: “Due to increased concerns over counterfeit $100 bills, Wendy’s can not accept $100 bills from any customer.”

The new polymer $100 bill has been in circulation for less than 24 hours when one of them is handed to the cashier to pay for a $7 meal. After close inspection, the cashier nods and accepts the strange new bill.

It is a small but significant change in thinking for a business that lost confidence in some of the country’s banknotes during a decade of rising counterfeit numbers. But there is still a long way to go. This is just one location, and polymer money has barely started circulating. The great money scrub has only just begun.

[sharkman]

Good article on the problem at hand. I'm surprised no one seemed aware of this issue. Many places stopped taking the 100 bill because of counterfeiters. Maybe it's worse out here in the Vancouver/Lower Mainland region where there is a huge drug/gang problem.

I'm hoping that the new bill makes it difficult to counterfeit. I was passed bad 20's back when the current 20 was new. I had an ad to sell some old car audio gear and this kid gave me the old 20's and they were bad. I deposited them in the ATM and got a letter informing me that that deposit had been removed from my account due to counterfeit money. A few years later another kid bought 10 in gas and paid in front of me. She dropped a 10 and walked out. It took the clerk a few seconds to pick up the bill and he knew right away that it was bad, but the kid had parked to fill up close to the door and was gone.

Then the gas robbers got lazy and started just driving off more often. In BC, a clerk was killed trying to stop a drive off and it changed the way we pay for gas. Pre pay only now.

[Topaz]

So if we ever run out of oil, do we also run out of Canadian $100 bills?

[eyeball]

Many places stopped taking the 100 bill because of counterfeiters. Maybe it's worse out here in the Vancouver/Lower Mainland region where there is a huge drug/gang problem.

I think you must mean it's huge prohibition problem, something that's probably funded by printing money ironically enough.

[August1991]

By starting with the 100, more places might accept a much more secure bill. Polymer notes are the way to go. Much harder to counterfeit, last a lot longer and you can get them wet without damaging them.

Exactly.

Many people, for a variety of reasons, want to conduct transactions in a straightforward, honest, untraceable way. I reckon that anonymous, physical money will be with us for a long time.

These new $100 banknotes, this "physical money", is a good thing. It is honest and clear (and cheap to produce - but extremely costly/impossible to imitate). If I were the Bank of Canada, I would introduce similar polymer $500 banknotes. They may become popular in the US.

There's a 500 euro note, but it's not polymer.

----

BTW, the Australians were the first to use these banknotes.

Edited December 4, 2011 by August1991

[August1991]

I accept $100 bills all of the time. I cash cheques and use $100 bills. It's part of doing business.

Good cashiers can detect fakes by touching them. In a previous life, I had to learn about government documents. I concluded that micro-printing was the best definition of authenticity. These new polymer bills make the micro-printing rule general. Everyone, not just good cashiers, will know the fakes.

In addition, these polymer bills are costly to print but they last for a long time. IOW, they are cheap to make if a government has no intention to pursue an inflationary policy.

Here's a thought: The Bank of Canada has announced its anti-inflationary strategy by committing to costly polymer notes that last for a long time.

Edited December 4, 2011 by August1991

[Tilter]

So if we ever run out of oil, do we also run out of Canadian $100 bills?

Not in our lifetime.

[Tilter]

Good cashiers can detect fakes by touching them. In a previous life, I had to learn about government documents. I concluded that micro-printing was the best definition of authenticity. These new polymer bills make the micro-printing rule general. Everyone, not just good cashiers, will know the fakes.

In addition, these polymer bills are costly to print but they last for a long time. IOW, they are cheap to make if a government has no intention to pursue an inflationary policy.

Here's a thought: The Bank of Canada has announced its anti-inflationary strategy by committing to costly polymer notes that last for a long time.

What I don't understand is why they started with the 100 bucker---- even the old 100$ bills last longer than any other because of the infrequency of use. I'd like to use the 100s more ut have trouble getting them- -- & I've never been refused use of 1 in any store.

[msj]

What I don't understand is why they started with the 100 bucker---- even the old 100$ bills last longer than any other because of the infrequency of use. I'd like to use the 100s more ut have trouble getting them- -- & I've never been refused use of 1 in any store.

Because the $100 bill (and $50) have been the most prone to counterfeiting.

[Bryan]

BTW, the Australians were the first to use these banknotes.

Several Caribbean/Central American countries tried polymer notes before Australia did, but Australia perfected the 'Guardian' process that everyone uses now.

The neat thing about these kind of bills is the more they wear, the more 'normal' they feel. I've got a well-used Mexican 50 that if it wasn't for the 'window', you'd swear it was paper.