How do some companies get away with not accepting bills over $20 for ex McDonalds? I thought that under the law all legal money such are $50,100 bills must be accepted or you get your food. Was this law repealed or are they just not enforcing it anymore?
Bills over $20 not accepted
- Thread starter Ylen13
- Start date
They don't have to accept anything they don't want. "This bill is legal tender for all debts, public and private" jsut means that it's real money, not that someone has to accept it. They don't take 100's cause they can't make change.
If someone comes into McDonalds with a $100 bill, orders $3 worth of stuff, and there's only $11 in the cash register, do you expect them to give the guy his food for free?
If someone comes into McDonalds with a $100 bill, orders $3 worth of stuff, and there's only $11 in the cash register, do you expect them to give the guy his food for free?
Of all the crimes to commit, this is pretty low down the priority list for the cops.
If you want to take McDonald's to court, go ahead. You'd probably win. But until someone takes 'em to court nothing will change.
If you want to take McDonald's to court, go ahead. You'd probably win. But until someone takes 'em to court nothing will change.
dullard
Elite Member
- May 21, 2001
- 25,913
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US Treasury answer:
"This statute means that all United States money as identified above are a valid and legal offer of payment for debts when tendered to a creditor. There is, however, no Federal statute mandating that a private business, a person or an organization must accept currency or coins as for payment for goods and/or services. Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise. For example, a bus line may prohibit payment of fares in pennies or dollar bills. In addition, movie theaters, convenience stores and gas stations may refuse to accept large denomination currency (usually notes above $20) as a matter of policy."
Sorry Kevin and NogginBoink, the US Treasury disagrees with you...
"This statute means that all United States money as identified above are a valid and legal offer of payment for debts when tendered to a creditor. There is, however, no Federal statute mandating that a private business, a person or an organization must accept currency or coins as for payment for goods and/or services. Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise. For example, a bus line may prohibit payment of fares in pennies or dollar bills. In addition, movie theaters, convenience stores and gas stations may refuse to accept large denomination currency (usually notes above $20) as a matter of policy."
Sorry Kevin and NogginBoink, the US Treasury disagrees with you...
it actually cost compnaies money to have the bank deliver change to them ...rolls and money.
also they dont want to become targets for crime..so the sign tells the would be robber this store does not have alot of money in the till..
besides they dont have to take your money..try to convince a judge that a compnay has to take ur money..they can refuse u service as well as your money...buying a mcbig mac is a privelage not a right dammit!
why would a someone like you with a big fat pimp money roll be buying at mcdees anyway?
also they dont want to become targets for crime..so the sign tells the would be robber this store does not have alot of money in the till..
besides they dont have to take your money..try to convince a judge that a compnay has to take ur money..they can refuse u service as well as your money...buying a mcbig mac is a privelage not a right dammit!
why would a someone like you with a big fat pimp money roll be buying at mcdees anyway?
Businesses don't accept large bills because they try to keep the cash in the register to a minimum for the protection of their assets, including the employees. When people used to come in to my business and try to cash a big bill for a 25 cent purchase, I would point them to the bank 2 doors down. Idiots.
Rich
Rich
Also, a place like McDonalds doesn't usually have the smartest people, or people who care about their jobs. By not taking large bills they avoid the old trick where a customer, after recieving their change for $10, says "I gave you $100." Not much the employee can do if they put the bill back in the register.
how do u figure they cant?
if they can kick u out of their store (private property) they can refuse to take ur money, talk to u, look at u, let u park in their parkign lot...
thx for all explantion and i thought there was law that said they must accept over $20 guess i was wrong
And you piss off the wrong person and have to deal with discrimination lawsuits. If you're smart, its not worth the headache to deal with the ignorant...
Um, no. Policy is NOT defined as being written or otherwise. Policy could just as easily me a cashier saying: "I don't want to accept your $100 bill because I'm too damn lazy to go open the safe and make change for your $100".
That's just a hypothetical situation. Standard practice at most establishments is to initially have your drawer at $50-$100 in bills & change. The only way to decrease it from your initial amount is to give refunds, so it'd be pretty hard to only have $11 in your drawer. And if that was the case, you'd take out a loan from the safe to pay the customer his change.
CubicZirconia
Diamond Member
- Nov 24, 2001
- 5,193
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Honestly, just deal with it. It's pretty obvious why businesses wouldn't want to accept 50's or 100's. Get a checkbook or something.
Alot of places don't want to get stuck with a counterfeit bill. People will use a fake bill on an unsuspecting kid working a register.
That and some places don't want to have to have so much money they can make change for the bills.
But I think its more of the first one. I once was at a gas station that refused to take 50s even when the bill was 40 dollars.
That and some places don't want to have to have so much money they can make change for the bills.
But I think its more of the first one. I once was at a gas station that refused to take 50s even when the bill was 40 dollars.
Happened all the time at my moms store. Guys would come in with 100's for a $2 cup of coffee. Sometimes we would go in the back to see if we had change in the safe but most of the time we just refused the business. What idiot buys a cup of coffee with a 100 dollar bill.
CubicZirconia
Diamond Member
- Nov 24, 2001
- 5,193
- 0
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You think that's bad? I work in a Hardware store. More often than you'd think people come in and want to buy less than quarter worth of nuts/bolts with a 50 or a 100. Give me a break.
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