I work as a bank teller. 3 reasons why you should never request $100 bills from a bank

According to data intelligence firm SAS Analytics, $100 bills account for 34% of paper currency in circulation in the U.S. and 82% of its value.

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In short, most of our paper money is in the hundreds — by a wide margin — but that doesn’t mean it’s never a bad idea to ask for money when you walk into a bank office.

Choose your moment, whether you want a brand new, crisp C-note for your emergency cash at home or to include in a wedding envelope or birthday gift.

A Note About the Curious, Cumbersome and Crime-Fueling C-Note

Several newspapers, including the Wall Street Journal and the New Republic, have carried a strange economic satire. The $100 bill is the least used note, while the most used (it even surpassed the ubiquitous $1 bill in 2016).

Registration clerks automatically obtain a counterfeit-detection pen when they see an ATM; Hundreds of them are out of stock and many stores don’t accept them. Check your wallet. Most decent people don’t have hundreds, and it’s possible you don’t either.

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Bye, Bye, Benjamin?

“Benjamins are the favorite currency of criminals and almost no one else,” the New Republic said, part of a long-running push to stop production and return the current $100 notes.

Wealthy tax evaders, rogue foreign officials, moneylenders, counterfeiters and other criminals stock them, yet the vast majority of law-abiding citizens never use them outside of special events or international trips.
In 1976, an economist named James Henry wrote in The Washington Monthly that the $100 note should be phased out, since, fifty years earlier, organized criminals and tax evaders had used it virtually exclusively as their preferred form of payment. . The Treasury stopped issuing $500 and $1,000 notes in 1945 and recalled the remaining $1,000 and $5,000 bills in 1969 and $10,000 bills because of their overwhelming prevalence in money laundering.

All that remains is the overwhelming C-note at the top.

In short, no bank note is the same as the Benjamin, and requesting a bank note is not the same as requesting any other denomination. Here’s when you shouldn’t do it.

Avoid Peak Banking Hours

In addition to being the creator of the personal finance website Richiest, Michael Ashley is a financial advisor and was employed by Wells Fargo and Citi, two of the nation’s and the world’s largest banks, for many years.

“During peak hours, especially during the busy morning or lunch rush, I would advise against requesting $100 bills at a bank branch,” he warned. “During this period, there is usually a large volume of transactions and customer enquiries, which can lead to long wait times and inconvenience to both staff and customers.”

As Ashley points out, banks hire part-time tellers to supplement staff during the rush hour hours of 11am to 1pm. Monday and Friday. This means you should avoid going on these normally busy days. Moreover

In addition to being the creator of the personal finance website Richiest, Michael Ashley is a financial advisor and was employed by Wells Fargo and Citi, two of the nation’s and the world’s largest banks, for many years.

“During peak hours, especially during the busy morning or lunch rush, I would advise against requesting $100 bills at a bank branch,” he warned. “During this period, there is usually a large volume of transactions and customer enquiries, which can lead to long wait times and inconvenience to both staff and customers.”

As Ashley points out, banks hire part-time tellers to supplement staff during the rush hour hours of 11am to 1pm. Monday and Friday. This means you should avoid going on these normally busy days. Moreover avoid Saturday mornings and traditional paydays like the first and last of the month.

Stay Away When the Bank Is Low on Cash

Cash reserves in a bank are subject to fluctuations, so you don’t want to walk in with an empty vault and ask for a $100 bill before an armored vehicle arrives with fresh cash.

When cash is scarce on weekends or holidays, Ashley suggests not requesting $100 bills because the bank is in the process of replenishing its cash reserves. This may cause delay and inconvenience to customers as well as bank employees as it may take more time and effort to fulfill such requests. Alternatively, consider scheduling your appointment for a quieter time on a weekday, such as midday or afternoon, to ensure a more efficient and convenient banking experience for all parties.

The Wrong Time Is Any Time You Don’t Call Ahead First

The Washington Post reports that banks are required by law to keep three to ten percent of their deposits in cash on hand. Larger banks may have $200,000 or more in cash at any given moment, while smaller banks may have less than $50,000 in cash.

The bank may not have hundreds on hand, depending on whether they are flush or anxiously awaiting a much-needed refill. Repair is easy. Before you go to the branch, call them and find out if they can accommodate your request.

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