i've heard that banks trade $ in thousands, is that true?
2007-01-22 06:58:11 · 7 answers · asked by girlhunt 1 in Business & Finance ➔ Other - Business & Finance
Yes, there is a thousand dollar bill for many countries. The United States has a $1,000 bill with Grover Cleveland. The highest US dollar bill is the $100,000 bill with Woodrow Wilson.
Other countries have similar large bills but the banks generally use electronic transfers...not cases of $1,000 bills.
2007-01-22 07:03:31 · answer #1 · answered by Blicka 4 · 1⤊ 1⤋
One Thousand Dollar Bill
2016-10-07 13:22:31 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Yes: There are $1,000 dollar bills. Banks trade dollars in thousands & millions. These are done with the writing of numbers on paper.
Why should my bank Pennsylvania send $50,000 to your bank in California when the California bank owe the Florida bank $30,000 and the New York bank $20,000.
My bank send notice to the federal reserve that it will credit the California bank $50,000. The California bank sends the federal reserve notice that it will credit the Florida bank $30.000 and the New York bank $20,000.
In the end the bank is only required to send money to the Federal Reserve if they do not receive enough credit to cover the credit they have assigned.
And these banks receive the prime rate for overnight loans.
2007-01-22 07:15:16 · answer #3 · answered by whatevit 5 · 2⤊ 1⤋
No, there is no longer a $1000 or $500 bill being produced by the US Treasury. Banks no longer transact in high denomination bills (most money is electronic these days). I believe the last $500 and $1000 bills were printed in the 1930's. If you come across one they are quite valuable.
2007-01-22 07:01:31 · answer #4 · answered by surfinthedesert 5 · 1⤊ 1⤋
No, I don't think it's true because I have never heard of it, unless someone was trying to make a couterfeit one-thousand dollar bill.
2007-01-22 07:07:14 · answer #5 · answered by kunversita 2 · 0⤊ 3⤋
yes it is true there is even a 100,000 dollar bill though they are no longer used
2007-01-22 07:04:54 · answer #6 · answered by Tom L 2 · 0⤊ 0⤋
There is a $1000 a $5000 and a $10,000 but they are not for public use...they are all registered and used by banks.
2007-01-22 07:02:38 · answer #7 · answered by Perry L 5 · 1⤊ 1⤋
how can ou tell if it is real the 1000 dollar bill
2015-08-11 11:46:45 · answer #8 · answered by Barabara D 1 · 0⤊ 0⤋
No, not anymore.....at one point there was a thousand dollar bill, but now the highest denomination is $100.
2007-01-22 07:00:35 · answer #9 · answered by Jojo 3 · 1⤊ 4⤋
I don't know, maybe.
If yes, I wish to obtain one!
2014-06-10 23:47:56 · answer #10 · answered by amer n 1 · 0⤊ 0⤋