Can a convenient store legally refuse to break a 100 dollar bill?

Question

I constantly see "No bills over 50!" at convenient stores. Is this legal? They can just make their own laws? Disregarding " THIS NOTE IS LEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE"

Answer 1

When it comes to cash, from pennies to the big bills, the retailer is free to decide what to accept and what to reject.

In addition, despite urban legend, Title 31 (Money and Finance), Subtitle IV (Money), Chapter 51 (Coins and Currency), Subchapter I (Monetary System), Section 5103 (Legal Tender) of the United States Code states:

United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues. Foreign gold or silver coins are not legal tender for debts.

What this statute means, in the words of the United States Treasury, is that "[A]ll United States money . . . is a valid and legal offer of payment for debts when tendered to a creditor. There is, however, no Federal law mandating that a person or organization must accept currency or coins as for payment for goods and/or services."

So, you can pay for your slim jim and slurpee and smokes and roller dog in pennies, but the store is under no obligation to take them.

Answer 2

that hundred dollar bill is actually a note of debt, or borrowed money. then there's the store is on private property, so they don't have to serve you or anybody else. Now if this where government regulated(bank) or a Government institution, then they cannot turn it down under most circumstances. Reminds me of this one time where a few friends where debating weather there should be laws stating when a store should open and close throughout the City, the conclusion was no because they are private businesses, do you see where im going with this?

Answer 3

Many convenient stores only keep a small amount of cash in their registers. To keep people from robbing them. Many convenient stores don't even have $100 in their drawer. Many convenient stores will drop anything $20 or more in a safe. So to answer your question if they don't have enough money in their drawer to give you change they have to refuse to break $100 bill.

Answer 4

I don't know about the legality of the subject. But, if you think about it, it is intelligent to not allow them because they immediately are placed into the safe via a slot. And if the cashier makes change then leaves the cash register short on cash making it difficult to impossible to pay customers what they owe them creating more debt on the convenient store side, and that doesn't make for good business practice.

Answer 5

Yes, they are a privately owned business, and can refuse a service anytime they want. All that the statement on the bill means is that "THIS IS MONEY". If I own a carwash and you drive up and scream "THIS IS A CAR" that doesn't mean I have to wash it. Many stores no longer keep enough in the register to break a $100 bill.

Answer 6

Technically, no, but there are legitimate security issues involved, so raising a stink about it will avail you little or nothing. Just be sure to carry some smaller bills -- I use 20's for almost everything, because that's what the ATM gives out.

Answer 7

yes they can but most can make change for bigger bills but you have to wait the safe will only let go of about 20 bucks every 10 minutes. this is all to stop people from robbing the store most carry less than a 100 in change so they dont lose alot if the get robbed

Answer 8

I refuse them all the time, we have gotten two fakes in the last year. But, it is still polite to excercise discretion, if someone is buying $75 dollars worth of stuff it's usually not a fake, as most people with fakes tend to want to spend minimally so as to recieve clean, untraceable cash in return.

Answer 9

Yes. A private business has the right to refuse service to anybody for whatever reason they deem. If you do not like it, you will have to sue them.

In order to sue them, you would have to purchase an item, attempt to pay with a large bill. Be refused, then arrested for non payment (if you get arrested for anything else, you will not have a case).

Then you need to find a crummy lawyer that will take your case and win.

Answer 10

Yes they can and clearly they do. They can accept or refuse any type of payment. It is for their protection. I used to work for a restaurant and you'd be surprised how much counterfeit passed through.