why do people carry around $100 notes in their wallets?

Question

I know some people who carry around $100 notes, but I don't really understand why. You can't get them at ATMs so they're not convenient. Most business won't even take them, or can't guarantee that they can take them.
And in this day and age, what could you possibly need notes that large for that you couldn't just use your credit or debit card for?

Answer 1

Some people don't like to carry credit cards due to the risk of identity theft.

Also, if you travel a lot, cash is accepted anywhere, and actually most places do accept $100s nowadays...the only times I've seen businesses not take them is after midnight at convenience stores, fast food places, or similar place when having a lot of cash on hand is a higher risk.

Another advantage to carrying cash is that if the power goes out or a natural disaster occurs, ATMs and credit machines are not available. That's why it's wise to keep some cash in your emergency supply kit.

More commonly, there are plenty of times when credit and ATM machines crash due to computer malfunction, at which point stores have no choice but to take cash only. Or, if your bank freezes your card due to a mistake or suspicious account activity (this happened to me once), you still have the backup to buy stuff.

Plus, if for some reason you need someone else to get something for you, it's easier on the mind to just hand them cash money than to say here, take my card and go buy what you need.

Answer 2

What about emergency situation where you need to pay someone who will not accept a debit or credit card and will not wait for you to go to the ATM (or perhaps there is no nearby ATM)?

I use my debit for everything and rarely carry cash. However, if I am going on a trip, I make sure to get some cash. Granted, I will take it in 20's. Some people like carrying the C-notes I guess.

Answer 3

so that if you find yourself in a situation where you need to have cash to pay for something, you have that. Since it's a 100, you're less likely to spend it or break it on something not necessary, you usually think twice.

That's my thought process on it, however, I'm sure that there are plenty that do this just to appear to be more of a high roller than they are (if you have to sell that idea, you're not one).

while some businesses don't want to tak a C note, on every one it states "This note is legal tender for all debts public and private"... so, they may not like to or want to, but it is legal tender... just like paying for something in pennies... they can request them to be rolled.

not an expert, just opinion.

by the way, an ATM isn't always convenient, nor is the use or a credit or debit card...

Answer 4

From my experience people do this to limit the amount of money they spend. Because it's harder to break a hundred note than any other bill, they will only use it when they really have to and be less likely to spend it. Money moves faster in smaller denominations.

Answer 5

There are still some fields, like farming for instance where large bills are used for cash purcahses. Some people also like to carry big bills around.

Answer 6

They want to seem like high rollers?

I only carry them when I've got no other choice. I am starting to dislike $100 bills very much.

Answer 7

I have a $100 in my pocket right now because a room-mate paid me rent with it. We'll probably use it on groceries or getting the windows tintedon our new car.

Answer 8

I for one don't need any more bulk in my wallet. If I am transferring cash from one place to another I always ask for large bills for that reason.

Answer 9

They want to look cool. I knew people that would get their entire paychecks in cash, and keep it in a roll in their front pocket. They did it to look like "high-rollers". No one knew that it was all the money they had to their name.

Answer 10

I don't feel comfortable with anything larger than a $20.