Insights from a Bank Teller: 3 Situations to Avoid Requesting $100 Bills
According to SAS Analytics, $100 bills make up 34% of the paper currency in circulation in the U.S. and account for 82% of its value. In other words, most of our paper money consists of $100 bills, but that doesn’t mean it’s always easy to get one at the bank.
Whether you need a crisp $100 bill for a birthday card, a wedding gift, or just to keep at home for emergencies, timing is key. Here’s what you should know.
The $100 bill is the most common note but also the least used. ATMs don’t dispense them, many stores won’t accept them, and cashiers often check them for counterfeits. Chances are, you don’t have one in your wallet, and neither do most people.
There’s been a push to stop printing $100 bills and even recall them. Criminals favor these bills, while law-abiding citizens rarely use them except for international travel or special events. Calls to end the $100 bill date back to 1976 when economist James Henry pointed out its popularity among criminals. Higher-denomination bills like $500 and $1,000 were discontinued in the mid-20th century for similar reasons, leaving the $100 bill as the highest denomination in circulation.
Asking for a $100 bill at the bank isn’t like asking for smaller denominations. Here’s when to avoid doing so.
Avoid peak banking hours. Financial planner Michael Ashley, who has years of experience working at major banks, advises against requesting $100 bills during busy times like mornings or lunch hours. These times see high transaction volumes and long wait times, leading to frustration for both customers and staff. Monday and Friday are traditionally busy, and banks often hire extra tellers for the lunch rush from 11 a.m. to 1 p.m. Avoid Saturday mornings and paydays, typically the first and last days of the month.
Stay away when the bank is low on cash. Banks manage fluctuating cash supplies, and you don’t want to ask for a $100 bill just before the armored truck arrives with more cash. It’s best to avoid asking for $100 bills after weekends or holidays when the bank might be low on cash. Instead, plan your visit during quieter times, like mid-morning or mid-afternoon on weekdays, for a smoother experience.