Why aren't €100 and €200 notes more common?

SB71

i didn't even know there was €200 notes, ive seen €100 notes before not very often though.

Squeeonline

McGaggs wrote: »

Irish shops complaining about having to break a 20 you got from their ATM. My local shop when I lived in the States had no issue with a $100 bill being used to buy something for a couple of dollars

I've paid for a bottle of coke with a 200 chf note direct from the ATM in Switzerland. Initially, for such a transaction, I would apologise, but in switzerland not a second glance especially in a supermarket.

They are also happy for contactless payment for such a thing. No difference to them, as it should be!

Everybodyjay

It is really strange that with the cost of living so High in Ireland that we don't use 100 and 200 notes, definitely don't see why we don't use 100's like if we use a bank machine why is it defaulted to always give 50's.. When I pay my rent I hand over twenty 50 notes.

GazzaL

GazzaL wrote: »

Cash is king.

In many countries you need to carry cash.

Everyone should pay tax.

Strumms

McGaggs wrote: »

The last time I encountered an issue with a card machine was more than 10 years ago, and it was due to the cashier not reading the display on the machine properly. I just used a card.

When the power is out in a shop, their tills don't work so they can't even do cash transactions.

Power is out in a shop they can hand write a receipt and they can use a calculator to verify the correct change. I’ve been in that situation.

Both options should be available to the consumer. Cash is legal tender ? It should be mandatory to accept. Up to the business to ensure all security, storage and accounting measures and procedures are safe . An exception could be say transactions over xxxx amount... say 15,000, like somebody buying a car.

The J Stands for Jay

Strumms wrote: »

Cash is legal tender ? It should be mandatory to accept.

Sounds like a fascist dystopia

Dravokivich

There is no actual purpose to them. A consumer really shouldn't have them at all. Its mainly used for business transactions. When I worked in a newsagents I wouldn't take anything more than a 50 note.

Someone tried to ask me to break a 200 for them once. I barely looked at it and refused to. They then asked for chewing gum and i informed them I wouldnt be able to give them any change.

The Tetrarch

The last time I saw big denomination Euro notes was in 2003 (Euro introduced here in 2002), 200s and 500s. It was 60k+ and 30k+ paid out in notes at a poker tournament (not me unfortunately).
I thought the reason you don't see larger notes is it cut down on forgery.

RandomViewer

Obvious Desperate Breakfasts wrote: »

In the UK, you don't even see £50 notes that often. My friend's British husband was in his 20s before he saw one. I never received a £50 note from an ATM when I lived there and only very rarely in shops.

Remember first time in Liverpool mid nineties, pubs wouldnt take 50s,

JupiterKid

AFAIK the lack of widespread availability of Euro denominations greater than €50 is related to security and counterfeiting issues.

In both Austria and Germany, bank ATMs will dispense €100 notes (the green ones) and it is only in both these countries that I have handled these notes. My Austrian friend thinks it strange that in Ireland she can only get €50 notes as the maximum denomination.

In other Eurozone countries that I've been to in recent years - such as the Netherlands, Belgium, Spain, France and Italy - the highest note I've got out of ATMs is the €50.

Whilst it would be handy to have €100 notes in cash from time to time, the current limit on notes dispensed by banks here seems to work fine.

Years ago, I saw a fairly dodgy looking character with €200 notes in a petrol station. The sales attendant refused to accept them.

FTA69

The only time I ever got a €200 note was out of an ATM in bloody Montenegro which isn’t even in the EU but uses the euro. Considering a pint was around a pound it was a nightmare and me and two others had to work up a massive tab in a restaurant and bar before they’d consider taking it; no shop would accept it really.

riclad

People use credit cards and apple pay. I don't know why anyone needs to carry 100s of euros around with them every day

ongarboy

Wouldn't it be fair to say virtually all PAYE workers(the vast majority of irish workers) get paid electronically into their bank account (what payroll dept would pay in cash in 2020??) so therefore it would make sense to just use card to pay for something instead of queuing in the rain at an ATM?

Secondly, all those people who want to carry 100s or 1000 around in cash, are you not worried about losing it or theft. No comeback from that unlike a card.

Only bugbear I have is taxis, parking meters, a handful of mainly rural pubs and then many takeaways (who's card machines are mysteriously out of order indefinitely) will only accept cash (although some taxis and meters are starting to take them now). Everything else seamlessly takes card.

COVID has accelerated card/Google pay etc and people won't revert back. Most millenials never used cash anyway

Finally, OP is worried that "everyone in the bank" will know (or care) if he bought bread in Spar rather than Centra today if he paid by card...seriously??!!

Mr.S

Mr.S wrote: »

Switzerland have a 1000 CHF note, not an eyelid batted when that's used.

They issued a new version of it last year. Worth over €900 and according to a mate who lives there, used often enough.

Victor

ongarboy wrote: »

what payroll dept would pay in cash in 2020??

Some businesses that take in a lot of cash may pay staff in cash.

Darc19

st1979 wrote: »

Go to atm in Germany and you get every denomination from machine. If you withdrew 1000 you usually get a 500 200, 100, 50, 20s 10s and 5s.
No problem having a 500 note accepted all the shops have a pen and check for counterfeits. In Ireland very difficult to use a 200 or 500 note.
Found Germany a very cash based society. But then I was out in rural area

Germany no longer issue €500 notes. They stopped last year.

Yes they are available and accepted, but they are not dispensed in atms

Up to two years ago I went frequently and never got a €500 from an atm nor given the option. €100 notes, yes. And I'd have to withdraw €1000+ daily to pay casual staff for the type of work that we did when we were there.

The problem with the notes is that they were used by criminals. €50,000 would fit into an a5 envelope.

Ireland never issued €200 or €500 notes, so any that were here came from abroad

riclad

I think you mean gen Z dont use cash.
millenials are the previous generation.

theres plenty of small shops and chippers that do not accept cards they have no card machine.
credit cards charge the retailer 3 per cent transaction fee.
Its cash or else shop somewhere else.
drug dealers only accept cash.
gen z buys alot of drugs.
Just because you have no card does not mean you need to carry 100,s around you at all times.
if i go to the bank i get paid in 50,s ,i never got paid in 100 euro bills.
i spend maybe 30 euro on food every week, i do,nt see the need to get a credit card
if you read certain websites it always says in 3 years time we,ll all be driving electric cars .
Ireland is not sweden , especially in working class area,s many shops only take credit card.
maybe in 10 years time we,ll all be using phones to pay for everything.
Of course in china even the beggars and buskers take electronic payments .
its hard to buy anything in china with cash.

The J Stands for Jay

Victor wrote: »

Some businesses that take in a lot of cash may pay staff in cash.

All to save the high cost of dealing with cash.

PARlance

riclad wrote: »

credit cards charge the retailer 3 per cent transaction fee.
Its cash or else shop somewhere else.

There's a cost to cash as well and it can be more than 3%. You get charged to lodge cash to the bank, there's the risk of theft (employee and robbery) to factor in as well.

Beltby

ongarboy wrote: »

Wouldn't it be fair to say virtually all PAYE workers(the vast majority of irish workers) get paid electronically into their bank account (what payroll dept would pay in cash in 2020??) so therefore it would make sense to just use card to pay for something instead of queuing in the rain at an ATM?

Secondly, all those people who want to carry 100s or 1000 around in cash, are you not worried about losing it or theft. No comeback from that unlike a card.

Only bugbear I have is taxis, parking meters, a handful of mainly rural pubs and then many takeaways (who's card machines are mysteriously out of order indefinitely) will only accept cash (although some taxis and meters are starting to take them now). Everything else seamlessly takes card.

COVID has accelerated card/Google pay etc and people won't revert back. Most millenials never used cash anyway

Finally, OP is worried that "everyone in the bank" will know (or care) if he bought bread in Spar rather than Centra today if he paid by card...seriously??!!

Try buying a lotto ticket online and then applying for a loan. It WILL be brought up and queried.