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

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  • 27-08-2020 7:05pm
    #1
    GazzaL
    Registered Users Posts: 1,395 ✭✭✭


    It'd be far handier than having a wallet full of 50s.


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    #2
    Truckermal
    Registered Users Posts: 6,048 ✭✭✭Truckermal


    A wallet full of no cash is even better just using your card or Google pay I can't remember the last time I had cash..


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    #3
    GazzaL
    Registered Users Posts: 1,395 ✭✭✭GazzaL


    Truckermal wrote: »
    A wallet full of no cash is even better just using your card or Google pay I can't remember the last time I had cash..

    Cash is king.

    In many countries you need to carry cash.


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    #4
    Riesen_Meal
    Registered Users Posts: 10,575 ✭✭✭✭Riesen_Meal


    Drug Dealers

    /Thread


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    #5
    KaneToad
    Registered Users Posts: 3,160 ✭✭✭KaneToad


    GazzaL wrote: »
    Cash is king.

    In many countries you need to carry cash.

    Not in this country though.


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    #6
    Princess Consuela Bananahammock
    Registered Users Posts: 33,014 ✭✭✭✭Princess Consuela Bananahammock


    Tyr going into the off for a can of something and handing over a 100 euro note and you'll see

    Everything I don't like is either woke or fascist - possibly both - pick one.



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    #7
    Wanderer78
    Registered Users Posts: 28,805 ✭✭✭✭Wanderer78


    Easier to move larger values of cash around when denominations are higher!


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    #8
    st1979
    Registered Users Posts: 936 ✭✭✭st1979


    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


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    #9
    GazzaL
    Registered Users Posts: 1,395 ✭✭✭GazzaL


    KaneToad wrote: »
    Not in this country though.

    Many businesses appreciate cash because they don't have to pay card handling fees.

    It's handy for all sizes of purchases, and for tipping people.

    It's also good for privacy if you don't want everyone that works in the bank to know when and where you spend your money.


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    #10
    EmptyTree
    Registered Users Posts: 748 ✭✭✭EmptyTree


    It's to make it more difficult to have large quantities of cash.

    So instead of one suitcase of money you'll need two. It's just so the airlines can charge for baggage. It's all just a money racket really.


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    #11
    Pauliedragon
    Registered Users Posts: 2,456 ✭✭✭Pauliedragon


    Some people like cash others like to use card. I use card these days but even when I did use cash I never felt the need to have a wallet full of 50s. Why the reason for carrying so much cash around?


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    #12
    GazzaL
    Registered Users Posts: 1,395 ✭✭✭GazzaL


    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

    It's the same in German cities.


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    #13
    Obvious Desperate Breakfasts
    Closed Accounts Posts: 8,474 ✭✭✭Obvious Desperate Breakfasts


    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.


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    #14
    EmmetSpiceland
    Registered Users Posts: 10,526 ✭✭✭✭EmmetSpiceland


    No one accepts €500 notes. And if you’d ever tried to “lodge” any into your bank account you’d find that a pain in the arse as well.

    I’m sure it’s different “nowadays” with the automated deposit machines but before them you’d be taken into an office and asked where you got the notes from, which would be noted on a form before it would be put into your account.

    Fifties are great, having hundreds isn’t “practical”. You can’t ask a Maître D’ for fifty back, like, or whomsoever’s palm your “greasing” to get ahead of the plebs.

    The tide is turning…



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    #15
    lalababa
    Registered Users Posts: 1,726 ✭✭✭lalababa


    I'm blue in de balls from asking banks for high denominations, can't even get hundreds. And the answer s always de same. No demand 'coz retailers are suspicious of anything over a 50. Have had the very odd 500/200/100 . Average retailer would think a 200 was funny money.
    Worst still is getting big notes for the UK & others. Got 10k in 20s GBP once....took awhile to count🙄


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    #16
    L1011
    Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 67,615 Mod ✭✭✭✭L1011


    100s are common enough (well - by comparison to normal) in the building trade. Have a customer who would pay in cash occasionally (above board) and its basically the only time I get 100s - and they're not easy to spend except in trade outlets.


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    #17
    McGinniesta
    Registered Users Posts: 4,402 ✭✭✭McGinniesta


    Because you have to have 100 euro to get one


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    #18
    blindside88
    Registered Users Posts: 1,968 ✭✭✭blindside88


    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.

    The UK is ridiculous for acceptance of what we would consider regular sized notes. I went to buy a round in a bar in Bristol a few years ago and handed in a £50 note, 2 staff members and the manager had to scrutinise it before they’d accept it. Similarly I bought something for £12 in a shop there and handed in £20, only to be asked “have you nothing smaller”!!!

    To answer your question op I just don’t think the majority of people have a need for larger denominations than a €50 note, €100 possibly but it would be needed very infrequently. On the rare occasions I’m taking thousands out in cash I’m usually spending it in one or two transactions and spending it fairly quickly.


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    #19
    Bobblehats
    Registered Users Posts: 4,707 ✭✭✭Bobblehats


    €200 notes were found to be excessive. €100 makes a better smoke


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    #20
    Beltby
    Closed Accounts Posts: 253 ✭✭Beltby


    blindside88 wrote: »
    The UK is ridiculous for acceptance of what we would consider regular sized notes. I went to buy a round in a bar in Bristol a few years ago and handed in a £50 note, 2 staff members and the manager had to scrutinise it before they’d accept it. Similarly I bought something for £12 in a shop there and handed in £20, only to be asked “have you nothing smaller”!!!

    To answer your question op I just don’t think the majority of people have a need for larger denominations than a €50 note, €100 possibly but it would be needed very infrequently. On the rare occasions I’m taking thousands out in cash I’m usually spending it in one or two transactions and spending it fairly quickly.

    I was buying 40 something pounds worth of shopping in a UK small supermarket and they wouldn't take a 50 off me. I had to leave the shopping there and go to an atm and then go back for the shopping.

    On another trip to the UK, we went to Aldi and bought 80 odd pounds worth of shopping and drink. Jesus Christ you'd think we handed them plutonium. 2 different managers came out to check the 2 50s we handed them. We caused quite the commotion. There was shoppers staring at us while we were sniggering at the staff.:pac:


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    #21
    Kylta
    Registered Users Posts: 15,457 ✭✭✭✭Kylta


    Beltby wrote: »
    I was buying 40 something pounds worth of shopping in a UK small supermarket and they wouldn't take a 50 off me. I had to leave the shopping there and go to an atm and then go back for the shopping.

    On another trip to the UK, we went to Aldi and bought 80 odd pounds worth of shopping and drink. Jesus Christ you'd think we handed them plutonium. 2 different managers came out to check the 2 50s we handed them. We caused quite the commotion. There was shoppers staring at us while we were sniggering at the staff.:pac:

    I remember holiday in england bout 10years ago and they were reluctant to take the 50 or 20 pound note due to counterfeiting. I used my card that much that I changed nearly all my sterling back into euros when I returned home.


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    #22
    AllForIt
    Registered Users Posts: 8,269 ✭✭✭AllForIt


    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.

    That's my experience as well. When ppl would pay in cash they'd have a wad of 20's when the bill is in the hundreds. They must have big pockets as I'd find carrying that volume of physical cash around with me inconvenient. You could see it bulging out of my skinny jeans.


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    #23
    biko
    Registered Users Posts: 81,223 ✭✭✭✭biko


    Neither 100s or 200s are really used as I suppose people are wary of them, thinking they won't be able to pass them on.

    https://www.irishtimes.com/business/retailers-differ-and-consumers-suffer-as-100-notes-fail-to-win-wide-acceptance-1.1158069
    As counterfeiting technology gets more and more advanced, some retailers, especially in high-volume outlets, are becoming reluctant to take large denomination notes. It is a common misconception amongst the public that it is illegal for retailers not to accept these notes, but, according to the Central Bank, they are perfectly within their rights.

    "As long as there is a notice clearly displayed within the store, preferably near the till, stating the company policy, then they can do what they like," said a Central Bank spokeswoman.

    "If they want to deal solely in fivers, or just coins, and they have a sign up to that effect, then they can do so."


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    #24
    cruizer101
    Registered Users Posts: 3,205 ✭✭✭cruizer101


    EmmetSpiceland wrote: »
    No one accepts €500 notes. And if you’d ever tried to “lodge” any into your bank account you’d find that a pain in the arse as well.

    I used to work in dunnes and we took in the odd 500 euro note, obviously did full counterfeit check on it but did accept it.

    500 are going to become rarer and rarer, they are no longer issued by banks so whatever is in circulation now is it.


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    #25
    Zaph
    Registered Users, Subscribers Posts: 47,274 ✭✭✭✭Zaph


    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

    The 200 and 500 notes were only introduced at the insistence of Germany, because German people have an innate cultural desire to hold their wealth in cash, particularly in large denominations. Before the Euro there were 500 and 1000 Deutschmark notes, which are roughly equivalent to 250 and 500 Euros respectively. One of the unforeseen impacts of having such large value Euro notes is that they became very popular with criminals as it was a lot easier to transport higher values of cash around in a smaller volume. As a result, in the newest series of Euro notes, the 500 has been discontinued, although the notes from the earlier series remain legal tender.


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    #26
    Ubbquittious
    Registered Users Posts: 6,177 ✭✭✭Ubbquittious


    Had a 100 not so long ago, one of the new design ones


    Lodging 500's and 200s not a problem. You get the odd eejit in a shop going 'uhh I'm not sure we can accept something that big' but I'm well used to hearing that now at this stage and you just bring it to the next place


    also, fcuk all this cashless society sh1te


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    #27
    ToxicPaddy
    Moderators, Business & Finance Moderators, Society & Culture Moderators Posts: 9,764 Mod ✭✭✭✭ToxicPaddy


    I remember seeing a sign in Tesco a few years back saying that all cashiers would not accept notes larger than €50 notes.

    Asked the cashier about it and she said it was just something to do with security and counterfeit concerns especially around Xmas.

    Not sure if that's still the case, but if a large retailer like Tesco won't accept them, there isn't much chance of smaller shops accepting them or having the cash to give change on them.


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    #28
    Ubbquittious
    Registered Users Posts: 6,177 ✭✭✭Ubbquittious


    Strolled into a quiet rural pub one day and bought a pint with a 100


    Got back 195 or so in change, handed the fella behind the bar back the extra 100. Would love to find out what would have happened to me if I decided to hold onto it


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    #29
    Church on Tuesday
    Registered Users Posts: 3,858 ✭✭✭Church on Tuesday


    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

    Did you bump into AvB by any chance?


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    #30
    Beasty
    Administrators, Social & Fun Moderators, Sports Moderators Posts: 75,285 Admin ✭✭✭✭✭Beasty


    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.

    So few people know what a £50 note looks like. Anyone handing one over in a shop will probably be treated with some suspicion

    I do remember the first time I saw a wad of £20 notes. I was working on the petrol pumps in the late 1970s when British actor Peter Gilmore (best known as James Onedin in the Onedin Line) came to get his car filled up and took a twenty out of his wad to pay


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    #31
    Victor
    Registered Users Posts: 78,241 ✭✭✭✭Victor


    To discourage robberies, shops don't like having a lot of money in tills. If €100 notes were common, they would need to have more change available.


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