Most of the paper currency in circulation in the U.S. is in $100 bills, accounting for 34% of currency volume and 82% of its value. Despite this, $100 bills are the least commonly used denomination due to a variety of factors. ATMs rarely dispense them, many retailers do not accept them, and cashiers are suspicious of them due to their association with criminal activities such as money laundering and tax evasion. This has led to calls to stop printing and recalling existing $100 bills, as they are primarily used by criminals.
Asking for $100 bills at a bank branch should be done with caution, as there are times when it is best to avoid doing so. Peak banking hours, such as busy mornings and lunch rushes, can result in longer wait times and potential frustration for both customers and staff. It is also advisable to avoid requesting $100 bills during times of cash shortages, such as after weekends or holidays, when the branch may be in the process of replenishing its cash reserves. Planning your visit during quieter periods can ensure a smoother and more efficient banking experience for everyone involved.
Banks are required to keep a certain amount of cash on hand, typically between 3% and 10% of their deposits. Depending on their current cash supply, the bank may not have any $100 bills available at a given time. Calling ahead before requesting $100 bills can help avoid disappointment and ensure that the bank is able to fulfill your request. Small banks may have less cash on hand than larger banks, so it is important to check ahead of time to see if they are able to provide the denomination you are looking for.
In summary, the $100 bill is the most common denomination in circulation in the U.S., but it is also the least commonly used due to various factors. Asking for $100 bills at a bank branch should be done with caution, particularly during peak banking hours and times of cash shortages. Calling ahead to see if the bank can fulfill your request is advisable to avoid any potential delays or inconvenience. Despite its prevalence in circulation, the $100 bill remains a unique and somewhat controversial denomination in the world of paper currency.
