In our day and age, cash transactions are becoming less and less common. Where there are so many different ways to pay now such as credit/debit, apple pay, crypto, and many other forms, paying in cash can almost seem taboo.
If you happen to have 100$ bills on you, will Gamestop accept them? Gamestop will accept 100$ bills. Expect the store employees to check your 100$ bill for authenticity as a way to combat receiving counterfeit bills.
With any store, we recommend that you call them first to ask whether or not they will accept 100$ bills. Each Gamestop can be run differently and you may run into one that will not accept large bills.
Do Businesses Have to Accept 100$ Bills?
Although a 100$ bill is legal tender, there is no law that says a business must accept coins or cash as a form of payment.
This means Gamestop does not have to accept 100$ bills. They can choose to accept only up to 20$ bills if they wanted to.
Each Gamestop location may be different when it comes to accepting 100$ bills. Although they are the same company, they are ran by different management teams and employees.
Certain Gamestop locations may choose to accept 100$ bills, while other locations will refuse them and only take bills under 50$.
At the end of the day, all money is considered legal tender, but private stores have the choice on whether or not they have to accept is as a form of payment.
Why Do Most Businesses Not Accept 100$ Bills?
Risk of Counterfeit Bills
One of the reasons why many businesses do not like to accept 100$ bills is pretty plain and simple. Since 100$ bills are the highest dollar bill available in circulation, this means that they are often the most counterfeited.
Over the years, almost all the bills have changed at least one time. Many of the changes made to the bills are to help with counterfeit protection.
The Federal Reserve has taken measures by creating new designs of the US paper money. Adding in new lines, watermarks, logos, and even physical textures to their bills have helped to combat counterfeit money.
Ability to Give Change to Customers
Another reason many businesses do not like to accept 100$ bills is because it limits their ability to give change to their customers. When breaking large bills, businesses must provide change to their customers.
If a majority of customers use 100$ bills to pay for services or items, many businesses will run low on change to give their other customers throughout the day.
Not being able to give out change when a customer pays with small bills can be detrimental for a business.
They can may lose out on sales if they have to decline a transaction due to not having a sufficient amount of change when the customer pays.
For the most part, Gamestop will be able to take your 100$ bills. You may run into the occasional store that will not accept bills larger than 20$ or 50$, but this is pretty uncommon for a Gamestop since many of their items can add up fast to over 100$.
Paying by means of paper money is slowly becoming less common. In this digital age of ours, many payments are made by credit/debit cards, digital wallets, apple pay, and more. Paying with digital forms of currency almost always provides a smoother and safer transaction for both parties.
If you plan on paying at Gamestop with a 100$ bill, it would be beneficial to first contact the store you will be shopping at to make sure they will take 100$ bills as a valid form of payment.