Plastic Money

[55Mercury]

Coming to a bank machine near you.

No, not credit cards, this...

Canada launches anti-fraud plastic banknotes | Crave - CNET

I wonder how they'll hold up in a washing machine.

:?)

 

[IdRatherBeSkiing]

Coming to a bank machine near you.

No, not credit cards, this...

Canada launches anti-fraud plastic banknotes | Crave - CNET

I wonder how they'll hold up in a washing machine.

:?)

So they are doing all this work for a bill which nobody will accept? When was the last time you could go anyplace but a bank to cash one?

 

[55Mercury]

I wouldn't think Canadians won't accept them. I mean, they're not Americans after all.

Geez the US couldn't even get the yanks to accept a $1 coin, for crying out loud. Talk about no faith in their system!

:?P

 

[IdRatherBeSkiing]

I wouldn't think Canadians won't accept them. I mean, they're not Americans after all.

Geez the US couldn't even get the yanks to accept a $1 coin, for crying out loud. Talk about no faith in their system!

:?P

They do use them. We have got them. Maybe they unload it on Canadians. Of course the Canadian banks won't take them as US currency. Or maybe now that its slipped below par they will.

You have found Canadian retailers that take $100? I always see a sign: "No bills over $50". Sometimes even "No bills over $20".

 

[TenPenny]

So they are doing all this work for a bill which nobody will accept? When was the last time you could go anyplace but a bank to cash one?

I don't understand your comment - are you saying that nobody ever uses bills?

 

[IdRatherBeSkiing]

I don't understand your comment - are you saying that nobody ever uses bills?

Almost no retailer of business will accept a $100 bill mainly due to risk of counterfits. Everytime I get a $100 bill, I need to go to the bank to convert it to 20s.

 

[55Mercury]

Almost no retailer of business will accept a $100 bill mainly due to risk of counterfits. Everytime I get a $100 bill, I need to go to the bank to convert it to 20s.

I think that's the whole point to these new notes... They're supposedly harder to counterfeit!

 

[IdRatherBeSkiing]

I think that's the whole point to these new notes... They're supposedly harder to counterfeit!

I agree. The bank is continually making it tougher. Yet nobody is running out to take down their 'no $100' signs since the old ones are still legal tender.

 

[Mowich]

I agree. The bank is continually making it tougher. Yet nobody is running out to take down their 'no $100' signs since the old ones are still legal tender.

I find this rather strange as most businesses in this area have machines that can check the bills - have had them for years now and we don't have any signs around refusing to accept any bills at all.

 

[IdRatherBeSkiing]

I find this rather strange as most businesses in this area have machines that can check the bills - have had them for years now and we don't have any signs around refusing to accept any bills at all.

I know the McDs here have the machines as well, yet most of the ones I have been in also say no $100.

 

[Cliffy]

Almost no retailer of business will accept a $100 bill mainly due to risk of counterfits. Everytime I get a $100 bill, I need to go to the bank to convert it to 20s.

The local hardware store owns the building I live in and I pay my rent at their cash register. I always pay in $100 bills. There are other places I use $100 bills too, but I live in a small town and people here all know me. In a city, I can see where it could be a problem - just about everybody is anonymous.

 

[Liberalman]

So they are doing all this work for a bill which nobody will accept? When was the last time you could go anyplace but a bank to cash one?

The old hundreds will be destroyed so and the new fiftys will be coming out soon so if you want to carry lots of twentys the plastic ones will be accepted

 

[Kakato]

I was haveing a cold one with the boss yesterday and talking about his trip to australia next week,his girlfriend is on a teacher exchange so he go's there often but anyways he showed me the plastic currency they have their and it looks allmost the same as paper and is a lot tougher.Harder to counterfeit,last longer and doesnt come out in a little green wad if you accidentaly wash it in your jeans.

 

[lone wolf]

I know the McDs here have the machines as well, yet most of the ones I have been in also say no $100.

It discourages those kind folk with masks and weapons who think there might be a hundred bucks or so readily available in the till.

 

[Kakato]

When I go through Tim hortons every morning I allways get a big spiel when all i want is a double double or two.So yesterday when they asked how I was paying I told them with a toonie,a loonie,a quarter and 3 pennys.

 

[Durry]

Canadian & US are probably a few of the larger economies that do not use plastic money.
Australia & NZ have been using it for many years.

It's odd, a number of years ago we were told by the Lib government that it would be too expensive to use plastic money, now it seems, it's cheaper to use plastic money... Go figure!!

 

[Bar Sinister]

I came across something a bit more advanced than plastic money and amazingly it is being used in places like Kenya. It involves using a cell phone to transfer money from one person to another. As such, no bank account is needed. Instead the money is stored on a cell phone and is transferred by the user to another cell phone. A password is required to access the account so if the cell phone is lost or stolen the money is still safe.

Mobile Money Revolution Aids Kenya's Poor, Economy : NPR

Unlike most Canadians I don't have a cell phone, but if this service became widespread I would probably get one. It would certainly simplify international travel. Who would have expected Kenya to lead the world in technological innovation? It just shows that the world is moving much faster and in more areas than most people imagine.

 

[karrie]

So they are doing all this work for a bill which nobody will accept? When was the last time you could go anyplace but a bank to cash one?

They are doing all this work precisely because no one will accept the others because they're too easy to forge.

 

[IdRatherBeSkiing]

They are doing all this work precisely because no one will accept the others because they're too easy to forge.

But as a retailer if you say you accept $100, you must accept older style easier forged bills as well which makes you on the hook for $100 if the bill is faked. Perhaps they will say plastic $100 only? Not sure. If I was a retailer, I would not take any bill above $20. Realistically I would suspect most of the transactions are credit or debit nowadays anyways.

 

[karrie]

But as a retailer if you say you accept $100, you must accept older style easier forged bills as well which makes you on the hook for $100 if the bill is faked. Perhaps they will say plastic $100 only? Not sure. If I was a retailer, I would not take any bill above $20. Realistically I would suspect most of the transactions are credit or debit nowadays anyways.

Actually, as a retailer, you're not supposed to refuse ANY legal tender, so what would be the difference between saying you'll accept no $100 bills, or saying you'll accept only new ones?