Is the $50 Bill Really Not Being Accepted Anymore? And How Would This Affect Your Wallet?

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“Close up on a large number of US dollars of different denominations, a 50 US dollar bill in the foreground.

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This rumor claims that the government is getting rid of fifties for good and thatbankswont accept it anymore.

Some people are even saying that banks have already stopped taking fifties.

So whats the truth?

Should you beworried about the fifties in your walletnow?

Not now, and not anytime soon.

Banks still accept them just like any other money.

The U.S. government hasnt announced plans to retire the $50 bill.

Its still being printed and remains legal tender, meaning it can be used for all transactions.

This is false, said Thomas Brock, CFA and contributor atRetireGuide.com.

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Banks and ATMs are accepting older $50 bills and will continue to do so.

All bills not just fifties are always accepted for their full value, no matter how old they are.

And there have been no plans announced for a new version of the $50 bill.

Some stores make their own rules about $50 bills.

Usually, they do this to protect themselves from counterfeit bills.

Instead of checking if big bills are real, its just easier to stick with smaller bills.

This has nothing to do with $50 bills going away or being worth less than their full value.

Store owners can choose what bills they accept, and thats always been true.

This notion originated from misunderstandings surrounding cash acceptance protocols.

If a store wont take your $50 bill, youve got plenty of options.

you’re free to stop by a nearby bank to break the bill into smaller ones.

Or just back up your fifties for places you know will take it.

Remember that a stores choice not to take fifties doesnt mean theres anything wrong with your money.

Its just that particular stores policy.