They probably think it won’t matter. I doubt that their profit/loss statement will show an impact. But the bank I cheered on for dispensing dollar bills in denominations less than the 20s now only does 20s. I live in a $5 world. I live there by choice. Many live there by necessity. It is easy to feel cut off and left behind. Want some cheery news to come out of this? I can’t find it, unless you own the bank.

“At least one bank is not ignoring a segment of their customers and their needs.
…
We’re witnessing a fracturing of society between oligarchs and the rest of us…” – From 5 And 10

Woe and ow.

No problem. Take that $20, walk into the branch. Ask the teller for change. – As long as you have an account with them and they’re open. If you have the time, of course.

It is inevitable. Coins are considered trivial by some. (How many old devices needed a quarter to turn a screw to open a hatch?) The penny is gone? Fine. Nickels? Same, at least for me. Dimes? Kinda on edge, but willing to accept it going. Quarters? There’s a sign that carry a bunch of coins are a nuisance rather than a representation of value. 

$1 bills are less significant thanks to inflation. $2 bills were never more than a curiosity. 

$5? $5 gets me into concerts and dances, becomes a small but meaningful tip. $5 may not buy lunch, but it gets close. 

I live in that $5 world.

Many do not.

Cashless is king! Unless you’re running a small business and banking fees are eating up your plastic profits. But many do live cashless lives. Money clips are popular, but not for carrying money. They carry cards. In a world run by $50 and $100 purchases, $5 bills are nuisances. 

Deciding for the ATM to only dispense $20 bills demonstrates a disconnect with people who are doing real work, not work in cubicles and offices. How many people have lost touch with how much they are spending because signing the receipt (with a scrawl that isn’t a legible signature) for $20 takes as much effort as signing for $200? Financial literacy education was rare twenty years ago. Now? Can you imagine most folks trying to balance a checkbook?

I guess I spent most of my life being naive. I thought companies sold goods and services in exchange for an asset. It may still be true, but businesses are aiming for cash flow, not necessarily an exchange. Some businesses, like banks, are less interested in serving their clients and are more focussed on extracting value from them. 

It’s always been that way? Yes, and no. The shift is subtle and significant, in my opinion. 

Assuming the world runs on big bills and flowing electrons works for millions, but not for all. For me, services like banks and hospitals should work for all, not excluding anyone. 

But like I mentioned above, services are businesses now. Customer needs are secondary or tertiary to profit margins.

Am I griping? Yeah, I guess so. For me, it is like watching a friend, or at least an acquaintance, become enamored of alcohol; they caught a taste of more so they want more, more, more. I guess I am more sad than griping. 

I live in a community. I’m a full-timer, so I get to see the tourism places profit during the season, then try to squeak by the rest of the year. Cheaper food and cheap entertainment become heightened in importance.

Today is Friday. I usually spend my afternoons at a local cidery. I can’t drink what they serve (doctor’s orders), but I can relax and dance. $5 for the dance. <$5 for a cup of tea. Maybe a grilled cheese sandwich (gluten-free, of course). ~$7

Dinner and dancing in The Big City spends more on that in gas and parking. The trip goes on a card.

I bid the era goodbye. I’m lucky enough to have enough cash to soon have a local account. I am lucky enough to have enough time during banking hours to occasionally walk to say hello to a teller and ask for some $5s. I feel sorry for those who live in that $5 era by necessity, not by choice; who may be working enough jobs that they can’t access a teller; who have to get change by buying something with cash and hopefully getting the bills, and maybe coins, that they need.

I wonder how long it will take the banks to get rid of the tellers, too. Probably already happening, just not here, yet.