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Can businesses really refuse to take cash anymore? For premium support please call: 800-290-4726 more ways to reach us
Banknotes can always be redeemed at the Bank of England even if discontinued. To meet the legal definition of legal tender, the exact amount due must be tendered; no change can be demanded. [42] Maundy money is legal tender but may not be accepted by retailers and is worth much more than face value due to its rarity value and silver content.
If you put $300 a month into your retirement account, assuming a modest 9% return, in 30 years, you’d have $490,707.14. And that doesn’t even factor in any possible employer match ...
The government can seize money directly from a bank account. One way this happens is when there are large numbers of cash deposits that government investigators suspect are structured as a way to avoid deposits exceeding $10,000, since deposits greater than that amount must be reported to the federal government. But it can happen that ...
Impoundment is, more generally, the act of detaining something such as animals or personal property due to a legal dispute. In roughly this sense, the President detains funds in the treasury rather than spending them as appropriated.
You can cash a check at any bank and credit union as long as you meet its requirements. If you don’t have an account with the bank, it may refuse to cash the check unless the payer is an account ...
If an individual can steal the money before it is incinerated, the effect is the opposite of burning money; the thief is enriched at the expense of the rest of society. One such incident at the Bank of England inspired the 2001 TV movie Hot Money and the 2008 film Mad Money .
For example, if you'd had $100,000 in an S&P 500 index fund in 2009, that money would be worth around $850,000 in 2024 if you reinvested all your dividends. Recoveries happen, as well as recessions.