Target and Walmart Stores in New Jersey, New York and Pennsylvania Now Restricting Cash Purchases

Did you ever think all your debit and credit cards would be on your phone?

How about paying with those cards just by waving your device over a terminal?

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It's not uncommon for us to use the self-checkout lane and have the entire transaction on touch screens.

It's some pretty high-tech stuff that proves that we truly are in the digital age.

According to Clover, about 30 percent of Americans don’t carry any cash, and 76 percent of shoppers that do carry some money keep less than $50 in their wallets, with nearly half having less than $20.

I always like to have at least $50 in cash on me, just in case.

Target and Walmart have been adjusting the checkout process, surprising many shoppers.

For example, coupons can no longer be used to earn cash back, and store employees cannot override the register if a transaction is blocked.

Another change has to do with cash.

Target and Walmart are not cutting off cash transactions altogether. That would be madness.

Instead, they are safeguarding themselves against fraud.

Effective immediately, any bills $500 and larger won't be accepted at these retailers.

If you're like me, you didn't even know $500 bills were still a thing.

The U.S. Treasury has stopped printing them, but they're still in rotation. It seems that counterfeit bills are still being passed.

Damaged or "mutilated" bills are also no longer accepted at Target and Walmart.

According to AS USA, a bill is mutilated if:

As you continue your holiday shopping, remember that Target stores don't accept:

• Foreign checks and currency
• Mall certificates and chamber bucks, except at some stores
• Money orders
• Cashier's checks
• Personal checks
• Business checks
• Merchant gift cards, except Starbucks gift cards