General Question

ibstubro's avatar

What happens to your bill if the counterfeit marker shows that the bill is a fake?

Asked by ibstubro (18730points) November 21st, 2015

I’ve never seen a bill show as counterfeit.

Do you get to keep it and give them a different bill?
Do they confiscate the bill, and if so, who has that authority?
Do they call the law immediately?

Observing members: 0 Composing members: 0

26 Answers

SQUEEKY2's avatar

My father received 2 fake bills when he sold a motor home a few years back,they were Canadian hundred dollar bills.
The Bank informed him that the two were fake and they would keep them,they were interested into where him got them but it went no further than that..

Seek's avatar

But your dad was out that $200, right?

johnpowell's avatar

It depends. We would get some fakes at the theater and I didn’t care so I would just hand the bill back and ask if they had another that was real.

At a bank they would probably be more concerned and contact law enforcement.

If you co-founded Apple and try to tip with legit two dollar bills at a casino they call the Secret Service.

SQUEEKY2's avatar

Yeah @Seek he was out the two hundred which really pissed him off.
The bank couldn’t have cared less.

ibstubro's avatar

That bites, @SQUEEKY2! I’d be mad as hell.

Thanks for not ass/u/me-ing, @Seek.

Yeah, I did actually know that, @ragingloli. Several years ago when we started our auction business I inquired about the pens and the answer kept me from ever buying one.

I would probably ask for a different bill, too, @johnpowell. Problem is, this question occurred to me at the local Goodwill. All transactions are digitally recorded. If you buy something there using a credit card every day for 15 days, and have the same clerk, they are still required to ask for photo ID.
I wonder what that clerk is required to do if the pen says fake.

johnpowell's avatar

@ibstubro :: Odd, I have only been asked for a ID when using a card a few times in 20 years. I have read in a few places that VISA is pretty strict about them not requiring ID as long as the card is signed. They want it to be seen as a premium brand and treating customers as criminals doesn’t help. 99.99% of the transactions are legit and their fees are 1%+ so they can cover the loss and still rake in buckets of cash.

filmfann's avatar

A friend of my Mother withdrew $200 from the bank, and went to go buy something. When she handed over a twenty, the business told her the bill was counterfeit. She took the bills back to the bank, and went to the same teller, who remembered her. The teller said 5 of the bills were counterfeit, and confiscated them. My Mom’s friend asked for them to be replaced, and the bank manager told her that was not bank policy.
She called my Mom, and asked what she should do. My brother was sitting with my Mom, and he said “My God! Call the police! The bank is handing out fake money!”
My Mom’s friend went back to the bank, and told them she was going to do this. Suddenly, bank policy changed, and they replaced the phony bills with good ones. Guess they didn’t want to be on the news.

DrasticDreamer's avatar

If a large bill showed up as fake when I was trying to buy something, I’d snatch it from the person’s hand and make a run for it, trade it in for change in lesser denominations and get them off my hands as quickly as possible. That would piss me off so bad if it wasn’t replaced by the bank with real money. Screw that.

jca's avatar

@filmfann: I wonder if the bank’s defense could be that they had no proof (or the lady had no proof) that the hundred dollar bills she had were from the bank. Unless they had the serial numbers of the bills they handed her, which is not likely, there’s no saying those bills she had weren’t something else.

It is a good story, though, and funny the bank changed it’s tune!

elbanditoroso's avatar

Just yesterday I was in a Goodwill store (see that post) buying silverware, and the woman at the register used her marker across my $20 bill. I hadn’t seen that happen in years.

ibstubro's avatar

Our Goodwill is very strict. They will marker a $5, and you cannot use a credit card without showing photo ID. PERIOD. I was very annoyed about the photo ID thing until one of the clerks told me that everything was on camera and if someone from corporate happened to be watching that transaction, they could be in big trouble if they didn’t check ID.
Contrast that to Walmart where I can check myself out, and if the total is under $100, not even sign for it.

Good thinking, @filmfann! I love that story. I bet I’d get along with Brother. If the bank doesn’t have a system in place where they can prove they didn’t give out fake money, they should make good on it, IMO, @jca.

I would NOT snatch and run, @DrasticDreamer. Odds are increasing that you could end up dead.

DrasticDreamer's avatar

@ibstubro No worries, I wouldn’t actually attempt it. It would just suck to lose that much money.

ragingloli's avatar

The only instances that my money was checked, they used a special scanner to test the specific safety features on the bills.

ibstubro's avatar

It surprises me that banks don’t have those scanners to take the fake money out of circulation in-house, @ragingloli.
But then again, that might cause them to be out the money.

Stinley's avatar

I worked in a shop (in the UK) and we had an ultraviolet light that we held the notes up to. The material the notes are made of (linen?) doesn’t glow but normal paper that fake notes are made from would light up. Some notes had a pattern that glowed – as a safety feature. We used to have training sessions about identifying fake notes. I only ever had a couple and just gave them back to the customer. We also had to make sure the notes were still current. In the Uk the notes are changed and updated. The old notes are no longer legal. I had a Canadian in the shop who had a load of £20 notes from a visit she’d made 20 years previously. I couldn’t accept them and told her to take them to a bank to see if they would exchange them

ibstubro's avatar

I think that’s kind of BS that the currency expires, @Stinley.
I winder if they were able to cash them at the bank.

Seek's avatar

Could you imagine the uproar in the US if they suddenly decided to make all old currency invalid?

Mattress-hoarders would positively flip the fuck out.

ibstubro's avatar

Yeah, imagine if all the money that hadn’t passed through a bank in, say, the past 10 years was suddenly trash.
I know someone who claims to have found a stash in the 6 figures that took decades to accumulate.

Seek's avatar

Lucky punk. I need to find a stash like that.

ibstubro's avatar

No, shit.
I know for a fact that he found in the mid 5 figures. The rest might be BS, but still….

Stinley's avatar

Bs that they would go out of date or just a bad idea? They do go out of date! And it keeps the notes less able to be counterfeited

ibstubro's avatar

Ah. I see your link states: “All withdrawn Bank of England banknotes remain payable at face value for all time, which will be exchanged for new banknotes at the Bank of England in London. See the Exchanging Withdrawn Banknotes page for more information.”

So they just start making the new and destroying the old. That’s probably a good, albeit expensive, idea.

Seek's avatar

I assumed as much. However, again, the US conspiracy wagon train would be all over that. “Every bank has video cameras and they’re recording who comes in to exchange money! It’s all a trick to keep track of who has how much cash!”

Tropical_Willie's avatar

OKAY @Seek they will not be watching me.

ibstubro's avatar

Well, and there’s the $10,000 per-transaction limit, @Seek. And Dennis Hastert was stupid enough to believe in that little farce.

You can only hide money if you have an obscene amount of it.

Answer this question

Login

or

Join

to answer.

This question is in the General Section. Responses must be helpful and on-topic.

Your answer will be saved while you login or join.

Have a question? Ask Fluther!

What do you know more about?
or
Knowledge Networking @ Fluther