Ok, so I got some money out of an ATM (M&T bank) on Friday the 18th.  I was head towards Rochester, NY to go to a banquet and also to see if they still had a synthetic Remington 700 in 7mm rem mag.  I was counting my cash on the way when I noticed one of the bills looked a little funny.  It was too yellow, too smooth, no watermark and no 'USA TWENTY' strip.  I was surprised I actually got a counterfeit bill.  I tucked it away and finally got to the bank today (1/22) since yesterday was a holiday.  They confiscated the fake twenty, that's it.  They won't give me a real twenty in its place!  I was quite surprised.  They can hand out fake money with no repercussions?  So anyway, check your money when you get it, or not at all.  You don't want to know if you already have a fake bill because then it's your problem.  Kind of annoying.  Thanks for letting me vent!

That happened to a friend of mine.  She got over 200$ in fake bills that the teller gave her.  Then when she immediately questioned the money, the teller took it and refused to give her back legit ones.

Keving67

Hell, if you get a good one then send it to me and I'll give you $10 for it. I think it would be a cool souvenir. It has to be quality though, not something that was printed on a laser printer, I could do that.

Now, don't everybody email me at once  [:D]


What's the law about owning fake money, assuming it's marked counterfeit and not used to attempt to deceive anyone?

By the time I was done in that bank, the manager would be giving me $20 out of their own wallet to go away and quit making a scene.

Damn that is screwed up they will not credit you

edited to add It would be cool to have the bill as a souvenir but maybe you would need to have it encased in lucite? definately would be sketchy to posses

Dave,

No offense dude, but that is one of the stupidest things I've ever heard of someonde doing. Did you really think that your bank would give you a real $20 in exchange for a fake one ? I could see if a teller gave it to you and you pointed it out right away. But from an atm ? If you knew it was a fake you should have spent it somwhere that it wouldn't be noticed like a bar or convience store.

Well, that's quite a shock. I thought they knew what to look for and tested. I often see colored streaks on the paper for that purpose. Also whenever I get cash from an atm they are always brand new bills. Perhaps the guy that handles that particular one is using it to pass off the stuff?

It's probably a felony to posess counterfeit notes.  Not that I care if you collect them or not.  I don't have any.  My sister who worked retail caught some people passing funny money a few years back.  She got a nice reward from the store and a mention in the local paper.  I was never clear whether the people passing them were closely linked to the actual counterfeiter or not, but they were charged with a crime and the Secret Service came, etc.

I was really quite surprised they wouldn't do anything.  I don't think most people would risk the penalty of passing fake money just for $20.  This is also the only ATM I've used for over a month.  After hearing about Kevin's friend I'm glad it was only 20.  In hindsight, I wouldn't have turned it in.  Fun conversation piece, if nothing else.  It looked pretty good, too, I probably wouldn't have noticed if it was alone.  I also would have made a bit more noise at the bank, but the branch manager said he would look into and call later.  It was over the phone he said there was nothing he could do.  I had never heard of someone turning in counterfeit money before and felt people should know what happens.

The 700 was already sold, I'm just glad I didn't try to use it at the gun shop.  That would probably have made some headlines…

Phillyman: I did think they would exchange it for real since they gave me the fake, and for customer relations.  I do understand I can't PROVE it came from them, but it is the only place I get cash.  And according to Kevin, pointing it out to a teller doesn't work.

I do not believe that story as money in an ATM usually comes from the Federal Reserve.  If the bank loads the money themselves, they would precount it in a money counter that has the capabilities to detect counterfiet bills.

Personally, if someone off the street claims that my company gave them a fake bill, I would say they are full of it and confiscate the bill.

It is not uncommon to get counterfeit $20 bill from an ATM. I got one about 2 months ago, my wife got one about 7 months ago, one of my co-worker got 2 in one transaction about a month ago. In each case it was detected immediately and when taken to the teller they would confiscate the bill and will not replace it. Banks are required to retrive/confiscate ALL counterfeit bills but they have no responsibility to replace it with good bill.  

I've heard that there are more dollar bills in Russia than any other country outside of USA and that 10-20% are belived to be countefeit.  When the "new" $100 bills came out about 7 or 8 years ago, one of the first large shipment was to Russia to replace all the fake $100 bills banks had over there.  When I went to Russia in 1996 I found that private currency offices would give you about 5% better rate for the new bills compared to the old.  

From the Treasury Dept web page.
[url]http://www.ustreas.gov/usss/index.htm?money_receive.htm&1[/url]

KNOW YOUR MONEY
If You Receive A Counterfeit
Do not return it to the passer.

1. Delay the passer if possible.

2. Observe the passer's description, as well as that of any companions, and the license numbers of any vehicles used.

3. Contact your local police department or United States Secret Service field office. These numbers can be found on the inside front page of your local telephone directory.

4. Write your initials and the date in the white border areas of the suspect note.

5. Limit the handling of the note. Carefully place it in a protective covering, such as an envelope.

6. Surrender the note or coin only to a properly identified police officer or a U.S. Secret Service special agent.

My bank (Wells Fargo) told me that if they human being hand a counterfeit bill to a customer and the customer identifies it right there on the spot as a counterfeit bill they will replace the bill right there on the spot. I was told there is some "paperwork" involved, it is probably some sort of a variation of the US Treas. requirements.

If an ATM machine passed you the funny money then I would say you are shit out of luck.

If a human being teller passed me the funny money I would not leave untill I had real US Money in hand, nothing more, nothing less.

The money in an ATM comes from the Federal Reserve as does all money.



Who else would load the money?




Standard money counters do not have capabilities to detect counterfiet bills.

1951

First Miss World contest is held at the Lyceum theatre in London, won by Miss Sweden. John Paul Getty becomes the richest man. Zenith Radio Corp introduces cable television. Chrysler introduces power steering. First space flight by living creatures when US sends 4 monkeys into the stratosphere. Remington Rand launches the first commercially available computer, the Univac 1.

No, actually ATMs are serviced by independant companies, such as Brinks or Lommis-Fargo, etc.  They are responsibile for the sorting and replenshing with cash.  Other service providers, such as Diebold are responsible for the electrical and mechcanical operation of the ATM.  Then there is the issue of who actually owns the ATM, the bank or a 3rd party ATM service.

What about if the teller is a crook?.....exchanging the fake money for the real one and give it to your friend? while pocketing the real ones?.....The Bank might not know about it.  I have seen this type of con before.

Me too. Nobody gets away with stealing money from me. If they gave me a counterfit bill, they better exchange it for a real one.