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Bank Says $1,400 In Counterfeit Bills Weren’t Counterfeit After All

Friday, February 1, 2013 - 5:12 AM
This is another reason to avoid $100 bills. Even if they aren't counterfeit, you may still experience a lot of hassles. The Consumerist reported the problems a Massachusetts man first experienced:
WBZ-TV in Boston spoke to the man who said he cashed his paycheck at Sovereign Bank on Saturday and pocketed the $1,800 in cash as well as a receipt.

Then he took his business to Citizens Bank where he has an account and tried to deposit the money. That was a no-go, after the teller said 14 of his bills were counterfeit. He claims those are the same exact $100s he got from Sovereign Bank, so he shouldn’t be held at fault.

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It turns out those $100s weren't counterfeit. The Consumerist has a new report:
a rep for Sovereign reached out to Consumerist to say that federal investigators had checked out the 14 $100 bills and verified that they were the real deal.

Read more

I did not know that the counterfeit detector tools that banks use could give this many false positives.
4
Ken TuminKen Tumin5,441 posts since
Nov 29, 2009
Rep Points: 123,664
1. Friday, February 1, 2013 - 8:55 AM
Even $50 bills are suspect in most retail establishments where I do business. The clerk either holds it up to the light or uses one of those counterfeit bill detector pens to check the authenticity. Some gasoline stations I've encountered while traveling won't accept $100 bills in payment and they have a sign posting that info at the front door.
4
ShorebreakShorebreak2,364 posts since
Apr 6, 2010
Rep Points: 12,582
2. Friday, February 1, 2013 - 11:10 AM
I TRAVEL THE COUNTRY AND SEE MORE AND MORE PLACES NOT ACCEPTING 100 & 50 DOLLAR BILLS.  MY ISSUE IS SINCE IT IS LEGAL US CURRENCY AND WE ARE IN THE US --THEY SHOULD BE MADE TO ACCEPT IT.

NEXT IT WILL BE THE 20 -THEN THE 10 -- THEN WE WILL ALL BE FORCED TO LOOK LIKE IDIOTS USING PLASTIC FOR EVERYTHING.
3
diamondxdiamondx63 posts since
Jan 19, 2011
Rep Points: 151
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