Banks Giving Out Counterfeit Bills Now?
We read that they Wachovia was in trouble because of their $8 billion dollar loss in the second quarter, but now are they giving out counterfeit bills at a branch in Florida? Are things really that bad for them?
Garcia said Wachovia is ripping him off and has alerted the sheriff’s office, the Secret Service and the media.
“Ten (bills) in one transaction to come from one bank, that is definitely unusual,” U.S. Secret Service representative Jim Glendinning said.
“But is it possible?” Pipitone asked.
“Remotely, yes it is,” Glendinning said.
Glendinning said he was not surprised the Bank of America caught the counterfeits but wondered how a Wachovia could pass the bills unless a bank employee was in on it, Pipitone reported.
Imagine going to your bank, asking to withdraw $1,000, and then finding out that the cash your bank gave you is counterfeit….and you are out $1,000 because the bank will not own up to it, even though it has happened before to them. Good times.
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7 Comments so far
If you take a counterfeit bill to the bank in a deposit, they will ask you to replace it with a real bill and then report the counterfeit to the Secret Service.
That’s why cashiers use the counterfeit pens because they don’t want to take a fake bill since the onus is on the business when the deposit is short.
Used to drive me insane having to make a second trip to the bank just to drop off an extra $20.
Yea, but what do you do if they give you counterfeit bills? I guess we should all be carrying those pens around!
I guess carrying a pen would be good, as long as you didn’t get them for Wachovia. There’s are obviously malfunctioning.
Good one Gary….so very true.
I recently accepted $1500 in cash from the sale of an item that I had listed on craigslist. I was kicking myself for not getting a counterfeit bill detector pen prior to the transaction. I then deposited the money at my credit union. I expected the teller to check each one of the one hundred dollar bills, but to my surprise she simply counted them out twice and stuffed them in the drawer. I sighed in relief!
Wow. I sometimes wish I had one of those pens (that worked) at the library. Because people occasionally pay the larger fines in large denominations. So I’ll take a $100 bill if a) the fine is well over $50, b) I have change, and c) there’s less than 1/2 hour until closing (I’m allowed to ask for a closer amount if I can’t make change or won’t have any change left…because my cash drawer is really pathetic at the start of the day. libraries.).
I know I wouldn’t be blamed, but it’s certainly awkward to go through the whole checking for a watermark, looking at the paper, etc. All I know about counterfeiting is what I’ve seen on tv or read about in books when I was a kid. It’s not something one prepares for in a library career.
Wow… that stinks. Another reason not to use cash. wow.