Re: Law regarding exchanging damaged bills?

Article View: misc.consumers

Article #9250

#9250

From: Joshua Putnam
Date: Sat, 14 Oct 2006 04:54

22 lines
2221 bytes

In article <1160798425.208057.144930@f16g2000cwb.googlegroups.com>, 
robert.nicholson@gmail.com says...

> I was quite surprised that on this occassion a merchant (manager)
> didn't know the law and secondly that two banks at first tried to say
> they couldn't accept something that by law they are required to accept.

http://www.secretservice.gov/money_damaged.shtml says the *government* 
will accept and replace damaged currency, but does not note any 
requirement for private businesses to accept it.

Federal Reserve Bank standards permit banks to deposit damaged currency 
only if more than 50% remains *and* the remaining note is in good enough 
condition to survive high-speed processing equipment.  If it can't 
withstand automated processing, you mail it back to the Treasury to be 
inspected and replaced.

-- 
josh@phred.org is Joshua Putnam
<http://www.phred.org/~josh/>
Braze your own bicycle frames.  See
<http://www.phred.org/~josh/build/build.html>

Technical Details

Message-ID: <MPG.1f9a0d6a4fe805899896ce@news.zhonka.net>

Path:

arc1-ca.pugleaf.net!g2news2.google.com!news3.google.com!border1.nntp.dca.giganews.com!nntp.giganews.com!local01.nntp.dca.giganews.com!nntp.zhonka.net!news.zhonka.net.POSTED!not-for-mail

References: <1160798425.208057.144930@f16g2000cwb.googlegroups.com>

Show Full Headers

Complete Article Headers

X-Google-Thread: 107518,8ef1cb4301f141c3
X-Google-Thread: 10e835,8ef1cb4301f141c3
X-Google-Attributes: gid107518,gid10e835,public
X-Google-Language: ENGLISH,ASCII-7-bit
Path: arc1-ca.pugleaf.net!g2news2.google.com!news3.google.com!border1.nntp.dca.giganews.com!nntp.giganews.com!local01.nntp.dca.giganews.com!nntp.zhonka.net!news.zhonka.net.POSTED!not-for-mail
NNTP-Posting-Date: Fri, 13 Oct 2006 23:54:40 -0500
From: Joshua Putnam <josh@phred.org>
Newsgroups: misc.consumers,chi.general
Subject: Re: Law regarding exchanging damaged bills?
Date: Fri, 13 Oct 2006 21:54:43 -0700
Message-ID: <MPG.1f9a0d6a4fe805899896ce@news.zhonka.net>
References: <1160798425.208057.144930@f16g2000cwb.googlegroups.com>
X-Newsreader: MicroPlanet Gravity v2.50
Lines: 22
NNTP-Posting-Host: 67.183.39.200
X-Trace: sv3-OLrQdAbbFetk/pkREelPmNPQQdzIjrqr9+Dt6gKXoy3nOG2ddafYSwgfcf1TtUiru9nyODCd2fd9jAa!x5IvaLOYFfqsQcXNbnn0/Lho/ckjb8cJHCBOicC7HFlWhm3OnVwFrAjqEdBDUymj8ST6z7QlRAa9!/dWBufu2G2Zd4pcIYRM=
X-Complaints-To: abuse@zhonka.net
X-DMCA-Complaints-To: abuse@zhonka.net
X-Abuse-and-DMCA-Info: Please be sure to forward a copy of ALL headers
X-Abuse-and-DMCA-Info: Otherwise we will be unable to process your complaint properly
X-Postfilter: 1.3.32

Reply to Parent Message