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Spotting Counterfeit Money Bank Give Out Fake $100 Bills

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Author Previous TopicReplies: 6 / Views: 2,978Next Topic  
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yingyang's Avatar
Canada
1823 Posts
 Posted 02/05/2014  8:34 pm Show Profile   Bookmark this topic Add yingyang to your friends list Get a Link to this Message Number of Subscribers
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bobby131313's Avatar
United States
24161 Posts
 Posted 02/05/2014  9:18 pm  Show Profile   Bookmark this reply Add bobby131313 to your friends list Get a Link to this Reply
Tellers usually have to pay for counterfeits found in their drawer, so if they spot it, they get rid of it on the next customer.
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westernsky's Avatar
United States
7620 Posts
 Posted 02/06/2014  01:20 am  Show Profile   Bookmark this reply Add westernsky to your friends list Get a Link to this Reply
"Tellers usually have to pay for counterfeits found in their drawer, so if they spot it, they get rid of it on the next customer."

I don't think so.

If a teller knowingly passes a counterfeit bill to a customer there is a good chance they WILL lose their job for that fraudulent action. Knowingly passing counterfeit currency incoming or outgoing is a crime. (Key word is "knowingly")

If a teller follows the banks established verification procedures regarding cash deposits they cannot be held liable if a bill later turns out to be counterfeit.





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bobby131313's Avatar
United States
24161 Posts
 Posted 02/06/2014  11:49 am  Show Profile   Bookmark this reply Add bobby131313 to your friends list Get a Link to this Reply
You're right, they may lose their job for it, but they'll just play dumb.

Trust me, I've known enough bank employees to know how it works in reality.

I knew a corporate executive for Commerce bank and she told me some interesting stories. For example Commerce bank would deliberately process your transactions overnight in a specific order to maximize overdrafts.
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westernsky's Avatar
United States
7620 Posts
 Posted 02/06/2014  3:55 pm  Show Profile   Bookmark this reply Add westernsky to your friends list Get a Link to this Reply
Yeah... They used to process highest $ debits first to get the account negative. Once it was negative, the many smaller debits were just like "sopping up the gravy". It was not unusual to see people get hit for 35$ NSF fees on 3$ debits. (And they wonder how the banking industry got such a bad name!)

I think the oversight agencies started cracking down on them a few years so they have kinda backed off. Anyway, the Feds found bigger fish to fry when the housing fiasco came along a few years later.
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GaryN's Avatar
Canada
293 Posts
 Posted 03/07/2014  12:42 pm  Show Profile   Bookmark this reply Add GaryN to your friends list Get a Link to this Reply
thanks for the link. Always nice to keep up on these things
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melodyandzoe's Avatar
United States
69 Posts
 Posted 03/09/2014  07:21 am  Show Profile   Bookmark this reply Add melodyandzoe to your friends list Get a Link to this Reply
Thanks for sharing!!
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