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Monday, June 11, 2012

Bank Gives Man Counterfeit Money, Refuses To Refund It!

This story from the Huffington Post is unbelievable. The bank itself, whose sole business is to deal with “money,” is not responsible for the fact that they provided their own customer with a counterfeit bill. No, in the United States of Banana Republic the banks are never wrong! It is your fault for somehow not knowing the bill was counterfeit. I mean this takes things to another level. So if a department store is selling fake Hermes bags is it the customers fault for buying it? This is so sick.

There is an even bigger takeaway from this. I think the primary driver in all of this is to discourage the use of cash. Remember the story about the Tennessee cop stealing the New Jersey man’s cash for no reason on the highway? This it to ingrain in people’s minds that cash is bad. That’s right serfs, be obedient little subjects and stay in your digital dollars.

Key Quotes:
Imagine withdrawing money from a bank and then finding out that the money is counterfeit and cannot be refunded.

Hagman withdrew $2,500 from his savings account at TD Bank in February, according to the Star-Ledger. Then he went to Bank of America to deposit the money, only to find out from the teller that one of the $100 bills was counterfeit.

He reported it to the Secret Service and went back to TD Bank to get a refund, but the supervisor said that was against the bank’s policy, since he already had left the bank with the cash. “I asked why a bank customer, me in this case, should have to serve as this bank’s ‘quality control officer,’” Hagman told the Star-Ledger.


1 comment:

Anonymous said...

well, this feeds into my suspicions regarding this problem.

i've been dealing with a "hometown/local" bank for more than 30 years. recently joe posted a warning regarding counterfeit bills and to look at the $50 denomination closly.

i cashed a check for $600 and didn't look closly at the bills until i got home. i've never had trouble with this bank in the past. when i did look i saw a $50 bill that didn't look right. i called the bank and was told in no uncertain terms "they are NOT responsible for handing out counterfeit bills. if we, as a customer, gets one of these bills we have to eat it. just a warning.

years ago i worked at a bank and we were trained to look for counterfeit bills. we didn't have all the tools they have today to spot this. we handled money everyday so we really could spot a counterfeit and we did. it didn't happen often but it did happen.

just beware of this bank policy so you won't get ripped off by your bank. don't leave until you count and examine each bill.