Answers About Currency
Select from the following questions about counterfeit bills, converting currency, mutilated bills, and depositing coins.
- When I got home, I discovered that I had received a counterfeit bill from the bank. When I tried to return it, the bank would not reimburse me. What can I do?
- How can I redeem my mutilated (damaged) currency?
- How do I convert/exchange foreign currency/money?
- The bank will not accept my unrolled coins for exchange of currency. Is this legal?
When I got home, I discovered that I had received a counterfeit bill from the bank. When I tried to return it, the bank would not reimburse me. What can I do?
Unfortunately, once a customer leaves the bank premises, it becomes a factual dispute. The customer can claim the bank gave out the counterfeit bill; the bank can claim that the customer, after leaving the premises, obtained the counterfeit bill elsewhere.
The United States Secret Service has exclusive jurisdiction for investigations involving the counterfeiting of U.S. obligations and securities. For more information, visit the Secret Service Counterfeit Division page.
How can I redeem my mutilated (damaged) currency?
Currency is considered mutilated if
- less than 50 percent of a note remains and
- special examination is required to determine its value.
This type of currency may be taken to a bank for redemption or sent by registered mail to the Bureau of Engraving and Printing.
Department of the Treasury
Bureau of Engraving and Printing
Office of Currency Standards
P.O. Box 37048
Washington, DC 20013
For more information, please contact them directly at 1-202-874-8888 or visit the Secret Service Know Your Money page.
Currency is not considered mutilated if
- more than 50 percent of a note remains,
- it is identifiable as United States currency, and
- it does not require special examination to determine its value.
These notes should be exchanged through your local bank. They will be processed by the Federal Reserve Bank.
How do I convert/exchange foreign currency/money?
See if your bank provides this service. Or you may want to convert your foreign currency at the airport.
The bank will not accept my unrolled coins for exchange of currency. Is this legal?
Generally, a national bank can set its own internal policy as to whether it will accept or exchange unrolled coins for currency.