NYC Businesses, Banks & ATMs Will Not Accept These Specific Dollar Bills

I think we’ve all had to tape up a dollar bill after accidentally ripping it, crossing our fingers it’ll be accepted when we hand it over. And though in most cases it does so long it’s in one piece, an initiative by the Bureau of Engraving and Printing (BEP), the Secret Service and the Advanced Counterfeit Deterrence (ACD) Steering Committee is clarifying what can be accepted…

U.S. businesses, banks and ATMs have been advised to not accept specific dollar bills that fit the “mutilated” category.

What is considered “mutilated” currency?

Money is considered mutilated if “one-half or less of the original note remains,” or damage is so that the value of the currency is uncertain.

Mutilation of money most frequently occurs from fire, misuse, chemicals, burial, insects or rodent damage.

What dollar bills will still be accepted?

All seven denominations of U.S. dollar bills will still be accepted so long as they aren’t deemed mutilated. Even dollar bills that are no longer produced but remain in circulation, like $500, $1,000, and $10,000 bills, will still be accepted in proper condition.

I have a mutilated bill. What can I do with it?

People can submit an examination for redemption request if they have mutilated currency in their possession.

As stated by the BEP, redemption at full value of mutilated money is possible if:

1. Clearly more than 50% of a note identifiable as United States currency is present, along with sufficient remnants of any relevant security feature; or
2. 50% or less of a note identifiable as United States currency is present and the method of mutilation and supporting evidence demonstrate to the satisfaction of the BEP that the missing portions have been totally destroyed.

Mutilated money is only being accepted in-person at the Washington, DC facility.

Learn more about mutilated money and possible redemption on the BEP website.

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* This article was originally published here