Bank Gave Counterfeit Bills, Couple Says This raises an interesting question: If you are handed a counterfeit note by a bank teller you can refuse it before walking away from the teller's window. But what can you do if you receive a counterfeit note from an ATM? I don't see how you could prove the counterfeit came from the ATM so you would most likely be stuck (or so it would seem to me).
Several years ago my bank was discovered to be dispensing counterfeit $20 through the ATM. It was eventually determined that it was an inside job, and they caught the employee. (Note: This is when I still lived in the US.)
I somehow missed that link on the top. Whoops... Those are newer styled notes too, that's interesting. Are those ones before or after the BEP added the ribbons, watermarks, etc.?
I have a fake $20 that i got for free but nothign else - that i know off its funny how the bank issued a refund of $40, but wont issue a refund of $1000 ... hmmmm
You don't really know how similar the story is. If the person with the $40.00 noticed it while they were still in the bank I would expect the bank to refund the money. Once the money leaves the bank, I think it is a different story. I received a counterfeit $100.00 bill from my bank that I took to Vegas where the nature of the note was discovered. I do work for the bank and know many of the bank's officers including the president. I was still out the money. Their policy is that once it is outside the bank, it is the customers problem. If this were not the policy, every person who received a counterfeit note in commerce could claim they got it from their bank. The bank would then be left holding the bag.
I fully understand that. So I guess anyone that receives a counterfeit bill from an ATM is simply out of luck - unless the ATM happens to be inside the bank.
Well, I never personally got a counterfeit note in all my time in the US, but I have gotten counterfeit Toonies up here. Take that for what it is.
I guess they mean: If you get the money out of an ATM that is either inside or "attached" to a physical bank location and you report the incident immediately to a teller or bank official, the bank could err on the side of trusting the customer (in the interest of Customer Service, plus the fact that you have evidence that yes, you got the money via the receipt the ATM spatout and the ATM camera footage) and exchange the notes for real ones. If you get the notes at an ATM that is say, at the Mall or a store, too bad, so sad, suck salt.
