Question about currency

[MissCroft]

I have an American $100 bill and both my bank and a currency exchange place won't take it simply because I spilt something on it. I think it was baby oil or possibly makeup that I had in my purse.

They both assured me that it is not counterfeit but that they can't take because it is damaged. I am not desperate for money but it is making me very angry that it is MY money and is legal tender. My bank (TD) said "Travel to the U.S. and spend it there".

I've been thinking about closing my account with TD. They've been a mess lately and they don't hire competent tellers. When I was trying to exchange the money, the teller looked at my recent transactions and commented about how my last two transactions were at bars. A giggly millenial bank teller does not have any right to comment on where I spend my money.

My rant for today!

 

[password88]

See if you can open up a US account and deposit that $100 in.

 

[Big Sleazy]

That is complete BS. I've returned and deposited money that had scotch tape on it. And the fact that they've admitted that the bill is in fact real. I would tell them to either take the deposit. Or close the account now and you want the money in cash. Banks don't actually have the cash on hand that they claim. Most Banks panic if you ask for more than $10,000.00 in cash. Why ? Fractional Reserve Banking. Watch how they panic when you ask for your money in cash.

And if you've opened an account recently. Read the liability section of your agreement. Technically they don't consider your cash as belonging to you. In case of a bankruptcy. You're deposits belong to the Bank and you are an unsecured creditor.

 

[bluebro69]

The problem is that American currency is NOT legal tender in Canada. It would be accepted anywhere in the US but here you're at the mercy of banks or merchants who may or may not accept it. It sucks, I know.

I'd sell it, probably at face value, to someone who is travelling to the US, or save it for my next trip there.

 

[MissCroft]

I've had the account for 17 years and have a safety deposit box there and they were rude to me. That's unacceptable in my eyes. I'm leaving them for good.

 

[danmand]

I've had the account for 17 years and have a safety deposit box there and they were rude to me. That's unacceptable in my eyes. I'm leaving them for good.

What did you expect from a bank?????

 

[malata]

I've had the account for 17 years and have a safety deposit box there and they were rude to me. That's unacceptable in my eyes. I'm leaving them for good.

had same thing happen with my us of a account. i asked to speak with manager and got what i wanted. just try sounding like a pissed off tom or jack

 

[AshleyTaylor]

Take it to a currency exchange spot they are always more helpful than the bank thats what I have always done with American bills -- or a store will accept it if you don't mind losing out on the exchange difference

 

[curvluvr]

Just save it on your next trip to the US and spend it there.
Canadian bank tellers haven't used enough US money to be comfortable accepting a foreign bill.
Many bank tellers are stupid in my experience. They have screwed me over because of their incompetence more than once.

 

[Grimnul]

I believe some banks have ATMs that accept USD deposits, I know CIBC has them at some locations. If that doesn’t work, save it, get a bunch of bills, and deposit them all at once and hope they don’t notice the one damaged bill in the stack.

 

[out4fun]

Very likely that you have clients the buy USD on a regular basis. Sell your bill to one of them.

 

[kherg007]

Very likely that you have clients the buy USD on a regular basis. Sell your bill to one of them.

This is a good idea. Another might be a casino w an automated machine. The one in niagara will give a great rate on going from USD to CAD. Or send a pal who is headed down there, or some other casino.

 

[blueray]

Bank tellers used to be able to do a lot of things for you, not anymore. Being a bank teller now is the equivalent of working the counter at Tim Horton’s. You need to bypass the teller to get anything done. Ask to speak with the manager in charge or the bank manager himself. They will take your soiled tender to keep your business. You shouldn’t have to do this but this is banking in 2020.

 

[TeeJay]

Totally misleading title as there is no "question" in the rant lol

Anyways assuming it is a legit bill and you care to exchange it the US site is here
https://bep.gov/services/currencyredemption.html

 

[John Henry]

Go to the casino and put it in one of their money machines or give it to someone that you know is going there . My brother had a few American dollars . He cut himself and got blood on some of the bills . A few places wouldn't take the money .

Like you said , change banks . Tell them to go fuck themselves . Period .

 

[wigglee]

I'll exchange it at par!

 

[escortsxxx]

I ve heard weird things like this before. When I backpacked issues like this came up frequently.

 

[jazzbox]

That is complete BS. I've returned and deposited money that had scotch tape on it. And the fact that they've admitted that the bill is in fact real. I would tell them to either take the deposit. Or close the account now and you want the money in cash. Banks don't actually have the cash on hand that they claim. Most Banks panic if you ask for more than $10,000.00 in cash. Why ? Fractional Reserve Banking. Watch how they panic when you ask for your money in cash.

And if you've opened an account recently. Read the liability section of your agreement. Technically they don't consider your cash as belonging to you. In case of a bankruptcy. You're deposits belong to the Bank and you are an unsecured creditor.

Yes and no, if a bank became insolvent then technically depositors would get in line behind secured creditors and wait for their money. But, the banks pay premiums to the depositor insurer (CDIC), and they will quickly payout your deposit up to $100K. If you have more than that in an account then you are out of luck for amounts above that. That is why people split large deposits among different institutions.

Sounds like Ms. Croft is getting the run around. Go to a credit union (e.g Meridian) and open up a US dollar account with that $100 and then transfer all your accounts to them. Their service is quite good and more personal than a big bank. Oh, and credit unions in Ontario have higher deposit insurance coverage $250K).

 

[K Douglas]

This puzzles me. I'm shocked a currency exchange place won't even take it. I guess the only thing you can do is take a trip to Buffalo and spend it at Walden Galleria

Regarding the bank teller. Clearly a very unprofessional interaction. Personally I like TD Bank have had good dealings with them in the past. The worst are CIBC and Scotiabank so if you are going to move banks I'd avoid those two. Good luck MissCroft.