Check Your Bills Alabama Because Some Will Not Be Accepted

More and more, society is indeed becoming cashless.

“Roughly 41% of US adults said they don’t pay for any of their purchases in a typical week with cash, a sharp increase from the 29% and 24% of those who said the same in 2018 and 2015, respectively,” said the Pew Research Center.

Lagrada said, “While all currency is technically legal tender, there has been an effort lately to clean up the state of dollar bills in circulation in the country.”

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It appears the clean-up efforts started in October, and “The Bureau of Engraving, the Secret Service, and the Advanced Counterfeit Deterrence (ACD) Steering Committee have banded together to create and launch an initiative that would now require both retailers and financial institutions to stop accepting mutilated dollar bills,” said Lagrada.

Do You Own Any Mutilated Dollar Bills?

Mutilated currency refers to banknotes that have been damaged that only half or less of the original note is intact, or their condition raises doubts about their value.

“Currency notes can become mutilated in any number of ways,” said The Bureau of Engraving & Printing (BEP).  “The most common causes are fire, water, chemicals, and explosives; animal, insect, or rodent damage; and petrification or deterioration by burying.”

The Director of the BEP has the final authority concerning redemptions for mutilated currency submissions. Click here for more details on submitting a request for mutilated currency examination.