What Happens With Damaged Money

Now I don’t about you but whenever I would get a bill with tape, or I would tear a bill, I would always try to make that somebody else’s problem. By spending or getting change for it, as fast as possible.

And before you, what about all those big DR that got money eating by rats, and mole, the answer is, most of those people would had a problem justifying that money.

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Take it to the Local Bank and Deposit It

Now this works if your bills have minor tears, is still legible

It can have coffee stains or een written on it

People love to write on money for some reason

One of these days I’ll call the number and the back and see what was so importnant



My advice:

Each bank their own policy and depending on the teller you get that could also affect the process

But its much more easier to want to deposit the money instead of an exchange

This way its faster



The Bill is heavily damaged

For exmaple its filled with mole, burnt marks or even tours in half

The answer is, you could still redeem it and get your money back

I remember this guy nipsey hustle said he burried money and got filled with mole so he lost a bunch of it



But obviousl that money was from selling the stuff, so he couldn’t report it



But here I the process and the rule:

The money has to have more than 50% of itself

Beucase if they accepted 50% then people would just double their money overnight obviously

But if it is less than 50% but there is evidence of burn marks they will accept it



Who will accept it :

Bureau of Engraving and Printing along with a letter explaining the damage

According to wikihow



Coins

You have to submit them to the US Mint and they will decide



Here is something that I recommend

Get yourself a fire proof bag to keep your belonging in

That’s what I did when I had to keep a lot of cash on hand

But for the most part, people that honestly damage their money can redeem it for new notes more than often

Article : https://www.wikihow.com/Get-Damaged-Currency-Replaced





Take your money to be replaced at your local bank if damages are not too extensive (minor tears, stains, soilage, etc.)



Send any bills that have been extremely mutilated (burns, chemical stains, extreme tears, etc.) to the Bureau of Engraving and Printing along with a letter explaining the damage.



Submit damaged coins to the U.S. Mint for possible reimbursement.

Deliver your damaged money either in-person or send it in through the U.S. Postal Service.

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I'm an Accountant but I'm not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

Видео What Happens With Damaged Money канала TommyBryson