Travel Tip of the Day: Don’t Travel with Ripped Bills - (2024)

FAQs

What can I do if I have a ripped bill? ›

Individuals, financial institutions, and businesses may contact the Department of the Treasury's Bureau of Engraving and Printing (BEP) if they are in possession of mutilated U.S. currency, meaning that the currency has been damaged to the extent that one-half or less of the original note remains, or its condition is ...

Under regulations issued by the Department of the Treasury, mutilated United States currency may be exchanged at face value if: More than 50% of a note identifiable as United States currency is present.

(KHON2) — If you accidentally ripped a dollar bill, you may not be completely out of luck. But what do you do with the mutilated moolah? According to the U.S. Department of the Treasury, commercial banks will exchange your damaged, or “unfit” currency, for another, after some checks are made.

Many stores and merchants will not take torn or drawn-on bills, and even vending machines struggle to take heavily wrinkled ones. The good news is that even if a bill is torn in half, you can tape them together and exchange them at a Federal Reserve bank for fresh notes, as long as the serial numbers match.

The Bank replaces damaged banknotes, including those torn or burnt, with new banknotes, according to the proportion of the part of the original banknote remaining, provided that both front and reverse sides of the banknote are maintained.

We've all probably had some damaged money in our wallets or pockets. In some cases no one will even take it from you. Often times, even financial institutions won't accept cash if it's too damaged. This is because the Federal Reserve does not accept deposits of mutilated money from banks and credit unions.

If you violate laws related to coins and currency, you could be charged with a federal crime and could face the potential for jail time or other serious penalties. You could also be left with a criminal record.

You can use your cash as is if a corner is missing. If it's ripped into two pieces, tape them back together and take the bill to a bank, where they will make sure the serial numbers on both sides of the note match and give you a new one.

Under section 333 of the U.S. Criminal Code, “whoever mutilates, cuts, defaces, disfigures, or perforates, or unites or cements together, or does any other thing to any bank bill, draft, note, or other evidence of debt issued by any national banking association, or Federal Reserve bank, or the Federal Reserve System, ...

The Bureau of Engraving and Printing (BEP) redeems mutilated currency as a free public service.

Can you still cash a check if it's ripped? ›

Suppose the rip is minor and does not affect any of the information on the check, such as the bank account number or routing number. In this case, you may be able to cash it without any problems. However, if the rip is more significant and covers up any vital information, the check cashing place may not accept it.

"If it's more than 51 percent of the bill that is there, then I can exchange it for a good bill," said Verona-Donnelly. Comerica Bank, Bank of America, Chase, Citibank and Wells Fargo say they'll exchange your damaged bills if more than half is intact.

Most bills will remain intact in the washer and dryer. But while a wash cycle may make your money look untainted, it nonetheless ruins the bills; hot water can damage security features, and detergents change the way cash reflects light, which currency-sorting machines detect. Banks shred washed money.

Bank of America does not distribute or accept mutilated currency of any kind. Does Bank of America exchange Iraqi dinar or Vietnamese dong currency?

The BEP's Mutilated Currency Division provides free mutilated currency redemption services for individuals and institutions, such as businesses and financial institutions, in possession of United States mutilated currency notes.

You can use your cash as is if a corner is missing. If it's ripped into two pieces, tape them back together and take the bill to a bank, where they will make sure the serial numbers on both sides of the note match and give you a new one.

If you have damaged or mutilated currency, or need currency replaced, contact the Bureau of Engraving and Printing. If you have currency you suspect is counterfeit, contact your local Secret Service Field Office. For questions about coins, please contact the U.S. Mint.

The Bureau of Engraving and Printing (BEP) redeems mutilated currency as a free public service.

You can visit any public or private sector bank and get your old and damaged currency notes exchanged as no bank can refuse to exchange the notes. However, there are certain guidelines the Reserve Bank of India (RBI) has laid down for the exchange of such notes.