1996 series dollar bills not acceptable?

Friend of mine had a bad experience with a BDO branch. They refused to accept 1996-series dollar bills which he had just withdrawn from a neighboring BPI branch.

%@^!? Can a bank just do that? Not recognize certain years of currency?

Comments

  • KuyaDannyKuyaDanny Moderator PEx Moderator
    Were the bills rejected because of the issue year, or because they were suspected counterfeit?
  • rationalrational Member PEx Influencer ⭐⭐⭐
    Hi KD! Long time no see!

    Just because of issue year daw. Kasi daw their clients don't want to accept them so naiipon lang sa kanila. Very weird behavior for one of the largest banks in the country.
  • KuyaDannyKuyaDanny Moderator PEx Moderator
    What can I say? Fill in the blanks: B u _ l _ h _ t!

    Are they saying only BDO FCDU clients are discriminating enough to care about when their cash was printed? Yabang naman nila. Tatanggapin ng Fed pero BDO client hindi?

    Besides, a bank has ways of mobilizing excess currency, even US dollars. Kung naiipon lang sa kanila ang 1996, eh di ipahiram nila sa ibang bangko. Labo.

    I think I know the history of this fear - the Fed transitioned to the new design $100 bill in 1996 to combat counterfeiting, so people might have been led to believe that a lot of 1996-dated bills are fake and are still circulating. But that was 15 years ago. The guys making tose bills should have been busted by now.
  • delanodelano Mercy In You PEx Influencer ⭐⭐⭐
    Experienced the same thing... kahit sa common money exchange in Malate, they won't accept it too. Buti na lang 2 or 3 bills lang, so I told them to exchange it to a lower value (-5 yata). The reason, according to them, is that the middle man won't accept those bills.
  • rationalrational Member PEx Influencer ⭐⭐⭐
    I wonder if the US Embassy knows about this nonsense. Anyway, tinanggap rin ng BDO yun dollars ng friend ko after some arguing. Money changer I can understand but BDO?!
  • mazdamazdamazdamazda Member PExer
    Very weird behavior... it must not be a manager's prerogative only as you can complain with the BSP about that.

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