Warning -I received a counterfeit currency note in a bank![for Rs five hundred

@kalav56 (11503)
India
November 9, 2009 4:07am CST
I went down south to a faraway place and before shopping, I withdrew money from a bank.I did crosscheck the notes [checked the number of notes received] but did not go through each and everyone in detail.THe amount was big and normally we only count the notes for verification purposes and safeguard ..It was a big bundle and on the first day everything was fine.I had two days for some major wedding shopping and on the second day, one of the shopkeepers returned one "five hundred rupee ' note saying it was counterfeit.I was shocked . Nothing can be done but I thought I should warn my friends [especially the Indians] that we ought not to think that it is impossible in a bank. Today, a bank official also confirmed that while the chances are bleak in an ATM , it is not impossible in a bank.We need to ask them to scan the notes before receiving them, especially if it is a big amount.[Counterfeit notes are not easily discernible to the naked eye.] Have you had any experience like this dear friends? Others can take a warning from mine.Please share.
3 people like this
16 responses
11 Nov 09
It was shocking for me to hear about the counterfeit note from the bank .Ithink it will prepare us to be cautious in the future .We should thank you for the advice and I have passing this information to my friends and family.
@kalav56 (11503)
• India
12 Nov 09
That is why I started this discusson Visa. I have never had this bad experience so far and now I am studying this fake note in comparison to other genuine notes] ;we always never look too carefully at the regular one. THis has improved my awareness and I take it as a lesson for future.THere are some more notes left in that bundle and I am just keeping fingers crossed. I never knew this was ever possible esp. from a bank. We must check immediately and return the fake note then and htere in future.Who would have thought such a thing is possible?THanks for the participation.
@lelin1123 (15645)
• Puerto Rico
10 Nov 09
I had no idea you could end up with counterfeit money from a bank. That is so scary. So then you are out of that money. That is so not right! It didn't happen to me but I'm upset that they couldn't do right by you since it was the banks fault. Thanks for sharing your story to help others to keep a look out. I guess if I go inside a bank and get cash I will have to ask them to make sure its not counterfeit money.
1 person likes this
@kalav56 (11503)
• India
10 Nov 09
Exactly.That is the point of this discussion.I had never imagined thta this is possible in a bank and so I thought I should share the story.Thanks for the participation.
@paula27661 (15900)
• Australia
10 Nov 09
I have never been handed counterfeit notes before as far as I know. I usually withdraw from the ATM and it never occurs to me to check the cash; I shove it straight into my purse without much thought except that the amount is correct. I will take a good look from now on just to be sure!
1 person likes this
@kalav56 (11503)
• India
10 Nov 09
Yes Paula! Who would have imagined this! This was the first time for me too.Hope it is the last.THanks for the particpation.
1 person likes this
@lindiebiz (1014)
• Canada
10 Nov 09
This is too bad, you should let the bank know about this when you go there again, probably they will agree to change it for you. However, they may not agree to because you are supposed to cross check before you leave the counter
@kalav56 (11503)
• India
10 Nov 09
Exactly. Secondly it si not even my usual bank.It was drawn from some other bank and so I just can do nothing about it.THanks you for the participation,.
@Fulltank (2896)
• Philippines
10 Nov 09
The counterfeit money must have be done very neat for a bank not to detect it. I remember that a documentary about counterfeiting during WW2. Germany had counterfeit France money to the very little detail that it is very hard to distinguish the real from the fake. Later on they had found out that the only difference is a piece of line that can be seen in a magnified view. A not so straight line turned to be a perfect straight. And thats the only difference in it. Today with the sophisticated way of doing money, the counterfeit also had find better ways to counterfeit money. I knew that I was too a victim of this as I really don't knew whats the difference between the two.
1 person likes this
@kalav56 (11503)
• India
10 Nov 09
That would have been a bad experience for you. As things get better and better ways and means of cheating are also improving. THaks for the resposne.
@zandi458 (27954)
• Malaysia
9 Nov 09
I used to receive counterfeit money when I was still running a restaurant in a port area. It was a busy place with many foreign laborers working and has no time to scan notes that I received daily. Only when I banked in that I found out it was fake when the cashier returned the notes to me. As I have good connection with the bank I has not being penalized as it is an offense in my country to be in possession of counterfeit money even though you claim that it is not your fault. My bank manager told me that they do receive fake money almost everyday through ATM banking. The machine can never detect fake money banked in. It is important to check each piece of money that one withdraw from the bank.
@kalav56 (11503)
• India
9 Nov 09
That is a terrible experience for you Zandi-to run a restaurant and be cheated like that.Here they say thta ATM S are more reliable. God knows! THanks for theresponse.
@anne25penn (3310)
• Philippines
9 Nov 09
Counterfeit money is not new here in my country either, especially with the Christmas season coming up. I have never received any counterfeit money and I hope that I don't. These days its hard to lose money in any way.
1 person likes this
@kalav56 (11503)
• India
9 Nov 09
This is a rare occurrence anne25penn. You won't get it .Don't worry.Thanks forthe response.
• India
9 Nov 09
Hi Kala, Its so difficult you know for the layman like us to identify fake notes. We are solely dependent on banks for the supply of notes and I think its they who should take some extra responsibility and check all notes leaving their premises…I know it’s a huge task and may not be feasible. I have not faced any situation like this maybe because I seldom take 500 notes from the bank…I’ll always insist on 100 notes, that way if there’s a fake, at least my loss with be less!
1 person likes this
@kalav56 (11503)
• India
9 Nov 09
True.THis was my first bad [hopefully last] experience with a bank . Who would ever imagine this isn't it?THanks Sudipta for the response.
@mimpi1911 (25455)
• India
9 Nov 09
I am sorry to hear that Kala! Anyway, I know for sure that it wasn't a deterrent. Hope you had fun time while shopping and the experience as in counterfeit 500 rupee note only made you more worldwise. Thanks for sharing this with us Kala. I feel, there is very little we could actually do about it. As a common person, besides the normal checks, what else can we do! When banks can miss it anyone on earth can! However, we should be careful for that pays off always. As for you, I can understand the difficulty in checking because it was a fat amount. Anyway, I am sure you would be more careful now and so am I.
1 person likes this
@kalav56 (11503)
• India
9 Nov 09
Definitely it was no deterent.[I menatlly set it off against the marginal discount I received for paying in cash and felt happy thta I was still better off with some additional 500, 1000 rupees. THat is the way one has to go about it isn't it!We can do nothing about it and so I just felt that it were not worse.Hereafter I would opt to buy it with my credit card.Apparently cash purchases entitled us to a marginal discount and that was lost in this counterfeit note.I could have used my credit card which I did later.
@Buchi_bulla (8299)
• India
9 Nov 09
The other day I read in News paper also that counterfeit notes were withdrawn from one ATM centre. Normally speaking it should not happen. But certain counterfeit notes are just like the original notes and it is very difficult to find them out. Any way here also the principle buyer beware only applies. We must check the notes before leaving the place.
@kalav56 (11503)
• India
9 Nov 09
Exactly.I was aslos told thta this news was in a Chennai newspaper--thta out of eight million there were a few notes .Anyway, I thought we would be warned against this in future.THanks for the response.
@dpk262006 (54032)
• Delhi, India
9 Nov 09
Hi Kala! It is really bad that one of the notes withdrawn by you turned out to be counterfeit bill. You see it is very difficult to convince your bank, if you approach them at a later date, that you got a counterfeit Note(s) from their ATM. Also, at some of the banks, if you show them counterfeit Note, they will forfeit it and will not return you it to you. Thanks for sharing your experience and making us alert on this account. BTW, Many a times I also withdraw money from ATMs, however, to my good luck, I have not come across such an incident, so far. Have a great day! Deepak
@kalav56 (11503)
• India
9 Nov 09
Hi Deepak! Thanks for kickstarting the discussion. THe problem is less in an ATM[VIRTUALLY NIL] because the notes are sent through a scanner. I withdrew froma bank in person.Normally I withdraw from an ATM or use my credit card.This time, I withdrew money from hte bank using a cheque.
1 person likes this
@dpk262006 (54032)
• Delhi, India
9 Nov 09
It is all the more disturbing that you withdrew the amount from a bank and you got some fake Note(s) in the bunch. I think when we go to any bank, we suppose that it is the safest place to get genuine currency notes, if bank also start offering us fake currency notes, whom would we rely upon.
1 person likes this
@kalav56 (11503)
• India
9 Nov 09
It was unfortunate .We think thta banks are totally reliable. Who would evr imagine thta I will have to scrutinise each one meticulously before leaving the bank.!It was a lesson.
@balasri (26577)
• India
16 Nov 09
I say 'thousands' when asked for the denomination at the teller counter. May be till the day a smart guy starts printing the 1000 rupee counterfeit note suppose.
@kalav56 (11503)
• India
19 Nov 09
tHAT IS TRUE.My husband also told me after I came back thta it would have made sense to get thousands especially when there is massive shopping.I did not think of it at that time.Anyhow we always pay some price for learning.I put it down to that.
@rg0205 (2638)
• Hong Kong
10 Nov 09
It strange you'd receive a counterfeit from your bank but it's not impossible, obviously. If the bank has a security breach they should replace the note that was disbursed to you. Thankfully, this type of stuff has never happened to me.
@kalav56 (11503)
• India
10 Nov 09
It would have been done if I had seen it immediately and returened it.But here theree is no guarantee. THanks for the response.
@drannhh (15002)
• United States
9 Nov 09
Mercifully I have not! When working in a shop once my friend got a fake $20 USD bill but she was smart and noticed there was something funny about it and called the police. The next day I bought one of those counterfeit checking pens. Now our bills are embedded with a strip that you can see when you hold the bill up to the light and I think it is harder for people to make fake money. I did once take a bad check for over $100 USD and never did recover that money.
@kalav56 (11503)
• India
10 Nov 09
tO RECEIVE A BAD CHECK IS A HORRIBLE THING.Glad that it was hte oly bad experience.Thanks for the response.
@scheng1 (24949)
• Singapore
9 Nov 09
Is there any way to verify the real notes? I know that Singapore currency is very secure, since the current notes in used are plastic, and have many features that are so obvious and hard to duplicate. Some currencies have a hard line down the middle which is hard to copy too. I wonder how any foreigner can differentiate between real and fake currency for your country.
@kalav56 (11503)
• India
9 Nov 09
Why talk of foreigners/We ourselves would find it difficult. THe maximum aperson can do is [if eh directly withdraws from the bank instead of ATM] IS TO MAKE A REQUEST FOR THE NOTES TO BE SCANNED PRIOR TO ISSUE.
@jpso138 (7844)
• Philippines
9 Nov 09
Luckily I was not able to experience a situation like receiving any counterfeit bills or fake money. But just lately, I have heard about a news directly from the Central Bank regarding these fake money usually circulating during the Christmas season. So it is really important to be aware and be careful.
@kalav56 (11503)
• India
9 Nov 09
It is during the festive season thta people indulge in spending; It was a lesson for me and thta is why iw anted to share this with you all.THanks for the participation.