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

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It is really bad that one of the notes withdrawn by you turned out to be counterfeit bill.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

The other day I read in News paper also that counterfeit notes were withdrawn from one ATM centre.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.

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.

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!

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.

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.

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.

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.

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.

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.