Banknotes Unacceptable in Business

[Starmix]

That is right because a banknote is also part of a banking service, but I have no experience using or receiving a banknote. It is also not good to reject it right away. It is better to return it to the bank.

 

[aovurevu]

In my country Philippines, it is not allowed to have banknotes that are considered unfit and mutilated. We cannot accept these money because they cannot be used in business per se. How about in your country? Do you have this kind of concern about banknotes?

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Image Credit: primer.com.ph

It actually depends on the degree of mutilation here in my country, if I notice I can't spend such money too due to how mutilated it is, then I will have to reject it too to avoid making loss.

 

[Niyi Briggs]

It actually depends on the degree of mutilation here in my country, if I notice I can't spend such money too due to how mutilated it is, then I will have to reject it too to avoid making loss.

That is what happens in a country without a strong banking culture. When a country has a viable banking culture, they know that the notes would be accepted in the banks.

 

[eldavis]

Cause of their behavior i started selecting as well. There was a time i had to walk for a long distance due to this. I was given a bad note and i tried using it somewhere else, none of them accepted it.

 

[Springtime]

Some years ago, there are some fake HK$1000 banknote found in the market. In view of this, some businesses refused to accept $1000 banknote because they do not have the equipment to check if the banknote is authentic or fake.

 

[Smalto]

In my dear country, no matter how rough or mutilated the note may appear we are still going to accept it that way, except it has damaged beyond parchment or recognition, that will be the only reason why it will be rejected.

 

[eldavis]

In my dear country, no matter how rough or mutilated the note may appear we are still going to accept it that way, except it has damaged beyond parchment or recognition, that will be the only reason why it will be rejected.

Not in all places. I am from Nigeria, but over here, there are persons who do not mind, but majority of the sellers today usually refuse to accept them, i have had so many cases of money that i accepted being rejected by others.

 

[Heatman]

Some people will tear it and even use a seal tape on it then the note will look very rough that no one will like to collect it again. In that way, the person has lost an amount of money

It is very unfortunate that some people can be very careless the way they handle their currency and whenever you see that kind of money, you will not even have interest in making use of it.

 

[Bisolami]

It is very unfortunate that some people can be very careless the way they handle their currency and whenever you see that kind of money, you will not even have interest in making use of it.

That is why some people reject some notes because it is looking very rough and other people may not collect it so you should not risk yourself by collecting the money that you will not be able to spend

 

[Heatman]

That is right because a banknote is also part of a banking service, but I have no experience using or receiving a banknote. It is also not good to reject it right away. It is better to return it to the bank.

Everything is always return to the bank especially the Central Bank because they are the one in charge of printing of the banknotes in the first place.

 

[Bisolami]

Everything is always return to the bank especially the Central Bank because they are the one in charge of printing of the banknotes in the first place.

You are right but a lot of people may not want to collect it thinking that other people want to collect it but they have forgotten that the money will still go to Central Bank and they will collect the money at the bank no matter how it looks like as long as it is not fake