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#203492 - 06/23/04 06:48 PM Mutilated Money
Anonymous
Unregistered

I just got back from lunch to find an envelope delivered to me by a teller that has $1.25 in it that is mutilated.

I am in Security and Compliance, but I don't know what to do with this. I thought that tellers knew....Apparently not.

Can you help me.

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General Discussion
#203493 - 06/23/04 06:58 PM Re: Mutilated Money
ABrown Offline
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Joined: May 2001
Posts: 279
Texas
Our head teller sends it back to the Fed. But you have to follow their restrictions on how to send it back - it has to be in certain amounts, and strapped or bagged.

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#203494 - 06/23/04 07:00 PM Re: Mutilated Money
P*Q Offline

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Joined: May 2001
Posts: 8,387
Somewhere
Quote:

Our head teller sends it back to the Fed. But you have to follow their restrictions on how to send it back - it has to be in certain amounts, and strapped or bagged.



Ditto, we ship it back to our armored car carrier that "houses" our money and they tell us how to ship to them and they will in turn ship to Fed.

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#203495 - 06/23/04 07:57 PM Re: Mutilated Money
Anonymous
Unregistered

The fact that you have $1.25 leads me to believe some/all of the mutilated money is in coin form. I've never dealt with the fed directly, but I know they don't deal with coins. Coins are issued by the treasury department or someone.

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#203496 - 06/23/04 08:36 PM Re: Mutilated Money
Anonymous
Unregistered

Quote:

The fact that you have $1.25 leads me to believe some/all of the mutilated money is in coin form.




Or else someone cut up a dollar bill into fourths and she only got one part!

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#203497 - 06/23/04 09:33 PM Re: Mutilated Money
Anonymous
Unregistered

I agree with the above. We send ours to the Fed. We don't deal with coin, though. If someone brings in a coin that is in bad enough shape that it would be consideded mutiliated, we tell the customer that we won't accept it.

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#203498 - 06/27/04 04:12 AM Re: Mutilated Money
Anonymous
Unregistered

Mutilated coins must be sorted by type. Then after reaching so many pounds this can be sent in. Though shipping is charged by weight and could be more than the melt down profit! Advice, give it all back to the customers.

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#203499 - 06/28/04 05:14 PM Re: Mutilated Money
Still Developing Offline
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#203500 - 06/28/04 05:34 PM Re: Mutilated Money
Still Developing Offline
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Joined: Mar 2002
Posts: 199

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#203501 - 06/28/04 06:14 PM Re: Mutilated Money
Andy_Z Offline
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Joined: Oct 2000
Posts: 27,216
On the Net
Everyone missed the root cause of the problem.

Quote:

I just got back from lunch to find an envelope delivered to me




Any time you leave your desk things will end up there that no one else will deal with. The proper way to handle this is to wait until someone else goes to lunch and to put it on their desk.
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AndyZ CRCM
My opinions are not necessarily my employers.
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#203502 - 06/28/04 06:19 PM Re: Mutilated Money
Elwood P. Dowd Offline
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Joined: Aug 2001
Posts: 21,939
Next to Harvey
Actually, for $1.25, I would have just thrown it away.
_________________________
In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.

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#203503 - 06/28/04 08:46 PM Re: Mutilated Money
Snowqueen Offline
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Joined: Jun 2003
Posts: 2,289
dreaming of a warm beach......
Quote:

Everyone missed the root cause of the problem.

Quote:

I just got back from lunch to find an envelope delivered to me




Any time you leave your desk things will end up there that no one else will deal with. The proper way to handle this is to wait until someone else goes to lunch and to put it on their desk.




LOL!!! How true. I was thinking the exact same thing.

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