Mutilated Money

Posted By: Anonymous

Mutilated Money - 06/23/04 06:48 PM

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.
Posted By: ABrown

Re: Mutilated Money - 06/23/04 06:58 PM

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.
Posted By: P*Q

Re: Mutilated Money - 06/23/04 07:00 PM

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.
Posted By: Anonymous

Re: Mutilated Money - 06/23/04 07:57 PM

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.
Posted By: Anonymous

Re: Mutilated Money - 06/23/04 08:36 PM

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!
Posted By: Anonymous

Re: Mutilated Money - 06/23/04 09:33 PM

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.
Posted By: Anonymous

Re: Mutilated Money - 06/27/04 04:12 AM

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.
Posted By: Still Developing

Re: Mutilated Money - 06/28/04 05:14 PM

http://www.frbservices.org/Cash/DamagedCash.html
Posted By: Still Developing

Re: Mutilated Money - 06/28/04 05:34 PM

http://www.moneyfactory.com/section.cfm/8/39
Posted By: Andy_Z

Re: Mutilated Money - 06/28/04 06:14 PM

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.
Posted By: Elwood P. Dowd

Re: Mutilated Money - 06/28/04 06:19 PM

Actually, for $1.25, I would have just thrown it away.
Posted By: Snowqueen

Re: Mutilated Money - 06/28/04 08:46 PM

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.