Counterfeit Procedures for "Suspect" Bill

Question:

If we suspect a counterfeit bill presented for deposit by our customer are we: (1) Required to notify the customer? (2) Required to give the customer provisional credit if we are submitting the bill to the Secret Service?

Answer:

You are required to seize the bill and forward it to the United States Secret Service whenever you come into contact with it -- either over the counter, or within a deposit. You don't have to reimburse the customer but you should let him/her know of your actions.

First published on BankersOnline.com 2/13/06