The $50 and $100 bills that are not accepted in any store in the country: What to do if you have some

Though many consumers use credit or debit cards to make purchases, the federal government continues to improve the security of physical currency to prevent false bills from entering the country’s money supply. One of the methods is the redesign of currency to force those looking to make counter-fit bills work a little harder. Adding details to bills can ensure that there are more ways to verify the authenticity of the currency.

The bills that retailers do not have to accept

Though, there have been reports that new rules will force companies to refuse “mutilated” bills, this has always been the case. According to the Federal Reserve, private businesses can develop their own policies as to whether or not they “accept currency or coins as payment for goods or services.”

“Private businesses are free to develop their own policies on whether to accept cash unless there is a state law that says otherwise,” reports the US central banks.

Exercising their power under the law, many private businesses do not accept currency if it is ripped or torn.

What are mutilated bills?

According to the US Treasury Department, a bill “which has been damaged to the extent that one-half or less of the original note remains, or its condition is such that its value is questionable” are classified as mutilated. “The most common causes are fire, water, chemicals, and explosives; animal, insect, or rodent damage; and petrification or deterioration by burying,” reports the federal agency.

What if you have some of these bills?

If you have some dollars that fit the bill, you will need to get in touch with the Bureau of Engraving and Printing directly, as they will need to authenticate your bills and will provide you with all the necessary information to redeem them. O

nce the authentication process has been completed, a check will be issued to you for the value of the mutilated bills you sent their way to be examined. No one engaging in this process should assume they will receive their new bills quickly with the Treasury Department explaining that it can take anywhere from three months to three years.

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