I have worked in a bank for over 20 years and know that damaged bills can be accepted and sent back to the Federal Reserve Bank. Bank of America knows this but refuses to help out their own bank customer. SHAME ON BANK OF AMERICA!
My bank won't accept bills that are dirty. Covered in mud, mildew, or animal leavings. Safety concerns for their employees. Perhaps this was her problem.
Ever see the documentary ‘Sicko’ by Michael Moore? He helped people get insurance approval for things HIGHLY NECESSARY by doing the same thing. Going public
Or CHASE, they refused to cash a personal ck drawn from their bank and their customer because they sd I wasn't a member and refused to open an acct, I complained to the manager, they ended up cashing the check, but they charged me $15.00, "Non member fee".
@@Kenny49ERSI did and stop banking with them because back in 2004 to 2008 they charged me life insurance $15 monthly and $15 service fee for the account I had with until I went to the bank put a stop to the fees but I never got my money from them 🤔🇺🇸
I used to work at Wells and I'm my district if you literally have two matching serial numbers we can accept it. Moral of the story don't keep your money in dirt...
@@pedalingprospector2007 ehhh I'm not a millionaire like most so I just keep it there to pay the bills. All banks are essentially the same. Unless you are a multi millionaire then you should choose a private bank that has excellent customer service.
You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life
Thanks for continuing updates I'd rather trade the stock market as it's more profitable. I make an average of $42,500 per week even though I barely trade myself.
@zammmerjammer Yes, *_Voila_* !! Or, alternatively *_VIOLA_* ! And, yes. I do know that a VIOLA is a string instrument. Just a little bit of harmless fun.
I used work as a bank teller during college. The bank can absolutely accept the damaged bills and send it back to the federal reserves for reimbursement and the bills will be destroyed. People need to stop banking with Bank of America. That’s one crappy bank!
Same here. But I recently took a five dollar bill with a missing corner to my bank, Wells Fargo, knowing banks redeem mulitated bills. They told me that no, they could not accept it.
YES!! Credit Unions are so underrated. They offer the same benefits, amenities and technology without the headaches. Money on interest from cust accounts go RIGHT BACK INTO THE SYSTEM, not into the pockets of the execs and the investors. I will NEVER go back to a corp owned bank.
I recently joined a second credit union in my area. One is primarily for insurance purposes, along with paying bills and the second is for my small business that I have started
Yeah, because a local news decided that a woman’s own disgusting behavior wasn’t her fault and threatened them with bad publicity so they can make a “ heartwarming” story. This woman was a victim of nothing but her own stupidity and laziness.
I work at a bank trust me there's no paperwork, We just put it in mutilated cash in our drawer the person that denied her didn't want those bills in his/her till no extra steps just adding it to your existing cash drawer
Knowing Bank of America's policies from the inside, I suspect the teller that accepted the deposit was chastised later and a note placed in their personnel file. Bank of America appreciates their customers to the extent it can profit from them.... no further.
What do you say, Jamie Diamond? Is that your given name, Diamond, or did you change it for a more powerful-sounding last name as Pete "Dallas" from Amarillo, TX?
I’m a barber and used to save all my tips and would deposit 2500/3000 at a time. And they would always say if the machine won’t accept it we can’t accept it. … then they’d say I’ll do it this time. 🙄🙄🙄
I sent 2 ragged 5 dollar bills and a partial 10 dollar bill that fell out of my pocket and run over with lawn mower cutting grass to the treasury department with a letter explaining what happened. Six months latter I received a check for 20 dollars!
@user-dw1ls3rp1l Yes, you never opened those accounts so Wells Fargo opened the accounts for you. Didn't they send you a thank you for helping them meet their productivity goals?
@@catsbyondrepairthat’s not true, they have to take as long as 3/4 of the bill still there and send it to the reserve bank for exchange, even casinos do so
@@dec1slh Exactly. That's why the $300 had to get sent to the Federal Reserve/Treasury for validation. It can take from 6 months to 3 years... _like it said in the video_ 🤭
Bank of America is just not good to their customers. They could easily see this lady dilemma but just didn't care. I bet Walmart would take most of those bills the way they were. Shame on the bank. It should take public attention to get them to do right by their customers.
It seems though, if we can just make it into federal, elected positions, THEN doubling one's assets would be looked upon by peers as an absolute waste of an opportunity.
Did you even bother to watch this clip in full? They mentioned that, but it could take anywhere from 6 months to 3 years and the victim herself said she doesn't have that kind of time because of how old she already is. She could go at any moment, then what would be the point?
@Vandicoup *_I know_* I'm 72 years old and worry incessantly about the same thing! So, in reply to your extremely less than cordial comment, I will end with the wish that you *_never, ever get old_* .
3 years? Wth do they do that takes it three years it should take no less than a week or two . You get it, open it, count it, cut a check, and mail it out. Our federal government don’t give you three years when you owe them money they want it now.
Same as BOA and WFB: If any mistake is on YOU they get their due asap; if the mistake is on THEM then YOU have to wait multiple business days for reimbursement 👆🏽
The BOA also charges a fee to cash a check from its own bank when I told the man I worked for that the next check he owed me was to increase by the amount that his bank had charged me he was a multi millionaire and he called the bank and they told him that they were charging me he went and transferred all his money to my bank and then contacted the other people that he knew and they closed their accounts costing the bank 2.3 billion dollars in closing accounts.
I love the fact that CBS News helps people like this. This made my day to hear that the News Team helps people who really need it. B of A should be ashamed of themselves for treating her with contempt until it meant bad press for them. Compassion really matters even when it is really hard to give it.
I've had a similar issue with Wells Fargo refusing to exchange a torn bill. I had about 90% of the bill still intact and it was in excellent condition aside from the missing piece. 🙄
@@fabbz94 just the first letter on the left side. Still had full serial number on the right side and it clearly matched the left. What does that matter when they're instructed to accept bills with at least 51% present?
i worked for 5th largest bank for 15 years.... there are procedures for sending damaged bills to federal reserve and have them replace it, as long as its 51% or more of the bill. Problem is the most bank workers are not even trained around this, or dont want to in order to avoid paperwork.
I know a guy who said "this is stupid, people go to all kinds of clubs with $100 dollar bills and they light cigars into them and grocery shops still accept the money because it's *money* no one cares about imperfection of the printing". Similar situation happened in Lebanon around 2021-2022, locals only wanted *perfect* no tears no cuts $100 bills and at one point thought the $50 bill was a fake concept. The official Embassy of the United States-Beirut had to issue an official statement saying something very similar to "all US currency bills are legal tender no matter the condition of the currency". Bank of America has no right to reject that woman!
You guys are cute 😂. “Erm, you might want to reconsider guys!” “Oh we would love the chance to reconsider, of course! And guess what? We accept!” Hahahahaha very nicely done. Cute and lovely hahahaha ❤
Sorry i did not finish my sentence. Banks take mutilated money all the time as long as you have enough of the bill. It is sent back to the Federal Reserve.
That's what I was going to say too. It's been awhile since I was a teller, but it's not like the gross money in this video was going in someone's register to hand back out. We usually wrote the people their receipts and recorded the money and then we would send all the mutilated money off in a batch at the end of the week. I think the BofA bank branch was just being lazy
The federal reserve actually has a office that handles damaged bills & will attempt to recover them & issue new notes. I guess the one thing that building can actually help with
Actually a commercial bank can accept the currency, depending on how bad the level of destruction is. There's a percentage acceptable. Otherwise, it has to be sent and evaluated by the Federal Reserve for validity.
I’m glad that I learned from Tim not too old money to anyone and I don’t and my credit score is high and I don’t need to old money to anyone. It doesn’t take much to do the right. God bless.
It has to be submitted to a government office where each bill has to be looked at to determine how much is left and what they’re going to give you for it. If there’s only a partial bill, you only get a partial amount. And because the government likes to keep everything, running cheaply I’m sure the office is understaffed and backed up
Although banks are privately owned they are legal representatives of the US Treasury and are supposed to take care of the services to the public , including verifying and exchanging currency . If they don't want to provide these services then what is the use of a bank . Also some banks today are less likely to provide services that others do so it pays to be picky about where you bank .
Can't say that I blame the bank. After all it is now infested with mice droppings, mold, fungus, and what not. She (and her husband) look to be hoarders. Touching that money with bare hands, is dangerous and unhealthy.
It's not the bank's issue. You should exchange it with Bureau of Engraving and Printing; it is their duty to exam and determine the value of those bills and take them off circulation. Dumping her mistake on BOA is just more work for branch employee
It’s authentic bills just water damaged, why wouldn’t the bank just accept them? The only reason they ultimately did is because this woman went public with the issue, bad move Bank of America bad move.
Hate crime. Cause the bank teller knew, it's just that they went beyond their station and decided to do hate crime and say no to an old lady. Giving off them gangster vibes.
It is not a hate crime, and damaged bills get sent to the federal government for replacement. There is no law that says a bank has to take unusable currency.
