Travel Tip of the Day: Don’t Travel with Ripped Bills - (2024)

FAQs

What to do when a bill rips? ›

Under regulations issued by the Department of the Treasury, mutilated United States currency may be exchanged at face value if: More than 50% of a note identifiable as United States currency is present.

Currency notes can become mutilated in any number of ways. The most common causes are fire, water, chemicals, and explosives; animal, insect, or rodent damage; and petrification or deterioration by burying.

The Bureau of Engraving and Printing (BEP) redeems mutilated currency as a free public service. Please find more information about this service at BEP Currency Redemption Services.

We've all probably had some damaged money in our wallets or pockets. In some cases no one will even take it from you. Often times, even financial institutions won't accept cash if it's too damaged. This is because the Federal Reserve does not accept deposits of mutilated money from banks and credit unions.

Note: Personal deliveries must be accompanied with BEP Form 5283. There will be no immediate redemption of currency . It is strongly encouraged that BEP Form 5283 and the mutilated currency be sent by USPS registered or certified mail.

(KHON2) — If you accidentally ripped a dollar bill, you may not be completely out of luck. But what do you do with the mutilated moolah? According to the U.S. Department of the Treasury, commercial banks will exchange your damaged, or “unfit” currency, for another, after some checks are made.

The currency “may be exchanged at commercial banks.” You could tape the green stuff back together but be warned that merchants may not accept the bandaged bills. If you have, what the government refers to as, mutilated money then you can send the cash off to the Treasury for exchange.

The Bank replaces damaged banknotes, including those torn or burnt, with new banknotes, according to the proportion of the part of the original banknote remaining, provided that both front and reverse sides of the banknote are maintained.

You can use your cash as is if a corner is missing. If it's ripped into two pieces, tape them back together and take the bill to a bank, where they will make sure the serial numbers on both sides of the note match and give you a new one.

Will stores accept ripped money? ›

Many stores and merchants will not take torn or drawn-on bills, and even vending machines struggle to take heavily wrinkled ones. The good news is that even if a bill is torn in half, you can tape them together and exchange them at a Federal Reserve bank for fresh notes, as long as the serial numbers match.

Burning money is illegal in the United States and is punishable by up to 10 years in prison, not to mention fines. It's also illegal to tear a dollar bill and even flatten a penny under the weight of a locomotive on the railroad tracks.

As long as more than half of the original note is clearly present—and it doesn't take special examination to determine the note's value—a commercial bank can then include the note in its deposit to the Federal Reserve.

Bank of America does not distribute or accept mutilated currency of any kind.

For consumers: If you have damaged or mutilated currency, or need currency replaced, contact the Bureau of Engraving and Printing. If you have currency you suspect is counterfeit, contact your local Secret Service Field Office.

If you have damaged or mutilated currency, or need currency replaced, contact the Bureau of Engraving and Printing. If you have currency you suspect is counterfeit, contact your local Secret Service Field Office.

Many stores and merchants will not take torn or drawn-on bills, and even vending machines struggle to take heavily wrinkled ones. The good news is that even if a bill is torn in half, you can tape them together and exchange them at a Federal Reserve bank for fresh notes, as long as the serial numbers match.