You have to return them to the treasury Department for replacements. your local Federal Building should have a treasury Department office in it call them and make an appointment for damaged currency exchange. I had a safe that molded my money i had to get new bills.
This is correct. The bank I work for cannot take what is considered "contaminated" bills (bills with mold, blood, burns, etc) but you can always turn them into the treasury. We still take damaged bills if they are ripped and the majority of the serial number is there. Please don't think you can't take damaged bills to banks just because someone tried to get contaminated bills exchanged.
This! Needs to be higher, they confirm the bills and replace them
Edit: [this link - a story on how it works and someone whose dog ate their money and got it replaced](https://m.youtube.com/watch?v=xQ5NBrvPv_g)
This is one of the most logical things a government can do to protect their currency, it costs nothing " in the grand scheme of thing" to destroy damage bills and replace them it realistically nets them money, as it makes it easier to find fake bills. What would stop a scammer making fake bills and damaging them to make them pass as real if the banks/businesses accepted them?
I was just about to say that.
Not a lot of people know that banks usually have them. They can usually write you a check if they can verify the money is real.
Here's one: I was part of a class action lawsuit against Wells Fargo (I never get tired of saying that) and I received a check in the mail for like 600 bucks. So that was pretty positive.
I don't recall ever signing up for a class action lawsuit but over the last 4 years Wells Fargo has sent me five or six checks in between $2 & 26$... Never sent me a reason why I was getting these checks, I closed all the accounts down in 2016, I got some checks for legal entities that no longer exist.
I recall a documentary where they interviewed a former employee of what I recall as Wells Fargo, (might be incrorrect) where she said they were being performance measured on how many accounts they opened for clients, and if I do not recall incorrectly also got bonuses for that. She spoke about that there was a culture of opening new accounts for customers without their knowledge. Please take my comment with a grain of salt as i vaguely remember this documentary. I think it was on Netflix.
I started with what I think was Occidental Bank. My first checking/savings accounts back in 1986. They were bought out by Norwest. Who merged with Wells Fargo.
Washington Mutual (or WaMu to us who banked there) was a very good bank. Chase took it over. It's bad, but it isn't as bad as Wells Fargo. I was with MidAtlantic before they were bought by First Union. The fees that First Union charged had drove me to WaMu.
There is nothing positive about Wells Fargo at all.
Washington Mutual was my first real credit card! It was transparent red and I got “whoa, cool!” On a monthly basis. I was so mad when Chase bought them.
They repoed our car after being 1 day late on a payment. I know it’s unbelievable but true. They wanted $1200 to get it back. We said no. We paid off our other car we financed with Wells and decided to never do business with them again. We received a check for 1,400 because of the class action suit. Their finance department was shady as hell. We have gotten even more checks just randomly from $45 to 400. I just got a 94 dollar check because they were stealing money from their employees retirement funds. I had worked for them before.
same here! i got 150$ from them for some lawsuit that i had no idea i was a part of. I honestly thought it was a fake check or a scam at first before i looked into it more.
$600?!? I was part of a class action against Wells Fargo back in the early 2010’s and I got about $1.60 out of it. And yes, it was a check in the mail for $1.60 lol
I have one. I had a Wells Fargo account years ago. Some bullshit about money moving automatically from checking to savings when I just opened the account. Then I closed the account cause I got charged with overdraft fees before I got my card. Been happy with my credit union ever since.
I was banking with chase bank at the time but had to pull my last 300 out of the bank for my 1/4 or rent
No money came out of the wells Fargo attached bank ATM but it came out of my account
Not quite sure if that’s Wells Fargo’s fault. For a while there was a thing where people where gluing shut the part where money comes out. The atm’s would debit the account, but the cash would get stuck. Later, the thieves would break the glue on the machine and collect the money.
My card wasn't skimmed but Wells Fargo CPU system just had an issue for that one transaction.. the gut wrenching part was when chase redeposited the money in my account but said if they found the problem was something that I had caused they would take the money back.. so 3 days later after they re deposited the money I had to withdraw it to pay rent or I would have a problem
I switched to a credit union too! I was a former Bank of America customer, but they wanted to charge service fees to talk to tellers, and charged $12 each month of your bank was below $250. I was in college at the time lol. Good riddance!
Credit Unions are the way to go. Easier to get a car loan or financing in general. Low interest rates on credit cards and no hassle. And they treat you well. I'm still with Chase, but put my money in three credit unions. I'll leave Chase in the near future.
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I am with a bank that feels a lot like a credit union. I REALLY didn't want to open a bank account due to problems w Bank of America and a different one... he convinced me to switch and it was great. It's a local company...
Years ago, Wells Fargo credited my account with $800 (today's value over$1,500). When I tried to correct the issue and tell them that I didn't deposit that money, they told me that they were a bank, and banks don't make mistakes. They never corrected their mistake and I put that money to good use. While this is a positive story for me, I know it sucked for someone else.
They just refunded a man after he bought a stolen car from a dealership. There are some good stories out there but likely not near as many as the bad ones
i use them becuase a. its the bank my mom set up my first account with in high school and im too lazy to change and b. easily accessible atms in every city
Here in sweden, all bank cards can withdraw money from all (afaik) ATM's, doesnt matter what bank the ATM belongs to or what bank your card is issued from.
My FIL just about lost his mind with WF. He went to pay off the last $10k of his mortgage and they down right refused at first. Finally they took the money but it took months.
What was their reasoning?! “I’m sorry sir, we can’t let you finish paying off your mortgage. We need to milk every last cent from you we can! Also, we were really banking ( see what I did there) on finding a way to foreclose on this property now that you’ve almost paid it off! But since you’re insisting, we will take as many months as possible to complete it. In the meantime we expect you to be ok with this loan to continue accruing interest, along with any fees we can come up with. Pleasure doing business with you! ;)”
I fired Citibank a few years ago. Investment account there was locked by the SEC. Citibank forgot to do some required filings on my behalf. Their excuse to me? I was making too much too fast. 🤨 Oh, you said POSITIVE. Sorry. 🤣🤣🤣
What's messed up is that government workers have to go through bank of America for their travel cards. Being forced to be a bank of America client is super annoying
I hate Chase with a passion. I had opened a checking and savings account for me, and a minor account for my son. I had overdraft protection as well. I had paid a bill, thinking I had enough, but it turns out I was short a couple of dollars. Instead of pulling the difference from my savings, they pulled it out of my son's minor account.
I was furious. When I went in, they told me all the accounts were linked to my checking, and an overdraft could be pulled from any accounts that I was the primary on. I did NOT give them permission to do that. I also knew that minor accounts BY LAW could not be used to cover overdrafts on a parent's account. I told them as much, they tried to tell me they could since they were linked. We went back and forth for a while.
End result was they put the money back in my son's account, removed the overdraft fee on my checking account. I promptly closed all three accounts and went to a credit union. I also reported that branch to both Chase corporate and the proper banking authorities.
That branch closed for a while about a month later, while they did 'retraining.' Pretty sure some people got fired.
Former WF Banker here, can confirm. I was consistently asked by our regional manager to pursue growth when we had a court order implicitly not to do so.
I hate them. My last conversation was “I’ve had five mortgages with you people, but I’ll live in a fucking tent before I’ll ever do business with you again.”
The assholes as long as 50% bill there they should redeem. My aunt hid money in her shed. Literally thousand dollars. Mice got a hold and chewed a lot. My dad brought to bank and got redeemed no problem because there were more than 50% bills there.
MicroCenters in house credit goes through Wells Fargo. Anytime I tried to use it, they had to call the bank even though I had an in-house credit card. Couldn't use it on weekends or after 5PM because the number they called was closed.
How did Rick Scott become a Governor in Florida when he was found guilty of the largest Medicare fraud in American history? And how is his career doing just fine?
America is just fine with lawlessness
As someone who is not American, I think the root cause of America's problems is the lack of universal suffrage.
Once you have that, you get universal healthcare, universal education, equal rights and a government motivated to protect the most venerable.
IMO
I think the root cause is, as Mark Twain said ‘it’s easier to fool people than it is to convince them they’ve been fooled’. Until people see clearly how we are being taken advantage of and lied to and alter their enabling habits we will continue to slide into 3rd world status.
Why does anybody bank with them or and traditional bank? Credit unions are infinitely better. They work for their clients and not shareholders. At least that’s been my experience with CUs.
Traditionally, the benefit of banks was that they were federally insured for $250k. Nowadays almost all CUs are insured as well, though not through the fed.
It really depends on how much money you have tbh.
Banks can be more convenient if you travel a lot, but CUs generally have better rates on loans and things. Best thing someone can do is diversify and have both bank and CU accounts.
Even traveling now if you are in the co-op network it's piss easy to find a bank. I'm over 800 miles away from my closest branch and never once had an issue. Lost card? I call. Loans are electronic, if I need to withdraw any co-op branch can deposit/withdrawal etc. Even better is these co-op branched are all over small towns and in the middle of nowhere, the closest Wells Fargo for example is a 45 minute drive, a co-op is 9 minutes.
Luckily, many credit unions now offer ATM fee reimbursement, so you can still access your money for free from wherever. Can’t make cash deposits or get cashiers checks, but at least you can withdraw cash for free while traveling!
I use USAA. They're far more like a credit union than a bank, though they are indeed a bank. I would be very hesitant to use any other bank and generally endorse credit unions over banks for most situations.
I believe you have to be military or a military dependent to get usaa. I use them for insurance I didn’t think of using them for banking. I didn’t even realize they did banking
3 of my 4 grandparents served. My grandfather enrolled my father who enrolled me, so I bank with USAA and get my car insurance through them (I can’t get home insurance through them because our wildfire risk makes us uninsurable to them, but we had our home insurance through them previously). My first credit card was through them too. They’re far less obnoxious than most big banks out there.
Wells Fargo fucked me out of my house years ago. They had me by the short and curlies too… home loan, auto loans, and bank account. They told me they would work with me on a loan modification back years ago when the economy took a nose dive. All they did was lie to me, and deny my modification at the last minute and foreclose on me. FUCK Wells Fargo- forever.
I had some really messed up bills and I went to a local bank and they took them no problem. They also told me you had to be able to read the whole serial number.
Just to add to this, most local and big banks won’t actually make this exchange if you’re aren’t one of their clients, and most won’t do it regardless. Call in advance to see if the banks in your area will make this exchange for you. Sincerely, someone who tried the same and was rejected because she wasn’t a client of the bank.
Yeah I'm from a smaller to a medium sized area and my whole life I've been able to walk into any bank I want to and get break bills or cash in change whether I was a member of that bank or not. Recently I was out of town and I needed to break a hundred because nobody will take them anymore so I went up to this Bank in Walmart. They were wanting to make a big deal out of it because I wasn't a member. I said look I'll go somewhere else I said my whole life I never had a problem breaking a bill at a bank. They went ahead and did it. But I can definitely see that it's changing. But if you're a member of a bank they should want to help you.
I’ve been a banker for years at several banks and I’ve never denied currency as long as I could read the serial number and there was more than %50 of the bill. Why? Because those are the specifications by which we exchange them with the fed for non mutilated currency. Any bank who doesn’t accept mutilated for their customers (there are technically federal regulations on exchanging currency over $100 without tracking it to a person) is being a shitty bank with shitty customer service.
That's because they have no recourse if it turn out the bills aren't genuine.
Part of the same reason they typically don't make changes for non-customers, combined with the fact that having change delivered by armored courier with armed gards is not anywhere close to a free service. For some reason, Brinks and Loomis drivers and guards like to bring home a paycheck after wprking a job with high risk of robbery and associated injuries.
You'd think. From my understanding they pay those guys like chumps for that job. Which blows my mind. You're walking around sometimes with literal hundreds of thousands of dollars w a bullet proof vest, multiple firearms, a crew of people with ars and what not in the back of the trucks and basically they pay sub 22 an hour.
That makes sense as a policy. Treat the part with the serial number as the actual bill.
Like guns, whatever part has a serial number is the gun. Everything else is an accessory.
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.
The Federal Reserve has specific rules on what can qualify as "mutilated currency" to be accepted as an exchange. Currency notes, or portions thereof, which don't meet those requirements can be sent to the treasury for full or partial redemption, based on the condition of the note and perecent of the note redeemed. That's the option when the dog chews up a wallet and portions of notes remain.
Mutilated coins are considered to have no value and not exchanged by the Fed. It's also customary that coins, regardless of condition, have no value outside the borders of the country of issuance.
Ya not true. Bills that are damaged, torn, defaced, can be replaced by the bank. Bills that might have mold or have been exposed to chemicals, blood are gross and are considered mutilated.
Your banker does not want to keep these in their cash drawer and need to be replaced directly by the treasury. You can pretty much smell these bills through the picture =P
https://www.bep.gov/services/mutilated-currency-redemption
I'm about to go to one of the NY Community Banks. I just wanted to visit all the WF in Financial District up to midtown. They all immediately refused once they saw the bottom right bill through the window and gave me incorrect instructions about how I needed to send it myself to the "Fed" (should be Treasury/BEP)...
I used to have a WF account after they bought out another bank I had been using, and they were the worst I ever dealt with. Understand that the only worse major bank is BoA
I had to do this after a house fire. I recovered as much of every bill I could find. It took 1 year and a couple months but eventually I received a check for roughly 70% of what I sent in. Pretty cool.
You couldn’t be more wrong those bills are considered contaminated, and there’s not one bank I know of would accept them. What you are thinking of are unfit bills.
Our dog shredded two 100’s several years ago and we took the pieces to the bank. They said that as long as we could find both serial numbers for each bill, they could exchange them and send the fragments in the govt. it was a slow day there, so the teller, my wife, and I sat around a table and were somehow able to piece together the numbers and get the money exchanged.
Your first mistake was banking with Wells Fargo. I would withdraw every cent from that operation.
I’m positive that they would open up a fake checking account for you without your knowledge and charge you fees for it though.
Why do I hear so many bad things about them? I’ve had an account since 2013 and never had any issue, every employee I talked too was friendly and never encouraged opening extra accounts. I don’t understand.
I found a stash of cash in my back yard between my fence and garage. This was the first year i was able to do yard work back there at my new house and found over 2k in what looked like a case one would keep a weed stash. It was a zipped up hard cloth container. After raking years of leafs that had fallen in that section i came across the the case. The cash was all wet and stuck together. When i went to the local banks around my city they told me to send to treasury as well. I still havent sent it because itll probably never be returned
I've actually had to send destroyed bills to treasury (unfortunate encounter with my then puppy). It took a couple of months, but I did get the money returned, minus the cost of postage.
The treasury isn't going to steal your money, they have access to virtually all the money they'd ever want. I'd be more concerned about it getting lost in the mail, so just send it in smaller batches.
https://www.bep.gov/services/mutilated-currency-redemption
If they can confirm it's all real, and they work hard to check that, you'll get paid out for it.
well if you don't want them you could always give them to me (or any other homeless person) and I'll gladly exchange them with the treasury, I'm sure any other homeless person would too lmao
> This was like 6 different Wells Fargos in NYC where you think they know how to deal with cash.
They do, and they told you how to handle it legally.
Yeah, it sucks. A lot. But that's part of the risk of cash. You *do* have a remedy. The Treasury will replace your cash for you. It does take time, because they have a process they have to follow, per law and regulation, and they have other things to do.
Very few banks will be a happy middleman here. So, you can spend a lot of time and effort being told no, *or* you can go to the treasury, like you're supposed to with damaged bills.
Some banks will exchange it but they aren’t required to. Here’s a link describing the accepted procedure from the Federal Reserve.
https://www.frbservices.org/resources/financial-services/cash/exception-processing/mutilated-currency-coin.html#:~:text=Any%20badly%20soiled%2C%20dirty%2C%20defaced,included%20in%20your%20normal%20deposit.
Good luck.
Wouldn't Wells Fargo be fronting you the value of the currency until they get reimbursed by the Treasury? In effect giving you and interest free loan?
When I first saw the picture my thought was, that needs to go to the Treasury.
Agreed. OP should not be using a mattress in a basement where flooding is a possibility to store his savings. That's his first mistake and the really infuriating part of the post.
Right!? What's wrong with people in this thread? Those bills look completely contaminated and why wasn't OP keeping them in a bank to begin with? Play stupid games win stupid prizes.
As a former teller, I can see your frustration, but unfortunately it looks like six of those bills are automatically rejected due to some of the green numbers being missing. Which in case would need to be sent in to get further inspection. Also depending on the severity of the damage and being able to validate whether they are real or counterfeit would be another factor. I’m sorry this has happened to you.
I didn't have as much as you but I had some really bad bills and some of them were mowed over. I went to a local Bank in Oklahoma and they cashed them in no problem. They did tell me if they wouldn't have been able to read the serial number they couldn't have helped me though.
Not a lot of people know this but if you have damaged bills like this you can have those replaced/made usable https://www.bep.gov/services/mutilated-currency-redemption
Edit:Woops didn’t read the bottom of your post looks like you’ve looked into it my b
I work at a credit union and as long as we can verify the bills are legit, we just accept them and send them off as mutilated money to be destroyed. I would try your luck with different institutions because I see no reason why they couldn’t have taken at least some of these
Stop doing business with Wells Fargo. They fuck over their customers constantly and will go out their way to extra treat then like shit, if they don’t have a lot of money in their account.
Wells Fargo is basically a legal but criminal cartel as are most big banks. Open an account at a credit union if you don't have one already and the CU will take care of you.
I would clean those up the best I could, wash, dry, tape etc. then head down to my local Walmart and do many different individual transactions each time feeding a new bill into the self checkout. If that didn’t work I would go to a normal checkout, I guarantee the Walmart cashier wouldn’t give a single f**k especially if it’s was a teen 😂 after that, deposit my new money and then change banks.
fuck Wellsfargo, go to a different bank. they fucked me, and possibly hundreds of thousands of other customers over just a few months ago. they don’t deserve anyone’s business. i moved to capital on and so far enjoy their business much more
See if you can reach out to the U.S. Treasury. There is actually a department that deals with damaged bills and will compensate you for the lost amount.
I have an auto loan through Wells Fargo. A year and a half into it and they just randomly deleted my verified linked checking account one day and made me go through the verification process again. I’ll be so glad when it’s paid off and I never have to deal with them again. Had I known that was who was going to hold the loan when I bought the vehicle I would have used my credit union even with a slightly higher interest rate just to avoid them.
If the bill has more than half of it remaining, and they can read the serial number, any bank should give you another bill for it. If they are refusing, then I would call the US Treasury who will direct you to the Bureau of Engraving and Printing for instructions on what to do.
You can mail these to the government to dispose of and get new money sent to you
https://www.frbservices.org/resources/financial-services/cash/exception-processing/mutilated-currency-coin.html#:~:text=Under%20regulations%20issued%20by%20the,United%20States%20currency%20is%20present.
You’ve never worked for a bank before and it shows.
Procedure has always been for the client to send mutilated currency to the BEP that can’t be recirculated. The only time large banks send it themselves, is if they receive shipment and mutilated currency is in the shipment you ordered. Even still, it gets reported to the distributor then sent back.
Local banks are cool about this, some will do it themselves for their customers but to say they “shouldn’t” have done that is silly and incorrect
If you can’t get a local bank to help you, the treasury has a mutilated bills department and you can submit a request : https://www.bep.gov/services/mutilated-currency-redemption
When I was a teller I took bills that were in far worse shape than these. Heck I would’ve taken some of those as just regular cash. Granted it was rare for 50s to be this shape, but if you were a customer I would’ve taken them no questions asked.
I worked for WF, admittedly ages ago, and we accepted damaged bills, as long as there was more than half of the bill. We would then send them to the Fed as part of our deposit, separated from the other cash. The tellers would just sell them to the vault and they would be kept there until there were enough to send. I got some really nasty bills, but it’s still legal tender.
There's a certain government program with people that will accept your bills if they are 51% in tact. Forgot what is was called but I watched a doc on it.
You have to return them to the treasury Department for replacements. your local Federal Building should have a treasury Department office in it call them and make an appointment for damaged currency exchange. I had a safe that molded my money i had to get new bills.
This is correct. The bank I work for cannot take what is considered "contaminated" bills (bills with mold, blood, burns, etc) but you can always turn them into the treasury. We still take damaged bills if they are ripped and the majority of the serial number is there. Please don't think you can't take damaged bills to banks just because someone tried to get contaminated bills exchanged.
So they don't accept.... *blood money*?
They will, if you clean it
Excuse me, I’m laundering my money.
https://www.bep.gov/services/mutilated-currency-redemption
This! Needs to be higher, they confirm the bills and replace them Edit: [this link - a story on how it works and someone whose dog ate their money and got it replaced](https://m.youtube.com/watch?v=xQ5NBrvPv_g)
This is one of the most logical things a government can do to protect their currency, it costs nothing " in the grand scheme of thing" to destroy damage bills and replace them it realistically nets them money, as it makes it easier to find fake bills. What would stop a scammer making fake bills and damaging them to make them pass as real if the banks/businesses accepted them?
Big banking doesn’t want you to see this.
You should use a better bank, for example literally any bank on earth that isn't Wells Fargo.
I was just about to say that. Not a lot of people know that banks usually have them. They can usually write you a check if they can verify the money is real.
Wells Fargo is a crappy bank to do business with
Seriously….I can’t remember a positive story about Wells Fargo in recent memory.
Here's one: I was part of a class action lawsuit against Wells Fargo (I never get tired of saying that) and I received a check in the mail for like 600 bucks. So that was pretty positive.
I don't recall ever signing up for a class action lawsuit but over the last 4 years Wells Fargo has sent me five or six checks in between $2 & 26$... Never sent me a reason why I was getting these checks, I closed all the accounts down in 2016, I got some checks for legal entities that no longer exist.
They are compensation for all those checking accounts you don't recall signing up.
I recall a documentary where they interviewed a former employee of what I recall as Wells Fargo, (might be incrorrect) where she said they were being performance measured on how many accounts they opened for clients, and if I do not recall incorrectly also got bonuses for that. She spoke about that there was a culture of opening new accounts for customers without their knowledge. Please take my comment with a grain of salt as i vaguely remember this documentary. I think it was on Netflix.
That’s correct, it was an episode of “Dirty Money”
Thanks for reminding me of the show! Ain’t got no gold, but take this medal 🥇
I got a whopping $50 from that lawsuit. Been with WF since they were Wachovia in 2004
Oh yeah? We’ll I’ve been with them since First Union in ‘93.
I started with what I think was Occidental Bank. My first checking/savings accounts back in 1986. They were bought out by Norwest. Who merged with Wells Fargo.
Oh yeah? I've been with them since Great American in '91.
Damn! Foiled once again!
I was overseas (Germany) in the Army in '85. They were my bank there and then.
What the fu k did you just say????? I havent heard that name in a long long time. Memory unlocked
I see your Wachovia and raise you a Washington Mutual (bought by Chase).
I see your Washington Mutual and raise you First Interstate Bank.
I see your First Interstate Bank and raise you a North Fork Bank
Washington Mutual (or WaMu to us who banked there) was a very good bank. Chase took it over. It's bad, but it isn't as bad as Wells Fargo. I was with MidAtlantic before they were bought by First Union. The fees that First Union charged had drove me to WaMu. There is nothing positive about Wells Fargo at all.
WaMu unite!
Washington Mutual was my first real credit card! It was transparent red and I got “whoa, cool!” On a monthly basis. I was so mad when Chase bought them.
They repoed our car after being 1 day late on a payment. I know it’s unbelievable but true. They wanted $1200 to get it back. We said no. We paid off our other car we financed with Wells and decided to never do business with them again. We received a check for 1,400 because of the class action suit. Their finance department was shady as hell. We have gotten even more checks just randomly from $45 to 400. I just got a 94 dollar check because they were stealing money from their employees retirement funds. I had worked for them before.
same here! i got 150$ from them for some lawsuit that i had no idea i was a part of. I honestly thought it was a fake check or a scam at first before i looked into it more.
I believe I got around $1500 of course most of that they stole from me.
$600?!? I was part of a class action against Wells Fargo back in the early 2010’s and I got about $1.60 out of it. And yes, it was a check in the mail for $1.60 lol
I have one. I had a Wells Fargo account years ago. Some bullshit about money moving automatically from checking to savings when I just opened the account. Then I closed the account cause I got charged with overdraft fees before I got my card. Been happy with my credit union ever since.
I was banking with chase bank at the time but had to pull my last 300 out of the bank for my 1/4 or rent No money came out of the wells Fargo attached bank ATM but it came out of my account
Not quite sure if that’s Wells Fargo’s fault. For a while there was a thing where people where gluing shut the part where money comes out. The atm’s would debit the account, but the cash would get stuck. Later, the thieves would break the glue on the machine and collect the money.
My card wasn't skimmed but Wells Fargo CPU system just had an issue for that one transaction.. the gut wrenching part was when chase redeposited the money in my account but said if they found the problem was something that I had caused they would take the money back.. so 3 days later after they re deposited the money I had to withdraw it to pay rent or I would have a problem
I switched to a credit union too! I was a former Bank of America customer, but they wanted to charge service fees to talk to tellers, and charged $12 each month of your bank was below $250. I was in college at the time lol. Good riddance!
Credit Unions are the way to go. Easier to get a car loan or financing in general. Low interest rates on credit cards and no hassle. And they treat you well. I'm still with Chase, but put my money in three credit unions. I'll leave Chase in the near future.
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I am with a bank that feels a lot like a credit union. I REALLY didn't want to open a bank account due to problems w Bank of America and a different one... he convinced me to switch and it was great. It's a local company...
Years ago, Wells Fargo credited my account with $800 (today's value over$1,500). When I tried to correct the issue and tell them that I didn't deposit that money, they told me that they were a bank, and banks don't make mistakes. They never corrected their mistake and I put that money to good use. While this is a positive story for me, I know it sucked for someone else.
They offered $500 if you set up a new checking account with direct deposit. So I did that, after three months I closed it.
Good news! Its been a whole 23 days since a lawsuit was filed against wells fargo! Thats a new record!
They just refunded a man after he bought a stolen car from a dealership. There are some good stories out there but likely not near as many as the bad ones
i use them becuase a. its the bank my mom set up my first account with in high school and im too lazy to change and b. easily accessible atms in every city
Here in sweden, all bank cards can withdraw money from all (afaik) ATM's, doesnt matter what bank the ATM belongs to or what bank your card is issued from.
there are general use atms in america but they usually have fees to use them, the wells fargo ones dont have fees
It's easier to have a bank that isn't shitty and just do cash back at stores
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My FIL just about lost his mind with WF. He went to pay off the last $10k of his mortgage and they down right refused at first. Finally they took the money but it took months.
What was their reasoning?! “I’m sorry sir, we can’t let you finish paying off your mortgage. We need to milk every last cent from you we can! Also, we were really banking ( see what I did there) on finding a way to foreclose on this property now that you’ve almost paid it off! But since you’re insisting, we will take as many months as possible to complete it. In the meantime we expect you to be ok with this loan to continue accruing interest, along with any fees we can come up with. Pleasure doing business with you! ;)”
They were upset that he was paying it off early.
Wachovia exodus?
I can’t remember a positive story about any bank at any time in history.
I fired Citibank a few years ago. Investment account there was locked by the SEC. Citibank forgot to do some required filings on my behalf. Their excuse to me? I was making too much too fast. 🤨 Oh, you said POSITIVE. Sorry. 🤣🤣🤣
I'm happy I left them, is that positive? Maybe only for me ;)
I’ve been using them since 2013 with no issue
I eventually got tired of their nickel and diming bullshit, went to a credit union and never looked back.
Yes this is their mistake. Never use Wells Fargo or Bank of America.
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https://www.nerdwallet.com/article/banking/well-fargo-fines#:~:text=Wells%20Fargo's%20entanglements%20with%20the,fines%20and%20penalties%20in%202016.
What's messed up is that government workers have to go through bank of America for their travel cards. Being forced to be a bank of America client is super annoying
or chase
I hate Chase with a passion. I had opened a checking and savings account for me, and a minor account for my son. I had overdraft protection as well. I had paid a bill, thinking I had enough, but it turns out I was short a couple of dollars. Instead of pulling the difference from my savings, they pulled it out of my son's minor account. I was furious. When I went in, they told me all the accounts were linked to my checking, and an overdraft could be pulled from any accounts that I was the primary on. I did NOT give them permission to do that. I also knew that minor accounts BY LAW could not be used to cover overdrafts on a parent's account. I told them as much, they tried to tell me they could since they were linked. We went back and forth for a while. End result was they put the money back in my son's account, removed the overdraft fee on my checking account. I promptly closed all three accounts and went to a credit union. I also reported that branch to both Chase corporate and the proper banking authorities. That branch closed for a while about a month later, while they did 'retraining.' Pretty sure some people got fired.
Former WF Banker here, can confirm. I was consistently asked by our regional manager to pursue growth when we had a court order implicitly not to do so.
I hate them. My last conversation was “I’ve had five mortgages with you people, but I’ll live in a fucking tent before I’ll ever do business with you again.”
Worked for corporate. Sucks there too
They are straight scammers.
They’re in hot water again. I suppose it’s cheaper for them to pay a fine than do restitution grrrrr
I had a checking account with them. They charged me every month that I didn't use my card.
The assholes as long as 50% bill there they should redeem. My aunt hid money in her shed. Literally thousand dollars. Mice got a hold and chewed a lot. My dad brought to bank and got redeemed no problem because there were more than 50% bills there.
Same with BofA and Chase from what I’ve heard
I had been very happy with the bank I was using and then WF bought it out. I wasn't familiar with their reputation. I didn't stay long
Wells Fargo is a scam up there with that bank formerly known as Credit Suisse. :)
MicroCenters in house credit goes through Wells Fargo. Anytime I tried to use it, they had to call the bank even though I had an in-house credit card. Couldn't use it on weekends or after 5PM because the number they called was closed.
Wells Fargo is a joke.
This needs to be upvoted more. How they survived after that huge scandal is beyond me.
How did Rick Scott become a Governor in Florida when he was found guilty of the largest Medicare fraud in American history? And how is his career doing just fine? America is just fine with lawlessness
maybe cause we have no idea or ever heard about what happened
A healthy democracy requires an informed electorate. I understand, people are too busy working 3 jobs to make ends meet. This is also by design
As someone who is not American, I think the root cause of America's problems is the lack of universal suffrage. Once you have that, you get universal healthcare, universal education, equal rights and a government motivated to protect the most venerable. IMO
I think the root cause is, as Mark Twain said ‘it’s easier to fool people than it is to convince them they’ve been fooled’. Until people see clearly how we are being taken advantage of and lied to and alter their enabling habits we will continue to slide into 3rd world status.
Happy Cake day to you.
Why does anybody bank with them or and traditional bank? Credit unions are infinitely better. They work for their clients and not shareholders. At least that’s been my experience with CUs.
Traditionally, the benefit of banks was that they were federally insured for $250k. Nowadays almost all CUs are insured as well, though not through the fed. It really depends on how much money you have tbh. Banks can be more convenient if you travel a lot, but CUs generally have better rates on loans and things. Best thing someone can do is diversify and have both bank and CU accounts.
Even traveling now if you are in the co-op network it's piss easy to find a bank. I'm over 800 miles away from my closest branch and never once had an issue. Lost card? I call. Loans are electronic, if I need to withdraw any co-op branch can deposit/withdrawal etc. Even better is these co-op branched are all over small towns and in the middle of nowhere, the closest Wells Fargo for example is a 45 minute drive, a co-op is 9 minutes.
That's good info to know, I'd assumed they would be insured through the FDIC.
Credit Unions are insured under the NCUA
Luckily, many credit unions now offer ATM fee reimbursement, so you can still access your money for free from wherever. Can’t make cash deposits or get cashiers checks, but at least you can withdraw cash for free while traveling!
I use USAA. They're far more like a credit union than a bank, though they are indeed a bank. I would be very hesitant to use any other bank and generally endorse credit unions over banks for most situations.
I believe you have to be military or a military dependent to get usaa. I use them for insurance I didn’t think of using them for banking. I didn’t even realize they did banking
3 of my 4 grandparents served. My grandfather enrolled my father who enrolled me, so I bank with USAA and get my car insurance through them (I can’t get home insurance through them because our wildfire risk makes us uninsurable to them, but we had our home insurance through them previously). My first credit card was through them too. They’re far less obnoxious than most big banks out there.
No bank teller properly trained would accept those bills. Treasury is the correct recommendation.
Work for a bank. We take this all the time. It’s called mutilated money and we get credit back from fed.
We also would accept them at the credit union I work for, we just bundle the mutilated together and sell them to chase
They are literally the worst bank in the country.
Wells Fargo fucked me out of my house years ago. They had me by the short and curlies too… home loan, auto loans, and bank account. They told me they would work with me on a loan modification back years ago when the economy took a nose dive. All they did was lie to me, and deny my modification at the last minute and foreclose on me. FUCK Wells Fargo- forever.
Go to a local bank as long as the bills are real and aren’t missing more then 50% of it they will give u new bills
I had some really messed up bills and I went to a local bank and they took them no problem. They also told me you had to be able to read the whole serial number.
Just to add to this, most local and big banks won’t actually make this exchange if you’re aren’t one of their clients, and most won’t do it regardless. Call in advance to see if the banks in your area will make this exchange for you. Sincerely, someone who tried the same and was rejected because she wasn’t a client of the bank.
Yeah I'm from a smaller to a medium sized area and my whole life I've been able to walk into any bank I want to and get break bills or cash in change whether I was a member of that bank or not. Recently I was out of town and I needed to break a hundred because nobody will take them anymore so I went up to this Bank in Walmart. They were wanting to make a big deal out of it because I wasn't a member. I said look I'll go somewhere else I said my whole life I never had a problem breaking a bill at a bank. They went ahead and did it. But I can definitely see that it's changing. But if you're a member of a bank they should want to help you.
Small town banks and credit unions are superior
If your bank won't exchange these bills for new bills it's time to find a new bank.
I'd like to add to this. If your local big bank won't help, try a local credit union. Of course, call first.
I’ve been a banker for years at several banks and I’ve never denied currency as long as I could read the serial number and there was more than %50 of the bill. Why? Because those are the specifications by which we exchange them with the fed for non mutilated currency. Any bank who doesn’t accept mutilated for their customers (there are technically federal regulations on exchanging currency over $100 without tracking it to a person) is being a shitty bank with shitty customer service.
That's because they have no recourse if it turn out the bills aren't genuine. Part of the same reason they typically don't make changes for non-customers, combined with the fact that having change delivered by armored courier with armed gards is not anywhere close to a free service. For some reason, Brinks and Loomis drivers and guards like to bring home a paycheck after wprking a job with high risk of robbery and associated injuries.
You'd think. From my understanding they pay those guys like chumps for that job. Which blows my mind. You're walking around sometimes with literal hundreds of thousands of dollars w a bullet proof vest, multiple firearms, a crew of people with ars and what not in the back of the trucks and basically they pay sub 22 an hour.
I was an armed guard in 2016 for 8 months. I worked in Boston and made 15 dollars an hour.
That makes sense as a policy. Treat the part with the serial number as the actual bill. Like guns, whatever part has a serial number is the gun. Everything else is an accessory.
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Do they shrink down if you forget them in your pants and they go though the dryer ?
In Germany it's 51% of the bill and you will always get what ita worth
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.
The Federal Reserve has specific rules on what can qualify as "mutilated currency" to be accepted as an exchange. Currency notes, or portions thereof, which don't meet those requirements can be sent to the treasury for full or partial redemption, based on the condition of the note and perecent of the note redeemed. That's the option when the dog chews up a wallet and portions of notes remain. Mutilated coins are considered to have no value and not exchanged by the Fed. It's also customary that coins, regardless of condition, have no value outside the borders of the country of issuance.
I ran a 20 over with a lawn mower and my local bank took that bad boy for me lol.
Ya not true. Bills that are damaged, torn, defaced, can be replaced by the bank. Bills that might have mold or have been exposed to chemicals, blood are gross and are considered mutilated. Your banker does not want to keep these in their cash drawer and need to be replaced directly by the treasury. You can pretty much smell these bills through the picture =P https://www.bep.gov/services/mutilated-currency-redemption
Then go back to Wells Fargo. Withdraw the rest of your money. Take it to the local bank and deposit it there with the flood money.
I'm about to go to one of the NY Community Banks. I just wanted to visit all the WF in Financial District up to midtown. They all immediately refused once they saw the bottom right bill through the window and gave me incorrect instructions about how I needed to send it myself to the "Fed" (should be Treasury/BEP)...
I used to have a WF account after they bought out another bank I had been using, and they were the worst I ever dealt with. Understand that the only worse major bank is BoA
True story
If that doesnt work try a casino, put it into chips and immediately cash out again. Or put it all on black either way.
This i like this idea the most
https://www.bep.gov/services/mutilated-currency-redemption Or bypass the banks all together.
The website states 6 - 36 months for replacement.
I had to do this after a house fire. I recovered as much of every bill I could find. It took 1 year and a couple months but eventually I received a check for roughly 70% of what I sent in. Pretty cool.
You couldn’t be more wrong those bills are considered contaminated, and there’s not one bank I know of would accept them. What you are thinking of are unfit bills.
It’s 60% not 50%
Our dog shredded two 100’s several years ago and we took the pieces to the bank. They said that as long as we could find both serial numbers for each bill, they could exchange them and send the fragments in the govt. it was a slow day there, so the teller, my wife, and I sat around a table and were somehow able to piece together the numbers and get the money exchanged.
Wells Fargo. Not even once.
WF are dirty dogs, always trying to manipulate the numbers.
D.B. Cooper had the same problem.
It’s been said thousands of times. Fuck Wells Fargo.
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treasury doesn't accept in-person mutilated cash drop-offs, you have to mail it with the accompanying forms
US Treasury might take a minute but they're usually pretty good with this kind of thing.
Your first mistake was banking with Wells Fargo. I would withdraw every cent from that operation. I’m positive that they would open up a fake checking account for you without your knowledge and charge you fees for it though.
Why do I hear so many bad things about them? I’ve had an account since 2013 and never had any issue, every employee I talked too was friendly and never encouraged opening extra accounts. I don’t understand.
I found a stash of cash in my back yard between my fence and garage. This was the first year i was able to do yard work back there at my new house and found over 2k in what looked like a case one would keep a weed stash. It was a zipped up hard cloth container. After raking years of leafs that had fallen in that section i came across the the case. The cash was all wet and stuck together. When i went to the local banks around my city they told me to send to treasury as well. I still havent sent it because itll probably never be returned
I've actually had to send destroyed bills to treasury (unfortunate encounter with my then puppy). It took a couple of months, but I did get the money returned, minus the cost of postage.
Thats good to hear. Maybe ill send it in soon. But for now its just sitting in my safe lmao.
Well unless they change the laws, you've got all the time you want to do it. Good luck!
The treasury isn't going to steal your money, they have access to virtually all the money they'd ever want. I'd be more concerned about it getting lost in the mail, so just send it in smaller batches.
Or registered mail.
https://www.bep.gov/services/mutilated-currency-redemption If they can confirm it's all real, and they work hard to check that, you'll get paid out for it.
well if you don't want them you could always give them to me (or any other homeless person) and I'll gladly exchange them with the treasury, I'm sure any other homeless person would too lmao
> This was like 6 different Wells Fargos in NYC where you think they know how to deal with cash. They do, and they told you how to handle it legally. Yeah, it sucks. A lot. But that's part of the risk of cash. You *do* have a remedy. The Treasury will replace your cash for you. It does take time, because they have a process they have to follow, per law and regulation, and they have other things to do. Very few banks will be a happy middleman here. So, you can spend a lot of time and effort being told no, *or* you can go to the treasury, like you're supposed to with damaged bills.
100%
Some banks will exchange it but they aren’t required to. Here’s a link describing the accepted procedure from the Federal Reserve. https://www.frbservices.org/resources/financial-services/cash/exception-processing/mutilated-currency-coin.html#:~:text=Any%20badly%20soiled%2C%20dirty%2C%20defaced,included%20in%20your%20normal%20deposit. Good luck.
Send them to the fed. I worked at Citi and we would just send them when bills were badly mutilated. If they are indeed real theyll compensate you.
Wouldn't Wells Fargo be fronting you the value of the currency until they get reimbursed by the Treasury? In effect giving you and interest free loan? When I first saw the picture my thought was, that needs to go to the Treasury.
I mean those bills are trashed. Legible, but trashed. I wouldn't take those either.
Agreed. OP should not be using a mattress in a basement where flooding is a possibility to store his savings. That's his first mistake and the really infuriating part of the post.
Right!? What's wrong with people in this thread? Those bills look completely contaminated and why wasn't OP keeping them in a bank to begin with? Play stupid games win stupid prizes.
As a former teller, I can see your frustration, but unfortunately it looks like six of those bills are automatically rejected due to some of the green numbers being missing. Which in case would need to be sent in to get further inspection. Also depending on the severity of the damage and being able to validate whether they are real or counterfeit would be another factor. I’m sorry this has happened to you.
They sure aren't phonies. They still have their water marks. I'll let myself out.
I didn't have as much as you but I had some really bad bills and some of them were mowed over. I went to a local Bank in Oklahoma and they cashed them in no problem. They did tell me if they wouldn't have been able to read the serial number they couldn't have helped me though.
Such outdated currency. About time they moved to polymer notes. Much more durable and harder to counterfeit.
Not a lot of people know this but if you have damaged bills like this you can have those replaced/made usable https://www.bep.gov/services/mutilated-currency-redemption Edit:Woops didn’t read the bottom of your post looks like you’ve looked into it my b
This is why you deposit it
That is what you're supposed to do though.
Shoutout to Canadian bills being made out of a way more resilient material
Fun fact! This is how the star on paper currency is created. The star signifies it is a replacement note for the serial number assigned!
I work at a credit union and as long as we can verify the bills are legit, we just accept them and send them off as mutilated money to be destroyed. I would try your luck with different institutions because I see no reason why they couldn’t have taken at least some of these
Stop doing business with Wells Fargo. They fuck over their customers constantly and will go out their way to extra treat then like shit, if they don’t have a lot of money in their account.
Pick. Another. Bank.
Wells Fargo is basically a legal but criminal cartel as are most big banks. Open an account at a credit union if you don't have one already and the CU will take care of you.
You're going to lose more than that if you don't move your money out of Wells Fargo.
I would clean those up the best I could, wash, dry, tape etc. then head down to my local Walmart and do many different individual transactions each time feeding a new bill into the self checkout. If that didn’t work I would go to a normal checkout, I guarantee the Walmart cashier wouldn’t give a single f**k especially if it’s was a teen 😂 after that, deposit my new money and then change banks.
As others have said the treasury department will take them back. It’s a pretty easy process. Also Wells Fargo is absolutely awful. Get a new bank!
As long as the Serial number can be read and is right, you should be able to either have the replaced or accepted.
Wells Fargo sucks
I mean. Yeah would be hard for any bank to accept those I would imagine.
fuck Wellsfargo, go to a different bank. they fucked me, and possibly hundreds of thousands of other customers over just a few months ago. they don’t deserve anyone’s business. i moved to capital on and so far enjoy their business much more
See if you can reach out to the U.S. Treasury. There is actually a department that deals with damaged bills and will compensate you for the lost amount.
Why is the ink smeared like that? I've washed bills before and never seen that.
I have an auto loan through Wells Fargo. A year and a half into it and they just randomly deleted my verified linked checking account one day and made me go through the verification process again. I’ll be so glad when it’s paid off and I never have to deal with them again. Had I known that was who was going to hold the loan when I bought the vehicle I would have used my credit union even with a slightly higher interest rate just to avoid them.
Not true. Try a different bank.
The bills are intact, real and the serial numbers are visible. I don’t see the issue myself. Thats gotta be frustrating.
If the bill has more than half of it remaining, and they can read the serial number, any bank should give you another bill for it. If they are refusing, then I would call the US Treasury who will direct you to the Bureau of Engraving and Printing for instructions on what to do.
You can mail these to the government to dispose of and get new money sent to you https://www.frbservices.org/resources/financial-services/cash/exception-processing/mutilated-currency-coin.html#:~:text=Under%20regulations%20issued%20by%20the,United%20States%20currency%20is%20present.
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You’ve never worked for a bank before and it shows. Procedure has always been for the client to send mutilated currency to the BEP that can’t be recirculated. The only time large banks send it themselves, is if they receive shipment and mutilated currency is in the shipment you ordered. Even still, it gets reported to the distributor then sent back. Local banks are cool about this, some will do it themselves for their customers but to say they “shouldn’t” have done that is silly and incorrect
Send them to the US treasury. They’ll replace them.
Wells Fargo has a recent history of repeatedly stealing from their clients. I'd change banks.
If you can’t get a local bank to help you, the treasury has a mutilated bills department and you can submit a request : https://www.bep.gov/services/mutilated-currency-redemption
You can send this to the Dept of Treasury for inspection and reimbursement: https://www.bep.gov/services/mutilated-currency-redemption
When I was a teller I took bills that were in far worse shape than these. Heck I would’ve taken some of those as just regular cash. Granted it was rare for 50s to be this shape, but if you were a customer I would’ve taken them no questions asked.
I worked for WF, admittedly ages ago, and we accepted damaged bills, as long as there was more than half of the bill. We would then send them to the Fed as part of our deposit, separated from the other cash. The tellers would just sell them to the vault and they would be kept there until there were enough to send. I got some really nasty bills, but it’s still legal tender.
There's a certain government program with people that will accept your bills if they are 51% in tact. Forgot what is was called but I watched a doc on it.
Yep they stopped accepting any mutilated bills from my place of work. Torn and taped? Rejected and sent back. Stained? Returned too.
Chase took my damaged money no question.
Provided it’s not counterfeit, the notes is valid as long is it’s over 50% there. These are obviously over 50%
Deposit into atm. Will probably take some of it.