Jump to content

Is it ILLEGAL that a currency exchange MARKED my US$100 Bills...???


Recommended Posts

First of all... technically it's illegal in the USA: 
https://www.foxnews.com/politics/president-obama-wont-sign-dollar-bill-noting-its-a-crime


I found out because the cashier at a currency exchange near Victory Monument asked me WHERE I was using the money US dollar bills. In retrospect, Fiat Currency is universal so why should it matter where I use it? Anyway, my next trip was to Bali so I told him.
 

He replied immediately that suddenly there is a DIFFERENT RATE (WORSE RATE) than what is quoted on his exchange board if the US dollars will be spent in: Bali, Myanmar, Maldives.... HUH??? 
 

So then I told him, I will not be using the bills in either of these 3 countries. With which he replied that he will be marking the bills, with a rubber stamp he has specifically to mark the bills he cashes out to me. HUH?... isn't this technically illegal! 
 

I didn’t have time to argue with him, and his explanation was in Thai so neither did I understand why... and of course I preferred the better exchange rate, so I accepted the marked bills. 


However, why are they doing this? Especially when it’s likely to be ILLEGAL!


(See the marks that they made in the images attached...)

Marked USD Bills.jpg

Link to comment
Share on other sites

When I visited the Bureau of Engraving and Printing in DC many years ago, somebody asked a similar question, as I recall we were told that if you mark a bill with the intent to make such bill unfit to be reissued or to alter it's denomination, you can be fined or imprisoned.

The guide added that often banks marks notes and sometimes people add political messages, both of which were acceptable.

This was the view of a tour guide at the Bureau, not a lawyer, but it stuck in my mind.

Link to comment
Share on other sites

Don’t use them. They have no right to mark currency! Of course in Thailand “ laws “ have an interpretation which are loose ! They probably did it to check if you wanted to change back to Baht ! Problem is someone you are paying may well not accept those bills!

 

 

Sent from my iPhone using Thaivisa Connect

Link to comment
Share on other sites

If you are going to exchange them in Indonesia,you might have

a problem,in Jakarta had a hell of a job changing some THB,

because they had marks on,little tears,bit dirty,had to take 

10 % less at a money exchanger,the only one who would do

it, it's the same as the banks in Thailand,Bangkok Bank the

worse.

regards worgeordie

Link to comment
Share on other sites

Not sure about what's happening with your $ bills there, but when I used to holiday here back in the early 2000's I used to bring pristine unused £50 & £20 notes as I discovered that the banks here were very reluctant to change any notes that had any marks on them, you could find it difficult to exchange them at a local bank here.

Link to comment
Share on other sites

I recently changed some GBP at super rich in central east ville.

He gave back 1 fifty note saying it could not be changed because it looked old and something else.

2 weeks later went back to the same place and put the said fifty in with some others and they changed it <deleted>.

I wouldn't want anyone putting a stamp on my money you don't know where you can and can not use it .

First of all... technically it's illegal in the USA: 
https://www.foxnews.com/politics/president-obama-wont-sign-dollar-bill-noting-its-a-crime


I found out because the cashier at a currency exchange near Victory Monument asked me WHERE I was using the money US dollar bills. In retrospect, Fiat Currency is universal so why should it matter where I use it? Anyway, my next trip was to Bali so I told him.
 

He replied immediately that suddenly there is a DIFFERENT RATE (WORSE RATE) than what is quoted on his exchange board if the US dollars will be spent in: Bali, Myanmar, Maldives.... HUH??? 
 

So then I told him, I will not be using the bills in either of these 3 countries. With which he replied that he will be marking the bills, with a rubber stamp he has specifically to mark the bills he cashes out to me. HUH?... isn't this technically illegal! 
 

I didn’t have time to argue with him, and his explanation was in Thai so neither did I understand why... and of course I preferred the better exchange rate, so I accepted the marked bills. 


However, why are they doing this? Especially when it’s likely to be ILLEGAL!


(See the marks that they made in the images attached...)

1940837237_MarkedUSDBills.jpg.5a89a8413467cd5a8479867a32795477.jpg


Sent from my SM-G965F using Thailand Forum - Thaivisa mobile app

Link to comment
Share on other sites

 Siam Exchange did the same thing to me years back before a Myanmar trip. First five or six bills were clean, I stopped checking and then the next five all had marks. Good bills legitimate currency, but Myanmar being finicky would not take them. Yes, really <deleted> me off too.  Never used Siam Exchange since.

 

I keep a little stash of US bills brought from home. I can always exchange in Thailand but it is more a travel stash. For Myanmar, Indonesia etc. I have a couple hundred Euros in there too. Always good to have. 

Link to comment
Share on other sites

22 hours ago, wrazoru said:

at a currency exchange near Victory Monument

Sounds like one has to keep a good distance from Victory Monument for cash exchange.

I am completely clueless what this rubbish stamping earns him?

Otherwise it would be a very inventive scam.

I would be confronted with such I'd grab my money and run.

Link to comment
Share on other sites

Don't accept any bill with a mark on it, or a hole in it. Just hand it back. If they won't give you a clean bill, then go somewhere else.  If this guy actually defaced the bills in front of you to make it difficult for you to exchange, then I would have just taken my baht back and walked away.  That is just spiteful. They can, of course, try to pawn off anything on you, but you are not obliged to accept it, and there is never an excuse for trying to give you a different rate than what is posted.

 

Link to comment
Share on other sites

On 9/16/2019 at 9:00 PM, wreckingcountry said:

Don’t use them. They have no right to mark currency! Of course in Thailand “ laws “ have an interpretation which are loose ! They probably did it to check if you wanted to change back to Baht ! Problem is someone you are paying may well not accept those bills!

 

 

Sent from my iPhone using Thaivisa Connect

these comments reminded, approximately 20 years ago (not in thailand) i worked in a casino, and did foreign currency exchange, we accepted virtually every currency, but for the CNY (Chinese Yuan) we were told by the managers , if it had any marks on it, pen or pencil, to reject it,

 

Never knew why, still dont,

 

so customers would bring piles and piles of notes, of 100 CNY, and we would spend minutes each transaction filtering out the ones with marks on them, most customers had unmarked notes, but the odd customer had 90% with a few marks on them.

they were pretty annoyed, which is fair enough

Link to comment
Share on other sites

On 9/16/2019 at 6:20 PM, worgeordie said:

If you are going to exchange them in Indonesia,you might have

a problem,in Jakarta had a hell of a job changing some THB,

because they had marks on,little tears,bit dirty,had to take 

10 % less at a money exchanger,the only one who would do

it, it's the same as the banks in Thailand,Bangkok Bank the

worse.

regards worgeordie

 

And then if you do eventually find someone to accept the notes with a one millimetre tear they give you their own filthy torn notes in exchange. Really pisses me off.

Link to comment
Share on other sites

On 9/16/2019 at 6:00 PM, wreckingcountry said:

Don’t use them. They have no right to mark currency! Of course in Thailand “ laws “ have an interpretation which are loose !

There's a law in Thailand about marking US currency?? Or are you saying Thailand is obliged to enforce  US laws?

 

In the US the law speaks to behavior AND INTENT. 

Quote

[W]hoever mutilates, cuts, defaces, disfigures, or perforates, or unites or cements together, or does any other thing to any bank bill, draft, note, or other evidence of debt issued by any national banking association, or Federal Reserve bank, or the Federal Reserve System, with intent to render such bank bill, draft, note, or other evidence of debt unfit to be reissued, shall be fined under this title or imprisoned not more than six months, or both. [Emphasis added]

If you Scotch tape together a torn bill you won't be hauled away in handcuffs.

 

On 9/16/2019 at 5:29 PM, wrazoru said:

In retrospect, Fiat Currency is universal so why should it matter where I use it?

What does that mean? Universal?

At one time it was against Cuban law for Cubans to possess US dollars.

I have a feeling if someone flashes a US $100 in a North Korean supermarket he'd have unexpected guests around for a tête-à-tête with friends in uniform before long.

 

I've got some currency from Zimbabwe. I have a feeling a Big C Extra cashier wouldn't be in a universal currency frame of mine if I plonked down some Zim dollars for my weekly groceries.

How is fiat currency universal?

 

 

Link to comment
Share on other sites

OP, first time in Thailand buddy?

Ok dude, you just need to calm down. Marking bills is not illegal. Nor is it "technically illegal" as you say - (whatever that means).

The law as it stands in the US is that defacing or marking bills WITH INTENT TO DEFRAUD is illegal. A stamp or check mark is not considered an intent to defraud.

 

So if you don't understand why currency exchange and banks put a stamp on all currency they give out let me tell you why. Some unscrupulous customers like to claim that they were given fake bills by the money changer. So, when they return to the currency exchange with their counterfeit currency without the stamps then it's obvious to the FX exchange staff that this scammer did not get the bills from them. It primarily to protect themselves against currency scams. 

 

"Oh, they never stamp my bills" someone will say. Well yes they do, but you don't see anything because some of the smarter places use ink that can only be seen under UV light.

 

And don't worry, no one cares that there is a little check stamp on the bills. You will be able to exchange them freely   

Link to comment
Share on other sites

22 hours ago, Monomial said:

Don't accept any bill with a mark on it, or a hole in it. Just hand it back. If they won't give you a clean bill, then go somewhere else.  If this guy actually defaced the bills in front of you to make it difficult for you to exchange, then I would have just taken my baht back and walked away.  That is just spiteful. They can, of course, try to pawn off anything on you, but you are not obliged to accept it, and there is never an excuse for trying to give you a different rate than what is posted.

 

And another one ! What's the deal? Do you guys get your rocks off on trying to make the OP paranoid by saying his money is worthless? 

The bills are perfectly fine, they'll be accepted. 

Link to comment
Share on other sites

On 9/16/2019 at 6:47 PM, Apiwan2 said:

I recently changed some GBP at super rich in central east ville.

He gave back 1 fifty note saying it could not be changed because it looked old and something else.

2 weeks later went back to the same place and put the said fifty in with some others and they changed it <deleted>.

I wouldn't want anyone putting a stamp on my money you don't know where you can and can not use it .

 


Sent from my SM-G965F using Thailand Forum - Thaivisa mobile app
 

 

I've had similar problems in the past. I had some success with polite insistence that they change the note as it was issued directly from a financial institution. Just hang on to any receipts from a bank when withdrawing any sum of cash and present it when there is a problem, they seem to accept that 

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

  • Recently Browsing   0 members

    • No registered users viewing this page.




×
×
  • Create New...