Has your dog eaten your money? A boy was on his way to high school football game. In a hurry, he grabbed some cash and left the remaining bills on his bed. The dog saw his human leave and jumped onto the boy’s bed, his favorite spot. There were a few crispy green papers there to rip.
What to do when your dog eats your cash
It all depends on the bill’s condition. Whether a local institution will accept your damaged money will depend on its condition. Some credit unions accept disfigured cash if at least three-quarters of the bill is intact, including three corners; and the serial numbers are visible.
On the other hand,PNC Bank generally accepts damaged bills if more than half of the bill is remaining with a full serialnumber on one half and a partial on the other.
For intensely damaged bills, for example due to burning, exposure to chemicals or dyes, banks advise clients to contact the U.S. Bureau of Engraving and Printing. According to Comerica Bank, their policy is to refer customers to the Bureau of Engraving and Printing if 49% or more of the bill is missing or if the currency’s value is unclear.
The U.S. Department of the Treasury’s Bureau of Engraving and Printing has informationonline telling consumers what to do with mutilated cash.
What about money that passes through your dog?
According to Reuters reports, a man from Montana witnessed his Golden Retriever, Sundance, eat five $100. The man was able to recover the digested bills. He taped the money and took it to a local bank, but they would not accept it. He then mailed the billsto the Bureau of Engraving and Printing and eventually received a $500 check.
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The Bureau of Engraving and Printing’s website says thatdamaged currency may be mailed or personally delivered to the Bureau of Engraving and Printing in Washington, D.C.
The website said, “When mutilated currency is submitted, a letter should be included stating the estimated value of the currency and an explanation of how the currency became mutilated.”
How long does it take to have the money replaced?
The time it takes to get the money replaced varies depending on the extent of the damage and the overall workload. Standard claims can take six to 36 months to process.
Generally, the government wants to see at least 51% of each note. But there are alsocases where less can be exchanged, and that is if the Treasury is satisfied that the missing pieces have been totally destroyed.
About 20,000 to 30,000 individuals send money each year to the bureau to get mutilated currency replaced.
Image credits: Dog Shaming, TottenCoten412/Reddit, News4JAx
Source: Detroit Free Press