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

[wrazoru]

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...)

[theoldgit]

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.

[wreckingcountry]

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!

 

 

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Edited September 16, 2019 by blackcab
Name of currency exchange removed

[blackcab]

Moved to the Banking Forum.

[worgeordie]

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

[Golden Triangle]

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.

[scoutman360]

I noticed the same thing. I had hand carried a very handsome some of money back to the U.S., but fortunately my bank in the U.S. didn't question it.

[geisha]

Ive bought a stack of $ in superich and they’ve never markedly the bills. Also, the bit about a different exchange rate is rubbish. Why did you accept ? 

[Apiwan2]

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...)

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

[david555]

If they accept only pristine unmarked bill's here in Thailand on the exchangers , so we are also entitled to the same when collecting money bills, should have refused them and go somewhere else 

[LomSak27]

 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. 

[wrazoru]

4 hours ago, wreckingcountry said:

Problem is someone you are paying may well not accept those bills!

 

Apparently, the bills won't be accepted in Bali, Mynamar & Maldives... 
according to SuperRich cashier.

Edited September 16, 2019 by wrazoru

[Just Weird]

21 hours ago, wrazoru said:

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

It's only illegal in the US, if the note is defaced...

"...with intent to render such bank bill, draft, note, or other evidence of debt unfit to be reissued..."

[SteveK]

Whether it's legal or not, you are now going to find it almost impossible to change those bills.

[KhunBENQ]

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.

Edited September 17, 2019 by KhunBENQ

[geisha]

MARKing is one thing, changing the rate from the one in the shop is another. Scam. 

 

[jacnl2000]

No need exists to mark notes having unique serial numbers.




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[clearance]

Got some $100 bills with same markings in CentralWorld Superich. In my country has to pay 10% to bank to exchange it. So check all your bills after exchanging in Superich.

[Monomial]

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.

 

[hellohello123]

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

[Bangkok Barry]

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.

[Suradit69]

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?

 

 

[Time Traveller]

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   

Edited September 19, 2019 by Time Traveller

[Time Traveller]

On 9/17/2019 at 1:15 AM, SteveK said:

Whether it's legal or not, you are now going to find it almost impossible to change those bills.

You're not crazy. No, not at all.

[Time Traveller]

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. 

Edited September 19, 2019 by Time Traveller

[Lacessit]

It baffles me why the OP did not walk away immediately.

[elgenon]

The currency exchanges I frequent in Thailand won't accept dollars that have been marked in any way or even with tiny tears at the folding.

 

But they can give me baht that are are marked.

[Just Weird]

18 hours ago, Bangkok Barry said:

 

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.

You don't have to accept them!

[MadMuhammad]

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 

Edited September 20, 2019 by MadMuhammad

[Just Weird]

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

In retrospect, Fiat Currency is universal

It's called "fiat" currency, not "Fiat" [sic] which would be currency issued by an Italian motor manufacturer.