HSBC and US Dollars

charmavietnam wrote:

I got bitter experience with HSBC banking when depositing US bills. They never accept a bill with dirt, ink depreciation or even staple marks! Last time I went to deposit some pieces but they rejected one piece because of staple mark. Then I go and change with a new model bill and deposit again. When they put the note in the fake note checking machine, it rejected the new note I told that girl it's a fake one by joke. Anyway she believed that joke and bring that bill to her superior to recheck. After a thorough check it confirmed as good bill!
Actually bank staff don't know about the new bills?
Is there anyone faced similar situations with HSBC?
In India bank receive any kind of bills whether it is dirty or even tear!

Charma,it's no different at all when it comes to VN polymer notes. If there's a a small piece missing or a taped up tear,the bank teller won't accept it. And if she does,only grudgingly. As you would know,in Cambo,any US bill with even the smallest tear has no trade value based solely on appearance.

When people handle bills, it's natural it become dirty or little damage. But why they cannot accept?

Whenever we took out cash in the USA to bring here we always exchanged bills that weren't perfect, knowing we would have this problem.  It does seem rather extreme.  The lightest wear, the smallest tear, and they won't take it.

charmavietnam wrote:

I got bitter experience with HSBC banking when depositing US bills. They never accept a bill with dirt, ink depreciation or even staple marks! Last time I went to deposit some pieces but they rejected one piece because of staple mark. Then I go and change with a new model bill and deposit again. When they put the note in the fake note checking machine, it rejected the new note I told that girl it's a fake one by joke. Anyway she believed that joke and bring that bill to her superior to recheck. After a thorough check it confirmed as good bill!
Actually bank staff don't know about the new bills?
Is there anyone faced similar situations with HSBC?
In India bank receive any kind of bills whether it is dirty or even tear!

It's pretty common practice in Vietnam to only want to accept "new" $100 dollar bills. The gold store where I change money doesn't seem to care though. One time I had a torn $100 bill and she just taped it up, gave me the same exchange rate, and said "It's still worth $100." Although it is pretty rare t find someone like that in Vietnam. When it comes to torn VND's I always use those at gas stations or restaurants. When they say no they don't want it, I tell them that's all I have so either they take it or it's free.

But even we try to give new they doubt
They need to get acquainted with the bills. If so they will receive!

Parmyd wrote:

It's pretty common practice in Vietnam to only want to accept "new" $100 dollar bills.

charmavietnam wrote:

But even we try to give new they doubt
They need to get acquainted with the bills. If so they will receive!

Parmyd wrote:

It's pretty common practice in Vietnam to only want to accept "new" $100 dollar bills.

I got 1 experience with the exchange boots on Nguyen Hue street, I received 27 bills of $100from the bank and went to the exchange for better price and 6 of them not "new" and they only bought with 19,000 (compared to 21,130, even lower than the price for $1 bill). I asked why and they said the bills were not in "good condition". I was angry and asked all my money back, then they agreed to exchange with the same price of other. Funny! So, I think just because they prefer the "new bill" and there is no problem with the old and dirty bills as long as it can be useable

Giving a lower exchange rate for less-than-perfect $100 bills is common practice here, although aibiet's experience is unusual. It's usually not that much lower - more like the rate they give for $1 bills. I agree she should have complained. What's worse is their lack of acceptance of their own less-than-perfect currency, which tends to infuriate me. But as another poster mentioned, if you have some, the gas stations and street vendors will usually take it. Especially the street vendors.

How can it possible a bill can keep always 'as new'? Of course, as a negotiable instrument it should handle by many including market vendors Is it possible for fish/food sellers to wash their hands always before receiving a bill to keep it clean?

charmavietnam wrote:

How can it possible a bill can keep always 'as new'? Of course, as a negotiable instrument it should handle by many including market vendors Is it possible for fish/food sellers to wash their hands always before receiving a bill to keep it clean?

Isn't that where money laundering comes in? Keep the notes clean.

jimbream wrote:

Isn't that where money laundering comes in? Keep the notes clean.

Yea, those gold stores are a great and the exchange rate is a bit better than the banks.

Not related to the money "laundering" issue, but a problem with the people there. When I open an account at HSBC a few weeks ago. I was given an envelope with the pin number to use the bank card. The HSBC showed me how to use the ATM machine. It would seem that the ATM machine does not require the pin access code for depositing money! When she showed my how to set up the Internet banking. I was told to enter my pin number. Having only landed 24 hours in the city, I was tired and suffering from jet lag, I enter what I thought my preferred pin number. After a few tries, she told me to try to use the ATM machine! All this time, I have the pin number in a sealed envelope! Anyway, the ATM machine took the card. Only then that I realized I have the sealed envelope un-opened! Long story short, I was told to come back in 5 business days to get a new card and pin number. It ended up taking 2 weeks!   I accept this kind of incompetency from a local bank but from a world class bank like HSBC!