Travel Tip of the Day: Don’t Travel with Ripped Bills - (2024)

FAQs

Can you still use a $20 bill that's ripped? ›

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.

Many stores and merchants will not take torn or drawn-on bills, and even vending machines struggle to take heavily wrinkled ones. The good news is that even if a bill is torn in half, you can tape them together and exchange them at a Federal Reserve bank for fresh notes, as long as the serial numbers match.

Individuals, financial institutions, and businesses may contact the Department of the Treasury's Bureau of Engraving and Printing (BEP) if they are in possession of mutilated U.S. currency, meaning that the currency has been damaged to the extent that one-half or less of the original note remains, or its condition is ...

Often times, even financial institutions won't accept cash if it's too damaged. This is because the Federal Reserve does not accept deposits of mutilated money from banks and credit unions.

The currency “may be exchanged at commercial banks.” You could tape the green stuff back together but be warned that merchants may not accept the bandaged bills. If you have, what the government refers to as, “mutilated money” then you can send the cash off to the Treasury for exchange.

You can use your cash as is if a corner is missing. If it's ripped into two pieces, tape them back together and take the bill to a bank, where they will make sure the serial numbers on both sides of the note match and give you a new one.

If the currency was flat when mutilated, do not roll, fold, laminate, tape, glue or in any other way alter the currency in an attempt to preserve it. If the currency was in a roll when mutilated, do not attempt to unroll or straighten it out.

How long does the mutilated currency redemption process take? The amount of time needed to process each case varies with its complexity and the case workload of the examiner. Standard requests can generally take from six months to 36 months to process depending on the condition of the currency notes.

If you violate laws related to coins and currency, you could be charged with a federal crime and could face the potential for jail time or other serious penalties. You could also be left with a criminal record.

Do banks accept damaged notes? ›

(1) A torn banknote

Please check the features of each piece carefully, such as the serial number, printed patterns, and color, to avoid sticking pieces of different banknotes together. The Bank may judge banknotes torn into shreds as having no value if they cannot be identified as pieces of the same banknote.

Most bills will remain intact in the washer and dryer. But while a wash cycle may make your money look untainted, it nonetheless ruins the bills; hot water can damage security features, and detergents change the way cash reflects light, which currency-sorting machines detect. Banks shred washed money.

Keep cash safe when travelling

The safest place to keep your money secure will most likely be in your hotel room safe. If you don't have one (or if you really need to carry cash with you) try keeping your money in a: Money belt. Neck pouch.

Under section 333 of the U.S. Criminal Code, “whoever 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, ...

Most financial institutions will replace damaged bills as long as you have all the pieces and the serial numbers on both sides are intact.

No, you do not have to trade in your old-design notes for new ones. All U.S. currency remains legal tender, regardless of when it was issued.