It’s Your Money > Money Exchanging

Are One hundred dollar bills without digital codes accepted?

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Pelican:
I've hoarded cash over the years, and wish to make the best use of them, now.  I hope this is not a serious problem.  (I once believed 'Travelers-Checks' meant what they said, but found they were not accepted by anyone.)  I need sensible advice so no new tragedy occurs.  I possess old, hundred dollar bills without the modern digital codes on them.  Do I use a money exchange, or must I, and can I, deposit then into a Philippine bank.  Would the bank delay, or hesitate authenticating approval?   

BudM:

--- Quote from: Pelican on March 19, 2018, 06:07:47 AM ---I've hoarded cash over the years, and wish to make the best use of them, now.  I hope this is not a serious problem.  (I once believed 'Travelers-Checks' meant what they said, but found they were not accepted by anyone.)  I need sensible advice so no new tragedy occurs.  I possess old, hundred dollar bills without the modern digital codes on them.  Do I use a money exchange, or must I, and can I, deposit then into a Philippine bank.  Would the bank delay, or hesitate authenticating approval?   

--- End quote ---

I am not sure, but I think any USD bill older than a certain series, you might have a problem with as far as using them in the Philippines.  I think I remember some time a few years ago, I had a 2002 or 3 series or maybe something like that or older and the ex-changers turned it down.  I finally got rid of it though and don't remember exactly how but I think I got my bank to take it by depositing it in my USD account.  The place I will take USD from is my bank and I check all notes and see what they are giving me.  Same thing if counterfeit.  There is only one place I get my USD from so if I get a counterfeit or a note too old, I know where it came from and on the back of the withdrawal slip that the bank has, the teller has listed the notes she gave me by serial number of which I initialed off on receiving.   So, that being said, you might want to give a bank a call and ask them about it.  Get it from the horse's mouth.

jjcabgou:
You "hoard" one hundred dollar bills and are asking advice on a public forum as to what to do with them?   Scratching my head as my questions pop into my small cranium  :)

Lee2:
I wish someone would have a guaranteed answer for you but I doubt anyone will. My best guess is if they are crisp with no damages then there is likely places that will take them, I know that I had deposited some a couple of years ago but everything changes all the time in the Philippines and can be different from bank to bank of the same brand and even money changer to money changer, so there is never a guarantee, one thing I can tell you is that it can be a problem carrying more than U.S. $10,000 in cash into the Philippines without declaring it and declaring it brings up all types of other issues that could arise.

Also if you do not have an account here then banks will not take your bills since they even hold cash deposited for one week to make sure none are counterfeit.

One thing I know for sure is that whenever I or friends have withdrawn $100 bills from banks in Cebu, they are always the new crisp bills. One time recently I tried to deposit a few thousand dollars in brand new bills and the bank rejected a few bills saying they had a damage on the corners, I could only see the damage under a magnifying glass when I got home but I learned a long time ago that arguing here is likely useless, so I took it to a money changer and they took it.

You can call a money changer we used in the past that is in Robinson's, to call Cebu Philippines from the U.S. is 011 63 32 then 255 8992 is the number of that money changer and the owner is Loy if it is a large amount then talk to her, and another big one here that is popular in Ayala is Core Pacific  415 5263, make sure you know who you spoke to if they say yes and tell them the year the bills were made to be sure they understand what they are.

jjcabgou:
ok I am being an "ass", but I am still a little baffled as to why an adult would have to ask what to do with their money.   Unless an individual does not understand what a bank is, or money exchange services, and has no ability to do a search on the internet.    Or why hoard 100 dollar bills in your home?   If you live in the Philippines then you can have a bank account, why not just have deposited them in your account? 
Instead of asking here, why not just take a hundred dollar bill to the bank and try to exchange it, or to a local western union or to a ...?   If they refuse, they are not going to confiscate your money.     
The question is just somewhat bizarre to me  ??? ::) ;D :-\

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