Page 1 of 2 12 LastLast
Results 1 to 10 of 13
  1. #1
    Platinum
    Join Date
    Jan 2002
    Posts
    12,268
    Post Thanks / Like

    Default Check Money for Damage very Carefully!!

    There have been a couple of threads on this in the past, but now that the deadline for replacing damaged bills at a bank has apparently passed, it is well worth emphasizing again.

    A couple of close calls as examples. When my wife tried to pay the supermarket with an almost-new RD$500 bill, the fine-tooth-comb scrutiny by the cashier discovered a tiny tear in one corner, less than 1/4 long and virtually invisible unless you looked very carefully. The bill was rejected. Fortunately there was still a day left to exchange the money, so no loss but a lesson learned.

    Yesterday after changing dollars I paid the Codetel bill. Among the bills given the Codetel cashier was a RD$100 on which she found a tiny ink smudge on the bank, similar to what might happen if you picked up a bill when you had an ink stain on your finger. The bill was rejected. Fortunately this happened soon enough after changing dollars so that I could take it back to the exchange bank for a replacement, but a lesson reinforced.

    I think this policy of the government is going to create as many problems for the people as the short-lived adoption of daylight savings time. Especially since the paper used by the Dominican Treasury is so flimsy. Small tears after a little use are almost certain.

    The only protection you have is to carefully inspect both the front and back of every bill you receive, no matter the source. Do not take for granted that any are really legal tender. Also, you can anticipate longer waits wherever you pay bills or for purchases as the cashier checks each bill given by a customer/client and then the customer/client does the same with the change.

    I read in a recent dr1 news summary that an organization of businessmen had urged the government to again extend the period for exchanging damaged currency. If it doesn't, there are likely to be major complaints as people who have not been carefull discover that they have a considerable sum in bills that can't be spent.

  2. #2
    Gold
    Join Date
    Oct 2002
    Posts
    7,668
    Post Thanks / Like

    Default

    Would echo this caution. Twice this morning in Cabarete my money was turned down - went straight back to the Cambio where I exchanged it and got new money!

  3. #3
    Goddess
    Join Date
    Jan 2002
    Posts
    3,580
    Post Thanks / Like

    Default

    Thanks for the reminder Ken. In the current situation one can't be too careful with whatever shrinking/vanishing money one comes across.

  4. #4
    Platinum
    Join Date
    Jan 2002
    Posts
    16,409
    Post Thanks / Like

    Default

    When is the dead line Ken?

  5. #5
    Platinum
    Join Date
    Jan 2002
    Posts
    12,268
    Post Thanks / Like

    Default

    It is past the deadline, Anna, unless it is extended again. Commercial establishments have until the 30th, but the rest of us are stuck. You may still find someone who isn't checking money, but I believe that in supermarkets and other businesses where there are cashiers that the cashier has his/her pay deducted for whatever "bad" money they take in.

  6. #6
    Gold
    Join Date
    Jan 2002
    Posts
    7,398
    Post Thanks / Like

    Default

    SO what the heck happens if you accidently trash a bill? How many time have you caught the corner of a bill and a piece came off?

    Something is wrong if they don't consider that these bills don't last and wear out.

  7. #7
    Silver
    Join Date
    Jan 2002
    Posts
    3,438
    Post Thanks / Like

    Default

    I heard the Federal Reserve Bank in Santiago will change all the old or dammaged bills. Perhaps AZB or one of the guys in Santiago can check this out.

  8. #8
    Platinum
    Join Date
    Jan 2002
    Posts
    12,268
    Post Thanks / Like

    Default

    The notice that was put out said the money could be changed for individuals up to Jan 24, and up to Jan 30 for commercial establishment.

    There was a plea reported in the dr1 news summary several days ago asking the government to extend these deadlines once again (this was initially announced to be implemented some months ago). I hope we will get notice that the deadline has been extended further.

    Re accidental damage to a bill, jazzcom, you are 100% correct. Especially considering the quality of the paper used, it is very, very easy to accidentally damage a bill in some way. I have no quarrel with the government's desire to get the damaged bills out of circulation, but we should have the right to take them to the bank and exchange them for undamaged bills.

  9. #9
    Silver
    Join Date
    Jan 2002
    Posts
    3,046
    Post Thanks / Like

    Default New Drop Dead Date

    There are reports from today's, the 29th, papers the Central Bank has extended the deadline to exchange damaged bills for three months. April 30 is the new drop dead date. Regards, PJT

  10. #10
    Platinum
    Join Date
    Jan 2002
    Posts
    12,268
    Post Thanks / Like

    Default

    Wonderful news, PJT.

    Have you noticed how much more careful everyone is with the bills they receive? I can't speak about the entire country, but the small sampling that I have come in contact with is certainly taking a much closer look at the bills they receive. Yesterday, for example, riding in a publico to Puerto Plata, I saw the driver turn down a 100 peso bill because of some small mark, and a passenger turn down a 10 peso bill given her by the driver because of a small mark she was afraid wouldn't pass the scrutiny of the cashier in the store.

Page 1 of 2 12 LastLast

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •