ATM Dispenses Fake Cash

When customers of the Canadian Imperial Bank of Commerce tried to withdraw cash from the bank's ATM, instead of money they received "colorful bills used as incentives at Canadian Tire Corp. hardware stores." So what do you do if an ATM gives you funny money instead of real bills? An article in the Charlotte Observer (requires obnoxious registration) gives this advice: "Don't walk or drive away from the teller window without checking the money first... Once you leave the teller, fake bills are your responsibility. If you're at an ATM, go into the bank and ask for a replacement... If the bank's closed, you're likely out of luck." Of course, if you do find yourself stuck with fake cash you could always try using it to buy pizza and soda at a school cafeteria, as these students did.

Business/Finance

Posted on Sun Dec 05, 2004


Comments

A few years ago when I was in high school, there were a group of seniors who were a part of a conterfeit money scam, kind of like the students in the article on the bottom of the entry. They printed $20 bills and then would buy food in school with them and keep the change. They got caught because one of the lunch ladies thought the bill was a little funny looking, and when he questioned the boy who gave it to her he took off running (yah, he wasn't so bright. I would have just put a blank look on my face and said i think the bill may have come from an atm machine =), not that I would ever counterfeit money =/). It was pretty cool though because the FBI actually came to our high school to arrest all the boys involved.
Posted by Razela  on  Mon Dec 06, 2004  at  02:54 AM
I have one of those pens that you can use to check for counterfeits. If I found a counterfeit...unfortunately I'd probably try and spend it, simply b/c of the lack of options there are in trying to exchange it for real cash. I only say unfortunately b/c I wish I could be more honest about it.
Posted by Maegan  on  Mon Dec 06, 2004  at  09:54 AM
I strongly, very strongly, recommend not to follow the advise to try to pass on counterfeit money you got. It might be tempting to try it, but spending money you not to be counterfeit can get you into very serious legal troubles. Better notify the cops about it (you won't get it exchanged for genuine cash, though, but at least you're obeying the law).
Posted by Schnitte  on  Mon Dec 06, 2004  at  11:51 AM
Is there any indication of how much Canadian Tire money was given out versus the correct amount of real currency? Canadian Tire money is used as cash in any Canadian Tire store across Canada; (they are automotive, hardware, sports and houseware-based department stores with plenty of selection). It's collected for charitable donations, and can quite easily be sold at a modest premium (say, 90 cents on the dollar). I would think that anyone in Canada would willingly accept a larger amount of this "funny money" in lieu of real cash.
Posted by Joel  on  Mon Dec 06, 2004  at  12:53 PM
I haven't run across any fakes yet...and I certainly don't want to get arrested. Now that I think about it...I may not have the nerve to spend it. OR...I might stick it into a stamp machine & get a handful of dollar coins. Either way...bad idea.
Posted by Maegan  on  Mon Dec 06, 2004  at  12:57 PM
Canadian Tire Money can also be used as rteal currency at lick's restaurants.
Posted by mr man  on  Mon Dec 06, 2004  at  01:51 PM
...and in the U.S. we can't find a use for all the damn Canadian change.
Posted by Maegan  on  Mon Dec 06, 2004  at  02:29 PM
We had someone at my school try to pass a fake dollar bill in to the change machine one time.
Posted by Dany  on  Mon Dec 06, 2004  at  04:15 PM
Yeah, I've got some real Canadian money I can't spend (nobody in Texas wants it). Do you s'pose I could get somebody to give me some of those tire bucks for it?
Posted by Big Gary C  on  Mon Dec 06, 2004  at  05:53 PM
Ahh, the largest Canadian Tire bill I have received or seen is $2 (not from an ATM). The smallest Canadian bill I have received from an ATM is $10. Sorry, does not add up.
Posted by Jim  on  Tue Dec 14, 2004  at  10:00 AM
Just as a funny, I know for a fact that coins from Panama, (the country, not the city), are made to US metal specifications and do work in vending machines. They use American dollar bills in Panama and the economy is based on the dollar. However, your dollar goes much farther there so it would be a losing proposition to use their coins here.
Posted by Evan  on  Tue Dec 14, 2004  at  03:18 PM
That smells like bullshit to me. ATM always give real cash, they just don't give Canadian Tire Money.
Posted by Tag  on  Fri Jun 16, 2006  at  06:27 PM
EW MAN.. LISNTE TO ME EVYER ONE!!! I DEAL WIHT THE MOENYS. AND WHERE IGET MY MOPNEY U DONT NO IF IT IS REAL OR NOT.. BUT WHEN YOU GET HOME AT NIHGT NAD CHEKC YOUR MONEY THEN U CAN CHECK IT IF ITS FAKE OR NOT.. AND WHEN ITS FAKE I STRONLY ADVIST TO TRY TO PASS IIT ON.. I NO ITS WRONG BUT ITS HTE BEST U CAN DO.... BEUCASE HTE KINDA OF MOEY I DELA WIHT IS A LOT($200 TO $1000) A DAY OS YE. THATHS MY ADVIST
Posted by RASTA  on  Wed Jun 27, 2007  at  12:51 AM
I doubt an atm would pass Canadian Tire money...
BTW can't you spend canadian quarters in the US?? And I can't imagine having 1 dollar bills instead of coins...how odd. and no Twoonies! I feel sorry for you USA people 😛
Posted by Paul  on  Wed Jan 30, 2008  at  08:35 PM
one time i got counterfeit money when i was about 12 i guess it was a fake five i thought i looked alright and the paper felt similar but it didn't have the raised ink feeling so i shreaded it i with i would have known what to do with like give it to the police oh well its too late now
Posted by Mike  on  Tue Apr 08, 2008  at  10:45 AM
I've been a CIBC customer for the last 10 years and I never had problem with them. This story is funny though - you need a lot of Canadian Tire money to compensate you even for the smallest real bill 😊.
Posted by CIBC customer  on  Wed Aug 27, 2008  at  09:06 AM
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