Say goodbye to these bills

If you are one of those people who still pay in cash, and above all, who do not look at the bills they pay with… You will have to pay special attention starting this month of October (2024), especially to one-dollar bills.

Walmart has informed its customers that it will no longer accept one-dollar bills that have visible damage on them. With this, they seek to reinforce the security of the country’s monetary system.

Which bills will be rejected at all Walmarts?

Those bills that have tears, cut edges or those that are quite deteriorated as a result of the passage of time or humidity. These will no longer be accepted in stores, banks or ATMs, so if you have any… try to get rid of them as soon as possible.

This decision is driven by a need to modernize monetary systems and also to try to stop the counterfeiting of these bills, so, overall, it responds to a need to improve consumer confidence in the authenticity of the money in circulation.

What will the changes be in the bills?

The country’s monetary system has justified this new policy by arguing that counterfeiting of banknotes is a problem that generates millions of dollars lost practically every year. With this new acceptance standard, and the fact that the design of the banknotes will also be different, the objective will be to make it more difficult for those who produce and distribute counterfeit banknotes.

Of all the changes that will take place, the most notable is the USD 50 bill, which will be updated in 2028, followed by the USD 20 bill, which will undergo changes in 2030.

It is estimated that the USD 5 and USD 100 bills are also waiting their turn to be redesigned soon.

What will change in the bills?

The bills will again include new security features, such as the famous “security threads” with microprinting, 3D bands that will change color as you tilt the bill, and special inks that react under ultraviolet light

What does this mean for customers?

For those who use cash, this policy might be a little inconvenient, especially if they’re not used to checking the condition of their bills. Here are some tips:

• Check your bills before you leave home or when you pick them up at the ATM.
• Avoid accepting damaged bills for any cash payments.
• Check with your bank about exchanging damaged bills if you have any.

If you find it difficult to handle cash in these conditions, Walmart also accepts debit cards, credit cards, and mobile payments, which can be a more convenient alternative in these cases.

What to do with damaged bills?

If you have badly damaged bills, you can take them to the bank to have them exchanged. Banks will usually accept these bills and exchange them for ones in good condition, as long as they are recognizable and have more than 50% of their size intact. In extreme cases, you can also send them to the Treasury Department for review and possible exchange.

Walmart has been putting several technology into place to safeguard its transactions. They previously made investments in security measures that aid in identifying fake currency and averting cash issues. Their dedication to security (not only for their clients, but also for their staff and the financial system) is reaffirmed by this new policy.

While other large chains like Target and Costco have taken similar measures in the past, Walmart is the first to strictly enforce this policy in all of its stores across the country, so, you know, try to get rid of these bills as quickly as you can!