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ripped money - what can i do with it?

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i_have_ADD +

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ripped money - what can i do with it?
a few weeks ago a $20 note with a humungous chunk ripped out of it on the corner mysteriously turned up in my wallet. i think i must have got it in change somewhere as i would have noticed if this single note had been handed to me in a store.

about a quarter of it is missing so anytime i try to use it the person i'm handing it to generally thinks i'm trying to rip them off. i was told to take it to a bank and they would replace it with a fresh $20 note - when i took it in to a branch the woman acted as if i was crazy and then told me i had to take it to a 'bigger bank' and that they would only give me money to the size of the note (so because there is about 75% of the original note i'd only get $15). this seems really weird to me, but i dont really care i just want to get rid of this stupid note.

does anyone know, where should i take it to get it replaced?
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At my work we're no longer alowd to accept any damged money at all, even if it has been sticky taped back together as the local commonwealth wont accept it.
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just take it to a 711 and buy some microwave burger or something with it. They prolly wont blink an eye
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Quote:

Originally Posted by M_adz

just take it to a 711 and buy some microwave burger or something with it. They prolly wont blink an eye

^^ I agree, if they give you any lip, give them a stare and look around at things like your going to start some shit

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Originally Posted by pEAkeR_hAT View Post

Any sex enthusiast should whore it up at least once in their life IMO,
Its the oldest profession in the world.
Are you calling everyone wrong?.

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Quote:

Originally Posted by M_adz

just take it to a 711 and buy some microwave burger or something with it. They prolly wont blink an eye

and if they question you, just say that THEY gave it to you as change last week.
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Quote:

Originally Posted by Breakme

and if they question you, just say that THEY gave it to you as change last week.

then start some shit

Quote:

Originally Posted by pEAkeR_hAT View Post

Any sex enthusiast should whore it up at least once in their life IMO,
Its the oldest profession in the world.
Are you calling everyone wrong?.

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just start some shit

then claim they broke the $20 note whilst shit was being started.
fck mnml the new buzzword is maximal
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The Reserve Bank of Australia has a policy for this.

Quote:

DAMAGED NOTES

The Reserve Bank of Australia (RBA) aims to have only good quality notes in circulation. This helps to maintain confidence in Australia’s currency by making it more difficult for counterfeit notes to be passed or remain in circulation.

It is not possible to remove damaged notes from circulation immediately any damage becomes obvious – nor is it necessary when the damage is only minor. Minor damage does not prevent ongoing use of a note or affect its value. The RBA works with banks, other authorised deposit-taking institutions such as building societies and credit unions, and cash centre operators such as armoured car companies to remove damaged notes from circulation as soon as practicable.

A genuine note that has become worn or sustained minor damage in circulation can be exchanged for full face value. These notes are classified as unfit notes and may have small pieces missing or small holes (less than 20 per cent of the note missing in both cases), have been torn, have heat damage affecting less than 20 per cent of the note, have adhesive tape on them or have been stapled or defaced. These notes can continue to be offered and accepted in transactions because they are worth full face value. The RBA asks banks, other authorised deposit-taking institutions and cash centre operators, to remove unfit notes from circulation when they are returned to them by their customers.

When damage to a note is such that a piece of the note is missing, i.e. the note is incomplete, the RBA needs to take into account the possibility that both pieces may be presented for value separately. It is clearly not sustainable to exchange each of the pieces for full face value. If two people have two pieces of the same note, the RBA’s policy is that the most equitable outcome is for each person to receive a share of the value equal to the proportion of the note they hold. The combined value paid should be the face value of the original note.

The RBA adopts the following policy1 for determining the value of damaged notes where pieces are missing:
If less than 20 per cent is missing: The note is regarded as unfit and full face value is paid, even if the note is otherwise worn.
If between 20 per cent and 80 per cent is missing: The note is regarded as incomplete and value is paid in proportion with the percentage remaining, e.g. half face value if half the note is present, even if the note is otherwise worn. The presence or absence of specific features such as the serial number(s) or the clear window is not a factor when determining value.
If more than 80 per cent is missing: No value is paid.


Banks and other authorised deposit-taking institutions are authorised by the RBA to accept, assess and pay value for incomplete notes presented to them, and most do that. Assessed value is based on the surface area of the note remaining, rounded to the nearest dollar. The RBA provides grids to banks and other authorised deposit-taking institutions to assist them with calculation of value of incomplete notes. An Incomplete/Badly damaged/Contaminated Australian Note(s) Claim Form must be completed by the holder of incomplete notes when they are presented for assessment/payment. Because full face value is not paid on incomplete notes, care should be taken when accepting such notes. There is no obligation to accept an incomplete note when offered in payment/change.

Notes with unusual damage such as severe heat damage (affecting 20 per cent or more of the note), contamination from blood, chemicals or other substances, or badly damaged notes where the value or genuineness is in doubt are classified as badly damaged/contaminated notes. These notes need to be returned to the RBA via banks or other authorised deposit-taking institutions for assessment/evaluation. The RBA pays the appropriate value for such notes after assessment/evaluation. Assessment/evaluation is based only on the visual presence of a note. If, for example, a note is totally reduced to ash in a fire, no value is paid. If part of a note remains, the value is determined on the same basis as for incomplete notes. An Incomplete/Badly damaged/Contaminated Australian Note(s) Claim Form must be completed when badly damaged/contaminated notes are accepted for on-forwarding to the RBA.

Incomplete and badly damaged/contaminated notes may also be presented at the RBA’s branches in Canberra and Sydney or they may be sent to the RBA at the following address accompanied by a completed Incomplete/Badly damaged/Contaminated Australian Note(s) Claim Form:

The Manager, Processing
National Note Processing and Distribution Centre
Note Printing Australia Ltd
PO Box 21
CRAIGIEBURN VIC 3064

Claims forwarded to the National Note Processing and Distribution Centre by mail are sent at the risk of the sender. The RBA accepts no responsibility for claims until they are received at the Centre.

The RBA provides to banks, other authorised deposit-taking institutions and cash centres a Note Sorting Guide which details additional information on the sorting of notes.

Common questions about damaged notes, which are answered in the Frequently Asked Questions About Notes section of this website include:

What should I do if I have a damaged note?
Should I accept a damaged note offered to me in payment/change?
What are unfit, incomplete and badly damaged/contaminated notes?
Are damaged notes worth full face value?
Is the serial number used when assessing the value of damaged notes?

If you require further information about damaged notes or note sorting, please contact the RBA:

Telephone: 1800 633 220
Facsimile: 02 9551 8021
E-mail: nienquiries@rba.gov.au

or write to

The Head of Note Issue
Reserve Bank of Australia
GPO Box 3947
SYDNEY NSW 2001.

Source: http://www.rba.gov.au
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Morphee +

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Make a nice soup out of it.

Quote:

Originally Posted by TRZA View Post

hiphop mixing is where its at. 30 second snippets. 100+ tracks an hour. just scratch the shit out of a record between em and smash the cross fader like OJ treats a white girl.

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Just hide it amongst other notes when you buy something from any shop. Then the problem can be passed on to someone else.
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woo, thanks mike
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yeah i would say hide it between other notes and leave the place quickly.
alternatively take to dodgy 711, BP etc and if they say something, be like your the ones that gave it to me.

so i'm pretty much agreeing with whats already been said
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Quote:

Originally Posted by ChemicalJames

At my work we're no longer alowd to accept any damged money at all, even if it has been sticky taped back together as the local commonwealth wont accept it.

Thats bollocks. Its still legal tender.

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Agreed. Even it is is ripped in half, and the other half is missing, it's still money FFS
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just sell it on EBAY
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Quote:

Originally Posted by percy

Just hide it amongst other notes when you buy something from any shop. Then the problem can be passed on to someone else.

Thats my technique - always works
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Quote:

If between 20 per cent and 80 per cent is missing: The note is regarded as incomplete and value is paid in proportion with the percentage remaining, e.g. half face value if half the note is present, even if the note is otherwise worn. The presence or absence of specific features such as the serial number(s) or the clear window is not a factor when determining value.
If more than 80 per cent is missing: No value is paid.

haha, thats stupid. i always thought that if the ripped note is definetly a majority of whole note, then its worth the full value of the note.
But going by that rule, if you find 2/5ths of a 50 dollar note lying around, you can actually take it to the bank and get $20 back. haha.

... thats got me thinking. cut 2/5ths off a note, buy somthing from a shop with the 3/5ths which many shops would probably accept, then take the 2/5ths to the bank and claim your FREE $20 note.
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Those RBA rules seem a bit tough. I am pretty sure that in the US you only need 51% of a note to have it replaced in full.
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Quote:

Originally Posted by ChiasticSlide

Those RBA rules seem a bit tough. I am pretty sure that in the US you only need 51% of a note to have it replaced in full.

Incase you hadn't noticed, we are not in the US...

ohh hang on.

Quote:

Originally Posted by TRZA View Post

hiphop mixing is where its at. 30 second snippets. 100+ tracks an hour. just scratch the shit out of a record between em and smash the cross fader like OJ treats a white girl.

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Quote:

Originally Posted by Commando Sting

just start some shit

then claim they broke the $20 note whilst shit was being started.

Love your style
rayza_kool +

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do what i do when i have ripped notes:

i work in reception and have to handle cash so if i have a ripped note, i just replace it out of the till and let my boss worry about exchanging it
and like Gary the No Trash Cougar says: Give a larbage, throw out your garbage....spread the word!!
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also, i work in a bar, and i will accept like....
half a note.

i don't care!
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is half a $20 note worth $10?


These are the things that boggle my mind!
meh..
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Quote:

Originally Posted by crowy

is half a $20 note worth $10?

apparently it is
and like Gary the No Trash Cougar says: Give a larbage, throw out your garbage....spread the word!!
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Amazing!
meh..
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Quote:

Originally Posted by crowy

is half a $20 note worth $10?


These are the things that boggle my mind!

1. Read thread.
2. Ask question


Not the other way around.
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Save it for your grandmas birthday and put it in her card, she'll never know the diff and then its not your problem
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Quote:

Originally Posted by SoGood

Thats bollocks. Its still legal tender.

Dave

thats the truth, i work for the commonwealth bank and we take it all, once we get a damaged note (technically any note thats crinkled or dog eared) we have to "mute" it and then send it away to be destroyed, if they are saying that they wont take damaged notes thats a load of shit, part of a tellers job is to pick out the bad notes so they can destroyed

i'd email the bank and tell them thats what the branch is saying :/
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becy +

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I just realised that whole law is bullshit.


Think about it.

If they won't pay out for any amount under 20 percent of the note, then they should pay out the full amount for anything over.
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Quote:

Originally Posted by becy

I just realised that whole law is bullshit.


Think about it.

If they won't pay out for any amount under 20 percent of the note, then they should pay out the full amount for anything over.

no change that i am too stupid to be human sometimes.

they should make the cutoff 50 percent
that makes sense, and pay anything over, and nothing under.

that way, no one note can be claimed twice.
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I cant believe you havent tried to spend it yet. Just spend it! SPEND IT!
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Quote:

Originally Posted by becy

no change that i am too stupid to be human sometimes.

they should make the cutoff 50 percent
that makes sense, and pay anything over, and nothing under.

that way, no one note can be claimed twice.

But then you could cut a note exactly in half and since you have 2 parts of a note of 50% you could claim 2 full notes. Taking into account you have just made the cutoff point twice.
What you get is one full hour of rip roarin' rap music. Not by some dubious ruffians without the chops, but by a professionally trained voice man. It's just me out there.
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Quote:

Originally Posted by brickup

I cant believe you havent tried to spend it yet. Just spend it! SPEND IT!

i'll swap it with you for a fresh $20
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Quote:

Originally Posted by ADz_M

But then you could cut a note exactly in half and since you have 2 parts of a note of 50% you could claim 2 full notes. Taking into account you have just made the cutoff point twice.

Nah one side would be 50.5 percent and the other side would be 49.5 percent, or thereabouts, so what you'd do is go:

50percent<x<=100percent
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i just got a cheque from the reserve bank for $20, woo!

case closed.
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Quote:

Originally Posted by i_have_ADD

i just got a cheque from the reserve bank for $20, woo!

case closed.

It will be amusing to see how long the cheque takes to clear... that's always amused me - what if the government has overdrawn their account!! We can't have a bounced cheque from the gov't!!

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What commonwealth wont accept it?

At my work we get heaps of ripped notes, i spend the spare time sticky taping them back together. our company does $20k per week cash and ive never heard of a single problem from commonwealth. try using the "business tellers"
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