What is up with major stores and banks not accepting my money, as in cash, anymore?

It's true! Walmart, Target, Costco, even supermarkets and other popular stores have begun new payment rules for 2025.

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Actually, it all has to do with "mutilated" money that has been damaged so that they can't even determine it's value, or part of the actual bill is missing.

Getty Images/Canva
Getty Images/Canva
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The Clean Water Network.org website reported that the reason for this change is to improve the security measures against counterfeit money. These bills will be rejected if they fall into the category of “mutilated”—meaning they are torn, discolored, or have damaged edges. It comes directly from the Bureau of Engraving, the Secret Service, and the Advanced Counterfeit Deterrence (ACD) Steering Committee, the report says.

How many times has some of your cash gone through the washing machine? Maybe it looks better than before, but maybe not and you may be out of luck when trying to spend it.

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Actually, we are only talking about dollar bills as of now, and we all know how ratty our old dollar bills can get. However, simply being old doesn't mean it won't be accepted because it has to be considered mutilated.

Jp Valery on Unsplash
Jp Valery on Unsplash
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So am I out of luck if I have mutilated money and no one will take it?

NO!

You Can Redeem Mutilated Money, but you have to go through a process according to the Clean Water Network report.

You will need to contact the Bureau of Engraving and Printing directly. Here’s how:

  1. File a mutilated currency claim.
  2. The BEP will examine the bill using special tools to assess authenticity and determine its full value.
  3. Once the assessment is complete, they will issue a check to you for the evaluated amount.

CLICK HERE to submit a request.

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These money-saving tips—from finding discounts to simple changes to your daily habits—can come in handy whether you have a specific savings goal, want to stash away cash for retirement, or just want to pinch pennies. It’s never too late to be more financially savvy. Read on to learn more about how you can start saving now. [From: 25 ways you could be saving money today]

Gallery Credit: Bethany Adams

 

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