We would all be a lot richer if we could each invent our own money but alas, that’s just not how it works (I’d be a millionaire if only I could buy stuff with high fives, sigh). Which is why officials are none too pleased with the operators of two Taco Bell locations in New York, after a worker claimed she was forced to pass fake cash to customers as change. [More]
The world of finance and economics is pretty complicated as-is, and now there’s “digital money” in the mix making it even worse. Bitcoin is everywhere in the news lately, from hacks to hearings and everything in between. But there are a lot of questions about Bitcoin — starting with, what the heck is all this, anyway? And so, here is everything you wanted to know about Bitcoin, but didn’t actually want to ask your tech-loving, early-adopter friend.
First of all, we’re not really friends with the U.S. Mint because it’s not a person and besides, we’ve never met it and thus have no idea if it would even laugh at all our jokes or if it likes a nice glass of wine. Everyone likes money though — unless that money looks funny. Say, a brown nickel? Would that throw you off, would you reject it as a currency? Because the Mint would like to know. [More]
If you’ve got the bucks, you can get celebrity chef Wolfgang Puck’s food at your private event. The Wolfgang Puck Catering & Events company bears a famous name, and now it’s being blamed for adding services charges to its customers’ bills without then handing over gratuities to its servers.
We are living in a digital world. If you need evidence, take a second to realize that you are reading these words on a screen. And also that someone is trying to sell a house for virtual currency — that wouldn’t have happened even a scant few years ago. The Canadian man says he’s got some projects he’s working on, and all those Bitcoins would come in super handy.
Yesterday, we told you about the Massachusetts man who withdrew $1,800 from Sovereign Bank, then took it over to pay his mortgage at Citizens Bank, only to have $1,400 of it confiscated for allegedly being counterfeit cash. Except it wasn’t. [More]
Believe us when we say using Monopoly money in the real world is a sure way to fail. And even if your money isn’t hued funny, if it’s fake, it won’t fly. One man is blaming a local bank for his counterfeit woes, claiming he was given $1,400 in fake $100 bills. He can’t pay his mortgage with that stuff, putting him in a tight spot.
Canada is having a rough go of this whole “print new money and make sure it won’t melt” thing already, and now it sounds like there’s even more currency confusion. Botanists up north are claiming that the government put the wrong dang maple leaf on the country’s new polymer bills — a Norway maple leaf instead of the native Canadian maple. Ruh-roh. [More]
Customer Sues Walmart Because Cashiers Shouldn't Rip Up Two $100 Bills Without Making Sure They Are Real
Anyone who has paid for a purchase with a $100 bill is probably familiar with the various methods that stores have for validating the authenticity of the note. But one Texas woman says she was publicly humiliated at her local Walmart when a cashier ripped up two of her C-notes — and then detained her on allegations of trying to pass counterfeit bills — without properly checking to see if the money was the real deal.
While financial institutions often go through various security checks to make sure that the $50 and $100 bills you hand to them are genuine, most consumers will accept these same bills from banks without giving a thought to whether or not they are bogus. Problem is, if you end up with counterfeit cash, you are most likely screwed.
You say to-may-toe and I say to-mah-toe, and in the case of a waitress suing law enforcement, she says $12,000 is a miraculous tip and they say it’s drug money. Oh, and there is no tomato involved. So who’s right? After all, says the waitress, she tried to return the tip to the customer and was told to keep it. All’s fair in the food industry, after all.
If you suspect you’ve been stuck with counterfeit money, you should be able to verify your suspicions with a quick check. Knowing what telltale signs to look for can keep you from being ripped off in a cash transaction.
Angling to get in on the microtransaction gaming action that’s all the rage online and on mobile devices, Sony and a game developer are reportedly hammering out policies to allow games to nickel and dime players to a greater extent.
If you happen to have a $1 million bill handy, you’ll probably want to limit its use to wall display or gags. Trying to use the obviously counterfeit piece of paper to buy stuff will probably get you in trouble with authorities.
Put that Monopoly money away! A man who tried to use a counterfeit $20 bill to buy snacks at a movie theater has been sentenced to 80 years in jail for his crime.
What’s the value of a $2 bill that’s been sprayed with gold leaf? Two dollars — maybe less, if merchants don’t want to accept the corrupted currency. But that hasn’t stopped vendors from selling these and other “collectible” bills and coins at prices way above face value.
Remember the Downtown Dollars that Ardmore, PA sold to its citizens this year? Sara Lepro at American Banker looked at that and other “homegrown currency” experiments happening across the country, which are intended to stimulate the local economy and take advantage of “a growing ‘localism’ movement.”
Chris and his wife got a Walmart Money Card as a gift and thought they’d go spend it, but the money was buried under so many layers of red tape that they weren’t able to use it. To activate the card Chris was told he had to give up a litany of personal info, including his social security number.