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Sign up with Google Sign up with FacebookQ: Has anyone else noticed an increase in fake money lately?
In the last 2-3 weeks I've come across 2 instances where my 100 kuai notes were not accepted on thegrounds of being fake. The only source could have been my local ATM. Others I've spoken to have had fake money too recently. What's going on!
12 years 47 weeks ago in Money & Banking - China
Haven't noticed yet. But I am in the south and they may be migrating.
When you get them check, the collar, for ridges, the side of the note for those ridges and you can also buy a UV light to give them the once over if you think you have one.
You can check on line for the protacal. I know yours are from the ATM but if you get one from someone, just pass it back. They usually change bad notes with no questions asked.
The UV light is sound advice. It's not expensive at all and you can purchase it on taobao. As for a bank changing bad notes for good ones, that's news to me. I would have said just the opposite.
Additionally, Guangzhou and Shenzhen have a reputation for being the centers of fake notes. Be particularly careful in those cities, even when drawing money from an ATM. If you have time, draw the money from a teller. Additionally, in Guangzhou and Shenzhen, it's not only the RMB 100 notes that can be fake, but also the RMB 50's and RMB 20's.
Every year, around the main holidays, there is an influx of fake or counbterfit money in circulation. It seems that people in their rush to travel for the holidays, lower their safeguards and accept bills without really checking them.
In general, worn out, used "dirty" bills are real ones, you should concentrate on the ones that look "whitish", clean and new. That will save you time for a more indeep check at the probable ones. A UV light cost between 5 and 10 Rmb, very easy to use too.
Nowdays, I only use ATM's in emergencies, and for amounts less than 500 Rmb. I have gotten used to goto my bank teller and draw money on a once amonth basis, and do keep it at homke in a wall safe box, taking from there as needed to meet monthly expenses. I have 8 each 100 Rmb bank notes which are counterfit to prove that ATM's do dispense fake bills, and will not exchange them at all if you complaint.