My landlord says that all the marked bills I used to pay my rent were destroyed, and that the bank teller got very angry at him. Is this a common occurence? Should I go to the bank with a gun and straighten things out? Does anyone know the bank's policy on destroying bills? If I use smaller markings, is it less likely that they will destroy my bills, or do they destroy any bills with markings?
Cheeck out past messages. They only destroy them when they are worn out.
you pay ur land lord in cash? i see a little under the table dealing away from the tax man…its the way to go
wes-bos…I pay my land lord in cash, he charges $500 so I give him $500 cash how is that under the table dealing? Cash cheque whats the difference?
People are funny….they all have different reactions to marked bills. I had a cashier at Costco get real mad at me once going on about how illegal it was and how she should call the cops…well I just laughed in her face and told her that a small stamp is not defacing and it is still legal tender. Ha! call the cops because I put a little stamp on a bill. I dont usually get mad at people, I just explain the site to them but the Costco lady was pretty rude. Anyway not everyone is that bad. I have had many positive comments including bank tellers and cashiers who find it quite interesting.
They didn't destroy the bills. They have to send them to Ottawa, cause the BoC only does that. And unless the ink is falling off it, they send it back. They hate it when they get bills that were marked and "now have to be destroyed."
I was just wondering because I've only had hits within my province…I was worried my bills aren't circulating because they are being destroyed. Mind you, I only have two hits anyway.
Have no fear. The B of C will eventually straiten your bank out. The landlord- that's your job. Just tell him it's marked bills or nothing, and he can't evict you for doing this either- the rentalsman will chew him to pieces if he tries.
I've noticed that a lot of the higher denomination bills in Saskatchewan tend to show up as hits in the northern parts of the province - definitely out of proportion to the population and the number of bills out there. I'm wondering if the banks are 'dumping' the marked bills in northern communities, so that they don't circulate as far afield as they would in the south.
Has anyone noticed something similar for other provinces?
Since the only place south of here is Victoria or Windsor, Ont. yes.
WTG, maybe if your story appears on the news you'll get more hits. All kidding aside, how are you marking your bills, do you get a bundle from the bank vault or what? Just as long as you get receipts for your rent payments you should be ok. Paying your rent in cash, I never thought of that.
As for Quebec, no one seems too angry about the marked bills but perhaps when they get to the bank they pull them. Not many of my bills get around unless they miss the banks on the way out of the province.
yah sorry i was assuming that the land lord wasnt counting it as imcome…forgot about that part..
The only comment I can add is to ask how you are marking your bills? If you're writing all over the entire thing and defacing the picture of the queen then the bank might be a little annoyed. If not, too bad for the landlord.
My landlord doesn't care what the bank says…he just wanted to let me know that they separated the marked bills, and that they probably weren't circulating.
I got a hit on a 50 in northern sask than northern BC
Print this out and give to the bank… it is from the bank of Canada..
Here is an offical reply I got from The Bank of Canada on a question I asked them about the legality of stamping bills:
The Bank of Canada is aware that certain groups stamp Canadian bank notes in order to track their journey throughout Canada.
While neither the Bank Act nor the Criminal Code deal with the mutilation or defacement of bank notes, the Bank of Canada strongly objects to any mutilation or defacement of bank notes including simple markings similar to your example. All writing on notes limits their life. Such instances of mutilation and defacement carry a cost associated with them due to accelerated requirements for note replacement. Further, the mutilation and defacement of notes is not condoned as Canadian currency is a symbol and source of national pride.
Having said this, the bank note you possess remains legal tender and can be used in commercial transactions.
I hope this information will be helpful and thank you for your interest in Canadian currency.
Sylvie Dionne
Bank Note Communication and Compliance Team
Bank of Canada
1 888 513-8212
That letter along with others like it should be put in the FAQ section as reference. Just in case, I'll add it to my profile.
So, if we put our bills in the bank, they might not get hit because the bank might destroy them?
B of C would only destroy them if they are no longer usable and that would require the bank mutilating them and I do believe that is a sin..
I just spoke with a friend from the TD bank in Regina, she was watching me mark a bill and said that they (the bank) has lots of those, mostly stamped go through. She said they don't even bat an eye over them. If the bill is in good shape, off it goes to the next customer.
Would it be ok if she marked the S/N for me of the ones with stamps on them????
If she registered here and entered the serial numbers of ANY stamped bill she sees, not just yours, I would have no trouble with it. But it would have to be under her own account.
What would be cool is if she could comment on whether it wwent back out into circulation, or was sent for destruction.
She doesn't have a computor. But asked if she could, which wouldn't be all the time, would I like the S/N, I didn't no if this was ok to do. But I could probably get her to check, whenever possible, anything marked that was sent to be destroyed.
Or if she gave me the S/N maybe I could just post them on the forum that they are in circulation again. I don't want to enter a stamped bill I never had if thats cheating.
Another interesting thing she said, They (the banks) don't really notice the handwritten bills, the stamped ones catch their attention mostly. So any of you, including myself, not getting many hits, maybe we should get a stamp. Like she said if the bills in good shape, stamped or not, its back out in the world (or Canada)
Even if she just got the ones that were stamped and going to be sent to the Bank of Canada. That would be cool.
I'll check with her tomorrow and see what she can do. If anything it would be interesting.
She doesn't have a computor. But asked if she could, which wouldn't be all the time, would I like the S/N, I didn't no if this was ok to do.
computer, know
Hmmm… in that case it would be a tough call for me. I think I will leave the final ruling up to dr. Maybe if you opened a seperate account in her name and entered the bank hits there??? Help, dr!
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