Articles & News About Money & Coin Collecting

How To Protect Yourself From Receiving Counterfeit Money While On Vacation

Anyone can receive counterfeit money no matter where they are. You can go to the bank and get that one $100 bill that was not checked when it was received by the bank. You then go to the grocery store and pay with that $100 bill when the cashier checks it was a special pen that indicates the bill is counterfeit. The cashier is silent and goes to her manager to show them the bill. All the while, you are standing at the checkout confused as to what is going on until the manager comes back to tell you that they must confiscate the $100 bill because it is counterfeit. They have already notified the authorities so the situation can be investigated. Now you are stuck with a cart full of groceries and you must wait for the police in order to tell them how you received the bill.

This is a situation that may be somewhat unusual, but some have experienced. They have been at no fault regarding the possession of a counterfeit bill because, if not checked properly, they can be distributed by banks, stores, and other venues in which money changes hands.

But what if you were on vacation and this happened? First of all, you're not from the area and you just handed off a counterfeit bill. That makes you look quite suspicious and, unfortunately, can get you into serious trouble and ruin your entire vacation. That is why it is important to take certain precautions.

Precautions to take

One can never be too careful when traveling with cash. If at all possible, one might prefer to use traveler's cheques or use a debit card or credit card. These items can be reported if missing, whereas cash cannot be replaced. Traveler's cheques can be replaced if missing so your trip isn't completely ruined. However, if you must carry cash, there are ways to protect yourself against receiving counterfeit money.

Depending on where you are in the world is going to determine what tools you need, but using items such as:

?A counterfeit detector can keep you receiving a counterfeit bill. Simply keep one in your purse or pocket to immediately mark the bill. The mark should show up clear if the bill is real and the mark will show up as dark if it is counterfeit. Although many retailers use these pens, cashiers can get into a huge hurry and forget to mark them.

?UV detectors can also protect you. These devices can come as pens or key chains that you can shine on the bill to make sure the security thread is inside the bill and that the denomination of the bill is printed on it. UV devices that work on U.S. bills also work on Canadian bills. When shined on a Canadian bill, the coat of arms along with the words FIVE CINQ and BANK OF CANADA BANQUE DU CANADA appear over the portrait in blue. The UV light will also pick up the red fibers on the bill.

It is also good to know about the different types of security used on the printing of bills even if you are visiting a foreign country and cannot find a counterfeit detection device for that particular currency. By doing this, you can immediately spot a counterfeit bill and call the authorities or return it as soon as you receive it and let them know that it is counterfeit. This can keep you out of trouble for circulating counterfeit money, especially when you are away from home and trying to enjoy yourself. This can also prevent the money from ending up in someone else?s hands.

Struggling to identify cases of counterfeit money? iTestCash's exclusive Counterfeit detection pens and other counterfeit detectors will help protect you and your business from being scammed by a fake money artist.

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