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Counterfeit coins isssued to customers by High Streat Banks

Community Veteran
Posts: 18,728
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Registered: 12-08-2007

Re: Counterfeit coins isssued to customers by High Streat Banks

Quote from: nanotm
if I walk into a bank and try to hand in a bag of coins and they notice one is fake and remove it from circulation its the bank that looses the cash from their balance sheet, the customer is protected under existing laws to ensure an innocent doesn't loose out,  any bank that acts in a different manner towards a private customer is actually breaking the law, otoh business customers are expected to take the loss themselves as similarly to the bank they are able to write off any amount against operating insurance .....

What 'existing Law' are you referring to?
Whether private or business, if you attempt to pay a fake coin into the bank you lose out. The bank will simply remove it and reduce the amount you are paying in accordingly. They also retain the coin.