Learn how to spot fake banknotes. Don’t get scammed ever again!
Fake banknotes are more common than you think. When the bank turns them down, that’s when you’ll realise! You might not have even come across them… but better safe than sorry! Read on to find out how to spot fake banknotes.
Nowadays, even if cash is 100% secure (according to the European Central Bank) the innovation in technology has advanced so much that, on the most negative side, unfortunately, it also innovates in the form of creating, for example, fake banknotes.
To avoid being paid with a fake note in your business, it’s best to have a note checker. This will tell you if the note is fake or not. But, if you don’t have a reader, or have received a fake note before without realising, here are some tips:
To check whether it’s false or not:
TOUCH IT. What does it feel like? Its texture must be strong and firm. Not to mention the note will also have some impressions, such as the number that indicates the value of the note and the side lines.
LOOK AT IT. In the light, we can see the portrait of Europe. In the upper window there is an hologram that shows Europe as well. It also has to have the security thread about half of the bill, and the watermark.
TURN IT. As you move the note, the colours of the number indicated by the note changes. A metallic/holographic effect is produced. The light zones become dark.
If you have noticed that the bill is false or you suspect that it is (since you have compared it with an authentic one), that note would have no value.
Here’s what the European Central Bank advises for the next step:
- Try to remember the person that gave it to you. If it was given as change in a shop, you may be able to go back and exchange it. If you can’t exchange it or it wasn’t from a business, you can report the incident to the authorities. Although it might be intimidating reporting that person, the likelihood is you’re out of pocket for a certain amount and you want to stop them from doing it to anyone else.
- If the person is still stood in front of you in that moment, ask for a few minutes and call the police.
- In case you’ve noticed it later on, take the note to any branch where you will be informed of the legitimacy of the note (or currency) in question. Ask for a proof because if it’s legal, you will recover the money. You can also present it at the nearest police station or bank branch.
It’s a crime to pay with a fake note, so DO NOT return it to circulation!
For more security tips, regarding cash, check out a previous blog about staying safe at the ATM!
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