Fake notes at ATM booths: What to do

With Eid approaching, people all over the country are withdrawing money from banks and ATM booths. Generally, the validity of notes issued from banks and booths are ensured.

While there has not been any definite proof, we have heard of some claims of ATM booths issuing counterfeit money. But the problem with booths is that without a bank official present, it might be difficult to get reimbursed if one does end up with one. To be on the safe side, follow the safety precautions below

          - Withdraw money from ATM banks in small amounts. So if you do end up with a counterfeit and have no possibility of being reimbursed, you can be consoled that the amount lost is not big.

          - Stay informed. It is necessary to learn how to identify fake currency. Bangladesh Bank has an informative video clip on this.

          - After withdrawing money, check the notes to see if any of them are counterfeits. Preserve the transaction slips issued by the ATM for future reference.

          - If you do end up with a counterfeit note, do not leave the ATM premises. Every ATM booth has the phone numbers of the banks. Call them immediately.

          - As a safety precaution, hold up the fake note to the CCTV installed in the booth in a way that the number on the note and your face is visible for future reference.

          - If avoidable, skip ATM booths and pay with card or withdraw money from the banks.

Remember, once you do leave the ATM booth or the bank premises, there is not much the banks can do to help you. “It is imperative that the issue is brought to the attention of bank authorities before leaving the premises. Once you go out, there is not much we can do to help you,” Nazeem A Choudhury, Head of Consumer Banking, Eastern Bank Limited advises.