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Fake money

Wacko18
Wacko18 Posts: 40 Forumite
in Savings & investments
Hi, I'm not sure where to post this question so sorry if its in the wrong place. I recently deposited some home savings into my bank account but when it was being processed I was told that one of the £20 notes was a fake one. I usually try to look out for fake money but I didn't notice this one. I accepted that it was fake after he showed me the differences with a genuine one. The bank man then confiscated it and filled out a 'form' and gave me a copy of it. I was gutted by this as I can't afford to be losing £20s. Now I really worried that Im going to get into trouble for it or its going to affect my bank account. I've never been in any kind of trouble before but now im stressing out over what happens next.

Does anyone know about these kind of situations?

Comments

  • xylophone
    xylophone Posts: 45,929 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    https://www.choose.co.uk/guide/damaged-or-counterfeit-bank-notes.html
  • Reaper
    Reaper Posts: 7,357 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    You are not in any kind of trouble. To end up with a dodgy note can happen to anyone. If you took a duffel bag stuffed full of counterfeit notes into the bank and tried to pay that in it would be a different matter!

    Relax. You are not on any blacklists. I'm afraid your £20 is lost though.
  • Wacko18
    Wacko18 Posts: 40 Forumite
    Thanks. I was disappointed but accepted that I had lost the money after he showed me the differences. He gave me a UV pen to check future money so I am going to be more vigilant in the future but these fakes can be very convincing sometimes. I had paid in a largish amount of savings so I was just glad that there was only one fake £20 and not more.

    I know I'm probably over reacting but I was really worried about what happened next and if my account would be seen as suspicious. Thanks for putting my mind at rest.
  • eskbanker
    eskbanker Posts: 40,191 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Wacko18 wrote: »
    He gave me a UV pen to check future money so I am going to be more vigilant in the future but these fakes can be very convincing sometimes.
    Where are you receiving significant quantities of £20 notes from? Personally I rarely have these other than directly from ATMs - still not entirely guaranteed but it would be a shock to get a fake there.
    Wacko18 wrote: »
    I had paid in a largish amount of savings so I was just glad that there was only one fake £20 and not more.
    Accumulating savings at home in £20 note form doesn't sound very efficient - you don't say over what period you'd done so but surely it would make more sense to get 'largish amounts' of cash into a bank at the earliest opportunity, to start earning interest?
  • Wacko18
    Wacko18 Posts: 40 Forumite
    Hi, I dont use cards etc so i tend to withdraw £20s from the post office, or an ATM or they get passed to me from other people. From what I've read online receiving fake money happens to a lot of people so I'm going to be checking a lot more carefully from now on.

    I like to keep some savings at home as well as at the bank but have started to now put it in the bank.
  • chockydavid1983
    chockydavid1983 Posts: 717 Forumite
    Part of the Furniture 500 Posts Photogenic
    Wow, this makes me glad I barely use cash anymore! I would have falsely assumed you'd be covered if you happened to come into a single fake.
  • webjaved
    webjaved Posts: 622 Forumite
    Seventh Anniversary 500 Posts Name Dropper
    Wacko18 wrote: »
    Hi, I'm not sure where to post this question so sorry if its in the wrong place. I recently deposited some home savings into my bank account but when it was being processed I was told that one of the £20 notes was a fake one. I usually try to look out for fake money but I didn't notice this one. I accepted that it was fake after he showed me the differences with a genuine one. The bank man then confiscated it and filled out a 'form' and gave me a copy of it. I was gutted by this as I can't afford to be losing £20s. Now I really worried that Im going to get into trouble for it or its going to affect my bank account. I've never been in any kind of trouble before but now im stressing out over what happens next.

    Does anyone know about these kind of situations?

    Relax, stick the kettle on and have a nice cuppa! You've done absolutely nothing wrong, just be aware of the fake notes in future.
    Save £12k in 2019 #154 - £14,826.60/£12k
    Save £12k in 2020 #128 - £4,155.62/£10k
  • Shashy
    Shashy Posts: 139 Forumite
    Wacko18 wrote: »
    Hi, I dont use cards etc so i tend to withdraw £20s from the post office, or an ATM or they get passed to me from other people. From what I've read online receiving fake money happens to a lot of people so I'm going to be checking a lot more carefully from now on.

    I like to keep some savings at home as well as at the bank but have started to now put it in the bank.

    The lesson here isn't to check notes more carefully, it's to start transitioning to a less cash-based personal finance approach. Is there a good reason why you don't have a standard current account / bank card?
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