Here’s How to Salvage & Save Your Damaged Money for Free in Boise
Mo Money Mo Problems
Sure, it's cool if you're a Cristal Champagne-poppin' rapper, but money problems for us normal folks aren't quite as glamorous. Here in the real world of bills, mortgages, and debt, some of us have made an art of living paycheck-to-paycheck. When every dollar counts, you literally can't afford to throw money away.
Toddlers Are Criminals
So what do you do when your toddler shreds a Benjamin? Have you ever torn a $20 while pulling it out of your wallet? "Yes" and "yes," if you ask me.
The first time my two-year-old went rogue and hijacked my wallet, I figured the hundo she shredded was rendered valueless. But since I'm not at the level where losing a $100 is a casual thing, I called Idaho Central Credit Union and asked them what I should do.
After she told me about her nine beautiful grandchildren, a teller named Margie directed me to the Federal Reserve Bank. As misfortune would have it, the struggle was real for Margie a time or two courtesy of one of those nine beautiful, but rambunctious grandkids. Solidarity, Margie.
If you find yourself in a situation like mine or Margie's, you can exchange your damaged, defaced, weathered, and torn bills at a Federal Reserve Bank and most other banks.
Banks and Federal Reserve Banks will generally exchange mutilated or damaged currency for a full replacement if they are able to determine the value of the bill and verify that it is genuine. -Banks.org
Banks.org recommends handling mutilated and delicate bills with care to avoid further damage. If you're left with less than one-half of a bill, Federal Reserve Banks have a pretty generous exchange policy. Simply bring the bill into the bank and complete a form that declares the bill's value and a brief summary of how it was damaged. As long as the bill is clearly recognizable, the process should breeze on by!
For a list of Federal Reserve Banks in the Boise-area and greater Treasure Valley, click here!