New Germany resident warns of stained bank notes
The South African Banking Risk Information Centre (SABRIC) said it noticed an increase in the attempted circulation of dye-stained notes after hundreds of ATMs were destroyed during the recent civil unrest in KwaZulu-Natal and Gauteng.
A NEW Germany resident, who withdrew a stained R200 note at a Kloof ATM, has sent out a warning for people to be vigilant.
This was after he had difficulty replacing the note at his bank when he was unable to use it to pay for his revenue service bill.
Mike Wheeler mentioned that he had never seen stained money prior to this and received the shock of his life when he was told at a grocery store that his money could not be accepted.
ALSO READ: Local looting shakes Valley Trust The puzzled pensioner made his way back to his bank.
“They refused point blank to take the money and I was told to go to the South African Reserve Bank in Durban. I was shattered and disappointed,” he said.
When he arrived home, Wheeler was frustrated and called the bank’s head office.
“I was told to go back to the bank. When I went the following weekend, they gave me two clean R100 notes, I was happy, but I still do not understand the reason they could not help me the first time as they saw me withdraw the money,” he said.
The South African Banking Risk Information Centre (SABRIC) said it noticed an increase in the attempted circulation of dye-stained notes and encouraged people not to transact using dye-stained notes.
They urged people to report any person in possession of these notes to the police. SABRIC’s CEO, Nischal Mewalall the stained notes surfaced after hundreds of ATMs were destroyed during the recent civil unrest in KwaZulu-Natal and Gauteng.
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“ATMs hold cash in special containers that protect cash with dye-stain technology that is activated when someone tries to break open the container. Once activated, the cash is stained with a green dye, thus defacing the notes, rendering them unusable as currency.
“The notes are recognised as having no monetary value once they are stained,” explained Mewalall.
Mewalall said South Africans are cautioned against accepting these dye-stained notes as legal tender as the onward use and value of these notes will not be honored.
“People with stained money also run the risk of being investigated, arrested, and prosecuted for the destruction of these ATMs.”
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