After a new announcement United States Federal Reserve$100 bills are not accepted at banks and ATMs. What is the reason for this decision?
FED: 100 dollar bills will not be accepted
The United States Federal Reserve It has announced major changes to the dollar bills in circulation as part of a broader effort to modernize paper money and increase security measures.
These changes will mainly affect certain categories which are no longer accepted in financial institutions from this year onwards.
Large financial institutions like Bank of America And Wells Fargo They no longer accept damaged or mutilated dollar bills. This is part of the implementation of new designs and security features in the banknotes, starting from very low denominations.
The main objective of this update is to counter counterfeit notes that have evolved with technology. The United States Engraving and Stamp OfficeTogether with the Secret Service, it is constantly looking for ways to improve the security of money, making bills harder to copy, while also being more durable and easier to recognize.
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Dollars: What are the new security features?
The new currency notes will incorporate several advanced measures to prevent counterfeiting, including:
- Security thread in 3D: A thread that changes color when the bill is tilted, making counterfeiting difficult.
- Variable Color Ink: The number representing the value of the bill changes color depending on the angle at which it is viewed.
- Micro printing: The small letters printed on the bill are almost impossible to see with the naked eye, but this makes counterfeiting difficult.
- Tactile Relief: Parts of the bill have a unique texture that can be identified by touch.
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Dollars: When will the bills be renewed?
The renewal of banknotes of other denominations will follow a phased schedule over the coming years:
- $50 bill: It will be renewed in 2028.
- $20 bill: It will be ready by 2030.
- $5 bill: Its renovation will take place between 2032 and 2035.
- $100 bill: It is expected to be renewed between 2034 and 2038.
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What happens to old bills?
Some banks and ATMs are in poor condition, and although some dollar bills are no longer accepted, they are still considered legal. Consumers can exchange them for new bills at the Federal Reserve Bank. Users are advised to exchange damaged or mutilated currency notes to avoid future inconvenience.
