A California elderly woman unexpectedly found $6,000 in cash that she had lost four years ago, but faced the risk of being rejected by the bank due to the damaged banknotes.
With the help of the media, the bank almost fully exchanged all the cash, solving the woman’s worries.
Mary Venegas, a 66-year-old woman from Sacramento, had accidentally left an envelope containing $6,000 in cash in her backyard four years ago. Despite searching the backyard thoroughly, she couldn’t find any trace of the envelope.
Four years later, she found the envelope under a cardboard box. It was suspected that the envelope had fallen to the ground and was accidentally covered by the cardboard.
Venegas was shocked and overjoyed to recover the significant amount of money, as they had searched for it for a long time without success.
She then tried to deposit the banknotes at a U.S. bank to pay taxes but was rejected.
The bank stated that they couldn’t accept damaged banknotes. Venegas’ banknotes were dirty and showed signs of water damage due to exposure to wind and sun, with some corners corroded.
Feeling helpless, Venegas recently contacted the consumer investigative team of CBS and the host of the hotline, Kurtis Ming, seeking assistance.
Venegas now needed the money to pay overdue winter utility bills.
The Department of the Treasury is responsible for exchanging severely damaged banknotes (referred to as mutilated currency), such as banknotes remaining less than half of their original size or with unidentifiable denominations. However, the entire process can take six months to three years.
According to the explanation provided on the website of the Bureau of Engraving and Printing under the Department of the Treasury, banknotes that are unsuitable for further circulation due to physical conditions such as dirt, damage, softness, tearing, or wear, are not considered mutilated currency. Such banknotes should not be sent to the Bureau of Engraving and Printing for exchange but can be exchanged at commercial financial institutions.
As Venegas’ banknotes were mostly intact and the denomination numbers on each banknote were clear, not falling under mutilated currency, CBS asked the U.S. bank to reassess the exchange.
After evaluation, the U.S. bank agreed to deposit $5,700, bringing relief to Venegas.
She mentioned that she finally had the money to pay the overdue bills.
“I don’t like owing people, and I don’t like leaving bills unpaid,” Venegas told CBS. She also expressed deep gratitude for the media’s assistance.