Although all dollar bills are legal tender in the United States, in Canada some exchange offices may reject certain bills. Learn to identify them to avoid inconvenience. If you are going to exchange US dollars in Canada, it is a good idea to check each bill carefully. Although all bills are backed by the US Federal Reserve, some exchange offices do not accept certain dollar bills because of their age, poor condition or because they are easier to counterfeit. The result: an unexpected rejection or a lower quote.
In this article we explain which of the dollar bills may be rejected, why this happens, and how to identify them before they cause you any problems. Ideal if you are about to travel or if you have been keeping dollars at home for some time.
Old bills: the ‘small-face’ ones
The $100 bills issued up to 1996, known as ‘cara chica’ (small face) because of the smaller size of the portrait of Benjamin Franklin, tend to be less accepted in exchange offices.
This is because their old design makes them more susceptible to counterfeiting, which generates mistrust in the exchange offices. Some offices even offer a lower value for these bills or refuse to accept them.
Damaged banknotes
Banknotes with stains, tears, inscriptions or any other type of damage may be rejected. In particular, those stained by anti-theft security features, which release ink in the event of improper handling, are considered invalid.
The Bank recommends not accepting banknotes with these characteristics and, if received, to hand them in at a bank for analysis.
Marked banknotes or banknotes with inscriptions
Any type of inscription or marking on banknotes is considered inappropriate use and may lead to their rejection at exchange offices. It is advisable to check the banknotes and avoid accepting those that show this type of alteration.
Recommendations for travelers and users of dollars in Canada
- Check your notes: before traveling or carrying out transactions, make sure that your dollars are in good condition, without damage or marks, and that they are recent designs.
- Consult with the exchange office: find out in advance about the banknote acceptance policies of the entity where you plan to exchange your money.
- Go to specialized entities: some currency exchange offices, such as Eurochange, accept damaged, obsolete or old banknotes, offering an exchange service for these cases.
Keeping informed and being cautious about the condition and age of dollar bills can avoid setbacks when exchanging them in Spain.
