Heads up, West Virginians. Dollar bills in certain shape will no longer be accepted as of now.
As of October 2024, updated guidelines for dollar bills are in effect, with major retailers, banks, and ATMs implementing stricter rules on the cash they accept.
The changes, introduced by the U.S. government, aim to enhance security and reduce the circulation of counterfeit or damaged bills.
Enhanced security features such as color-shifting inks, watermarks, and embedded security threads have made U.S. currency harder to counterfeit.
However, counterfeit bills, often created with sophisticated techniques, still circulate.
The U.S. Department of Treasury estimates that $70 million to $200 million in counterfeit currency is in use at any time.
To combat counterfeiting, bills with significant tears, missing corners, or damage, such as water or burn marks, may no longer be accepted by businesses like Walmart and Target.
Damaged bills can be assessed and replaced by filing a claim with the Bureau of Engraving and Printing.
Future currency updates are planned, with redesigned $50 bills debuting in 2028, followed by updates to $20, $5, and $100 bills through 2038.
