Banks Abroad May Not Accept “Green” and “White” Dollars
Abroad, banks and stores may refuse to accept old dollar bills.
Although in the United States itself, so-called green and white dollars are required to be accepted everywhere.
Abroad, banks and retail outlets do not have such obligations and set their own rules, writes RBC .
Banks refuse to accept old bills for fear of counterfeiting. Institutions that cannot verify their authenticity do not want to take risks.
Central banks periodically issue new banknotes with improved protection against counterfeiting in order to keep up with technological developments.
In countries where the dollar is not an official currency, additional fees or restrictions on transactions with such banknotes may apply.
Experts note that the number of counterfeit dollars in circulation remains significant.
Therefore, many foreign banks and companies do not want to accept “green” and “white” dollars, preferring new banknotes with modern security.
