Large Bill
Posted in Uncategorized on 06/12/2006 06:13 pm by admin
Large Bill
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For most retailers, the only line of defense against counterfeiting is an adolescent clerk who holds the large bill up to the light, but has no idea what she is supposed to be looking for. Some however, have a secondary precaution of requiring managers to inspect the bills; managers who despite their post-adolescence, have no idea what they're supposed to be looking for.
Insurance providers do not compensate for counterfeit losses because the policy holder is responsible for regulating the currency that it willfully accepts. Even more alarming is the near certainty that businesses, banks included, that pass along counterfeit money will not assume liability for it.
The best way for a company to protect itself against "getting stuck with the [homemade] bill" is to use a money counter with counterfeit detection. Banks have them. When making a substantial withdrawal or cashing a sizeable check, insist that the teller use the counter rather than her fingers. Even if it seems petty, it's less of a hassle than attempting to recover counterfeit funds.
Also, every business should have a counting machine with the counterfeit detection feature to ensure that all the paper money that changes hands is money and not just paper. Depending on where it's purchased, companies can buy money counters for less than one of the most commonly falsified bills.
It takes no more effort to check with a machine than with a manager and by doing so, the clerks and managers can stop pretending they know how to spot a fake. So in a way, buying a money counter prevents counterfeiting twice.
For more information, please contact the Supervisor of Marketing at 1-800-658-8788 ext.140
Taylor Harward is among the foremost authorities on business financial efficiency.
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