While we love our furry companions, sometimes they love our stuff a little too much. If your dog has ever chewed up a shoe, a remote, or even a few dollar bills, you’re not alone. It might feel like that money is gone for good — but the good news is, it doesn’t have to be. Here’s what you need to know if your money is destroyed at the paws of your pet (or if it was destroyed by any other reason, for that matter). At UFCU, we’re here when you need us.
Can damaged cash be replaced?
In many cases, yes. If your bills are torn, chewed, or otherwise damaged, they may still be eligible for replacement — especially if most of the bill is intact. Here’s how we can help.
As a UFCU Member, you can come in to replace damaged dollar bills as a complementary service. Bring your damaged currency into any branch, and we’ll work with you to exchange it when possible. Follow these easy steps:
- Gather all remaining pieces of the damaged bill(s).
- Bring them to your nearest branch.
- Don’t forget to bring a valid ID! (ID is not required for your dog.)
A pet-loving representative will examine the condition of the bill(s) and assist you with next steps. In many cases, we can exchange the damaged bills immediately.
When is cash too damaged to be replaced?
Have you ever wondered, “Can I tape a ripped bill?” If more than half of the bill is missing, or the damage is extensive (burned, heavily shredded, etc.), the process might require additional review. But don’t toss it out just yet! If the damage is more severe, we’ll guide you through other options. We can exchange your currency under the following circumstances:
- More than 50% of the note is present and identifiable as United States currency; or
- Less than 50% of the note is present and identifiable as US currency, and the method of mutilation and supporting evidence demonstrates to the satisfaction of the US Treasury that the missing portions have been totally destroyed.
It might be worth bringing in. Find a branch or set an appointment to get help with damaged money.
Is it illegal to destroy money?
Yes, it is a federal crime to willfully deface, mutilate, or destroy bank bills or coins, and is punishable by fines or up to 10 years in prison. This law aims to prevent fraud and save the cost of replacing money. (There is no firm record of charges ever being brought against a pet.)
Not a Member yet?
Join UFCU today for access to helpful, human support when you need it most — whether it’s everyday banking or when the unexpected happens. Having a financial partner who can help with the unexpected is just one of the ways UFCU supports you.
From everyday banking to moments like these, membership comes with practical benefits designed to make life a little easier.