-Submitted by David Drumm (Nal), Guest Blogger
Kipp Hagaman, an Ivins, Utah man, enters a Chase branch with $3 in his pocket and withdraws $2000, in cash, from his account. He takes the twenty $100 notes and goes to America First Credit Union to pay bills. A teller and the assistant branch manager at America First Credit Union tell Hagaman that one of his $100 bills is counterfeit.
America First Credit Union then confiscates the allegedly counterfeit $100 bill and gives Hagaman a photocopy of the front and back of the bill and tells him that Chase would probably “make it right.”
The Chase Bank branch manager informs him “it’s Chase’s policy that once you leave the building, it’s on you and you should check your money.” Hagaman decided to camp out in front of the Chase Bank branch with a sign reading “Chase Bank Passed Me A Counterfeit $100 Bill!”
I would have thought that banks would have some sophisticated counterfeit detection devices. If the bank is unable to detect a counterfeit bill, is a customer likely to detect it? I never look carefully at those twenties that come from the ATM. How throughly have they been screened?
For a lousy $100, you’d think that Chase Bank would have wanted to avoid the spectacle outside their branch.