Send it to me

[legion]

I'll dry it out, and send back whatever I deem to be salvageable.

Wisconsin floods ruin all the cash at 1 bank | Fox News

A Wisconsin bank announced in a Facebook post last week that it was open again -- after flood water hit its vault and ruined the money inside, WISN reported Monday.

“Water got up to 21 inches high throughout the entire bank,” Fox River State Bank president and CEO Keith Pollek told the station.

There was “stuff floating everywhere - chairs, equipment” at the bank in Burlington, he recalled. Pollek said at the time that “all of the cash that was in the vault will need to be replaced.”

Heavy rain struck the town southwest of Milwaukee July 11 to July 12, the Journal Times reported.

“All the payments were handled, loan applications were taken,” Pollek told the newspaper. “We never skipped a beat with the blessing of a second office in Lake Geneva nearby.”

Some of you may have seen on the news that the cash in our vault was ruined,” the bank said in a July 18 Facebook post. “Don't worry, it has been replaced with clean and safe cash. So any cash you get is ready and safe to be used.”

[pwd72s]

Bankers call such bills "Mutts", short for mutilated. The routine is to ship 'em back to the Fed, where they are replaced. After she retired, Cindy told me how her small local bank shipped 'em back...through the post office. They'd just have one of the young tellers walk a few blocks to the post office with a package. Criminal types must have been none the wiser. Sounded pretty lax to me...

The bank has long since been bought out by a larger bank. I'm guessing their security is tighter than then.

[legion]

Most money I've seen: about $20 million in $20 bills on a counting table in the fed.

Most money I've held: about $350,000 in various bills from an armored car (I worked at a bank and it was my turn to put it in the vault).

Most loose cash I've held: about $30,000, when my drawer got full during a rush taking cash deposits in Cicero, IL.

[Neilk]

Just had an interesting story on NPR about the office at the Fed that handles mutilated money. Here's the link.

[pwd72s]

Originally Posted by legion

Most money I've seen: about $20 million in $20 bills on a counting table in the fed.

Most money I've held: about $350,000 in various bills from an armored car (I worked at a bank and it was my turn to put it in the vault).

Most loose cash I've held: about $30,000, when my drawer got full during a rush taking cash deposits in Cicero, IL.

Cindy was a teller before becoming a loan officer. To her, it was just paper with numbers on it. Had to keep the count correct, so was good at counting. Still amazes me to watch her count money, turning the bills with her thumb...

[nzporsche944s2]

All our money is plastic. Put it through the washing machine no problem - you can't even tear the damn stuff