This guide is a complement to the Cash Services manual of steps (PDF) (CSMOP) and also is not all inclusive of the requirements. If a deposit does not comply with these guidelines, it might be rejected by the servicing commonwealth Reserve Bank and also returned come the defense at your expense, or differences associated with this errors might be charged to the depositor.
You are watching: How much money is 2 bands
The complying with web version was revised march 1, 2019, to reflect alters in the modification CSMOP. This Deposit Visual recommendation Guide is also obtainable in a printable layout (PDF).
Preparing currency Deposits
What come do
Before depositing currency, currency must be all set according come denomination. For $1 through $20 denominations, your deposit(s) have to contain complete bundles. If depositing $50 or $100 denominations, they need to be in complete straps and/or complete bundles.All Denominations: all notes in a deposit need to be clearly more 보다 50 percent of a note to obtain credit. Notes need to be piece counted and also verified because that authenticity prior to depositing. Not suitable currency, currency that is not an ideal for further circulation due to its physical condition (torn, dirty, limp, worn or defaced), have to be included in your constant deposit(s). Notes must be straightened, and all corners and also edges must be aligned.
Preparing currency StrapsOverviewWhat to carry out A strap is a package of 100 notes. Every straps need to contain 100 note of the same denomination and must have actually only one band about them. Include only U.S. Currency. Under no circumstances need to coin or various other valuables be included. Note within the strap might be packaged there is no regard come direction or facing. All record clips, staples, rubber bands and excess ice cream on the note (causing notes to unnecessarily pole together) need to be removed.
CORRECT— As displayed in these examples, notes within a strap deserve to be arranged without regard to dealing with or direction.
CORRECT—This strap is properly and also neatly assembled and includes the teller’s identification and date of verification.
What no to carry out Straps the contain below straps (rubber bands or record clips subdividing notes within the strap) room not permitted.
Strap BandsWhat to perform A tape is a piece of document material supplied to bind or organize together a strap. Each strap need to be bound by just one band. Bands must be used to the middle of each strap. Bands need to be secured around the strap without the band adhesive or securing ice unnecessarily sticking to the note within. Bands should be white document and color-coded (along the edges) come conform to existing requirements of the American Bankers association ("ABA"). Band material must be between 1.00 come 1.57 inches large with one approximate weight of 100 g/sqm, do of record and not artificial materials. Bands should indicate the dollar quantity of currency in the strap, the day of verification and also the initials or names of the people who proved the strap. The size of the band have to be such the the tape wraps the strap once with minimal overlap, therefore no loose flaps (such as a tail) room remaining beyond the adhesive. Because that correct placement of financial institution stamps refer to section “Stamps”.
CORRECT—The strap has a single band of appropriate color-coding and material, and also includes the teller’s identification and also date of verification. In addition, the band has no excess flap.
What not to do Do not use bands with loose flaps. Perform not usage brown paper bands, that is, those bands make of recycled stock paper, as they perform not image well. Bands have to be do of white document to ensure details is plainly captured as soon as imaged.
Band StampsWhat to execute Each band should be stamped v the adhering to information: Institution"s name; ABA routing number; and also Four-digit endpoint number (branch number) of the depositing office (a tape without one office identification number is understood to it is in from the institution’s head office). use black or dark ink (not red) ~ above the stamp to assist ensure great quality images. Use huge and easy-to-read font on her stamp. Refresh ink pads frequently.
What come doAll Denominations The bank stamp on the band might be put on either next of the strap, there is no regard to the portrait; however, straps in ~ the bundle need to be i ordered it such the all financial institution stamps face the exact same direction. (See photo in “Preparing Bundles” section)
Preparing BundlesWhat come doAll note A bundle is composed of 1,000 notes of the exact same denomination in ten same straps of 100 note each. All strap edges need to be vertically aligned into a single organized stack and also oriented in the exact same direction. Straps have to be bound together. Securing the straps with each other to do a bundle may be achieved through the usage of rubber bands or other tension material. The bundle stress and anxiety material: should be secured enough to remain undamaged through transportation and also handling: (1) not also tight regarding overstress the notes resulting in them to bend/crease in ~ the bundle; or (2) not too loosened where the note or straps move about or the tension material breaks or falls off of the bundle; must be secured throughout the quick side at both ends of the bundle (and not on subgroupings of straps within the bundle); and Must allow for clear watch of the currency strap band. all Denominations Straps within the bundle should be i ordered it such the all bank stamps confront the same direction.
What no to doAll notes The bundle need to not contain blended denominations. The bundle tension product must not: it is in so tight regarding cause damage to the notes; be placed approximately the long end of the bundle (i.e., lengthwise); and have any type of residual material (such together a tail) that could risk compromising the shipping bag or the bundles/straps roughly it.
Currency shop that do not fulfill the proclaimed criteria upon investigate at her servicing FRB might be refused.
Currency Bags/ContainersWhat come do only clear plastic bags or clean plastic/metal containers may be offered for deposits. Plastic bags have to be at the very least 5 mils thick or the identical in strength and durability. The bags/containers of deposits have to be securely sealed through a tamper-evident seal, for this reason that any kind of unauthorized accessibility is conveniently detected, and the bags need to be complimentary of holes and also tears. The bags/containers need to bear the institution’s to know (logo and/or name).
To assist ensure your deposit is properly identified and remains secured, the complying with practices are also recommended:If utilizing plastic seals, each bag should have actually a bag sign attached come the seal or in ~ a compartment of the bag different from the currency. The sign must show ABA number (with four-digit endpoint number), institution’s name, and dollar amount of the contents on each bag. The tag should show the bag number (e.g. “Bag___of____”). If making use of a large-capacity money bag for a small deposit, please be certain to cinch or seal the bag in such a way to stop tearing of the straps or break the bundles in transit. Containers have to be secured with tamper-evident seals the have distinct seal numbers with the seal numbers listed to your servicing commonwealth Reserve Bank.
Your servicing federal Reserve financial institution requires friend to include a deposit record with your deposit. Consult v your servicing federal Reserve financial institution for specific policies and also procedures.
What no to perform A full bag must not contain much more than 16 bundles of currency. The bag tag need to not be placed inside the bag.
Contaminated CurrencyWhat to do
Contaminated money is currency that has actually been damaged through or exposed to contaminants, poses a health and wellness hazard or safety and security risk, and cannot be processed under normal operating procedures.
Institutions should attain as much information as possible from your customer regarding the kind and level of the contamination before contacting the servicing commonwealth Reserve bank to deposit contaminated currency.
Note: money which has been damaged to the level that its worth is questionable is not handled by the federal Reserve Bank. These notes, which are frequently referred to together mutilated currency, should be sent out to the office of Engraving and also Printing, Mutilated currency Division, Office of Financial management for validation and redemptionProcedures because that depositing contaminated currency: different contaminated money from normal deposits. Contaminated currency must be all set by denomination, in straps of 100 notes and in bundles of 10 straps. Rubber bands must be provided to secure multiple complete straps and, contrary to regular deposit procedures, must be securely placed around the middle that the bundle.
1All big size currencies; National bank notes, tiny size; federal Reserve financial institution notes, small size; and Gold certificates, little size, series 1928 only.
What is taken into consideration contaminated currency?
Currency may become contaminated early to:prolonged exposure come water or other liquids that results in the visibility of mold. (Note: Wet money that does not show signs that mold is not taken into consideration contaminated and should be dried and deposited under the regular process.) Exposure to blood, urine, feces, or any other bodily fluids, consisting of removal from any type of body cavity, corpse, or animal. Exposure come sewage. Exposure to any kind of chemical, liquid, or foreign substance that may pose a health hazard or safety and security risk. Exposure to tear gas offered in many dye packs. (Note: The dye provided in dye package is not considered a contaminant. Note stained indigenous the dye alone should be deposit normally.)What to do Partial straps the 50 notes or less the a single denomination need to be fans in a means that enables for more than 50 percent that each note to be clearly visible through all of the packaging material. Staples have to be used to secure the fan before the notes are placed into the bag. Partial straps containing in between 51 and 99 note of a solitary denomination have to be wrapped v a file band. The band have to be significant with the piece count and also dollar amount. Contaminated currency must it is in double- bagged, and also the bags need to be big enough come permit motion of the currency inside the bags for initial intuitive inspection. The inner bag need to be a strong, tamper-evident, clear plastic currency bag purchased by your school for depositing v the commonwealth Reserve. Do not use store-bought resealable format bags for the inside bag. The outer bag must additionally be a strong, tamper-evident, clean plastic currency bag offered by your college for depositing with the federal Reserve. the word “CONTAMINATED” must be created in permanent marker and huge letters top top the external of the outer bag. Any kind of exterior print on the bags have to not inhibit the check out of the bagged contents. finish a different Federal Reserve bank deposit record or electronic deposit notification kind that consists of the denominational break down and full of the contaminated currency. The deposit file should accompany the deposit.
What not to carry out Do no include any kind of extraneous items inside or in between the inner and also outer bags. Extraneous items include file clips, deposit documents, bag tags, or dye load mechanisms. The visibility of extraneous item will result in her deposit gift returned. Double-bagging must not inhibit the check out of the bagged contents.
Review the Contaminated Currency and also Coin policy for complete details and also a video on handling contaminated currency and coin.
The federal Reserve DOES NOT expropriate deposits the mutilated currency.What to carry out burned currency the is plainly less 보다 one-half a finish note and cannot be taken on without compromising its verity is taken into consideration mutilated currency. Mutilated currency must it is in sent directly to the BEP’s Mutilated Currency department with a letter stating the approximated value that the currency and an explanation of just how the currency came to be mutilated.What not to do
Unfit contaminated, but not mutilated, currency should not be sent out to the BEP’s Mutilated money Division. The commonwealth Reserve processes this currency; however, money that is both contaminated and also mutilated must be sent to the BEP’s Mutilated money Division.currency that is plainly more 보다 one-half, yet less 보다 a complete note, heavily soiled, limp, worn or torn, is not thought about mutilated, and should be included in a normal deposit.
You may call the BEP"s toll-free number, (866) 575-2361, or visit the BEP website (Off-site) come obtain more information ~ above shipping instructions because that mutilated currency, and to watch photographic instances of mutilated currency.
Coin DepositsWhat to execute Package loosened coin by denomination in plastic or canvas bags. If making use of canvas bags v a tamper- noticeable plastic/string tie and lead seals, connect the correct color-coded tags, showing the denomination, dissension amount, institution identification and ABA with four-digit endpoint number come the seal. Do not ar the tag within the bag. If making use of plastic bags, each bag must be tamper-evident and also have a label on the opposite next of the manage showing denomination, dissension amount, school identification and ABA through four-digit endpoint number.
What not to do as soon as preparing a coin deposit, make sure to piece count and also verify the coin and also not mix coin of different denominations in the exact same bag. Bags uncovered to have mixed denominations may be rubbish by the servicing federal Reserve Bank and returned to the institution at their expense, or differences associated with these errors may be fee to the institution. Susan B. Anthony, indigenous American and Presidential disagreement coins may be bagged together, yet they have to be bagged independently from Eisenhower dollars. Shop of boxed or sheathe coin room not accepted.
Your servicing federal Reserve bank may need you to encompass a deposit file with her deposit. Consult v your servicing federal Reserve financial institution for certain policies and procedures.
Plastic Coin BagsWhat to execute Coin deposits might be do in either standard canvas bags with tamper-evident seals or tamper- obvious clear plastic bags. Clear plastic bags must meet the complying with requirements: need to possess a tamper-evident seal; Reinforced handle able to stand up to hang test through +100 lb. Load or the equivalent in strength and durability; material must it is in 6.5-mil gauge or the equivalent in strength and durability; Size must approximate that of a typical canvas bag; components must be clearly visible v the packaging material; and also Each bag must have actually a label on the opposite side of the take care of showing the denomination, dissension amount, institution’s name and also ABA routing number (with four-digit endpoint number).
Canvas Coin BagsWhat to perform Canvas bags must accomplish the adhering to requirements: each canvas bag must have actually a color-coded tag, in accordance with the ABA standards based on denomination; The tag should contain the denomination, dissension amount, institution’s name and also ABA routing number v four-digit endpoint number; and A tamper-evident seal v the institution’s identification need to be used. If depositing in pallets, bags have to be nicely stacked.
Bent or Partial Coin
The federal Reserve DOES NOT accept deposits of bent or partial coin.bent or partial coin is no redeemable at face value; that is redeemable only at that bullion (metal) value as established by the manager of the U.S. Mint.
The commonwealth Reserve does not accept store of Contaminated Coin. Contaminated Coin must be decontaminated every the guidelines established by the center for disease Control and Prevention (CDC) because that decontamination of surfaces in the “Cleaning & Sanitizing” section. If you want to deposit the Coin after ~ decontamination, call the servicing commonwealth Reserve financial institution for further instructions.
See more: Hummer H2 Cabin Air Filter Location, Hummer H2 Cabin Air Filter Replacement
For complete instructions on Contaminated Coin, visit the Contaminated Coin and also Currency page.
Top of Page