System stains banknotes with ink when they are forcibly removed from ATMs or valuables transport. A dollar bill can be rejected for various reasons.
The Central Bank of Ecuador (BCE) informed citizens that it will not accept dollar bills at its windows if they are inked. That a ticket is stained with violet, green, blue, red or black ink is considered a sign that it could be the product of a criminal act, and that is why you will no longer be able to carry out transactions with it. In this way it loses its exchange value. “The ink marks on the bills are notorious and allow the stolen money to be easily identified and thus prevent its free circulation,” the entity explained.
It is that inked banknotes are now a new category of banknotes that are not accepted by the ECB after having approved last week the Intelligent Banknote Neutralization System, also know as banknote inking system, whose objective is to deter crime, reduce theft and protect monetary species.
The system works with a special device that ejects ink when banknotes are stolen or attempted to be stolen. Banknotes get stained and are then permanently marked. Thus, the Bank’s recommendation is that this type of banknote is not accepted in shops or banks. If these bills are accepted, carriers will have problems depositing or paying them. The ECB will not accept them.
“Once stained, the notes can only be exchanged by the affected financial institution at the ECB” and not by citizens, indicates the ECB.
The ECB He explained the characteristics of the ink that the various financial entities are going to use. The ink generates visible stains and they spread towards the center of the banknote, they are usually more evident towards the edges. Ink color may vary, may be violet green, blue red or black. It is a permanent ink that can no longer be removed. The ink it is not toxic or harmful for human health.
Thus, according to the Central Bank, there are at least three cases in which The ECB does not accept banknotes: if they are inked, if they have been burned and if they are contaminated or mutilated. The ECB reiterates that if the burned banknotes have the same damage pattern, are broken into several pieces and/or have a lot of tape, they cannot be exchanged. On the other hand, there are other cases in which the ECB can accept a banknote even if it is not in optimal conditions. For example, if they are damaged or torn, with a minimum amount of tape, stained or altered, as long as it is legible and the paper is consistent. They may also be incomplete, as long as the existing portion is greater than 55% and not severely damaged.
The issue of inked banknotes not yet widely spread among the population. Maria Medina (28), who She attends a bakery in the north of Quito, says the owners of the premises have not yet told her anything about the inked bills, but she says that she is going to ask them, because she likes to be well informed.
Rosario Arias (30), cashier of a food establishment, also assures that he has not received any disposition regarding inked bills, but he does comment that when a client comes with torn bills or with adhesive tape, he prefers not to receive them.
Precisely in these days the Central Bank of Ecuador carries out dissemination campaigns with the aim of raising public awareness about the uselessness of inked banknotes. Likewise, a campaign is carried out through the media.
Additionally, the BCE and the financial entities are working together to carry out informative campaigns on the security system for inked banknotes. The Bank reported that it will work with private sector institutions through its various channels to reach the largest possible audience.
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