old us dollar series 1996 2003 2006

[Evie]

Does money changer in philippines still accept old us dollar 100 with series of 1996, 2003, 2006?  

[Mike J]

Evie.  I believe all the members here will see this is a very odd "first" post.  If you have a legitimate reason for asking you can further explain.  Changers are more concerned with the condition of the bill than the date.  If a money changer would not accept them, you could always take them to the bank.

[Evie]

Oh, my apologies.  i had these us dollar with me for quite some times.  I never thought of using them cos i thought us dollar can be kept for emergency use. 

Few days ago, i took them out and went to the money changer in Malaysia but they say they dont accept them because they are old notes.  This is when i panic.  I tried other money changer but to no avail.  I googled and found out that lots of countries dont take these old series of us dollar which I wasnt aware at all.  

All I know is they are still usable in USA  but I am not going there.  Then I heard my friend said Philippines still accept.  That's why I am asking if they really accept.  If they do, its easier to fly in there instead of USA.  

The condition of the note is very good cos it was kept aside all the while.  Hopefully somebody can gv me insight if they still accept.  Thanks in advance.

[Mike J]

Thanks for the additional detail Evie and welcome to the forum.  Hopefully someone here can you give you a definitive answer to your question.

[Dave Hounddriver]

20 minutes ago, Evie said:

Few days ago, i took them out and went to the money changer in Malaysia but they say they dont accept them because they are old notes.  This is when i panic.  I tried other money changer but to no avail.  I googled and found out that lots of countries dont take these old series of us dollar which I wasnt aware at all.  

Yes, I have heard this many times.  The USA changed it's money to make counterfeiting harder and it is now hard to exchange the old notes outside the USA.  I do not think most money changers here accept them but it is possible you may be able to open a US dollar account and deposit them.  Perhaps they would put a hold on the money but my educated guess is that is the only way to cash them here. . .  But you could likely do the same in Malaysia or any country which allows you to open a US dollar account.

[Evie]

Thanks Mike J for pointing out my wrong.  I’m anxious for an answer lolz that’s why I went straight into the point 😅 Felt very lost and panic when I found out they weren’t accepted cos of the old series 1999 2006 etc ...   really hope someone can shed me some light.  🙏🏻 Thank you.

 

[Evie]

@Dave Hounddriver Thanks for your prompt reply.  I had doubt too When my friend told me Philippines accept them. Then I googled and saw a forum quoted at Jan 2019 someone change without problem in Philippines that’s why I wanted to re confirm.  Btw do u know the minimum requirement to open a US dollar account?  Thanks 

[Dave Hounddriver]

24 minutes ago, Evie said:

do u know the minimum requirement to open a US dollar account?

Each bank has a different minimum and you would be dealing with Singapore banks or Malaysian banks so best to ask them.  In this area of the Philippines I have heard of requirements as low as US$100 in Metrobank but the ones doing that are retired US expats.  I think you need to convince them that you will depositing a minimum of US $500 per month on average or they will not do it for you.  If you can get past that hurdle then go back there in a month and tell them you have changed your mind and you want to close the account and withdraw your money.  It occurs to me that you may be charged service fees for doing this so maybe someone else has a better idea.

EDIT:  Do you have any bank account at all?  If you go into a bank that knows you and ask the manager if he can accept the US dollars and deposit them to your bank account at the prevailing exchange rate then it may be possible to do that.  The differnce between doing that and going to a money changer is the bank knows you PLUS they can put a hold on your account if the bills are suspect.

Edited July 31, 2019 by Dave Hounddriver

[Evie]

 

@Dave Hounddriver  yes i think it’s reasonable for the service charge.  But since my old us notes are no longer accepted in Malaysia, I don’t think they will take them to open the account, is that right?  

[robert k]

51 minutes ago, Evie said:

 

@Dave Hounddriver  yes i think it’s reasonable for the service charge.  But since my old us notes are no longer accepted in Malaysia, I don’t think they will take them to open the account, is that right?  

Evie, they might accept the bills for deposit and put a hold on them for a period of time as Dave said, it's worth a try and no risk to the bank.

I have exchanged old bills in the Philippines (SM department store or SM supermarket), the condition being the only thing that mattered to them. I had one where Franklin's portrait was a little frayed that they protested but took after I told them that old Ben was not one of the security features. The only bills they absolutely wouldn't take is one that someone scribbled on the margin. I can certainly understand why you find yourself holding old bills. If all the old US currency came out from under the mattress it would be a massive amount. The sad thing is, your Dollars lost a lot of value in the last 20-30 years. If a trip to the US is out of the question due to visa constraints, The Northern Marianas Islands are US territory and very lenient on who may enter and for how long, and of course they use the USD. Welcome to the forum

Edited July 31, 2019 by robert k
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