In Woolies this am with my 98 yo Mum. The cashier refused to accept a $10. note that had about 1 cm missing from an edge.
I mentioned nicely that during employment with the Commonwealth Bank some decades ago, I was the ComBank delegate for the Reserve Bank of Australia.
This role involved ordering, receipt and re-issue of new notes from the RBA and distribution to the local banks.
It also involved receiving 'mutilated' or very dirty and worn notes from the banks and destroying them 'on-site' by punching holes in them with a massive machine that made 'money confetti'.
In other words, I knew a bit about what constituted legal tender.
I told her that any genuine Australian banknote comprising more than 50% of the note is legal tender and should be accepted for commercial transactions but ultimately withdrawn from circulation at the point that it contacts the banking system.
(Any part of a note less than 50% is worth nothing)
Her supervisor said that it was not acceptable as part of the serial number was missing (the part of the note that is missing is irrelevant)
She then said that "Armaguard will not allow us to give them these notes".
It seems Armaguard call the shots with Woolworths - who'd have thunk it!
She said I needed to go to the bank and get it exchanged (so banks will accept it but Woolies will not)
I went to my bank on the way home and the tellers were greatly amused at Woolies' attitude and agreed that what I had been told could only be explained by being part of some bizzare corporate policy of Woolies.
I have contacted Woolies National Contact Centre and will let you know how this plays out.
I mentioned nicely that during employment with the Commonwealth Bank some decades ago, I was the ComBank delegate for the Reserve Bank of Australia.
This role involved ordering, receipt and re-issue of new notes from the RBA and distribution to the local banks.
It also involved receiving 'mutilated' or very dirty and worn notes from the banks and destroying them 'on-site' by punching holes in them with a massive machine that made 'money confetti'.
In other words, I knew a bit about what constituted legal tender.
I told her that any genuine Australian banknote comprising more than 50% of the note is legal tender and should be accepted for commercial transactions but ultimately withdrawn from circulation at the point that it contacts the banking system.
(Any part of a note less than 50% is worth nothing)
Her supervisor said that it was not acceptable as part of the serial number was missing (the part of the note that is missing is irrelevant)
She then said that "Armaguard will not allow us to give them these notes".
It seems Armaguard call the shots with Woolworths - who'd have thunk it!
She said I needed to go to the bank and get it exchanged (so banks will accept it but Woolies will not)
I went to my bank on the way home and the tellers were greatly amused at Woolies' attitude and agreed that what I had been told could only be explained by being part of some bizzare corporate policy of Woolies.
I have contacted Woolies National Contact Centre and will let you know how this plays out.

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