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Another Reason to NOT get Foreign Currency in the USA

We are just getting ready to go out for the day in lovely Vilnius, Lithuania. I had wanted to post this before, after a couple weeks, I totally forget.

We always get a bit of starter cash for our trips (especially since we seem to hit different countries with different currencies) because it's convenient for us. I have read all the posts with reasons not to such as poor exchange rates aren't good or it's not safe and so forth.

Upon arriving last night we went for a stroll and wanted something to eat - something small - and rather than go to a restaurant we spotted a cafe with a lot of gelato (ahh, lucky us!). When I went to pay with a 20 litas bill the young woman kind of said very loudly "too old" and said something else to the crowd (clearly in Lithuanian). I was a bit stunned but then she grabbed another 20 litas bill from another customer and put it next to mine. Mine was from 1997 and the coloring is different than the one next to it from 2001. Luckily, I had a couple 10's that were in the 2000 range that were sufficient.

When we got back to the hotel we asked the reception what the deal was and they explained the 'older' bills are just not accepted and he asked where we ever found that money. (How embarrassing!) So, we took out what cash we had and went through it with the gentleman - he showed us the ones with 1990's were too "old" but that we could go to the bank and exchange them for newer ones and they would get rid of the old(this impacted about half of the cash which we didn't actually have that much of). He was even happy to accompany us to a local 24 hour bank but we decided we'll go over there today and take care of it.

This would be the last reason that would ever occur to me to NOT purchase money in the USA prior to leaving so I wanted to share with everyone. I didn't know money got "old"! Wish us luck that this doesn't happen in Latvia, Estonia or Russia!

Posted by
33784 posts

Ali,

The new for old happens all over Europe fairly regularly.

The £10 and £20 British notes change every few years and the old ones are usually good for a couple of months after.

As you said, banks will exchange.

Our £10 one is about to change.

Posted by
16249 posts

I was doing some clear out the other day and found 75 British Pounds with dates from 1991-1993.

I guess my idea of using them to pay my tube fare from Heathrow may not be feasible.

Posted by
19273 posts

Ali, it might help if you explained to us from what source you got the foreign currency. Was it from a major bank (Well Fargo, Chase, BofA, Amex) with a foreign currency operation? I don't think you have given us a good reason not to get foreign currency in the US, just a warning about where to get it.

In 2001 I took with me some German Mark I found from a past trip in 1990. German Rail wouldn't take it, but I exchanged it at a Deutsche Bank, no problem. I took Mark with me to Germany in December 2001 and exchanged it for Euro when Europe converted on Jan. 1, 2002. I don't think they've changed the Euro since.

Posted by
408 posts

I just wrote of our experience with "old" New Turkish lira. (We too had just eaten ... an evening meal. Luckily they took € or we might be washing dishes, or worse. ;-} ). We got those notes at our bank but in 2007, for a trip that was cancelled, so it was entirely on us to have not known about the YTL to TL change last year. The bank here (Istanbul) exchanged them without a blink.

Nigel - We didn't know the £ notes went stale! We always save our £ notes (& coins) from year to year. We ate in a pub a few days ago so hopefully the rest of the pile o' notes I'm staring at are good. How would I tell? The 10£ says 1809-1882 ... oh, wait, that's Charles Darwin's bday! There is a tiny (c) date in a circle of text ... looks like it reads 1999 on the 20£ Notes and 2000 on the 10£ notes. The 50£ notes might read 1994, in a really tiny font.

Posted by
9215 posts

I have had the same problem here in Germany exchanging US dollars. The banks won't take the old ones and they won't take the sort of bedraggled ones. I had about half my dollars refused one time.

Posted by
16249 posts

One thing you can say about U.S. currency...no matter how old it is, it's still good. And sometimes worth even more.

Does anyone know if there is an actual bank at Heathrow? Not just an ATM, but an actual bank. (I've searched and couldn't find one.)

Posted by
289 posts

Hi everyone,
This is the first I heard this could happen - had no idea on the pounds..I have some from a couple years ago from London, guess they will be souvenirs by the time I get back!

Back from our day in Vilnius (what a great city, btw). Yes, my jegleg is showing a bit - sorry, we got it from Bank of America (and have the last 3 trips without issues) and that is why I posted. It's big bank, therefore you assume you are good to go.

We went to a Parex Bank - it's 24-hour chain here that is open all week. There are actual tellers there all night (crazy). We went in, got in line, went to the teller (she knew little English but it didn't seem to matter) and told her the money was old and asked for new money, she repeated "old" and looked over the bills and took it and gave us all new bills - no other questions. So, luckily we are in a city with 24 hour banks (since it is Sunday) and it was easy to get new money and close to our hotel. We looked over some of our Latvian currency and there are some bills that are very old compared to others (of same denomination) so we'll see if we have the same issue elsewhere.

Posted by
9110 posts

Does anyone know if there is an actual bank at Heathrow?

Off the top of my head, the only airports I can recall seeing a full-service bank are (not surprisingly) Zurich, and Hong Kong. At Schipol some of the currency exchange desks are operated by "real" banks like ABN Amro.

Posted by
16249 posts

Thanks, Michael.

I did some reading and it seems I'm going to have to go down to the Bank of England to exchange my "old" money as they may be too old for regular banks to exchange. (Although I will give it a try.)