Property Manager · Passaic, NJ · Member since 2008 · 369 posts · 83 votes
This is now 3 times I have accepted cash for either security deposit or rent and have gotten burned. I'm sticking to money orders!!! $300 in counterfeit bills - the bank took it - photocopied it so I could have a copy and told me to go back to the tenant. Well of court the tenant says "the bank gave me the bills when I cashed my paycheck so its not my fault".
Financial Advisor · Tampa Area, FL · Member since 2008 · 956 posts · 214 votes
17y
jon is correct, MOs can be easily forged as well.
i would get a pen. they work well. the bank that took the bills is required to send them to the secret service.
to be honest, it would be VERY, VERY difficult to prosecute. there is really not a way to prove (legally) who gave you the bills.
even mike seperating the bills would not protect him. billions of $$$ of currency exchange hands, there is no way to prove that those are the bills they gave u.
as is with a check, the person that deposits can be held responsible. even if being held 'responsible' means justnot getting credit for the funds.
if u really want to be safe, get a mobile blacklight currency detector. they work wonders!
the LAST thing i would do is not accept cash. u are far more likely to get a fake MO or rubber check than counterfeit cash. while u may have more recourse with the check/MO, there is more risk of not getting paid.