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are you suggesting that the serial number of every note you withdraw is registered against your account?

greyface- 3y ago
Modern ATM bill acceptors have sensors that can read serial numbers off of bills. I don't know whether it's been publicly stated that this occurs (and don't have any relevant personal knowledge, either), but the capability exists in the field.
- RulerOf 3y ago
  I'm not sure if I'd be surprised either way. Either they don't track bills because it costs too much money, or they do track bills because they've found a way to monetize the data. I scarcely use ATMs at this point because they won't hand out "large" bills. Inflation will be the real driver of cashless adoption, as the absurd number of $20 bills (and eventually, $100 bills) you need to pay for anything these days makes using cash too difficult for the average person.
walterbell 3y ago
Technology exists. Policy will vary. https://www.amazon.com/NUCOUN-VC-7-Denomination-Counterfeit-Detection/dp/B09J17G7NB https://www.amazon.com/NUCOUN-VC-7-Denomination-Counterfeit-... > Money Counter Machine with CIS Technology: Equipped with one pair 200DPI Contact Image Sensors, scan and detect each counted bill like human eyes.. counts the quantity, reads the denomination and currency type, calculate the total amount at one time pass. Turn on serial number reading function to record serial number and all the counting details can be printed directly or exported to PC , very helpful for money tracking and management.
nirvdrum 3y ago
It looks to me like there's two different notions of cash tracking being discussed. One is tracking individual bills and the other is tracking transactions that involve exchanging goods or services for cash.
SoftTalker 3y ago
If the bank teller counts out the cash from a drawer and hands it to you, no. If he runs it through a counting machine, or you get the cash from an ATM, maybe?
whartung 3y ago
I admit this is a bit of tin hattery. But that said at my bank the cash is distributed from machines that the teller uses. You go up, make a withdrawal, they type the amount into the machine and bills are counted out. I am sure this offers several advantages to the bank. That said, however, maybe I can see it being straightforward for these machines, along with ATMs, to log bill serial numbers as they’re distributed. I have no idea if this is being done, simply, at least at my bank there’s an avenue for it to happen. I would also freely admit that it would be an imperfect system. But still food for thought.

Modern ATM bill acceptors have sensors that can read serial numbers off of bills. I don't know whether it's been publicly stated that this occurs (and don't have any relevant personal knowledge, either), but the capability exists in the field.

RulerOf 3y ago
I'm not sure if I'd be surprised either way. Either they don't track bills because it costs too much money, or they do track bills because they've found a way to monetize the data. I scarcely use ATMs at this point because they won't hand out "large" bills. Inflation will be the real driver of cashless adoption, as the absurd number of $20 bills (and eventually, $100 bills) you need to pay for anything these days makes using cash too difficult for the average person.

walterbell 3y ago

Technology exists. Policy will vary. https://www.amazon.com/NUCOUN-VC-7-Denomination-Counterfeit-Detection/dp/B09J17G7NB https://www.amazon.com/NUCOUN-VC-7-Denomination-Counterfeit-... > Money Counter Machine with CIS Technology: Equipped with one pair 200DPI Contact Image Sensors, scan and detect each counted bill like human eyes.. counts the quantity, reads the denomination and currency type, calculate the total amount at one time pass. Turn on serial number reading function to record serial number and all the counting details can be printed directly or exported to PC , very helpful for money tracking and management.

nirvdrum 3y ago

It looks to me like there's two different notions of cash tracking being discussed. One is tracking individual bills and the other is tracking transactions that involve exchanging goods or services for cash.

SoftTalker 3y ago

If the bank teller counts out the cash from a drawer and hands it to you, no. If he runs it through a counting machine, or you get the cash from an ATM, maybe?

whartung 3y ago

I admit this is a bit of tin hattery. But that said at my bank the cash is distributed from machines that the teller uses. You go up, make a withdrawal, they type the amount into the machine and bills are counted out. I am sure this offers several advantages to the bank. That said, however, maybe I can see it being straightforward for these machines, along with ATMs, to log bill serial numbers as they’re distributed. I have no idea if this is being done, simply, at least at my bank there’s an avenue for it to happen. I would also freely admit that it would be an imperfect system. But still food for thought.