For better or worse, many people don't regularly carry much cash. Yet, for those who still prefer to pay in cash, Walmart, Target, and many other stores are now enforcing a new cash policy at Missouri stores that might cause them to refuse their money.

What Money Might Not Be Good At At Stores Like Target & Walmart?

According to AS USA, Bills classified as mutilated will not be accepted. For example, bills with cuts, damaged edges, or discoloration will not be accepted at stores like Walmart and Target. The bill's denomination isn't essential; anything from a $1 to a 10,000 dollar bill can be rejected if it's mutilated.

Why?

The Bureau of Engraving, the Secret Service, and the Advanced Counterfit Deterrence Steering Committee have implemented this policy to strengthen the monetary system, prevent counterfeit bills from entering circulation, and prevent worn-out bills from staying in circulation.

What Can I Do With My Mutilated Money?

If you find yourself with some mutilated money that you'd like to redeem, you'll need to contact the Bureau of Engraving and Printing. They have a page defining what it takes for money to be considered mutilated and how individuals and businesses can redeem their mutilated currency for full value. You can find more information about this process here.

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The Bureau of Engraving and Printing receives over 22,000 requests annually to examine mutilated currency, estimated to be worth over $35 million. The bureau says the most common causes of bill mutilation are fire, water, chemicals, explosives, animal, insect, or rodent damage, and deterioration by burying.

AS USA says that stores like Costco, Dollar Tree, and supermarkets will enforce the new policy in addition to Walmart and Target.