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Topic: Scotiabank ATMs replacing $10 notes with US $20 notes?  (Read 10562 times)
AJG
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« on: March 05, 2024, 07:33:55 pm »

I noticed today, when I went to the Scotiabank today, one of the ATMs had supposedly replaced $10 notes with US $20 notes.  If memory serves correctly, by August last year the ATMs had replaced $5 notes with $10 notes, and it makes me wonder that, with this latest development, all ATMs at Scotiabank will replace the smallest denomination with US $20 notes, and the $10s replacing the $5s was nothing more of a stopgap measure and the corporation had no intention to make the $10 notes in ATMs a permanent thing?  Could this be the beginning of a phase-in period for US $20s replacing $10s in Scotiabank ATMs?

I have a feeling that all Scotiabank ATMs will be ten-less by summer.
Breanna72
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« Reply #1 on: March 06, 2024, 01:02:00 am »

I noticed at my branch today that tellers were able to obtain US currency in all denominations from the cash dispensing machines behind the counter, the same ones that dispense Canadian.  I mentioned it to the teller and she confirmed that this was a 'new feature' that saves tons of time instead of them having to retrieve US currency from a time lock safe.

As for US from an ATM, I wonder how the transaction amount is calculated? what exchange rate they use at ATMs?  I'd rather deal with a teller for US. 
« Last Edit: March 06, 2024, 01:08:11 am by Breanna72 »
AJG
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« Reply #2 on: May 12, 2024, 09:15:49 pm »

To this date, only one ATM in my branch dispenses US $20 bills.  All the other ATMs dispense $10 bills.

Also, I did speak to a woman at the branch a few weeks ago and asked why the ATMs dispense $10 bills instead of $5 bills.  And the answer is very interesting.

Strangely enough, it is not due to $5 bills going through so much wear and tear and not getting replaced as often.  And it has nothing to do with demand.  It has to do with a "bigger is better" attitude, which is something many Canadians seem to have.  Canadians have been complaining about getting two $5 bills instead of a $10 - and the staff person believes it is just "silly" as two $5s still equal $10.  I am one of those Canadians who have this "bigger is better" thing to some extent, because I do not want $20 bills from banks (yes, I'd rather $200 in $10s over the same amount in $20s).
« Last Edit: May 12, 2024, 09:18:03 pm by AJG »
 

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