I was at Subway over lunch and noticed the branch I frequent no longer accepts travelers cheques. Who pays for a sub with travelers cheques? They’re also not taking any $50 or $100 bills, I expect because they’ve been hit by the recent “flood” of faux fitties and hundos in the area. According to a local paper:
Counterfeiters, most likely experienced and just passing through the state, have struck at least three Iowa cities and flooded the market with fake $50 bills, Iowa City police reported Wednesday.
So far, somewhere between 12 and 18 fakes have been identified in Iowa City and Coralville. Businesses that have been targeted include Hollywood Video, Cost Cutters, Mr. Movies, and several stores in the Coral Ridge Mall.
I’m a huge fan of debit cards. HUGE. And the story above is only one of the many reasons why.