Bakai Bank accepts old series U.S. dollars

Recently, there have been reports circulating online suggesting that banks have ceased to accept “white” dollars—old series banknotes. We would like to clarify that Bakai Bank continues to accept these dollars alongside new currency. However, there are several critical considerations to keep in mind.

Old series dollars, commonly referred to as “white” dollars, are banknotes issued by the Federal Reserve System of the United States prior to the introduction of modern notes featuring enhanced security measures. These banknotes are characterized by a simpler design and possess fewer protective elements compared to their contemporary counterparts.

Notwithstanding their outdated appearance, “white” dollars remain legal tender. However, financial institutions and clients may encounter challenges in exchanging or accepting these notes, primarily due to concerns regarding counterfeiting or a preference for newer banknotes.

As a result of these issues, “white” dollars have seen a decline in demand among clients, leading some institutions to refuse their acceptance altogether. Consequently, these notes are accumulating in bank vaults. To mitigate the surplus of old series banknotes, Bakai Bank is engaging in their transportation and exchange abroad, which incurs additional costs related to logistics and fees from correspondent banks. These expenses are reflected in the commission for cashing U.S. dollars.

Despite these challenges, Bakai Bank remains committed to facilitating transactions involving banknotes from various years of issuance, striving to minimize fees while effectively addressing the needs of our valued clients.