The bank, whatever it is, can send the notes to the Bank of Spain. The system suspects that you received a counterfeit note.
It’s not called Multibanco. It’s not even the same as Multibanco. Here are boxes ATM, widely used in Spain, just like in Portugal, in fact.
The Bank of Spain has published a warning: when you deposit banknotes in an ATM, regardless of the bank of the account, these notes may not go through to your account – they may be retained and sent to the Bank of Spain.
The reason is simple: the system suspects that at least one note has been deposited false.
The Bank of Spain reminds us that financial institutions are obliged, by European regulations (), to withdraw from circulation all euro notes and coins that are counterfeit or suspected of being counterfeit.
How it works
If there is a suspicious note, the bank is obliged to send it to the Bank of Spain, at the latest 15 working days following for analysis.
If the system detects that a note may be counterfeit, it automatically keeps the note and issues a proof, indicating to the user that it will be sent to the Bank of Spain for verification, explains .
At older ATMs where you can insert an envelope, the bank reviews the deposit later; and notifies the customer if any notes appear suspicious.
When the note is retained, the bank records the case in a specific Bank of Spain application: owner details and IBAN – to which the money will be transferred if the note is considered authentic.
The person without the note can check the progress of the process; or contact the bank directly, or through an application called “Check File”.
The National Analysis Center analysis the suspicious note: if it is authentic, the amount is credited to the indicated IBAN account as quickly as possible; if it is false, the money is not returned.
Feel, look, lean
The obvious question: how long Does this process take long?
There is no set deadline. Cases are processed on a first-come, first-served basis.
The Bank of Spain recommends that you examine the money when you receive it to avoid fraud.
It’s the method “feel, look, lean”: feel that characteristic texture of euro notes, look at the note against the light (see watermark, the window with the portrait or the security thread) and tilt it – the silver stripe reveals a portrait and the emerald green number produces a metallic shine when moving.
