FedCash® Services Currency Depositing and Ordering

Deposit Process and Standards

Federal Reserve Banks accept only genuine, U.S. currency for deposit. Deposits of the following are NOT accepted at the Federal Reserve Banks:

  • Foreign currency,
  • Mutilated currency,
  • Contaminated currency, and
  • Counterfeit or unlawfully altered currency.

Institutions should forward counterfeit or unlawfully altered currency directly to their local U.S. Secret Service office. If the Federal Reserve Banks detect counterfeit or unlawfully altered currency in an institution’s deposit, it is forwarded to the Secret Service, and the institution is charged for the difference.

Employees preparing currency for deposit with the Federal Reserve Banks should reference the following Deposit Quality Standards periodically to ensure your institution is following the proper procedures.

Currency Deposit Quality Standards:

  • Use only clear plastic bags or clear plastic or metal containers that bear your institution’s identification (logo and/or name);
  • Bags/containers must be securely sealed. Bag seals must be tamper-evident;
  • Bundle the currency by denomination in ten equal straps (100 notes in each strap). A full bag may not contain more than 16 bundles;
  • $1 through $20 denominations must be deposited in full bundles;
  • $50 and $100 denominations may be deposited in full straps or full bundles;
  • Straps of $1 through $20 denominations may be packaged without regard to facing or direction, but must be arranged in the bundle with the bank stamps facing in one direction;
  • Straps of $50 and $100 denominations must be faced (portrait side forward), and the orientation of the portrait may be right-side up or upside down. The bank stamp must be placed on the back of the band, not the portrait side;
  • Bands must be color-coded along the edges according to ABA standards;
  • Banding material must be between 1.00 to 1.57 inches wide, with an approximate weight of 100 g/sqm, and made of paper (not synthetic materials);
  • Each band must be stamped with your institution’s name and ABA routing number, the four-digit endpoint number of the depositing office, dollar amount in the strap, initials or names of the persons who verified the strap, and date of verification;
  • Remove any pins, clips, staples, or rubber bands;
  • Your servicing Reserve Bank may require a deposit document. Consult your local FedCash Services contact for details.

For details about currency depositing procedures, please refer to the Cash Services Manual of Procedures. To view examples of correct and incorrect deposit procedures, please refer to the Deposit Visual Reference Guide.

Cross-shipping

In accordance with the Federal Reserve’s Recirculation Policy, which has been in effect since March 2006, institutions should carefully review their deposit and order practices to avoid cross-shipping or, in cases where cross-shipping is necessary, plan for payment of a Recirculation Fee.

As of July 2007, a cross-shipping fee is charged to institutions that deposit fit $10 or $20 notes at a Reserve Bank and then order the same denomination, above a de minimis amount, during the same business week within a Federal Reserve Bank Zone or Sub-zone.

Please refer to the Currency Recirculation Policy for details.

Frequency of Service

For each endpoint, normal cash service is one deposit and one order of currency per week. The Federal Reserve Bank recognizes that factors such as volume and cost may require less frequent service to some endpoints and more frequent service to others.

We may, at our discretion, reduce cash orders to maintain currency inventories. The Federal Reserve Bank may refuse deposits, defer or reverse credit, and/or return deposits if a Depository Institution fails to comply with any of the terms of Operating Circular 2. Returns are at the Depository Institution's risk and expense.

Please refer to the Uniform Cash Access Policy (UCAP) (PDF) for additional information.

Standard Depositing and Ordering Units

Standard units for depositing and ordering are as follows:

Denomination Standard Strap
(100 Notes)

Dollar Amount		 Standard Bundle
(1,000 Notes/10 Straps)

Dollar Amount		 Standard ABA Color Code
Ones N/A $1,000 Blue
Twos N/A $2,000 Green
Fives N/A $5,000 Red
Tens N/A $10,000 Yellow
Twenties N/A $20,000 Violet
Fifties $5,000 $50,000 Brown
Hundreds $10,000 $100,000 Mustard

List of Registered Manufacturers of Currency Deposit Bags*

Vendor Info (XLS)

* Optional vendors for all customers except New York customers who must use a vendor from this list.

Access to Currency and Depositing

Institutions may order currency via FedLine® Web.

For more information about FedCash Services processing and operations, visit the service offerings pages or consult your local FedCash Services contact.

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