Q. I cashed my paycheck at Bank of Hawaii earlier this month and went shopping at Pali Longs Drug store. When I went to pay with a $100 bill I got from the bank, the cashier informed me it was a counterfeit. Police were called and after an hour, I was let go. The police took the bill and gave me a receipt. I went back to the bank and explained what happened. They were sorry, but didn't reimburse me for the $100. What can I do?

— Willie Gonzales, Honolulu

A. You're in luck.

Ordinarily you'd be stuck with the receipt and an apology. That's typically the way it is when some unfortunate person discovers he or she's got a counterfeit bill. It's confiscated and you're not reimbursed for the loss.

Or worse, the police might not have believed your story and arrested you.

But Bank of Hawaii spokesman Stafford Kiguchi apologized for your inconvenience and embarrassment and said you should pay another visit to your bank branch.

"We want to correct this for the customer," Kiguchi said. "If the customer can bring the HPD receipt back to the branch and we can verify the transaction, we will refund the $100."

Usually, possessing a counterfeit bill is a little like playing a game of musical chairs. You're out of luck if you are the last one with the bill when the authorities discover it's bogus.

"The last one with it is generally the guy who loses the money," said Danny Pierce, a supervisor in the Honolulu office of the U.S. Secret Service. He said the Secret Service doesn't reimburse people for contraband money that's confiscated.

"It wouldn't be fair to make the taxpayer reimburse you for it," Pierce said. He said the loss can be eligible for a tax deduction, though it's best to check with your accountant or tax adviser because situations vary.

You can understand why the Treasury Department wouldn't want to start reimbursing people with bogus cash. If it did, the department would have counterfeiters lined up claiming they should be paid off for pieces of paper they minted.

Pierce said counterfeiters usually try to pass bills at mall stores, darkly lit bars, convenience stores or high-volume merchants during busy times.

Most of these are discovered when they are deposited in banks, which have sophisticated screening equipment. In those cases, the merchant will be out of the money deposited because it, too, will be confiscated with no reimbursement.

It's possible the false currency in your situation was deposited with the teller during the day and was given back out before a complete screening of the bill was done.

Pierce said fortunately, not many people are confronted with a situation similar to yours.

"Your chances of getting one are pretty slim, generally," Pierce said.

Do you have a question about personal finance, taxes or other money matters? Reach Akamai Money columnist Greg Wiles at 525-8088 or gwiles@honoluluadvertiser.com