Torn or ripped banknotes Generally, payment for an incomplete banknote is proportional to the part of the banknote remaining. In this way, the combined value paid for all the pieces, were they to be presented, would be the face value of the original banknote.
Currency Procedures
Under regulations issued by the Department of the Treasury, mutilated United States currency may be exchanged at face value if: More than 50% of a note identifiable as United States currency is present.
You can take your scarred bank note into any bank branch, credit union or building society, according to the RBA. At these places, you can file a damaged-banknote claim. You'll need to bring your damaged notes in an envelope or sealable bag with details about the contamination on the outside.
As a general rule, we will only reimburse you with the face value of a damaged banknote if you still have at least half of the banknote. To apply for a reimbursement, fill out our damaged banknote application form and send it to us with all of the remains of the banknote.
The cut in such notes, should, however, not have passed through the number panels. All these notes can be exchanged at the counters of any public sector bank branch, any currency chest branch of a private sector bank or any Issue Office of the Reserve Bank of India. There is no need to fill any form for doing this.
Torn or ripped banknotes
Generally, payment for an incomplete banknote is proportional to the part of the banknote remaining. In this way, the combined value paid for all the pieces, were they to be presented, would be the face value of the original banknote.
This week I'm explaining what's legal when it comes to notes. What should I do if I have a damaged note? If the damage to the note consists of wear, tears, sticky tape or staples, marks or defacement and the note is complete, it can continue to be used. The damage has no impact on the value of the note.
You can use your cash as is if a corner is missing. If it's ripped into two pieces, tape them back together and take the bill to a bank, where they will make sure the serial numbers on both sides of the note match and give you a new one.
Damaged banknotes
We will reimburse you the full amount for genuine notes that have been accidentally damaged (provided there are sufficient fragments or remains). As a general rule, there should be evidence of at least half the note. See damaged and contaminated banknotes.
The Bank will then authenticate the banknote before forwarding all counterfeits to the National Crime Agency for analysis. Counterfeit banknotes are worthless therefore no reimbursement will be given unless the banknote submitted is subsequently found to be genuine.
The definition of unfit currency, from the Federal Reserve System's Cash Product Office, is a “note that is not suitable for further circulation because of its physical condition” due to being: torn. worn. limp.
However, banks often oversupplied notes, and this overextension caused bankruptcy among private and state banks when financial panic struck, particularly in 1837. Currencies from these failed banks are known as “obsolete bank notes” or “broken bank notes,” and several are held in the National Numismatics Collection.
The Bangko Sentral ng Pilipinas can take in mutilated notes and bills to replace them with new ones of similar worth. To make a claim, holders of damaged currencies must present the currencies and file an application.
Mutilated bank notes show signs of excessive damage from fire or water, missing pieces, or other forms of deterioration. These bank notes are likely too damaged or brittle to be used for payment, so you can send them to us for redemption.
As long as it is more than 50% intact, it will be valid. Less than 50%, and you're out of luck (since otherwise somebody could double the value of a bill simply by tearing it in half).
You may be able to deposit withdrawn notes at your own bank or with the Post Office. Alternatively, you can exchange withdrawn banknotes with selected Post Office branches or with the Bank of England.
The series G (polymer) note is the only £5 note that is currently legal tender. The old paper series E was withdrawn, following a co-circulation period with both notes being legal tender which ended on 5 May 2017.
Old paper £20 and £50 notes are no longer legal tender. We explain what to do with your old banknotes and where to exchange them. Old £20 and £50 paper notes stopped being legal tender in the UK on 30 September 2022. This means you can't use them in shops or as payment any more.
Yes, but you should tape the two halves together if it's completely torn. As long as the serial numbers on each side match it's still legal tender.
Credit institutions and post offices shall accept such incomplete or damaged banknotes the surface of which is smaller than 50% of the original surface with no payment made and forward them to the MNB for the purpose of withdrawal and destruction.
Mutilated banknote is a banknote, of which a portion is missing or which is composed of more than two pieces. Extremely brittle, burnt, charred, stuck up Notes Notes which have turned extremely brittle or are badly burnt, charred or inseparably stuck up together and, therefore, cannot withstand normal handling.
Old or damaged banknotes
All decimal banknotes issued since 1967 remain legal tender except one-dollar and two-dollar notes, which were withdrawn in 1991. In general, the Reserve Bank will replace damaged notes as long as they are recognisable.
You can apply to the Central Bank of Ireland to exchange old or damaged money. Through this service, you can exchange: IR£ pounds: Old or damaged Irish banknotes and coins. € euro: Damaged euro banknotes and coins.
Local coin dealers buy mixed uncleaned coins and sort them out by denomination, country and the quality of the coins. Good quality coins are cleaned and sold, badly damaged coins are melted down as scrap metal to recycle.
"Some shops take a torn Dh20 banknote for Dh19," said the banker. Banks generally accepts such notes from individuals or companies provided the person or the company has an account with the bank. "Banks usually accept spoiled or torn banknotes from their own customers," said the branch manger of Sharjah Islamic Bank.