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During the exchange and storage process, it is difficult to avoid torn or damaged money, so which bills will be returned by the bank?
Regulations on exchanging torn money at banks
According to Circular 25/2013, customers can exchange torn money in the following cases:
1. Torn or damaged money in circulation, including:
- Paper money is faded, discolored, has patterns, numbers, is crumpled... Metal money is corroded, has part or all of the image, pattern damaged...
- Money has technical errors during the printing and minting process of the manufacturer.
Illustration
2. Torn or damaged money during storage, including:
- Torn or damaged money not caused by intentional acts.
- Money with holes, partial tears, burns or deformation due to exposure to high temperatures, the remaining area is over 60% of the same type of money.
- If re-pasted, it must have a minimum area of 90% compared to the same type of banknote. In addition, it is necessary to ensure the original layout of the front, back, top, bottom, left, right, etc.
- In case of shrinkage due to fire, the minimum area is 30% compared to the same type of banknote.
In addition to the above regulations, customers need to ensure that torn money must meet 2 of the following safety factors: fluorescent colorless ink, hidden in a small window with a fluorescent serial number, security thread, IRIODIN, and portrait of President Ho Chi Minh.
Where can I exchange torn money? Is there a fee?
According to Circular 25/2013/TT-NHNN of the State Bank, when customers exchange torn money at banks, if it meets the exchange standards, they will not have to pay any fees.
According to the regulations of the State Bank, customers can exchange torn money at all banks in the Vietnamese banking system including the State Bank, joint stock commercial banks, etc. Currently, there are more than 31 joint stock commercial banks and 4 state banks for customers to choose from when they want to exchange money.
People should note that they should not exchange torn money at black market outlets or unreliable organizations. This may cause customers to pay high fees and does not ensure safety.
According to VTC News