Can I exchange damaged Euro notes in India?
I have two 500-euro notes. Today I went to a forex shop in India to exchange them. They showed me that the notes have 1 small hole each and so they can't exchange them. In this case, where can I go and exchange these euro notes? Can the RBI do it? Or if I go to any of the normal banks, will they accept them? I am an Indian national.
Best Answer
You might have some difficulty exchanging less then perfect €200 & €500 notes.
I suggest you hang on to them and exchange them for smaller denominations at the first bank you see on your next visit to Europe. You might have to supply id and additional details of where you got them.
Pictures about "Can I exchange damaged Euro notes in India?"
Where can I exchange damaged euro notes?
For example, a national central bank will replace a damaged euro banknote if you present more than half of the note or can prove that the missing (larger) part of the banknote has been destroyed. Intentionally mutilated or damaged euro banknotes are not redeemed. In principle, the redemption is free of charge.What do you do if a euro note is torn?
Replacing euro and DM banknotesThe Bundesbank replaces damaged genuine euro and DM banknotes if more than half of the note is still intact or it can be proven that the rest of the note has been destroyed.Can I use a torn euro note?
You can apply to the Central Bank of Ireland to exchange old or damaged money. Through this service, you can exchange: IR\xa3 pounds: Old or damaged Irish banknotes and coins. \u20ac euro: Damaged euro banknotes and coins.Will banks accept damaged notes?
It is then assessed by the Bank and claims are paid directly into the applicant's bank account, if successful. The Bank will give "reasonable consideration" to claims where banknotes have been damaged accidentally. As a general rule there should be evidence of at least half a banknote before it can be reclaimed.Sources: Stack Exchange - This article follows the attribution requirements of Stack Exchange and is licensed under CC BY-SA 3.0.