BOK will replace damaged currency if at least three-quarters of bill is intact
- 5 years ago
Damaged banknotes, including burned ones, can be replaced if at least three-quarters of the bill is intact.
According to the Bank of Korea, one-point-92 billion U.S. dollars worth of damaged bills and coins were discarded by the bank in the first half of this year, …up one-point-five percent from the previous six months.
Of them, 39-point-five percent were damaged due to improper storage, 39-point-one percent due to careless handling …and 21-point-four percent due to burns.
The central bank replaces damaged currency to the full amount if at least three-quarters of the bill is intact …and to half the amount if at least two-fifths of the bill is intact.
If the currency is burnt, the parts covered in ashes also count as intact …so rather than brushing the ashes off, it's best to bring the bills to the bank as they are.
According to the Bank of Korea, one-point-92 billion U.S. dollars worth of damaged bills and coins were discarded by the bank in the first half of this year, …up one-point-five percent from the previous six months.
Of them, 39-point-five percent were damaged due to improper storage, 39-point-one percent due to careless handling …and 21-point-four percent due to burns.
The central bank replaces damaged currency to the full amount if at least three-quarters of the bill is intact …and to half the amount if at least two-fifths of the bill is intact.
If the currency is burnt, the parts covered in ashes also count as intact …so rather than brushing the ashes off, it's best to bring the bills to the bank as they are.