Mutilated Currency Redemption | Engraving & Printing (2024)

FAQs

Where can I redeem mutilated currency? ›

Individuals, financial institutions, and businesses may contact the Department of the Treasury's Bureau of Engraving and Printing (BEP) if they are in possession of mutilated U.S. currency, meaning that the currency has been damaged to the extent that one-half or less of the original note remains, or its condition is ...

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.

(a) General. Lawfully held mutilated paper currency of the United States may be submitted for examination in accord with the provisions in this subpart. Such currency may be redeemed at face amount if sufficient remnants of any relevant security feature and clearly more than one-half of the original note remains.

Unfit currency for redemption is currency which is unfit for further circulation because of its physical condition such as dirty, defaced, limp, torn, or worn. Unfit currency should not be forwarded to Bureau of Engraving and Printing for redemption, but may be exchanged at commercial financial institutions.

Take your money to be replaced at your local bank if damages are not too extensive (minor tears, stains, soilage, etc.) Send any bills that have been extremely mutilated (burns, chemical stains, extreme tears, etc.) to the Bureau of Engraving and Printing along with a letter explaining the damage.

The Bank replaces damaged banknotes, including those torn or burnt, with new banknotes, according to the proportion of the part of the original banknote remaining, provided that both front and reverse sides of the banknote are maintained.

Often times, even financial institutions won't accept cash if it's too damaged. This is because the Federal Reserve does not accept deposits of mutilated money from banks and credit unions.

Many stores and merchants will not take torn or drawn-on bills, and even vending machines struggle to take heavily wrinkled ones. The good news is that even if a bill is torn in half, you can tape them together and exchange them at a Federal Reserve bank for fresh notes, as long as the serial numbers match.

Soiled Notes are the torn notes which are pieced together whereas Mutilated Notes have a missing piece or it is torn into multiple pieces. Soiled notes can be exchanged with new notes with the same value whereas Mutilated Notes will not get the exact value in return for new notes.

Mutilated Notes

Refund value of these notes is, however, paid as per RBI(Note Refund) Rules. These can also 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 RBI without filling any form.

Can I tape a ripped dollar bill? ›

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.

Most people are familiar with the illegal practice of printing counterfeit money, but that isn't the only way to devalue U.S. currency. Under Title 18 U.S. Code 331, it's a federal crime to fraudulently alter, mutilate, or falsify coins in the United States.

As long as more than half of the original note is clearly present—and it doesn't take special examination to determine the note's value—a commercial bank can then include the note in its deposit to the Federal Reserve.

paper money are convertible into lawful money, and all forms of. money are legal tender.2 Redemption presumably means the. ability to convert paper money into some form of paper money or. into coin.

Synopsis. Are you a holder of torn, soiled, damaged currency note? Do no worry, take the note(s) and go to any bank branch. They will exchange the notes and give you fresh currency notes.

Your local bank or credit union is likely to exchange currency for a small fee. It may be possible to deposit foreign money into your bank account.

Most bills will remain intact in the washer and dryer. But while a wash cycle may make your money look untainted, it nonetheless ruins the bills; hot water can damage security features, and detergents change the way cash reflects light, which currency-sorting machines detect. Banks shred washed money.