Question: Can The Post Office Change Damaged Notes?

Where can I change damaged notes?

You can walk into any bank branch, even if you are not a customer of that bank, to get your damaged notes exchanged.

You can also approach RBI directly through one of its regional offices to seek a refund.

Can you exchange damaged notes?

As per the Reserve Bank of India (RBI), every bank has to accept mutilated, soiled or imperfect currency notes. So you can easily walk into your nearest bank and get your unusable notes exchanged. So whether you ara a customer of a bank or not, you can exchange your damaged notes at any brank across the country.

Will the bank swap a ripped note?

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. As long as three-quarters of a bill are intact, you can exchange it for a whole bill.

How do I replace damaged money?

Banks can exchange some mangled money for customers. Typically, badly soiled, dirty, defaced, disintegrated and torn bills can be exchanged through your local bank if more than half of the original note remains. These notes would be exchanged through your bank and processed by the Federal Reserve Bank.

How do I exchange Demonetised notes now?

Demonetised notes could be exchanged at bank counters and post offices till November 25, 2016, and at RBI offices till December 30. A special grace period was also given for resident Indians till March 31, 2017, and for non-resident Indians (Indian passport holders) till June 30, 2017.

How long does damaged currency take to replace?

Claims can take anywhere from six months to 36 months to process. The evaluation process depends heavily on the condition of the money, the extent of damage, and the conditions under which it was damaged. The Director of the Bureau of Engraving and Printing makes the final decision on all damaged currency claims.

Can old notes be exchanged today?

The notification (and future modifications) allowed a person to exchange up to Rs 4,500 over the counter once till November 24, 2016. Such tourists can only exchange old currency notes of up to Rs 5,000 per week till January 31, 2017.

Are old notes still being exchanged?

The government has now shut all doors for those looking to exchange old currency – all but one, that is. There is a loophole by which old notes are stealthily inserted into the RBI vault – a loophole accessible only to those in power.

CAN 1000 RS be exchanged?

The government had on Thursday announced that the demonetised 500 and 1,000 rupee notes can no longer be exchanged at bank counters and any holdings will necessarily have to be deposited in bank accounts. The limit to exchange old notes was recently set at Rs 2,000 per person.

Can you tape money and use it?

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.

Can you exchange old notes 2020?

Exchanging old notes

You need not visit the branch of the bank where you have an account in. If you want to exchange up to Rs 4,000 in cash, you can simply go to any bank with a valid ID proof. This limit of Rs 4,000 for exchanging old notes will be reviewed after 15 days.

How do I change old bank notes?

For exchanges, you’ll need to put any of your old currency into a cash bag or plastic wallet issued usually by the bank. If you’d prefer to take your old coins or notes to your local Post Office, then you can directly deposit them into your bank account at any of their 11,500 branches too.

Can I change 20 notes at the bank?

But even after the old £20 notes have been withdrawn from circulation, many banks will still accept them as deposits from customers. The Post Office may also accept withdrawn notes as a deposit into any bank account. And you can always exchange withdrawn notes directly with the Bank of England.

How can I change old 1000 rs note?

If your relative or friend has an account, you can also get the old notes exchanged into that account, provided the third-party gives you the permission in writing. While exchanging notes, you should provide the bank with the evidence of permission given by the account holder, along with your valid ID proof.

Can I exchange old 1000 notes now 2020?

As the deadline for exchange of specified bank notes (₹500 & ₹1000 before 08/11/2016) was 30/12/2016 exchange of old notes no longer permissible. One can retain maximum 25 pieces of denotified notes with him for academic purposes. If kept beyond the limit it is a punishable offence.

Can I change my old 1000 notes now?

Exchange old notes for new at a premium. MUMBAI: Scrapped old notes ­ Rs 500 and Rs 1,000 ­ which were to be exchanged latest by December 20, 2016, are still there. They can be exchanged even now, but for a hefty premium.