How to Exchange Damaged Money at the Bank: A Complete Guide

Learn how to exchange damaged currency at your bank and what to do if the bill is heavily damaged.

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Yes, you can exchange damaged money at the bank. Banks handle the exchange of damaged currency, provided over 50% of the bill remains intact. If uncertain, consult your bank for specific guidelines or consider sending it to the Bureau of Engraving and Printing for analysis.

FAQs & Answers

  1. What qualifies as damaged money? Damaged money is considered to be currency that is torn, burned, or otherwise altered. Most banks will accept bills as long as over 50% of them is intact.
  2. Can I mail my damaged money to the Bureau of Engraving and Printing? Yes, you can send severely damaged currency to the Bureau of Engraving and Printing for analysis and potential replacement.
  3. What should I do if my bill is completely unrecognizable? If a bill is completely unrecognizable, it may not be possible to exchange it at banks, but the Bureau of Engraving and Printing may still assist.
  4. Are there fees for exchanging damaged money at the bank? Typically, there are no fees for exchanging damaged currency at banks, but it's best to check with your specific financial institution.

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