What do I do with a damaged bank note?
Individuals, financial institutions, and businesses may contact the Department of the Treasury's
The Bank exchanges damaged banknotes, including those torn or burnt, according to the proportion of the part of the original banknote remaining, provided that both front and reverse sides of the banknote are maintained.
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.
In Short. A common concern for many is whether banks accept torn or damaged notes. However, individuals need not worry as they can exchange their soiled, mutilated, or defective notes at any bank across the country.
Yes, you can take your torn $100 bill to your local bank, and they should be able to help you exchange it for a new bill. The US Bureau of Engraving and Printing states that if more than half of the bill is intact and recognizable, it can be redeemed.
The BEP's Mutilated Currency Division provides free mutilated currency redemption services for individuals and institutions, such as businesses and financial institutions, in possession of United States mutilated currency notes.
The Reserve Bank recommends that owners of damaged banknotes submit their damaged banknotes to their bank/financial institution. These institutions are encouraged by the Reserve Bank to accept all claims.
Notes which have become excessively soiled, brittle or are burnt and, therefore, cannot withstand normal handling can be exchanged only at Issue Office of the RBI. Persons holding such notes may approach the Officer-in-charge of the Claims Section, Issue Department of the Reserve Bank for this purpose.
You can only deposit damaged notes into your own bank account. Other banks and the post offices refuse to take damaged notes. There is a way to exchange damaged notes by posting it to the bank of england or the bank of scotland as well, but this does come with the risk of losing your money.
If one comes across a note that is believed to be unfit to remain in circulation, it is possible to have your damaged currency exchanged at your nearest bank. Unfit notes are removed from circulation and taken to the Federal Reserve Bank in St. Louis where they will be shredded, recycled, or made into compost.
Where to change old bank notes?
Pay them in at your high street bank or Post Office.
You can also exchange old paper banknotes for the same value in current polymer notes at 30 selected Post Office branches – you can view the full branch list on the Bank of England website. This includes the old paper £5, £10, £20 and £50 notes from the last series.
(Note Refund Rules 2009 is available at RBI website www.rbi.org.in Publications>Occasional > RBI Note RefundRules) Notes presented in small number: Where the number of notes presented by a person is up to 20 pieces with a maximum value of ₹5,000 per day, banks shall exchange them over the counter, free of charge.

A note which gets dirty over time and is torn is called a soiled note and when the note is split into more than two pieces or is torn is called a mutilated note. Soiled and mutilated notes can be exchanged with new notes by the bank.
Damaged banknotes
We will reimburse you the full amount for genuine notes that have been accidentally damaged (provided there are sufficient fragments or remains). As a general rule, there should be evidence of at least half the note.
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.
Subject to the Reserve Bank's Claim Requirements, the Reserve Bank pays value for incomplete banknotes determined as follows: If less than 20 per cent of the banknote is missing: Full face value is paid.
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 ...
The first is that more than 50% of the note is identifiable as United States currency. The second is if there is less than 50% of the note intact, but your evidence demonstrates, to the satisfaction of the Treasury, that the missing portions have been completely destroyed.
The currency “may be exchanged at commercial banks.” You could tape the green stuff back together but be warned that merchants may not accept the bandaged bills. If you have, what the government refers to as, “mutilated money” then you can send the cash off to the Treasury for exchange.
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. However the value of the exchange depends upon the condition of the torn, damaged, etc currency notes.
Can I tape a ripped bill?
It is common for people to just put some Scotch tape on a bill when it gets ripped but that might not be the best way to deal with a “unfit” dollar bill. While some establishments may accept that “fixed” banknote, don't expect that to happen, and most likely a vending machine will reject it out right.
Though we'll soon get a glimpse of what our new banknotes will look like, they aren't expected to enter circulation until mid-2024. All four denominations — £5, £10, £20 and £50 — are set to be updated with the new designs.
3) Half the face value of a mutilated bank note of a denomination of one thousand rupees or less on which the number is printed at two places may be paid, if, the piece, or one of the pieces presented, has an undivided area which is not less than half the area of the note and a major portion of the number can also be ...
- Find a participating branch. Bring your banknotes and photo ID to a participating branch. ...
- We'll record the exchange. We'll capture a few details and will need to check your photo ID to record the exchange. ...
- We'll give you new notes for old.
Warm up an iron on low heat and place it on top of the paper for 5 seconds. Make sure it is covering the oil spot. Remove the iron after 5 seconds and check the oil stain, it will be lighter or possibly completely gone. Repeat the process as needed to continue to lift the stain.