Discard Currency Warranty For Free

Currency mutilation can occur from fire, misuse, or even deterioration from burying money. The Federal Reserve does not accept deposits of mutilated currency from banks. In this case, special examination is required by pros at the Bureau of Engraving and Printing (BEP) before any exchange is made.

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Assess the damage. If it is damaged but not mutilated and you do not want to use that currency for any reason, you can exchange that money at your local bank. Money that has been mutilated or extensively damaged beyond repair or use should be submitted to the US Bureau of Engraving and Printing or the US Mint.

How to Redeem Mutilated Currency Mail or personally deliver your mutilated note to the BEP.For reimbursement, provide a bank account and a routing number for a U.S. bank, or payee and mailing address information (to be paid by check). Each case is carefully examined by a mutilated currency examiner.

Exchanging Currency at Home and Overseas Local banks and credit unions usually offer the best rates. Major banks, such as Chase or Bank of America, often offer the added benefit of having ATMs overseas. Online bureaus or currency converters, such as Travelex, provide convenient foreign exchange services.

15 banks that exchange foreign currency America First Credit Union: Credit union members may visit select branches to exchange up to $5,000.Bank of America: Bank of America customers may exchange up to $10,000 online or over the phone.Citibank: You can call or visit a branch to exchange over 50 types of currency.

Soiled, mutilated or imperfect currency notes are not useless. Such notes can be exchanged by any bank branch or Reserve Bank of India (RBI) issue office on the condition that they are not fake. Importantly, notes on which religious or political slogans are written cease to be legal tender and are not exchangeable.