Did you know that you can replace your torn, burnt or worn-out bank Notes in Kenya with new ones. Yes Central bank Of Kenya allows individuals who are in possession of damaged bank notes or coins to seek for replacement and get usable ones.
Having cash money in form of notes or coins that you can’t use because the bank notes are worn out or torn can be really frustrating especially when you want to use the money to make cash purchases. In most cases traders reject the notes and as they also fin it difficult to trade with the same notes. The good news is that you can have your old or damaged bank notes replaced and get new ones. However there are conditions that the damaged note or coin must meet before you can exchange it with the central bank. These includes;
- Must not have been deliberately mutilated
- Currency must be genuine
- More than half and continuous
- Bear at least one complete serial number
For coins, the inner part and the outer boarders should be available.
Before exchanging any coin or notes, the Central Bank carefully examines them to verify the authenticity and the extend of the damage before they can be replaced and exchanged. The Bank may seek to know from the presenter of the damaged currency as to how the notes and coins were damaged.
Some of the common damages that occurs on bank notes and currencies include;
- Liquid Spillage
- Wear and tear