How to Exchange Damaged Banknotes in Albania?

How to Exchange Damaged Banknotes in Albania?

TIRANA, December 26

It has happened to each of us at least once to get stuck with damaged, soiled, or torn banknotes that no one accepts. Instead of hoping that you can pass it to someone else without being noticed, you can do this.

The Bank of Albania (BoA) defines the procedure for exchanging damaged notes/coins and other details.
You can submit your damaged banknotes or present a claim for value exchange at any local commercial bank.

The banknotes or coins can be exchanged directly at the bank counter in the following cases:
Genuine banknotes have light damages such as stains, holes, minor tears

Banknotes and coins can’t be exchanged at the bank counter if:
They miss parts of security features that make it difficult to prove their authenticity. The banknotes or coins, along with a written claim by the customer, are sent to BoA fur further examination.

When the banknotes are stained, soiled, soaked, burned or damaged over 50 percent of their surface, in addition to the written claim, the applicant must submit a declaration that explains the source of the damage and attach any other additional document issued by the competent authorities or local government bodies, citing the cause and circumstances of damage.
Commercial banks must send the damaged banknotes along with the claim request and the additional documents to BoA, no later than ten days from the date of submission of the claim by the applicant.
If BoA determines that the banknotes/coins fulfill the exchange criteria, it will transfer the nominal value to the account of the commercial bank, which transfers it to the applicant.

BoA may refuse to exchange the damaged banknotes and coins when it is aware or has sufficient reasons to believe that:
The banknotes and coins submitted for exchange have been intentionally damaged. In this case, the banknotes/coins will be confiscated without compensation.
The banknotes and coins submitted for exchange have been obtained through a criminal offense.
BoA shall qualify these as valid for exchange only if after the competent authorities verify that the source of the banknotes presented is lawful.

Source: BoA


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