RAYONG, 2nd August 2018 (NNT) – The Bank of Thailand (BoT) has clarified that damaged currency should not be disposed of but rather exchanged for new notes.
The BoT issued the clarification after a lottery seller in Rayong province disposed of 117,000 baht’s worth of 1,000 baht bills she believed had lost value due to being severely damaged by termites. The bank has stated that sullied, torn or otherwise damaged currency is still valid for exchange into replacement currency at no cost.
Citizens with such cash can exchange the money daily at any Government Savings Bank or on Wednesday’s at any commercial bank excluding those in department stores. The bills must be three fifths intact to be valid while those that are half destroyed, pieced back together or are otherwise less than three fifths intact require that a request be filed with the BoT. If approved for exchange, the BoT will transfer the funds to the individual or provide them with a money order.
Bundles of money that was burnt or chewed on by animals, must be presented to bank officials for validation before new notes can be requested. The process is free of charge.
Source : NNT