Money is an essential part of our lives. So when we unconsciously receive banknotes that are torn, it feels really bad, especially if it’s a big note. Don’t throw it away though, as it might still have some value to it!
According to the Bank Negara website, they need to ensure that the banknotes circulating in Malaysia are in good condition to help ease the identification of security features. These are the criteria that make it fit for recirculation/use:
- Genuine and not counterfeit
- Free from holes, tears, tape or missing portion
- Has uniform brightness and free from excessive soiling
- Free from ink-wear, particularly on the portrait of SPB Yang di-Pertuan Agong
- Free from defacement
However, if your banknotes are burnt, crumpled, punctured, shrunk, repaired with tape or the ink has worn out, then you should definitely exchange it.
If your notes are torn, then this is the guide for you to ascertain how much you will be able to get if you exchange it with Bank Negara.
You can exchange your notes if it has been defaced too, here’s how you can ascertain the value.
If any of your banknotes are in the above criteria, then you should definitely go to the Bank Negara Malaysia’s office or any banks to exchange them.
Time to bust the torn notes out!
Also read: Did You Know That You Can Cash Coins Straight Into Your Bank Account? Here’s How!
