Which agencies shall exchange torn money in Vietnam?
Hello Lawnet. I have a banknote that is torn. Where can I exchange it? Thank you!
Which agencies shall exchange torn money in Vietnam?
Pursuant to Clause 2 Article 6 of the Circular 25/2013/TT-NHNN stipulating as follows:
Article 6. Exchange of money not eligible for circulation
2. For money that is not eligible for circulation as stipulated in Clause 2 Article 4 of this Regulation, customers shall submit that money to the State Bank branches, Central Banking Department, collecting-exchanging units. These units shall receive and consider exchanging with the following conditions: ...
Pursuant to Clause 2.a Article 4 of the Circular 25/2013/TT-NHNN stipulating as follows:
Article 4. Standards for money not eligible for circulation
2. Money that is torn into pieces, damaged due to the preservation process (group of subjective reasons)
a) Paper money which is holed, partially torn; patched up; fired or deformed due to contact with high heat source; of which printing paper, color, security specifications are changed due to the chemical impact (for example detergent, acid, corrosive, etc); which contains the writing, is drawn, erased; which is decayed or deformed due to other reasons, but not due to acts of deterioration.
As regulations above, you may contact to State Bank branches, Central Banking Department, collecting-exchanging units for exchange of your torn money. However, you must satisfy all requirements prescribed in Clause 2 Article 6 of the Circular 25/2013/TT-NHNN to be eligible for the exchange.
What are the fines for dealing with money damaged, deformed that is suspected due to act of destruction in Vietnam?
Pursuant to Article 8 of the Circular 25/2013/TT-NHNN stipulating as follows:
Article 8. Dealing with money damaged, deformed that is suspected due to act of destruction
In case of detecting corrupted, deformed money which is not qualified for circulation, and the reason thereof is suspected of the act of deterioration, the collecting- exchanging unit shall draw up the minutes, temporarily seize the corrupted, deformed money and immediately deliver it to the Public Security Agency in the locality for inspection and appraisal. The conclusion made by the Public Security Agency shall be used as the basis so as the collecting- exchanging unit performs the money exchange for customers or deal with the corrupted, deformed money in accordance with provisions of applicable laws.
As regualtions above, in case of detecting corrupted, deformed money which is not qualified for circulation, and the reason thereof is suspected of the act of deterioration, the collecting- exchanging unit shall draw up the minutes, temporarily seize the corrupted, deformed money and immediately deliver it to the Public Security Agency in the locality for inspection and appraisal.
Best regards!
