Will Bank Accept Damaged Notes
The Reserve Bank provides a Damaged Banknotes Facility for eligible holders of incomplete or badly damaged/contaminated Australian banknotes making a legitimate claim, with the aim of ensuring that the public has confidence in. However I discovered tonight that it is possible to send them back to the Bank of England and they will then send a cheque for the amount of the damaged note (s). I've not actually done it yet, I have a £5 going back to them tomorrow in the post. The link is here According to 2016 RBI circular if bank refuses to accept damaged note, it has to pay a penalty of 10,000. Also a banking Ombudsman Scheme is operation to solve issues regarding banking procedures.
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