This is an annoying situation: after receiving the change when making a purchase or even withdrawing money from the ATM, we find ourselves with a torn bill. Cracked in a corner, on the side or even in the middle, what can be done with it? Do we risk it and try to pay something, despite the fact that they can reject it?
The Bank of Spain has the answer and has provided a solution, according to what it explains on its blog: any citizen who has a broken or damaged banknote can go to the offices of the organization (or any of its branches) so that their workers can check its authenticity and, in that case, give him a new bill or transfer the equivalent amount to a bank account indicated by the user.
To be able to present a banknote, you must have at least half of it or, otherwise, be able to demonstrate that everything that is missing has been destroyed. This works for torn bills as well as stained bills or even burnt or wet bills.
According to the Bank of Spain, in these cases the banknote will go to the Banknote Analysis Unit, which has qualified personnel to carry out all the pertinent checks. If, after analysis, this department considers that the ticket is “legitimate”, it will be exchanged for the citizen for a new one in perfect condition.
Sometimes, the Bank of Spain can charge a commission for the exchange of these bills. This will only be done when the reason for the deterioration is the activation of anti-theft tools in professional sectors such as credit institutions, cash-in-transit companies and foreign currency exchange establishments. The commission will be applied when the number of tickets exceeds 100 and will be 10 cents per ticket.
However, in other cases there will be no commission. This happens with the damage produced as a result of a robbery or attempted robbery, for which it will be enough to present a photocopy of the complaint. In addition, in case of manufacturing defects, the refund of the money or exchange of the ticket will be instantly.
How to change a broken bill at the Bank of Spain
The first step is essential for health reasons: you must make an appointment to go to the headquarters or one of its branches. To do this, you must fill in the application form, . You must choose the city in which you wish to be attended and select ‘Other cash operations’ as the reason for the visit, clicking on ‘Book’.
The system will display a calendar with the available dates. You must choose one of them and then select one of the available hours. After that, you must indicate the number of people who will attend the appointment and the personal data of each of them.
With the prior appointment in your possession, you must prepare the necessary documentation for the time of the visit. To carry out the process without problems, you must download and fill in the Defective and damaged biller form, available in the same section for prior appointment and in which you must provide personal and contact information, the amount of the torn or damaged bills and the reasons for the deterioration.
How to change a torn bill at your bank
The Bank of Spain explains that the citizen has another option to exchange their broken or damaged banknotes, although it is less secure, since these entities are not guaranteed to exchange their customers’ banknotes.
According to the organization, “financial entities are not obliged to provide the exchange service for damaged banknotes, since there are no express legal regulations that require it”, although “nothing would prevent a financial institution from deciding to lend you this service”.
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