Damaged banknotes can raise doubts about their validity
Apart from the 500 euro bills and their specific uses, cash is still one of the main means of payment, despite the proliferation of virtual payment applications or the increasing use of bank cards. However, sometimes damaged bills can get into our hands, raising doubts about their validity. Caixabank, which has already warned all its customers about the holidays, has issued a statement on the matter.
The financial institution warns that any stained, torn or defaced banknote can be delivered to any Banco de España branch to be exchanged for another of equal value but in perfect condition. On the other hand, the change is not carried out successfully in all cases.
In addition to a number of basic requirements, the Bank of Spain states that the user must provide at least more than half of the original surface of the banknote or provide valid evidence of the destruction of the remaining part in order for the exchange to take place. Then the ticket is subjected to a study to check both its authenticity and whether it has the characteristics that imply the exchange for a new ticket.
However, if the Bank of Spain believes that the damage was intentionally caused by its owner, it will withdraw the damaged note and not make the change. Caixabank reminds that writing on a banknote, affixing stamps or inscriptions is considered voluntary deterioration.
Anti-theft systems ink
There are banknote transport and custody systems with devices loaded with security ink that are activated in the event of theft or mishandling. If this ink is released, it will cause notable deterioration and difficulties when the Bank of Spain agrees to carry out the exchange.
Only if the user presenting the ticket has been the victim of such theft can the change be made. For commercial customers, such as banks or money transport companies, a commission of 10 cents per ticket applies for the exchange, provided that the number of refunded tickets is equal to or greater than 100 copies.
Finally, if the origin of the stains is accidental and not related to the activation of anti-theft systems, they will be exchanged by the Bank of Spain.