The United States dollar (USD) is one of the most widely used currencies in the world.
The symbol USD, whose English name is United States Dollar, also known as "US Dollar" or "Dollar", is the official currency of the United States. It is also used as a reserve currency outside this country.
The US dollar comes in two forms: coins and paper money.
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Can torn USD be exchanged?
According to Circular 25/2013/TT-NHNN, Vietnamese banks are responsible for collecting and immediately exchanging for customers who need money that does not meet circulation standards due to being torn, damaged during circulation or technical errors during printing and casting.
Standards for exchanging torn money at Vietnamese banks are as follows:
For paper money:
- The bill must be intact and not completely torn.
- The bill must have at least 70% of its original area.
- The banknote must still fully recognize the security elements of the currency.
For metal coins:
- The coin is not warped or deformed excessively.
- The coin does not lose all images, patterns, or numbers.
In case the torn banknote does not meet the above standards, the bank will consider the specific condition of the banknote and decide whether to exchange it or not. The exchange rate will depend on the level of damage to the banknote.
The processing time for torn banknotes at Vietnamese banks is usually within 1 day. However, in some special cases, the processing time may be longer, depending on the condition of the banknote and the amount of money to be processed.
Specifically, for torn bills that meet all exchange standards, bank staff will check the condition of the bill and exchange it immediately for the customer.
For damaged banknotes that do not meet the full exchange standards, the bank will consider the specific condition of the banknote and decide whether to exchange it or not. In the event that the bank decides to exchange the banknote, the processing time may be longer, depending on the extent of damage to the banknote.
Minh Huong (synthesis)
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