The recent flash floods have left many communities in dismay. Many lost their homes, household items were destroyed and some may even find their savings compromised due to flood waters.
However, one can trade in damaged banknotes for new ones with Bank Negara Malaysia (BNM).
BNM explained in their Instagram post on how the exchange of damaged money can be done seamlessly at any bank. Thus, there is no need to fret about not having an account at the particular bank for an exchange of notes because it can still be done.
How do you know if you can exchange your ringgits notes? Notes that are punctured, taped, colour faded or burned are eligible. One can also refer to the guidelines on the things they should keep in mind when requesting for an exchange.
- The exchange value and timing of compensation will depend on the condition of the damaged notes
- For straightforward cases of damaged notes, you will be compensated on the same day
- For unclear cases of damaged notes, the bank will refer to BNM and you will be compensated later
For more information, refer to the picture below or BNM’s guidelines.
Gisele Soo
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