Check "Damaged Banknotes" Before It's Too Late: Which Ones Can Still Be Exchanged for Full Value! Plus Easy Steps to Request an Exchange
Who says money can buy everything? Not true! It's not that you don't have enough money; rather, if you have a lot of money but it's incomplete or damaged, you can't use it for purchases according to the law either. This is especially true for circulating banknotes that have been in use for many years, some of which may be old and worn out, moldy, faded, or even damaged by termites, insects, or fire.
Take a look at your banknotes. If they fall into any of these categories, don't let them go to waste. Quickly take them out and exchange them, because if you keep them for too long without depositing them into a bank account, their lifespan will only shorten. If they become moldy, they can become a breeding ground for germs, which can negatively affect your health.
So let's check what qualifies as a “damaged banknote” that can still be exchanged for full value and which ones cannot be exchanged or are worth nothing, along with the steps to contact for exchanging damaged banknotes without any fees.
Banknotes that can be exchanged for full value (immediate exchange)
– A banknote torn in half from the same note (the serial numbers on both pieces must match).
Banknotes that can be exchanged for full value (but require a request and verification)
– A banknote torn or missing no more than half of the note
– A banknote torn in half from the same note (the serial numbers on both pieces must match)
– A banknote torn in half from different notes (the serial numbers on both pieces do not match, but they must be of the same denomination and type)
– A faded banknote that can be verified as genuine
– A banknote that has been burned, eaten by insects, or stuck together in a clump
Banknotes that can be exchanged for “half” value (must request and wait for verification)
– A banknote torn in half down the middle.
Banknotes that cannot be exchanged
– A banknote that is torn to less than half.
Steps to Request an Exchange
- Contact a bank that exchanges damaged banknotes
– Government Savings Bank branches nationwide
Service hours: During business hours every day
– Siam Commercial Bank branches nationwide, except for small branches and those in shopping malls
Service hours: Only on Wednesdays. - Bring your ID card, bank account book (any bank), and the damaged banknotes to the bank officer
– In cases of immediate exchange (no need for a bank account book)
The bank officer will verify the banknotes. If the damaged banknote has more than 3 out of 5 parts remaining, you can receive a new banknote of full value immediately without going through a bank account.
– In cases requiring verification (both ID card and bank account book are needed)
The officer will ask you to fill out a request form for exchanging banknotes, along with attaching your bank account book and your damaged banknotes to be sent to the Bank of Thailand for verification and consideration of the exchange value.
Wait for the notification of the value and receive the exchange amount deposited into your savings account from the Bank of Thailand
which the consideration period of the Bank of Thailand will vary case by case. However, for severely damaged banknotes that have been burned, eaten by animals or insects, or stuck together in large quantities, which are likely to be damaged during delivery, you will need to show the banknotes to the bank officer to request a certificate first and then bring the banknotes to exchange in person at the banknote issuance department of the Bank of Thailand.
