Regulatory Alerts2014-12-09
Added · Updated
Rules for the Exchange of Damaged or Worn Litas Banknotes, Coins and Cent Coins
The Bank of Lithuania establishes conditions for accepting damaged litas banknotes and coins for payment or settlement until 15 January 2015, and defines the procedure for exchanging them into euro. Banknotes with at least three-quarters of the remaining seamless area and coins with recognizable features are accepted for payment, while those with less than three-quarters but more than half, or specific environmental damage, must be exchanged at the Bank of Lithuania or authorized banks. Deliberately damaged currency, counterfeits, and notes stained with special anti-theft ink are prohibited from exchange or payment and will not be reimbursed. Exchanges are free of charge and unlimited at the Bank of Lithuania and authorized institutions, requiring identity verification for damaged items, while banks must provide undamaged euro in return and submit worn currency to the central bank.
More like this from LB
We email you every new LB publication the day it's published.