Rules for the Exchange of Damaged or Worn Litas Banknotes, Coins and Cent Coins

APPROVED by Resolution No 03-316 of the Board of the Bank of Lithuania of 9 December 2014 RULES FOR THE EXCHANGE OF DAMAGED OR WORN LITAS BANKNOTES, COINS AND CENT COINS The Rules lay down the conditions under which damaged litas banknotes, coins and cent coins (hereinafter – currency) must be accepted for payment or settlement until 15 January 2015, exchanged into euro or recognised as non-exchangeable, as well as the procedure for the exchange of damaged or worn currency at the Bank of Lithuania and banks and/or foreign bank branches operating in the Republic of Lithuania that are authorised by the Bank of Lithuania (hereinafter – banks). Currency that is worn or damaged in the following ways shall be accepted for payment or settlement until 15 January 2015 and exchanged into euro: stained (except for banknotes stained with special ink used for protection against theft), written-on, painted, tattered, torn or otherwise damaged banknotes; banknotes with at least three quarters of the remaining seamless area and one serial and number marking; coins that are deformed (unless deformed in a way specified in paragraph 6 below) or damaged but featuring the recognisable coat of arms of the Republic of Lithuania and the denomination numeral. Currency damaged in the following ways shall not be accepted for payment or settlement but shall be exchanged into euro at the Bank of Lithuania or banks: banknotes with less than three quarters but more than half of the remaining seamless area and one serial and number marking; banknotes with half of the remaining seamless area containing a watermark and one serial and number marking; banknotes with less than half of the remaining seamless area containing both serial and number markings, the denomination numeral and the watermark; coins affected by environmental conditions (e.g. chemicals, water, rust). Currency that is worn or has features indicated in subparagraphs 2.1-2.3 and 3.1-3.4 of the Rules shall be exchanged into euro free of charge and in unlimited amounts at: the Bank of Lithuania; banks and credit unions referred to in Resolution No 03-143 of the Board of the Bank of Lithuania of 21 August 2014 on the approval of the lists of subdivisions of credit unions, banks and foreign bank branches. If damaged otherwise than indicated in subparagraphs 2.1-2.3 and 3.1-3.4 of the Rules and there are doubts with respect to its genuineness, currency shall be accepted for examination at the Bank of Lithuania, while banks must accept such currency and submit for examination in accordance with the procedure established by the Bank of Lithuania. A person wishing to exchange damaged currency must present an identity document and explain the circumstances of damaging the currency in writing. Currency suspected to be counterfeit or stained with special ink used for protection against theft, deliberately damaged (e.g. coins that are ground, drilled, cut, deformed with coin destruction machines and banknotes split in order to get two sides of one banknote or composed banknotes) shall not be exchanged or accepted for payment or settlement. The Bank of Lithuania shall not reimburse the value of currency that is non‑exchangeable, counterfeit, deliberately damaged or stained with special ink used for protection against theft and shall not return it to the applicant. When exchanging currency into euro, the Bank of Lithuania and banks are obliged to issue only unworn and undamaged euro to their clients, while worn and damaged currency received by banks shall be submitted to the Bank of Lithuania.