Redeeming Damaged Banknotes

Before submitting a damaged banknotes claim you should familiarise yourself with the Claim Requirements.

Redeeming process

To make a claim for reimbursement follow these three steps: 1. Collect – Retrieve as much of the banknote material as possible without causing any further damage to the banknotes. This will assist the Reserve Bank in making an accurate assessment of the claim’s value. 2. Package – Place the banknotes in an envelope or a sealable bag. Claims for contaminated banknotes must be sealed in a bag with details of the contamination noted on the outside of the bag. 3. Submit – Take the banknotes to your local ADI, which can assist you in making a claim. A claim form must be completed for all claims. Details of any contamination must also be included on the form.

A claim form must be completed for all claims.

Claims for contaminated banknotes must be sealed in a bag and the bag clearly marked with details of the contamination.

The Reserve Bank recommends that owners of damaged banknotes submit their damaged banknotes to their bank/financial institution. These institutions are encouraged by the Reserve Bank to accept all claims. The value of an incomplete banknote may be estimated using grids provided by the Reserve Bank, however, its assessed value will be determined by the Reserve Bank and may be different from an estimate made using the grids. Badly damaged and contaminated banknotes need to be forwarded to the Reserve Bank's National Banknote Site (NBS) for assessment. Banks/financial institutions will ensure that the claim is securely delivered to the NBS on behalf of the claimant.

However, if that is not practical or no other option is available, individuals and organisations may choose to send their claim by mail to:

Operations Manager
National Banknote Site
PO Box 249
CRAIGIEBURN VIC 3064

Banks and other financial institutions should not send claims via the post and should use existing arrangements with their Cash-in-Transit (CIT) companies to forward claims to the Reserve Bank. Claims sent by mail are posted at the cost and risk of the sender.

The Reserve Bank accepts no responsibility for any claims sent by mail or for any claims until they are delivered to the NBS.

Identification requirements

The Reserve Bank verifies the identity of customers involved in claims of $1,000 or more presented to it. As a result, such claims must be accompanied by an Identification Reference Form (unless the claimant has previously completed one in connection with another claim and the details on that previous form have not changed) and the required identification documents.

Forms

Claim Form

Please read the instructions and information on the form prior to completing.

Incomplete/Badly Damaged/Contaminated Banknote Claim Form 248KB

Identification Reference Forms

Tools