Redeeming Damaged Banknotes

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

Redeeming process

The Reserve Bank recommends that people take damaged banknotes to their bank or another authorised deposit-taking institution (ADI). These institutions are encouraged by the Reserve Bank to accept all claims. Incomplete banknotes may be assessed on the spot using grids provided by the Reserve Bank to calculate the value. Badly damaged and contaminated banknotes need to be forwarded to the Reserve Bank's National Banknote Site (NBS) for assessment. All ADIs will ensure the claim is securely delivered to the NBS on behalf of the claimant.

Incomplete, badly damaged or contaminated banknotes may also be presented at the Reserve Bank's Sydney head office (65 Martin Place) or Canberra branch (20-22 London Circuit) for secure delivery to the NBS.

A 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. Where no other option is available, individuals may choose to send their claim by mail to:

Operations Manager
National Banknote Site
Reserve Bank of Australia
PO Box 2100

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

Banks and other ADIs should not send claims by mail under any circumstances.

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 a form has been completed previously.