This year, Spain has once again faced large-scale wildfires affecting several regions of the country. The fires have damaged not only homes and property, but also residents’ cash. The Bank of Spain has reminded citizens that they can exchange damaged banknotes and coins for new ones.
To exchange damaged currency, individuals must visit a branch of the Bank of Spain in person. It is also possible to apply through your local bank, which will send the damaged money for examination. Bank specialists verify the authenticity and degree of damage to the banknotes or coins. If the money is found to be genuine, its face value is returned to the owner.
In most cases, an exchange is possible if more than half of the original banknote remains. If a portion of the note is missing, proof may be required that it was destroyed, for example, by fire. After verification, the client receives new banknotes or, if preferred, the amount can be credited to a specified bank account.
The Bank of Spain also accepts notes for exchange that have stains, inscriptions, or tears, as long as there are no doubts about their authenticity. The exchange procedure is free of charge, and the review period depends on the complexity of the case and the extent of the damage.
Amid the increasing frequency of natural disasters, this measure allows citizens to preserve their savings, even if they have been damaged by fire. It is important to remember to request the exchange as soon as possible after discovering the damaged funds, to prevent further deterioration of the banknotes or coins.
The Bank of Spain emphasizes that only genuine euro currency is eligible for exchange, while counterfeit or questionable notes will not be accepted. In cases of doubt, experts will conduct an additional examination. If the money is determined to be counterfeit, it will not be returned to the owner.
Thus, despite the aftermath of fires, residents of Spain can rely on support from financial institutions and safeguard their savings. The Bank of Spain continues to inform the public about the opportunities for exchanging damaged money and recommends not discarding even severely affected banknotes, but rather bringing them in for inspection.
