Banks Will Swap Flawed Banknotes

A central bank official has reminded the populace that they can take flawed polymer banknotes to any bank and get new ones in return without charge or paperwork.

VND10,000 and 200,000 notes

Ho Huu Hanh, deputy director of the State Bank’s Ho Chi Minh City branch, made the announcement in response to the public’s increasing number of complaints about the new notes, particularly the printing errors on many of them.

Normally the swap is free of charge but if there is damage due to the holder’s carelessness, there is a four percent fee for exchanging notes of under VND500,000 and three percent otherwise.

Besides commercial banks, the State Treasury and the HCMC State Bank will also swap faulty polymer notes for new ones.

Prior to August 31, the State Bank of Vietnam had put VND500,000, VND100,000, VND50,000 and VND20,000 polymer notes into circulation because they are harder to forge and last longer. On that date it added VND10,000 and VND200,000 notes.

Source: TTO, ND – Translated by Thuy Hang

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