Everything You Need to Know About Exchanging Damaged Notes, According to BNM

Bank Negara Malaysia (BNM) has issued a reminder for Malaysians to take better care of the cash we use every day.

In a Facebook update on 2 December, the central bank explained that any banknotes that are badly damaged or no longer meet their quality standards should be exchanged for new ones.

Photo via BNM

According to BNM, most banks are required to accept damaged notes at their counters, and you do not need to be a customer to make the exchange. Simple cases should be handled on the spot.

You can receive a same-day replacement if the note meets these conditions:

• At least two-thirds of the original banknote is still intact
• The Yang di-Pertuan Agong’s portrait has not been drawn on or marked
• The note has no political messages or other forms of defacing

However, some notes need a closer inspection before they can be replaced. Notes that are burnt, stained with ink, or eaten by termites must be sent to BNM for verification. Banks are expected to inform customers when this happens, as the process may take some time. If the note is confirmed to still have value, the refund will be deposited into the customer’s account.

BNM also reminded the public that anyone, even non-account holders, can go to any bank branch to exchange damaged money. If a bank refuses to help, you can file a report with BNMLINK.

For full guidelines on how to properly handle and exchange currency, you can visit BNM’s official website.