Do Shops Accept Ripped Notes Australia
The Reserve Bank recommends that people take damaged banknotes to their bank or another authorised deposit-taking institution. Badly damaged and contaminated banknotes need to be forwarded to the Reserve Bank's National Banknote Site (NBS) for assessment. For further information see Claim Requirements and Redeeming Damaged Banknotes . On the weekend, I had two shops (one a fast food establishment, the other, a petrol station), refuse to accept a $10 note, that had a small 2 centre tear.The note was not worn, or had parts missing. I had received that note already like this..
From what I understand from the reserve bank's guide, as long as you have the pieces that add up to the entire note, you will be fine. The guide says you can lose up to 20% of the note and still use it. If you lose more than 20%, they start proportionately reducing the value (eg if you had only half the note, you could get $25 for it). 16 level 2