Bank refuses to accept torn banknote - what other options? | ExpatWoman.com
 

Bank refuses to accept torn banknote - what other options?

172
Posts
EW NEWBIE
Latest post on 03 March 2014 - 17:09
Thank you for your replies. Just to update everyone - We took the note to the Bank branch manager and mentioned that they had to accept it as per the Central Bank regulations and the manager agreed. They photocopied both sides of the note and gave us a signed photocopy as well. The note will be sent to their head office and after some due process, we will be given a brand new note in exchange. We already tried using it at restaurants/shops/petrol stations and it was always returned. The reason was probably because it was ripped in two and then taped together by it's previous owner so considerably more damaged than your normal wear and tear as far as currency notes go. Anyway, all sorted now (unless the manager doesn't get back to us in the next few days!). <em>edited by fatmuch on 03/03/2014</em>
544
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EW GURU
Latest post on 02 March 2014 - 01:49
Any shop/bar/restaurant will accept it. Wouldn't bother wasting your time with the banks; there's really no need to.
841
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EW GURU
Latest post on 01 March 2014 - 22:56
Try it in a machine that accepts direct cash deposits. Otherwise, ask a trusted friend who uses a bank with the envelope deposit system to try paying it into their account. Of course, cash deposited in an envelope is still subject to checking by a human before it's credited to the account, so there's always the chance that it would be rejected, but if it's accepted (different banks may have different policies on torn notes, even though they should all just accept them regardless), they can withdraw another 500 and pay you back. Otherwise, follow rawla's advice about the Central Bank. If it was me I'd probably check first with the CB to get chapter and verse on what should happen, just to make sure that individual banks don't have any wiggle room on this. <em>edited by Madge_Gustard on 01/03/2014</em>
405
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EW EXPLORER
Latest post on 01 March 2014 - 13:55
Shops will accept 'torn' notes as they are still legal tender, as should banks. I would tell my bank that a complaint will be lodged with the Central Bank about their refusal to accept a valid UAE currency note! And if they still refuse, I would lodge that complaint!
172
Posts
EW NEWBIE
Latest post on 01 March 2014 - 13:05
My husband ended up receiving a torn banknote in a transaction (he never bothered checking the change he was receiving!) and now we have a 500 AED note that is taped through the middle. Our bank refuses to exchange this note even though my husband and I have tried to do this on two separate occasions. Previous posts suggest that they are obligated to as it is legal tender but so far we haven't had any success trying to convince them (Private banking privileges obviously don't count for much either). I doubt the Cash Payment machines would accept it either although we haven't tried. Our bank does not have the envelope deposit system so that option is out. Any suggestions on what to do?
 
 

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