Examination and replacement of banknotes and coins
Damaged euro or lats banknotes and coins can be replaced at the Cashier's Office of Latvijas Banka free of charge. Latvijas Banka does not replace banknotes and coins of other countries.
Where the cashier is uncertain about the validity of the damaged euro or lats banknote or circulation coin submitted for replacement or should any doubt arise regarding its authenticity, large numbers of banknotes and coins are submitted for replacement or they fail to meet the conditions of immediate replacement, the banknote or coin is accepted for an expert examination on the basis of the customer's application, and the Commission for Examination of Banknotes and Coins of Latvijas Banka is to decide on its replacement. An opinion is provided within one month. The face value of banknotes and coins is redeemed via non-cash transfer to the payment account provided by the customer.
Replacement of euro banknotes and coins in circulation
Latvijas Banka replaces damaged euro banknotes and coins in accordance with the provisions of the European Union legislation:
- euro banknotes: in accordance with the procedure set out in the Decision of the European Central Bank of 19 April 2013 on the denominations, specifications, reproduction, exchange and withdrawal of euro banknotes;
- euro coins: in accordance with the procedure set out in Regulation (EU) No 1210/2010 of the European Parliament and of the Council of 15 December 2010 concerning authentication of euro coins and handling of euro coins unfit for circulation.
Latvijas Banka does not return any of the damaged euro banknotes and circulation coins to the submitter, but withdraws them from circulation and destroys them.
Latvijas Banka replaces damaged euro banknotes complying with the following criteria:
- euro banknotes, where the remaining part, in one piece or torn and subsequently glued together, constitutes more than 50% of the original size of the banknote;
- euro banknotes, where the remaining part constitutes 50% or less of the original size of the banknote, provided that the individual submits credible evidence to Latvijas Banka that such a banknote has existed and the missing parts have been destroyed, e.g. a statement issued by the State Fire and Rescue Service of Latvia;
Latvijas Banka withdraws from circulation damaged euro banknotes, does not return the above to the submitter and does not redeem their face value, where such banknotes have been intentionally damaged (e.g. some features and fragments have been deliberately cut out, security features damaged, conspicuous inscriptions and advertisements made on them, etc.). Slightly damaged euro banknotes, for instance, banknotes with notes, numbers or short sentences written on them, shall not be considered intentionally damaged, and their face value shall be redeemed.
Latvijas Banka replaces damaged euro coins, where they have been damaged as a result of long-term circulation or an incident (e.g. fire, accident, etc.). The individual is obliged to submit credible evidence proving the fact of the incident (e.g. a statement issued by the State Fire and Rescue Service of Latvia or a statement issued by an insurance company confirming the fact of the insured incident).
Latvijas Banka withdraws from circulation damaged euro coins, does not return the above to the submitter and does not redeem their face value, where the visual appearance of such coins has been altered either intentionally or by a process that could be reasonably expected to have an altering effect.
The following euro coins are deemed to be the coins whose visual appearance has been altered either intentionally or by a process that could be reasonably expected to have an altering effect:
- bimetallic coins where an inner part and outer ring have fallen apart;
- drilled-through coins;
- coins damaged by chemical substances;
- coins coloured or coated with another material;
- coins cut up, ground, sharpened, rubbed over, compressed, welded, bent or otherwise deformed under a mechanical impact;
- coins intentionally turned into a souvenir item or jewellery (e.g., a laminated coin, a coloured coin or coin coated with another material, a coin made into a pendant, beads, cufflinks with drilled holes or framed, with eyelets attached to it, and the like);
- coins damaged during the processing or utilisation of waste or metal (scrap metal processing);
- coins that have other features suggesting a deliberate damaging of coins or indicating that coins have been damaged by a process that could be reasonably expected to have such an effect.
Latvijas Banka shall neither replace counterfeit euro banknotes and coins nor reimburse any losses incurred due to such counterfeits. These shall not be returned to the customer but shall be transferred to the police.
Should any doubt arise regarding the authenticity of the euro banknote or circulation coin submitted for replacement, large numbers of euro banknotes or circulation coins are submitted for replacement or where a torn banknote consists of more than two pieces or the size of the remaining part of a torn banknote cannot be established, or should there be any other cause for doubt, e.g. the banknote has been burned, bleached, laundered, or a security feature is missing, the banknote is accepted for an expert examination on the basis of the customer's application, and the Commission for Examination of Banknotes and Coins of Latvijas Banka is to decide on its replacement. An opinion is provided within one month.
Latvijas Banka does not replace or return ink-stained banknotes as they might be obtained through criminal activity. There is an exception for cases where the banknotes and coins are submitted by their owner or his/her authorised person who is the victim of the actual or attempted criminal activity leading to the damage to the banknotes.
Upon the replacement of damaged euro or lats banknotes and coins, Latvijas Banka has the right to request the person to present a passport or person's identification card (ID card).
Replacement of lats banknotes and circulation coins
Latvijas Banka replaces damaged lats banknotes and coins in circulation pursuant to the procedure stipulated in the Law on the Procedure for Introduction of Euro.
Latvijas Banka replaces damaged lats banknotes and circulation coins with euro banknotes and coins as per the exchange rate of the lats against the euro specified by the Council of the European Union, where they comply with the following criteria:
- lats banknotes, where the remaining part, in one piece or torn and subsequently glued together, constitutes more than 51% of the original size and the security features are discernible and the face value is distinguishable;
- lats coins in circulation, where the face value is discernible and the coat of arms of Latvia can be identified.
Latvijas Banka shall not replace a damaged lats banknote or a coin in circulation failing to meet the above criteria and shall return it to the customer upon request.
Latvijas Banka shall neither replace counterfeit lats banknotes and coins nor reimburse any losses incurred due to such counterfeits. These shall not be returned to the customer but shall be transferred to the police.
Replacement of euro or lats collector and commemorative coins
Damaged euro collector coins, euro commemorative coins in a souvenir packing and sets of euro circulation coins, as well as lats collector coins shall be replaced where experts have identified production defects. The Cashier's Office accepts these coins and sets of coins for an expert examination on the basis of the customer's application.
Should experts identify a production defect, the coin or set of coins shall be replaced by the same type of defectless coin or set of coins upon the costumer's request. In case the entire batch of the above has been sold out, the customer shall be reimbursed with the amount on the respective sales document issued by Latvijas Banka, or, in the absence thereof, according to the latest retail price set by Latvijas Banka. In all other cases, the coins shall be replaced according to their face value.
Examination of foreign banknotes and coins
Latvijas Banka does not replace damaged bforeign anknotes and coins; however, the above is accepted for examination of authenticity on the basis of the customer's application.
Should experts identify the foreign banknote or coin as counterfeit, Latvijas Banka shall neither replace the above nor reimburse any losses incurred. Latvijas Banka shall deliver a competent authority's statement regarding the counterfeit to the State Police, while also informing the submitter of the banknote or coin. Should the foreign banknote or coin be authentic or should it also be damaged, Latvijas Banka shall not replace the above but shall return it to the customer.
The opinion on the authenticity of the banknote or coin is provided within one month.