Validity of bank notes: Advice needed.

laguacamaya

Hi folks,
So: My OH decided, a few years ago, to bury a sizable sum of money in her back garden (For fear of disclosing it to the taxman...And general silliness I guess:) ). She confided her actions to me recently and I immediately told her to retrieve them and keep them somewhere more secure and drier etc.
She did this and was heartbroken on the phone to me earlier, relating how badly damaged some of the notes were. (She maintains the serial number is still visible on the majority of the frayed/eroded notes). What's her best course of action? (I think she has a bank account as well...I know:pac:) Can she walk into her bank and expect to have them exchanged for shiny new notes? What's the exact criteria for valid legal tender? It's a (modest) 4 figure sum.
Thanks in advance. Any advice welcome.

Bubbaclaus

Give CAB a call and they'll take care of it.

CeilingFly

If it is a serious post and not just for a laugh, then she'll have to send them to the central bank who will decide and probably exchange them.

As for "legal tender" that only becomes a valid argument if a debt has occurred, so her local bank or any bank has no onus to accept them.

amber2

Three quarters of the note containing full serial number then the bank You are taking it to can just remit the note with their cash for destruction, anything less of the note has to be returned to central bank and if the remainder shows up (which Wont happen in this case) amount is split.....

This used be the case unless it has changed.

We had notes and coins found buried in a bog these were just taken in at the counter, exchanged for cash and we bagged and remitted to our cash centre, some of which you could hardly tell
What they were never mind what denomination they were...... bear in mind this is a good 20 yrs ago, they may not be so accommodating now but nothing ventured & all that, give her bank a go.

coylemj

amber2 wrote: »

Three quarters of the note containing full serial number then the bank You are taking it to can just remit the note with their cash for destruction, anything less of the note has to be returned to central bank and if the remainder shows up (which Wont happen in this case) amount is split.....

If they are punts (pre-Euro Irish pounds) then she has to go to the Central Bank, her local banks won't touch them, even in mint condition.

A lot of bank branches now only do cash on certain days of the week and I heard recently that some small branches are totally (Mon-Fri) cashless so don't even think of going into an ordinary bank with decrepit old punt bank notes, they will laugh at you.

laguacamaya

coylemj wrote: »

If they are punts (pre-Euro Irish pounds) then she has to go to the Central Bank, her local banks won't touch them, even in mint condition.

A lot of bank branches now only do cash on certain days of the week and I heard recently that some small branches are totally (Mon-Fri) cashless so don't even think of going into an ordinary bank with decrepit old punt bank notes, they will laugh at you.

They're Euros. Thanks for input.

splinter65

laguacamaya wrote: »

They're Euros. Thanks for input.

I don’t know if this is any use to you but my current husband had about £400 sterling in £10 notes at home and was shocked to hear that they were no longer “usable” since earlier this year when the Bank of England introduced new notes.
I rang Financial Services and they gave me the no of Threadneedle St and they told me that he’d have to send the money by post to them at his own risk and have it exchanged and that the Irish banks wouldn’t touch it.
He walked into our own AIB and they gave him the lovely new notes no bother.

testicles

This post has been deleted.

hanaimai

The Central Bank will exchange damaged euro notes/coins for non-damaged ones. You just fill in a form and send it to them with the money and they'll refund to your bank account. It's explained here - https://www.centralbank.ie/consumer-hub/notes-and-coins/exchange-of-notes-and-coins

CeilingFly

testicles wrote: »

Ladies and gentlemen, I present to you... Mansplaining.

And since January, its an official word according to the Oxford English dictionary.