Does the Bank of England still have a department that replaces damaged bank notes? If so, how much does it give out per year and do other countries do the same?

onlytrivial

The Bank of England will replace damaged or mutilated bank notes as long as there is sufficient evidence to suggest that the note is genuine. The bank recieves about 30,000 claims per year, and 98% are reimbursed. In 2002, 17 million pounds of notes were replaced. I believe some other nations do the same. Here is a website to back up what I stated before: http://www.bankofengland.co.uk/banknotes/factnote.pdf Zoom in, scroll to the second page and you should find the information in the coloured box in the right column. The European Central Bank also reimburses damaged notes. See: http://www.ecb.int/pub/pdf/other/bnlegalen.pdf Scroll down to page 30 for the policy. I read that in Liberia there is a bit of a crisis as many businesses will not accept worn or damaged bank notes, of which there are many. http://news.bbc.co.uk/1/hi/world/africa/2337445.stm Jan 16 05, 6:03 AM

Create a Free FunTrivia ID to add to, request more/new answers, or edit this entry

How much does is cost to buy a television licence in the UK and do any other countries require TV viewers to have a licence? Which bank printed the world's first bank notes and in what year? Why do Scotland issue their own bank notes? How much money do paleontologists get paid per year?

1 So Easy A Child DOES Do It This quiz is all about the child prodigies of the world. And I thought that I was pretty smart! Mixed People Difficult 10 Q AlchemyGirl Aug 28 09 555 plays 2 What Does this Excel Formula Do? Do you know your stuff? Well, this quiz will test your knowledge in Excel formulas. Formulas tested in Excel 2003. Software and Programming Average 10 Q Cyclonic Nov 01 04 1161 plays 3 Why Does My Cat Do That? This quiz is about things cats do, or sometimes will do, that we humans don't always understand. Good luck and as always, just have fun! Cats Average 10 Q Tigress31 Oct 06 02 23739 plays