Many people find themselves in trouble after either tearing or burning their money. This might happen when you accidentally wash the money with clothes or it just get torn without your knowledge.
When the currency in form of notes gets wet many people will go ahead and dry them. That is a good idea but you might find someone drying them in direct fire and that becomes a bad idea because the the money is made of special paper and can be burnt by fire.
Other people just get all there money has been covered by ink and they think that they cannot be used. It is is true that small shops and kiosks can not use your damaged money because it will have no importance to them.
There are also some torn money that are still in circulation in our small shops and kiosks. This money has been attached together using cell tape and it is regarded safe by members of the public.
The central bank of Kenya has taken the mandate to replace all damaged currency in Kenya. However, the Central Bank of Kenya regards the currency as damaged or unfit for use when they are torn, mutilated or marked with ink and removes them from circulation.
This is mainly done when the currency is brought to them from other commercial banks like Equity, Co-operative bank, Kenya Commercial Bank,Standard chattered bank and many others. This means that you can take you money directly to the bank for exchange with good ones.
Alternatively, you can take you money to big supermarkets and they will do the exchange for you. It is also preferably that you take the money directly to the Central bank of Kenya offices.
There are conditions in which money can be returned to the bank which includes; the money is not deliberately mutilated,the bank notes should bear atleast one serial number, the currency must be more that a half and continuous and also they must be genuine.
Content created and supplied by: TheeWriter (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More