What kinds of damaged RMB are not accepted by banks?

Any bank branch engaged in RMB cash business has the obligation to exchange defective or defaced RMB for customers free of charge. At present, the main basis for the exchange of damaged RMB in China is the "Measures of the People's Bank of China for the Exchange of Damaged and Defaced RMB", which has three exchange standards:

1.Redeem in full.

If the denomination can be distinguished, the remaining three-quarters (including three-quarters) of the face value, and the design and text can be connected as it is, or if the RMB is damaged or defaced, the financial institution shall exchange the full amount of the original denomination to the holder.

2.Redeem half.

If the denomination can be distinguished, the remaining half (including one-half) to less than three-quarters of the face value, and the mutilated or defaced renminbi whose designs and characters can be connected as they are, can be exchanged at half of the original denomination when closed.

3.No redemption.

If the banknote is in the shape of a cross and lacks one-quarter, it shall be exchanged at half of the original denomination; If the remaining part is less than one-half, it will not be exchanged. When you go to the bank for exchange with more than 10 damaged coins, you need to present the certificate of the cause of the damage issued by the customer unit or the community.

Expansion: Article 15 of Chapter III of the People's Bank of China Law stipulates that "the legal tender of the People's Republic of China is the renminbi".

On December 1, 1948, when the Chinese People's Bank of China was established, it began to issue the first set of renminbi; On March 1, 1955, the second set of renminbi was issued; On April 15, 1962, the third set of renminbi was issued; On April 27, 1987, the fourth set of renminbi was issued; On October 1, 1999, the fifth set of renminbi was issued. In 2014, the fifth set of renminbi circulating in the market was the fifth set. On November 12, 2015, 100 yuan in the fifth set of renminbi was changed to local tyrant gold.

The unit of RMB search is Yuan (Yuan) (RMB Yuan Renminbiyuan, abbreviated as "RMB", with " " as the code). The unit of RMB auxiliary currency is the arc cent. The renminbi does not stipulate the legal gold content, and it performs functions such as a measure of value, a means of circulation, and a means of payment.

Web Links.

Effective 1 February 2004, the People's Bank of China introduced a new exchange method for the broken renminbi. The Measures for the Exchange of RMB Damaged by the People's Bank of China promulgated by the central bank stipulate that more than three-quarters (including three-quarters) of the remaining face of the ticket can be exchanged in full if it has the specified characteristics; Half of the remaining half (including one-half) to less than three-quarters of the face value of the ticket with the specified characteristics.

The new measures amend the original "full exchange of mutilated renminbi with prescribed characteristics with no more than one-fifth of the face mutilation, and half-value exchange with the prescribed characteristics of more than one-fifth to one-half of the face mutilation" to "full exchange of more than three-quarters (including three-quarters) of the remaining face value with the prescribed characteristics, and half of the remaining one-half (including one-half) to less than three-quarters of the face value with the prescribed characteristics"; At the same time, a new provision was deliberately made that "the banknote is in the shape of a cross, missing a quarter of the mutilation, and defaced RMB can only be exchanged for half of the amount"; In addition, the separate provisions on the exchange standards for mutilated or defaced renminbi that were originally caused by fire, insect moth, rat bites, mildew and other special reasons will be abolished.

The exchange of remnants is very bad right now.

I have a broken coin, can I change it?