The Bank of Japan (hereinafter "the Bank") exchanges damaged cash for new cash according to the provisions stipulated below.
1. Cash which is Exchangeable at the Bank
The following types of cash (hereinafter "damaged cash") are exchangeable for new cash by the Bank:
- Bank of Japan notes which are not suitable for use due to contamination, damage, or other reasons (hereinafter "damaged banknotes").
- Japanese Yen coins which are not suitable for use due to wear or other reasons (hereinafter "damaged coins").
The Bank does not exchange undamaged banknotes or coins for different denominations. Those who wish to receive this service are requested to consult with a commercial bank.
2. Place of Exchange
The Bank exchanges damaged cash for new cash at its head office and branches. The Bank does not provide such service at its Computer Center (Fuchu-shi, Tokyo), Banknote Operations Center (Toda-shi, Saitama), domestic offices, or overseas representative offices.
Note: The Bank does not exchange cash sent by mail. Please visit its head office or branches in person.
3. Opening Hours
- The Bank exchanges damaged cash on its business days from 9:00 a.m. to 3:00 p.m.
- The Bank processes damaged cash for exchange promptly upon receipt. The time required to process damaged cash for exchange depends on the quantity, degree of damage and other conditions of the damaged cash.
- The Bank maintains the necessary capacity to process a typical amount of damaged cash brought in one day based on its past experience. However, the Bank may not be able to exchange all damaged cash in one day if its daily capacity is exceeded. Because the Bank cannot keep damaged cash in custody overnight, in such cases the Bank may return it to you unprocessed and ask you to bring it back again on another business day.
- Please inform the Bank in advance when you plan to bring in damaged cash regardless of the amount or severity of damage.
4. Criteria for Exchange of Damaged Cash
The Bank exchanges damaged cash for new cash according to the following criteria. Damaged cash that does not meet the criteria has no value.
(1) Bank of Japan notes
Only banknotes which have both a front side and a reverse side are exchangeable.
- a. A banknote with two-thirds or more of the original banknote remaining:
The Bank exchanges it at full face value.
- b. A banknote with two-fifths or more, but less than two-thirds, of the original banknote remaining:
The Bank exchanges it at half face value. If the half face value contains a fraction of less than 1 Yen, the fraction is omitted.
In case a banknote is torn into two or more pieces, the total remaining area of the pieces is judged following the above criteria, provided that each piece can be identified as coming from the same banknote.
(2) Japanese Yen coins
Only coins whose inscriptions are recognizable are exchangeable.
The criteria for exchanging coins are as follows. However, if the decrease of weight of damaged coins is caused by disaster or other inevitable events, the Bank exchanges the coins at full face value, provided their inscriptions are recognizable.
- a. Gold coins
The Bank exchanges a gold coin at its full face value if it weighs at least 98% of its original weight.
- b. Coins other than gold coins
The Bank exchanges a damaged coin at its full face value if it weighs more than half its original weight.
5. Form for Bringing in Damaged Cash
(1) Form of damaged cash to be brought in
Please arrange the damaged cash as follows before bringing it to the Bank. Your cooperation is highly appreciated.
a. Bank of Japan notes
- If you have a torn or shredded banknote, please place each piece together as far as possible. Please check features of each piece carefully such as the serial number, printed pattern and color to avoid sticking pieces of different banknotes together.
- The Bank may judge banknotes torn into shreds as having no value if they cannot be identified as pieces of the same banknote.
- If you have wet banknotes, please dry them one by one to the possible extent. If you have a banknote with materials adhered, please remove them as far as possible.
b. Japanese Yen Coins
- If you have a heavily-soiled coin, please wash and dry it.
- If you have a coin with materials adhered such as bits of metal or plastic, please remove them as far as possible.
(2) Form of damaged cash inclined to fall apart
If you have brittle cash such as burnt banknotes, please protect them from further damage, for instance, putting them in a container. The Bank may judge disintegrated pieces of cash as having no value.
6. Exchange Procedure
- To request the Bank to exchange damaged cash, you must fill out the "Damaged Cash Claim Form" available at the Bank's counter and submit it to the counter with the damaged cash.
- The Bank will ask you to present your valid passport (if not available, photo ID issued by governmental institutions).
- The Bank may question about the damaged cash.
- The Bank will give you a numbered tag upon receiving the Damaged Cash Claim Form and damaged cash. Keep the numbered tag as you will need it to receive the exchange value.
- The Bank will determine the exchange value of the damaged cash based on the criteria for exchange of damaged cash stipulated in section 4.
- If the Bank finds it necessary to examine damaged cash for its authenticity, the Bank will process it in conformity with section 8 below.
- The Bank will pay the exchange value in cash, with the minimum number of banknotes and/or coins.
- You must submit the numbered tag to the counter and state your name before receiving the exchange value. You must check the amount of exchange value upon receiving it from the Bank.
- If you cannot comply with the above procedures, please consult the Bank in advance.
The Bank exchanges damaged cash for new cash without charge.
8. Examination of Cash for its Authenticity
If you suspect cash in your possession is counterfeit or altered cash and wish the Bank to examine its authenticity, you must fill out the "Examination Application Form" available at the Bank's counter and submit it to the counter with the cash.
The Bank may ask you how you acquired it and other matters. The examination may take a considerable time.
- If the cash is judged to be genuine, the Bank will process it as follows:
- (a) The Bank will exchange the cash for new one if it is damaged or inconvenient for use and you wish to exchange it. The procedure is the same as stipulated in section 6.
- (b) The Bank will return the cash to you if it does not meet the condition set out in (a).
- If the cash is judged to be counterfeit or altered cash, the Bank will return it to you. You must surrender the cash to a local police station.