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The Bank of Finland will determine on the exchange of mutilated or damaged banknotes in accordance with Article 3 of the Decision of the European Central Bank (ECB/2003/4).
A mutilated banknote refers here to the part of the banknote which, in terms of surface area, represents more than 50% of the original banknote. It also denotes a banknote of which 50% or less is presented, provided the customer gives evidence of the destruction of the missing parts.
A banknote is considered damaged if it is stained, impregnated or so badly worn that verifying the authenticity of the banknote proves difficult.
Mutilated or damaged banknotes that come into customers' possession must be submitted to their own banks where a form for delivery of mutilated banknotes is then filled in. The bank will forward the duly completed and signed original form, together with mutilated or damaged banknotes, to the Bank of Finland for analysis and exchange.
Banks may also decide to exchange their customers' banknotes without first forwarding them to the Bank of Finland. This can be done if clearly more than 50% of the banknote is presented and the bank may include the banknote in its regular return of banknotes.
If a banknote is lost property, the relevant act must be taken into account, under which found banknotes with a denomination of over EUR 20 are to be delivered to the police.
If a banknote qualifies for exchange, the Bank of Finland will send its decision to the customer crediting accordingly the customer's bank account. If a banknote does not qualify for exchange, the Bank of Finland will return the banknote to the customer together with its decision.