How To Replace Mutilated/Damaged Bank Notes at South African Reserve Bank



If you have a damaged/mutilated note, South African Reserve Bank can replace it at no cost. Sometimes you realize your note is torn, leaving you with no option but to throw it away. But before you take this step, approach the bank to inquire whether you note is eligible for replacement. If they determine so, you will leave the old note with the bank and receive a new note, which is expected to be in perfect condition.

The procedure of exchanging old note in South Africa is as follows

Mutilated banknotes 

In terms of the South African Reserve Bank Act, Act No 90 of 1989, Section 14 (4) the Bank shall not be obliged to make any payment in respect of a torn banknote or a banknote which, in the opinion of the Bank, is mutilated and which may be tendered to it, may at its discretion however make a payment in respect of such banknote.


Download Form F73 under Publications to apply for the replacement of mutilated banknotes.




A banknote is deemed mutilated when its condition requires special examination to consider the value, if any, to be paid.  Such banknotes could be burnt, discoloured, decomposed, damaged with portions missing and/or contaminated.


Guidelines for payment of mutilated banknotes


For consideration of payment, if any, there must be physical evidence and positive identification that the banknotes are in fact authentic.


The South African Reserve Bank will not consider payment for any mutilated banknote that originates from criminal activities.


The South African Reserve Bank will not consider payment for any banknote that has been deliberately mutilated.


Branches of the commercial banks also have authority to pay mutilated banknotes in terms of the below criteria.


Criteria for payment


Click here to view the critieria for payment of mutilated banknotes.