Where can you exchange damaged or old lari banknotes?
Free replacement at face value and the banks' conditions.
Short answer
Worn and damaged lari banknotes and coins are replaced free at face value at the National Bank of Georgia and commercial banks if they still meet the fitness criteria. A bank must accept a banknote if more than 50 percent of its original size remains and it can be identified. The National Bank does not replace or exchange foreign currency.
Why
- Replacement at the National Bank and commercial banks is free, and notes and coins are exchanged at face value.
- The fitness criteria and acceptance rules are set by Board Resolution No. 4 of the National Bank of 27 June 2011.
- Under Article 34 (paragraph 3) of the law the National Bank is liable at face value for the banknotes and coins it has issued, except those withdrawn from circulation and those of numismatic value.
Details
Businesses and other organisations, except commercial banks, must accept damaged lari at face value in payments if a banknote keeps its main features and its denomination can be identified, or if a coin keeps its images, size and colour. Commercial banks accept such money in payments or for replacement if more than 50 percent of the banknote's size remains and it can be identified, but they cannot return it to circulation.
This applies to money that is still fit for payment: the National Bank put the detailed criteria into a separate document, Fitness Criteria (a PDF). Older lari issues stay in circulation next to the upgraded ones, and money withdrawn from circulation is in the National Bank's Withdrawn money section. For the banks of the country see What banks are there in Georgia, and which should a foreigner choose, and for how the notes look see Who is pictured on Georgian lari banknotes.
Tip
If a banknote is torn, collect all the pieces: a bank accepts a banknote when more than 50 percent of its size remains. Take it to a bank rather than trying to pay with it in a shop.
What may differ
Banknotes and coins that fail the fitness criteria, those withdrawn from circulation and numismatic ones fall outside these rules. The National Bank does not exchange foreign currency, and each commercial bank has its own terms for it.
Common misconception
A torn or worn lari banknote will not be accepted anywhere.
What actually happens
Worn and damaged banknotes and coins are replaced free of charge at face value at the National Bank and commercial banks if they meet the fitness criteria.
People also ask
- Where can I exchange a damaged lari banknote?
- What to do with a torn banknote in Georgia?
Sources
Check the acceptance terms with your bank, the rules may change.
Related questions
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How do you receive a transfer from abroad to a Georgian account?
You can receive money from abroad by bank transfer to your IBAN, through a system such as Western Union, or via Visa+ by phone number to a TBC card.
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What is a Georgian IBAN and where do you find it?
A Georgian IBAN has 22 characters: the country code GE, two check digits, two letters of the bank code and 16 digits of the account identifier assigned by the bank.
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How can you top up a card or pay a bill at a terminal in Georgia?
Utilities, mobile, internet, television and state services in Georgia are paid at payment terminals: the TBC Pay network has more than 4,000 terminals and over 1,000 services.
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Which lari banknotes and coins are in circulation now?
Georgia has banknotes of 5, 10, 20, 50 and 100 lari and coins of 5, 10, 20 and 50 tetri, 1 and 2 lari.