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Damaged cash: What to do if your money is damaged by fire, water, rats or anything else

Norman Mwambazi by Norman Mwambazi
November 7, 2019
in Business
Reading Time: 2 mins read
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Yes a heartbreak is painful but have you ever found your money burnt in a fire or washed away by floods or eaten by mice or torn apart by an angry girlfriend who found out that you are getting the services of ‘Becky with the good hair’? That is truly a different kind of pain.

If you can collect the pieces, there is hope that Bank of Uganda can replace your cash with brand new notes of the same value, but as is almost everything else, there are terms and conditions which have been explained below.

1. Your damaged cash must bear at least one complete signature of either the Governor Bank of Uganda (BoU) or the Bank Secretary. This is used to ensure that it is truly a legitimate BoU currency note.

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2. Your note must have at least one full denomination printed figure. Don’t take a damaged shs10,000 note with three zeros, please. Your money will not be exchanged, matter of fact, you might be arrested for trying to defraud the bank.

3. Your cash must bear at least one complete serial number. In case you didn’t know, the serial number on the currency note is the real money, not the chimpanzees and rivers, those are just for decoration. Does your damaged note still have a serial number? If yes, you still have money. If no, then you, my friend, have nothing.

4. Lastly, your money should be at least two thirds (2/3) of the original size. Now this is very important. You don’t just pick tiny remains of the cash and take it to the bank for exchange, even if it has the serial number, the signature and denomination but it is not at least 2/3 the original size, it will not be excanged. Yeah, sadly.

Demo by Bankof Uganda.

If your damaged money fulfills the conditions above, however much (or little) it is, take it to any BoU currency center between 9 am – noon, Monday – Friday and it will be exchanged so you can use it to buy a fire extinguisher, waterproof roof, rat poison and a new girlfriend.

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Norman Mwambazi

Norman Mwambazi

Writing is my substitute for worry. Live. Love. Laugh. Be Good.

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