Define: Bank Note

No, as long as the bank note is legal tender and in good condition, you are legally obligated to accept it as payment for goods or services.

Yes, banks have the right to refuse acceptance of torn or damaged bank notes. However, you can exchange them for new ones at your respective central bank or authorized financial institutions.

No, it is illegal to deface or write on a bank note. Doing so can render it invalid and may result in penalties.

In most cases, yes. Banks and authorized financial institutions usually allow customers to exchange bank notes for different denominations, subject to availability.

Yes, banks and authorized financial institutions generally allow customers to exchange bank notes for coins, subject to availability and any applicable fees.

No, discontinued or out-of-circulation bank notes are no longer considered legal tender and cannot be used for transactions. However, some central banks may provide exchange services for these notes.

Yes, if you have reasonable grounds to believe that a bank note is counterfeit, you have the right to refuse acceptance. It is advisable to report any suspected counterfeit notes to the relevant authorities.

Yes, banks and authorized foreign exchange providers usually offer currency exchange services, allowing you to exchange bank notes for different currencies, subject to applicable fees and exchange rates.

If a bank note has been damaged by water or fire but is still recognizable and the majority of the note remains intact, it may still be accepted as legal tender. However, heavily damaged or illegible bank notes may be refused.

Yes, most central banks and authorized financial institutions offer exchange services for old or worn-out bank notes. These notes are typically replaced with new ones, subject to certain conditions and any applicable fees.