Exchange of banknotes and coins

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What is the service?

The service will replace damaged euro notes and coins and change euro notes and coins for others of different denominations.

Who can use it?

  • persons possessing worn or damaged euro notes, i.e. notes that are dirty, marked or accidentally discoloured or that have less than half their surface "mutilated";
  • persons possessing damaged euro coins;
  • persons who want to have notes of different denominations or to exchange coins for notes, or vice versa.

How?

By delivering the notes and coins to one of the Bank of Italy branches providing the service or to bank or post office branches that may offer the same service.

If the volume of coins exceeds 500 pieces the request for an exchange may not be accomplished immediately at the counter, but completed at a later time. In this case the presenter is required to deliver the coins to the counter by filling out a remittance note indicating the volume of coins broken down by denomination, and to sign a declaration accepting, without any exception and reservation, the result of the check that will be carried out subsequently by the branch of the Bank of Italy without the submitter being present. The due amount will be corresponded in cash or by bank transfer on current account. In order to facilitate a first acknowledgment of the amount to be paid, the presenter may be required to submit the coins divided into separate transparent envelopes, one for each denomination.

For more information about these services contact the Bank of Italy Branches.

As for coins, the State Printing Works and Mint (Istituto Poligrafico e Zecca dello Stato) is responsible for the assessment of the eligibility for reimbursement of worn and damaged coins.

Helpful information

With the introduction of banknotes and coins in euros, those in lire ceased to be legal tender as of 28 February 2002, following two months of dual circulation. The conversion of lira notes and coins into euros was terminated on 7 December 2011 (Decree Law 201/2011, Article 26). Italy's Constitutional Court has now declared this provision unlawful.

Immediately after being apprised of the Court's judgment, the necessary analyses were launched with the Ministry of Economy and Finance to define the procedures for its enforcement. The conversion requests will be examined as soon as this phase has been completed.

Related Topics

Branches

The Bank of Italy operates throughout the country via its branches located in the regional capitals and in some provincial capitals.

Euro issuance

The Bank of Italy issues euro banknotes in accordance with the principles and rules established within the Eurosystem. As part of the Eurosystem, the Bank produces the quantity of euro banknotes assigned to it, puts them into circulation, withdraws worn notes, takes part in the search for and experimentation of new security features and contributes to the definition of common standards for the quality of the notes in circulation and the fight against counterfeiting.