Exchange of banknotes and coins

What is the service?

The service will replace damaged euro banknotes and coins and change euro banknotes and coins for 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.

As from 22 January 2016, applicants who can prove that their application to exchange lira currency has been submitted between 6 December 2011 and 28 February 2012, specifying the amount, can still apply for the exchange at one of the Branches of the Bank of Italy providing State Treasury services, i.e. Agrigento, Ancona, Aosta, Bari, Bologna, Bolzano, Brescia, Cagliari, Campobasso, Catania, Catanzaro, Firenze, Forlì, Genova, L’Aquila, Lecce, Livorno, Milano, Napoli, Palermo, Perugia, Pescara, Potenza, Reggio Calabria, Salerno, Sassari, Torino, Trento, Trieste, Venezia, Verona.

Applicants must bring to the counter - in addition to the lire to be exchanged - the appropriate documentation, in particular: written requests (on paper with a signature, through a certified electronic mail or a simple e-mail) or a statement regarding the non-execution of the exchange, signed by the staff of the Bank of Italy on a date no later than February 28, 2012, is considered suitable as proof. The exchange may also be allowed on the basis of other documents with similar reliability characteristics, which will be assessed by the Bank of Italy on a case-by-case basis. With regard to pending litigations, the Bank of Italy will propose the conclusion of specific settlement agreements with the plaintiffs' lawyers, if the conditions are met. For other possible cases, the Ministry of Economy and Finance is carrying out the necessary legal and financial investigations, with the cooperation of the Bank of Italy.

For information and reports please contact: conversionelireeuro@bancaditalia.it.

Related Topics

  • Branches

    Banca d'Italia operates throughout the country via its branches located in the regional capitals and in some provincial capitals.

  • Euro issuance

    Banca d'Italia issues euro banknotes in accordance with the principles and rules established within the Eurosystem.