Victims of Australia’s bushfires can have banknotes burnt in the blazes replaced.
Nine News reports the cash can be replaced by putting the destroyed banknotes in a plastic bag labelled “bushfire” and taking it to a local bank.
The Australian news service reports that the Reserve Bank of Australia (RBA) is helping victims who may have had cash stored on their property, even if it was completely destroyed.
“We can help you if your banknotes have been partially or completely destroyed,” RBA said on its website.
“The RBA will analyse the banknote debris you send us, determine the value and reimburse you the assessed amount for the money you have lost.
“If the cash was in a tin, drawer or wallet for example, it might be easier to include the receptacle and its contents in the bag.”
According to Nine News, claims that involve sums of more than $1,000 will also require an identification reference form to be completed.
The news service explains that if a banknote presented to the RBA is incomplete or has pieces missing, the full value of the note may not be paid to prevent people attempting to submit deliberately defaced notes for profit.
The following rules have, therefore, been put in place:
- If less than 20%of a banknote is missing, then the full-face value of the note is paid.
- If between 20% and 80% of a banknote is missing, then value is paid with the percentage of the banknote remaining. For example, if only half of $10 note is presented, only $5 will be paid.
- If more than 80%of a banknote is missing, no value will be paid.
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