Exchange of Banknotes and Coins

Damaged Euro Banknotes and Coins

The Central Bank provides a service to replace damaged or mutilated (e.g. partially burnt, cut, decomposed) genuine euro banknotes and coin.  As a general rule, and subject to criteria defined by the European Central Bank and the Central Bank’s authentication process being satisfied, if more than half of a mutilated note or coin is presented to the Bank and can be verified as genuine, it will be redeemed. 

Irish IR£ Banknotes and Coins

The Central Bank provides a service for the exchange of all Irish pound banknotes or coin issued for circulation by the Central Bank of Ireland or its predecessor, the Currency Commission, for euro. Please note that the Central Bank does not offer a foreign exchange service.

What should you do if you wish to exchange banknotes or coins?

Your notes can be exchanged either by post, in your bank or using the DropBox facility and should be accompanied by completed forms and Identification as listed below.

All euro coin should be packaged in line with standards detailed below.

Old Irish coin up to the value of IR£500 may be exchanged, at the discretion of the Central Bank, as set out below. All Irish coinage issued for circulation by the Central Bank or its predecessor the Currency Commission can be exchanged at present.  For information on amounts over IR£500 please refer to the guidelines below:

By Post:

• Complete  the form for mutilated notes MN1 Form (also available in Irish MN1 Irish form).
• Select the form for the exchange of Irish Banknotes as above.
• Send the completed form with the damaged or old notes or coins.

Local Bank Branch:

• Each bank branch has copies of Application Forms for Redemption of Mutilated Notes.
• On completion of the form, the bank branch will submit the application to the Central Bank on your behalf.   Banks may choose to send submissions in batch.

Drop Box  Facility, Central Bank:

• Members of the public can bring their Mutilated Notes to the Central Bank and deposit the notes in along with the completed form in the Drop Box Facility.
• Instructions are available at the drop box location

Normal opening hours: 12:00 – 14:30 Monday to Friday, excluding bank holidays.

Verification of Banknotes and Coins

On receipt of your banknotes or coin we will register your application and commence our verification and authentication process.  Please note that all submission of Irish pounds or mutilated euros to the Bank are subject to the successful completion of the Bank’s verification and authentication checks.

All lodgments must be accompanied with of one of the following forms of photographic identification:

• Valid Passport
• Valid Driving Licence 

Why Might Reimbursement be Refused?

Reimbursement of any amount of euro banknotes or coin is subject to the satisfactory completion of verification/authentication checks prior to reimbursement.

If less than half of the a mutilated note is presented to the Bank it may be refused.

The Bank may decide to refuse reimbursement of euro coins unfit for circulation which have been altered either deliberately or by a process that could be reasonably expected to have the effect of so altering them (this does not affect the replacement of coins that have been collected for charitable purposes, such as 'fountain coins').

The Central Bank of Ireland reserves the right to withhold a handling fee of the nominal value of the submitted coin. Where the acceptance or processing of euro coins constitutes a health risk for handlers, or where a submission fails to meet the packaging and labelling standards set out, the Bank may refuse to accept such coins. 

If you have any queries you can also contact us here.