Persons or entities holding damaged or defective banknotes may submit them at a branch office of the Banco de España (or a financial institution) for recognition and subsequent exchange for new banknotes.
As a general rule, banknotes shall be exchanged if more than half of the original surface of the banknote is presented or if it can be demonstrated that the part missing was destroyed. Banknotes that are stained, dirty, defaced or torn, once recognised, can be exchanged for new banknotes of the same value or, if they prefer, the corresponding sum can be lodged to their current account of the financial institution indicated.
The exchange of banknotes damaged by the activation of anti-theft devices, presented by professional customers (financial institutions, cash in transit companies and currency exchange outlets), shall be subject to a commission of ten cents per banknote if the number of banknotes exchanged is one hundred or more. No commission shall be charged where banknotes have been damaged as a result of robbery or attempted robbery or extreme situations justified with a photocopy of the relevant report submitted to the police or judicial authorities.
If the banknote presents exceptional manufacturing defects, it can be exchanged in similar conditions in any Banco de España branch office or through a financial institution.
The Banco de España reserves the right to refuse certain transactions and/or limit the exchange of banknotes depending on the circumstances of the presentation of the banknotes.
Any natural person or legal entity holding torn, discoloured or worn-out banknotes may submit them at any branch office of the Banco de España (or a financial institution) for recognition and subsequent exchange for new banknotes.
It is necessary to make an appointment to carry out this procedure.
Damaged and defective banknotes can be exchanged at the Banco de España building in Madrid (Calle Alcalá 48) and its branch offices, providing the information given in the informative form “Impreso billetes defectuosos y deteriorados” provided in the “Processing” section.
In the section "Other useful information" you can find the details of all the branch offices of Banco de España.