Nikita Chaplin, a member of the State Duma Committee on Budget and Taxes, stated that dollar bills have no "expiration date." He also shared recommendations on how to proceed if banks refuse to accept old-style bills.
It is important to understand that there is no such thing as an "expiration date" for dollar bills. According to U.S. law, all Federal Reserve System notes issued after 1914 are legal tender and must be accepted for payment. Russian banks also have no legal grounds to refuse to accept old-style dollars if they are in satisfactory condition and do not raise doubts about their authenticity.
The deputy noted that the final decision on accepting or refusing to accept old-style currency remains with the bank. If the bank issues such bills, the client should contact the branch management with a request to replace them with new-style banknotes.
In case of refusal, the deputy recommends filing a complaint with the Central Bank of the Russian Federation.
Regarding the sale of old-style U.S. dollars held by citizens, Chaplin emphasized that banks are obliged to conduct transactions for the purchase and sale of cash foreign currency.
Exchange offices operating at banks are obliged to accept old-style U.S. dollars if they do not have significant damage, such as tears, traces of oil, or gluing. In case of refusal to exchange, citizens have the right to demand a written justification for the reason for the refusal.
Each financial institution in Russia has the right to establish its own criteria for assessing the degree of wear and tear of foreign currency bills, Chaplin noted.
At the same time, it is important that these criteria do not contradict current legislation and do not infringe on consumer rights. In case of disputes, citizens can contact Rospotrebnadzor or the court to protect their rights, the deputy emphasized.
Back in 2024, Russians faced problems using old-style U.S. dollars in both domestic and foreign banks and currency exchange points.
The Association of Tour Operators of Russia recommends that tourists planning trips abroad purchase new-style dollars or another currency that is accepted in the destination country in advance.
Earlier, information appeared that Russian banks began introducing commissions for accepting old-style dollars, which can range from 1 to 5 thousand rubles per bill. This decision is due to the fact that banks are increasing operating costs and risks associated with such bills.
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