Hi guys.. Today I would like to share something that I just knew and I believe many of you still do not realize. It is something about the Malaysian Currency and this article is not just focused to Malaysian because some of you might want or need to visit Malaysia in the future. We use money everyday but sometimes we might encounter a mutilated or broken currency notes. I had always confused about these notes whether they are still valid to be used and what should I do with them. Most of the time I will try to spend the note and hope that the shopkeeper will accept it. What happen if the shopkeeper don’t want to accept the broken notes? Here are some information you should know about the Malaysian Currency:

1. Legal Tender. The banknotes and coins must not be defaced (damaged or spoiled by writing or drawing) for them to be legal tender. Any party can refuse to accept payments using defaced notes or coins. For coins, there are limits to which you can use them to make payments. 50 sen (Malaysian cent) coins can be used to make payments of up to RM10 while 5 sen, 10 sen, and 50 sen coins can be used as legal tender up to RM2. 1 sen and RM1 coins has been removed from usage and no longer valid as legal tender.
2. Defaced Malaysian Currency. Any banknotes should not be defaced with words, signs, symbols, drawings, or messages. You should also not drill holes into coins. Any defaced banknotes or coins will not have any value and you can always reject these defaced notes in payments. Defaced banknotes and coins cannot be exhanged for new currency at any banks because they have already lost their values.
3. Soiled Malaysian Currency. Old banknotes may become soiled (dirty due to usage) or deteriorate which might cause the security feature of the notes not to be as effective as a brand new notes. Soiled banknotes can be exchanged or deposited at any commercial banks in Malaysia.
4. Mutilated Malaysian Currency. Mutilated or damaged banknotes can be exchanged for new currency at any Bank Negara Malaysia branch or branches of commercial banks and Islamic banks. Badly mutilated or damaged banknoted may need further examination and valuation before any amount is refunded. Mutilation cause might be fire, water, chemicals, explosives, animals, insect or rodent damage, or suffered as a result of being buried or decomposed. However, the decision to award compensation is at the discretion of Bank Negara Malaysia.
5. Reproduction of the Malaysian Currency. It is illegal to reproduce the Malaysian currency or to use any photograph, drawing or design of any note, coin or any part of the note or coin, of any size, scale or colour, in any advertising or on any merchandise or products, which are manufactured, sold, circulated or distributed except with the permission of Bank Negara Malaysia. A fine up to RM5,000 will be implied if convicted.
6. Counterfeit Malaysian Currency. Counterfeit banknotes or coins do not have any values and cannot be exchanged with new currency. If you suspect someone has given you counterfeit Malaysian currency:

• Delay the person (passer) who gives you the counterfeit banknote if possible and observe the passer’s description, as well as that of his/her companion if any, and the vehicle registration number used by them.
• Do not write on, cut or re-circulate (use) the counterfeit currency.
• Preserve the condition of the counterfeit currency by using envelope or plastic cover. Record the details about how you got the currency, who gave it to you, where and when you got it.
• Take the counterfeit currency to the nearest police station and surrender the counterfeit currency after lodging a police report.

This article was derived from The Malaysian Currency booklet by http://www.bankinginfo.com.my/. Log on to the website for more information about the Malaysian currency.

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