No chance — which dollars and euros are confiscated immediately in exchange offices.

Ukrainians cannot bring all dollars or euros to the exchange office. Some foreign currencies will not be accepted due to their condition and appearance, and some banknotes will be confiscated altogether.

What currencies will not be accepted in exchange offices

The National Bank has obligated financial institutions to accept foreign banknotes of any year of issue, starting from 1914. Market participants are prohibited from setting restrictions on currency exchange, justifying their decisions by the age of issuance or design. Otherwise, subjects face penalties — heavy fines or immediate revocation of their licenses.

However, if a person brings counterfeit banknotes to the exchange office, the staff at the counter will immediately check the money for authenticity. If signs of counterfeiting are found, the cash will be confiscated and sent for examination to the National Bank. One can independently bring the currency to the bank and request a verification service.

'According to the results of such examinations, which are carried out free of charge, clients are reimbursed the corresponding amount of the national currency recognized as authentic and valid. Foreign banknotes recognized as authentic are returned to the initiator of the examination,'

In contrast, counterfeit notes are confiscated without compensation to the owner. Subsequently, the money is sent in accordance with the established procedure to the law enforcement authorities for investigation.

Which banknotes can be exchanged

If the exchange office refuses to accept cash due to severe wear, Ukrainians can request the cash collection service at the bank. This means that the money is transported to a foreign financial institution for exchange.

According to the Instruction on the organization of cash work by banks and the execution of payment operations by payment service providers in Ukraine No. 103, signs of damage include:

• tears into pieces;
• printing defects;
• removal of protective elements or designs;
• change of the original paper color;
• local contamination and stains;
• burns.

For the cash collection service, one will have to pay, and the commission is determined by the banks at their discretion. Typically, this is a certain percentage (7-10%) of the value of the transported foreign currency.

What else Ukrainians should know

As a reminder, the National Bank categorizes foreign banknotes into three types: severely damaged, authentic, and counterfeit. Such cash can be used in transactions, sent for cash collection, or sent for examination to the National Bank.

We have also written about which countries accept euros as payment. This currency is official in Austria, Belgium, Cyprus, Croatia, Estonia, Finland, France, Germany, Greece, and many other states. The list includes countries that are not part of the EU.

Ukrainians should remember that banks are obligated to accept foreign banknotes of any year of issue while adhering to the established rules. Upon discovering counterfeit banknotes, the cash is confiscated and sent for examination to the National Bank. Additionally, Ukrainians can use the cash collection service if the money is not accepted due to damage or wear according to the established criteria.