What is considered legal tender?
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Under the Singapore Currency Act, mutilated notes command no value. However, MAS may, out of goodwill, award value to mutilated notes provided there is no evidence suggesting that they have been deliberately mutilated. You can take your torn or mutilated (damaged) notes to any commercial bank in Singapore where you have a bank account. The bank will authenticate and assess the note before award value according to the Monetary Authority of Singapore's guidelines.
If the bank has assessed that your torn or mutilated (damaged) notes are genuine and were not wilfully or deliberately damaged, the assessed value will be credited directly into your bank account. If the bank is unable to assess the value, the mutilated (damaged) note will be sent to MAS for assessment. After MAS has assessed value, the bank will credit the assessed value to your bank account.
Please let us know details of the bank and name of the counter staff via the online feedback form, if the bank is not willing to accept the notes for assessment.
Under the Singapore Currency Act, mutilated coins command no value. However, MAS may, out of goodwill, award value to mutilated coins provided there is no evidence suggesting that they have been deliberately mutilated. You can take your mutilated (damaged) coins to any commercial bank in Singapore where you have a bank account or deposit them at MAS' appointed Circulation Coin Operator and Manager (CCOM), Certis CISCO Secure Logistics Pte Ltd (CSL) . The bank or CSL will assess and award value according to the Monetary Authority of Singapore's guidelines. If the bank or CSL has assessed that your damaged coins are genuine and were not wilfully or deliberately damaged, the assessed value will be credited directly into your bank account. If the bank is unable to assess the value, the mutilated coins will be sent to CSL for assessment. After CSL has assessed value, the assessed value will be credited to your bank account.
All currency notes and coins issued by the Monetary Authority of Singapore since 1967 are still legal tender and can be used to pay for goods and services in Singapore. Alternatively, you can redeem past series notes and coins over the counter at a commercial bank in Singapore where you have a bank account. You may also deposit past series coins at MAS' appointed Circulation Coins Operator and Manager (CCOM), Certis CISCO Secure Logistics Pte Ltd (CSL) via their self-service coin deposit machines or over the counter. The bank or CSL will verify the authenticity of your currency before crediting the value into your bank account.
Each Singapore note and coin has various advanced security features to minimise the risk of counterfeiting. It is important for you to be aware of these security features to distinguish between genuine and counterfeit currency.
Refer to the following to find out more about the full range of security features of Singapore currency, and ways you can identify if your currency is genuine:
Security Features of Singapore Paper Notes Security Features of Singapore Polymer Notes Security Features of Singapore Coins
Monetary Authority of Singapore (MAS) does not sell or issue to, or exchange new notes or coins with, the public. If you wish to have brand new notes or coins, contact a commercial bank in Singapore directly to check if they have any stock available.
The new notes you received may not be arranged in sequence according to their serial number due to the following reasons:
The inspection and packing process is adopted for the printing of all Singapore notes.
You must seek approval from Monetary Authority of Singapore (MAS) if you wish to import, manufacture, sell, circulate or distribute any merchandise or product containing a reproduction, design, or any part of it, used in or on any currency note or coin and conditions as defined in Using Images of Singapore Currency.
Yes, you must adhere to the conditions for reproduction of currency notes or coins set out in Currency Act Gazette Notification No. 2078 of 11 August 2006 when using images of Singapore currency.
Permission from MAS is required to reproduce any Singapore currency notes or coins, except for certain permissible scenarios. Find out more on how you can use images of Singapore currency.