How to exchange old dollars. Answers to the main questions

Russian banks have started to introduce a commission for the purchase of new dollars and refuse to accept old ones issued before 2013. Because of this, Russian travelers are faced with difficulties abroad, when a new type of currency is required for exchange. Why there are difficulties with using outdated dollars is in the Izvestia article.

Does dollars have an expiration date

• As such, there is no such thing as an "expiration date" for dollar bills. All Federal Reserve money issued after 1914 is a legal means of payment. They 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 there is no doubt about their authenticity.

• In themselves USA there is no difference between new and old banknotes as a means of payment. However, any legal banknotes are required to be accepted only by government agencies. Private organizations decide for themselves whether to accept old banknotes if regulations are not established at the state level.

• There are many operations that need to be performed with damaged bills — checking, packaging, describing, and sending to the issuing bank. All expenses are paid by the Russian side. Therefore, a commission may be charged for exchanging a torn banknote for a new one.

What is the difference between old dollars

• A sign that the bill is old is the image of the politician on it in a small format, placed in an oval. The exception is the one-dollar bill, the design of which has not changed. On the new banknotes, the faces are shown in close-up and occupy a quarter of the banknote's space.

• Contrary to the established stereotype, new banknotes are not always green. For example, the background of $10 is made in pastel orange and yellow shades, the background of $20 is green with peach, and $50 is red and blue. The $100 bill has a wide blue protective thread in the center with an orange inkwell, embossed when probed.

What to do on the eve of a vacation

• Back in 2024, Russians faced massive problems accepting old-style cash dollars in both domestic and foreign banks and currency exchange offices. The Association of Russian Tour Operators advised tourists when traveling abroad to buy new dollars or another currency that is accepted in the destination country.

• New banknotes, in particular, may be required in the UAE and Turkey. In some Southeast Asian countries, old dollars can be exchanged at a large discount. At the end of 2024, Nikita Kondratiev, director of the Department of Multilateral Economic Cooperation and Special Projects at the Ministry of Economic Development of the Russian Federation, noted that a similar problem exists all over the world, including in Russia.

• A number of Russian banks have begun to introduce fees for the purchase of new banknotes. There are cases when the client had to pay an additional commission in the amount of 200 rubles for the exchange of rubles for 100 dollars issued after 2013. However, when buying dollars issued before 2013, no additional fees are usually charged.

• Most Russian credit institutions do not set fees for exchanging rubles for dollars, depending on the year of their issue. However, new-style banknotes are quite rare in them. The availability of the necessary banknotes can be checked only by contacting the cashier directly.

What are the exchange rules in Russia

• Russian banks are required to carry out transactions for the purchase and sale of foreign currency in cash. Exchange offices operating with them are required to accept old-style dollars if they do not have significant damage, such as tears, traces of oil or gluing.

• Every financial institution in Russia has the right to set its own criteria for assessing the degree of depreciation of foreign currency notes. However, these rules should not contradict the current legislation and infringe on the rights of consumers. The Russian authorities and the Central Bank cannot exert additional influence on banks on the issue of accepting old dollars. All possible risks in this case fall on the owners of the currency.

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What to do if they do not accept money

•If the bank refuses to accept old dollars, you can request a written explanation from them or discuss this issue with the branch management. Another option is to send a complaint to the reception of the Central Bank, Rospotrebnadzor, or to the court.

• If possible, it's worth waiting a bit to get rid of the old dollars. In the event of a reset in relations between Russia and the United States, it will probably be possible to receive new banknotes from the issuing country in sufficient volume. Now, banks don't have many opportunities to buy new banknotes or get rid of old ones, while old banknotes are easier to counterfeit, and banks don't want to risk their turnover.

While preparing the material, Izvestia interviewed:

• economist Alexey Rodin;
• Director of the Higher School of Finance at Plekhanov Russian University of Economics, Doctor of Economics Konstantin Ordov