Guidelines for processing applications for compensation for lost, burnt or damaged notes and coins
Issued pursuant to Section 5 of Regulation No. 293 of 16 March 2011.
- Compensation may be paid for lost, burnt or damaged notes and coins that Norges Bank is obliged to redeem.
- Before applying for compensation for notes that are not whole pursuant to Section 3 of the Regulation, it should be determined first whether compensation can take place at the customer’s bank. Portions of notes shall not be reassembled (glued or stapled together).
- A substantiated application for compensation pursuant to Section 2 and Section 4 of the Regulation shall be submitted on a special form. The application shall contain the following information:
- Personal data (name, address and telephone number)
- Bank account number
- Photocopy of valid identification shall be enclosed for amounts above NOK 10,000
- A photocopy of the police report/insurance claim form, if any
- Amount of compensation applied for
- Manner in which the notes or coins were damaged
- Description of the course of events leading to the damage or loss
- For applications for compensation involving fewer than 100 damaged notes or coins, the notes and/or coins shall be delivered along with the application and be sorted by denomination and series.
- For applications for compensation involving 100 or more damaged notes or coins (regardless of denomination/series), the notes and/or coins shall not be delivered along with the application. In such cases, special arrangements must be made with Norges Bank concerning the delivery date and requirements for sorting and packing the notes and/or coins.
- Notes that are torn or cut shall not be glued together or repaired in any other manner. Such repairs may compromise Norges Bank’s ability to examine the notes and coins, with the consequence that compensation cannot be paid.
- If on the basis of their appearance or other circumstances Norges Bank may have reason to suspect that the notes and/or coins are connected with a criminal act, Norges Bank will take the actions specified by the Money Laundering Act.
- Norges Bank will process the application and either grant the application or reject it.
- Compensation will not be paid in the following instances:
- If Norges Bank cannot determine with certainty that notes and/or coins are genuine,
- Applications for notes and/or coins that have been damaged, including dyed or chemically treated, in a grossly negligent or deliberate manner, for example in connection with commercial waste disposal,
- If Norges Bank has reason to suspect that the damaged notes and/or coins are connected with criminal acts.
- Norges Bank’s decisions in compensation cases are administrative decisions that may be appealed against pursuant to the Public Administration Act.
- In the event an application is granted pursuant to Section 2 or Section 4 of the Regulation, a processing fee will normally be charged, currently NOK 250, to be deducted from the amount of compensation (except for cases involving smaller amounts). For processing particularly resource-intensive cases Norges Bank may charge a fee that covers its actual expenses.
- Notes and/or coins that have been delivered shall be retained by Norges Bank and, once compensation has been granted, destroyed.
- In the event of rejection, the applicant may request the return of notes and/or coins. In such cases the applicant must make arrangements with Norges Bank to retrieve the notes and/or coins and defray any expenses incurred by the Bank in this regard. This does not apply if there is reason to suspect that notes and/or coins are counterfeit, have been manipulated or are connected with another criminal act. Such cases will normally be reported pursuant to the provisions of the Money Laundering Act.
An application for compensation pursuant to Section 2 or Section 4 of the Regulation shall be sent to Norges Bank. The application may also be delivered in person to the reception at the Bank’s head office in Oslo.
P.O. Box 1719 Sentrum
0107 Oslo, Norway
Bankplassen 2, 0151 Oslo, Norway