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The exchanging of forint coins difficult to identify or damaged coins with credit institutions and post offices

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Credit institutions and post offices are required to exchange coins difficult to identify and damaged coins through the service of the conversion of cash into other denominations. However, they are obliged to accept up to 50 coins at a time for conversion. Optionally, a fee of up to 10 percent of the face value of the forint coins to be converted may be charged for the service of exchanging between denominations.

Cashiers of credit institutions and post offices shall not immediately exchange the forint coins difficult to identify or damaged unless the denomination, genuineness and quantity of the coins to be converted can be determined without doubt on the spot.

If the convertibility of the forint coin difficult to identify or damaged cannot be established on the spot without doubt, the cashier shall issue an acknowledgement of receipt, protocol or other document certifying receipt of the coin in question with a view to forwarding it to expert examination by the MNB.

At the MNB, the submitted coin shall be examined by an expert committee. The findings of the expert committee, listed below, shall result in the following actions:

  • If the expert committee finds that the forint coin difficult to identify or damaged is convertible, the MNB shall transfer its countervalue to the forwarding credit institution or the Post Office, which shall pay out the countervalue to the customer.

If the expert committee finds that the forint coin difficult to identify or damaged is not convertible, the MNB shall notify the forwarding credit institution or the Post Office, which shall forward the notification to the customer.