On national currency receiving by cash payment machines

19-04-2019

18 April 2019, Baku:  Recently the press, news portals and social networks have been spreading information on difficulties related to non-receiving of mutilated, rumpled, damaged, bruised, torn, holed and taped currency by cash payment machines (ATMs, cash-in, payment terminals etc.) in use across the country.

We would like to mention that, cash payment machines in use throughout the country are owned by credit institutions, the national operator of postal communication and NBCIs and the process of adaptation is maintained by the above institutions since they provide servicing of these machines.

When cash payment terminals are installed, they are adapted in terms of quality parameters of currency (non-counterfeit, -contaminated, -mutilated, -damaged, -torn, -holed, -taped). To avoid receiving of counterfeit and non-exchangeable currency by cash payment machines and minimize related risks, credit institutions, the national operator of postal communication and NBCIs that use such machines apply strict restrictions on receiving of currency that fail to meet relevant quality parameters.

According to the legislation, only an expertise may determine whether the currency that fail to meet quality parameters is exchangeable. The face value of the national currency, unfit for circulation, non-suspect (non-counterfeit), that preserve 60% its surface as one whole or that preserve 100% of the service consisting of several parts is paid. Citizens may appeal to the Central Bank and its regional offices accordingly under the legislation.