Spain is suffering one of the worst summers ever due to wildfires. Thousands of people have lost their homes, their livestock and all their belongings. While the land has a long way to go to recover, many people are unsure of their next steps to overcome their financial losses.
The flames have devastated more than 400,000 hectares of land, and firefighters from across the European Union were called in to help extinguish blazes, as Spanish brigades were unable to cope with the multiplying outbreaks.
While insurance will be very important, Spanish Prime Minister Pedro Sánchez has declared all the burned areas as catastrophic. This means the State will be involved in the reconstruction and recovery of all the towns that were engulfed by fire and will offer aid.
Many families have lost physical money in the flames—banknotes that they had at home and could not save during the evacuations. The Banco de España has set our clear instructions on how to reclaim destroyed money.
How to recover your burnt banknotes and coins:
You must present the affected banknotes (burnt, stained, torn, soiled, etc.) at a branch of the Banco de España or at your own bank. There they will be inspected and exchanged for new banknotes of the same value, provided that the requirements are met.
“If your home has been affected by fire, don’t give up on your money. The Banco de España is analysing damaged banknotes or coins, and if they confirm they’re legitimate, you’ll get your money back. We’ll explain how to request an exchange,” the Banco de España wrote on social media platform, X.
General conditions for exchange:
- Collect the burnt remains, even if they are partial pieces of the banknotes or coins affected by the fire. You must provide more than 50% of the original surface area of the banknote to make it recognisable.
- Another option is to prove that the missing part has been destroyed (e.g. by fire).
- If the banknote is badly damaged and the damage is very serious, it will be assessed by qualified Banco de España staff to analyse it and determine whether it is eligible for reimbursement.
- It is also possible to exchange damaged coins (deformed, corroded, burnt), the process is the same: you must present them at Banco de España branches.
- If the burnt money (or whatever is left) has not been intentionally damaged, and does not come from anti-theft systems, it is very likely to recover its value.
Additional sources • Banco de España