Issuer of Banknotes and Coins

Can I be reimbursed for a counterfeit banknote?

The Central Bank of The Bahamas has the sole right and authority to issue banknotes and coins, and as such is obligated to the holders of Bahamian banknotes and coins to honour payment in the respective amounts. Central Bank issued banknotes are the sole legal tender of The Bahamas in accordance with the Cental Bank of The Bahamas Act, 2000. Accordingly, the Central Bank of The Bahamas has no legal obligation to honour counterfeit money. Moreover, since the Bank really has no way of determining whether someone has received a counterfeit banknote by accident, or instead has purposefully attempted to defraud the banking system, holders of counterfeit currency are not reimbursed.

  1. Where are Bahamian banknotes and coins printed and minted?
  2. How is currency placed into circulation?
  3. What are the factors influencing the volume of banknotes in circulation?
  4. Can I reproduce a banknote for advertising or information purposes?
  5. Does the Bank still issue the $1/2 and $3 banknotes and the 15-cent coin?
  6. What should I do if I have a counterfeit banknote or suspect a banknote to be counterfeit?
  7. Can I be reimbursed for a counterfeit banknote?
  8. Are torn banknotes legal tender and, in addition to multilated banknotes, are they redeemable? If so, what should I do?

Available FAQs