These guidelines are based on the Norwegian “Forskrift om erstatning for sterkt skadde eller bortkomne sedler og mynter” (Regulation relating to compensation for severely damaged or lost banknotes and coins), available (in Norwegian) on Lovdata.

Compensation may be granted for lost, burned, or damaged banknotes and coins which Norges Bank is obliged to redeem. The regulations apply to banknotes and coins that are so severely damaged that banks cannot deliver them to Norges Bank, cf. Regulation on the Limitation of Legal Tender.

A well-founded application for compensation pursuant to Sections 2 and 4 of the Regulation must be completed on a designated form and submitted to Norges Bank. You may also deliver your application in person at the reception of our main office in Oslo.

The form must specify:

• Personal information (name, address, and telephone number)
• Bank account number
• Amount of compensation applied for
• Description of the incident (how the notes/coins were damaged, nature and extent of the damage, etc.)

The following must be enclosed:

• Photocopy of valid identification shall be enclosed for amounts above NOK 1000
• A photocopy of the police report/insurance claim form, if any
• The money must be submitted together with the application and sorted by denomination and issue.

Banknotes that are torn or cut must not be glued back together or repaired in any other way. Such repairs may impair Norges Bank’s ability to examine the banknotes and coins, and consequently compensation may not be granted.

If the appearance of the banknotes or coins, or other circumstances gives reason to suspect that they are connected to a criminal act, Norges Bank will carry out the measures required by the provisions of the Anti-Money Laundering Act. Norges Bank reserves the right to request additional information pursuant to the Anti-Money Laundering Act or other applicable legislation.

Norges Bank processes the application and either approves or rejects it.

Norges Bank’s decisions in compensation cases are considered individual decisions and may be appealed in accordance with the Public Administration Act.

Compensation will not be granted in the following cases:

• If Norges Bank cannot reliably determine that the banknotes and coins are genuine,
• Applications for banknotes and coins that have been damaged, including colored or chemically treated, due to gross negligence or intent, e.g., through commercial waste management,
• If Norges Bank has reason to suspect that the damaged banknotes and coins are related to criminal acts,
• In cases requiring significant resources, Norges Bank may charge a fee covering actual costs.

Submitted banknotes and coins will be retained and destroyed by Norges Bank when compensation is granted.

If an application is rejected, the applicant may request that the banknotes and coins be returned. In such cases, the applicant must collect the money (by appointment) and cover any costs associated with this.