ČSOB fined for refusing to accept damaged banknotes

The Czech National Bank has fined ČSOB bank for refusing to accept or exchange damaged notes, iDnes.cz reported. The CZK 300,000 fine comes three years after the central bank ordered ČSOB to take in damaged notes following complaints from customers of Česká pošta post offices, which with ČSOB cooperates. The Czech National Bank sent staff to attempt to use damaged notes at branches of Česká pošta, which runs ČSOB’s Era and Poštovní spořitelna accounts, and around a third were rejected.

Author: Ian Willoughby