Which US dollar notes will not be accepted in Ukraine in 2026: exchange rules

The NBU’s guidance, as well as that of banks and currency exchange regulations, covers the rules for exchanging US dollars, old banknotes, damaged notes and the collection procedure.

In Ukraine in 2026, not all dollar notes can be exchanged without difficulty at a bank or currency exchange point.

Questions most often arise regarding heavily damaged banknotes, old $100 notes without the blue security strip, rare denominations, and notes that are difficult to verify quickly for authenticity.

Under NBU rules, financial institutions must not refuse to exchange valid US dollars solely on the basis of the year of issue or denomination, provided the banknote is genuine and has no significant damage.

However, in practice, exchange offices may be more cautious, particularly with old $100 notes or notes with visible defects.

Which dollars may not be accepted

Dollars with significant damage are considered problematic.

This refers to notes with large tears, cuts, stains, traces of paint or ink, burnt edges, holes, severe wear and tear, or missing parts of the note.

According to the criteria set out in this article, tears over 3 mm, more than three stains with a diameter of over 5 mm, inscriptions or stamps covering an area of over 200 square millimetres, and the loss of more than 25% of the banknote’s surface area may be considered significant.

Such dollars are not usually exchanged immediately at the standard rate. They may be accepted for collection.

What about old $100 notes

A separate category consists of old $100 notes from 1996, 2003 or 2006.

In Ukraine, they are often called ‘white hundreds’ because they lack the blue 3D strip found on newer notes.

Despite this, such dollars remain valid. The year of issue alone is not grounds for refusing to exchange them.

If the note is genuine, intact and has no significant damage, the bank must accept it under standard rules.

Problems are more likely to arise at small exchange bureaux. There, older series may be checked more strictly, sent for collection, or offered at a less favourable exchange rate.

What is collection

Collection is a procedure for problematic or severely damaged banknotes.

The bank accepts such a note, records its condition and sends it for verification. If the note is recognised as genuine, the customer is refunded the equivalent amount.

But this is not a quick exchange. The procedure can take anywhere from a few weeks to several months.

According to the source, the collection fee can be approximately 1–5% of the amount, depending on the bank, the condition of the note and the terms of service.

Which denominations may raise questions

Standard US dollar notes in denominations of 20, 50 and 100 dollars are usually exchanged without any problems, provided they are genuine and undamaged.

However, rare high-denomination notes – $500, $1,000 and above – are hardly ever in circulation in Ukraine.

Formally, some of these banknotes may remain valid, but banks and exchange offices often do not handle them as part of their standard operations.

Such notes may be sent for collection or treated as collector’s items.

Banks and exchange offices do not usually accept dollar coins for standard currency exchange.

What to do if your exchange request is refused

If a bank refuses to accept a genuine dollar note solely because of the year of issue, the customer may lodge a complaint with the NBU.

Before exchanging, it is worth checking the condition of the notes yourself: the watermark, security thread, print relief, paper, and the presence of stains, tears, inscriptions or foreign marks.

If the note is old but intact and genuine, it is better to go to a major bank rather than a random exchange bureau.

How to store dollars

To avoid problems when exchanging, it is best to keep dollars in an envelope, a separate folder or a file.

You should not carry banknotes together with keys, coins or documents that could damage them.

It is also inadvisable to fold banknotes, get them wet, leave them in direct sunlight or write on them.

Even minor damage can lead to additional checks. Significant defects may result in the note being classified as unfit for circulation.

As reported by ThePublic, inflation in Ukraine has accelerated to 8.6% amid rising fuel and logistics costs.

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