Acceptance as a means of payment
The banknotes in circulation in the Republic of Mozambique concern the 2006, 2011 and 2017 Series of the third batch of the Metical, issued by Notices No. 03/GBM/2006, of June 16, Notice No. 03/GBM/2011, of July 22 and Notice No. 15/GBM/2017, of June 16, respectively. The banknotes will circulate concurrently with the 2006 series coins issued by the above-mentioned Notice No. 03/GBM/2006.
For payments or commercial transactions, only Metical banknotes and coins that meet the standards above shall be accepted.
How to check the authenticity of a Metical banknote?
Metical banknotes boast sophisticated security features that are easy to identify and hard to replicate. This makes the banknotes safe so that the public can use them confidently when conducting transactions.
In addition, when receiving a Metical banknote, one should develop the habit of checking if it is, in fact, authentic, according to the Feel-Look-Tilt methodology, in order to avoid the risk of losing money, if it is proven that the banknote is false.
To this end, always try to first use an authentic banknote, and use it to compare it with the banknote you have just received. Look for differences and never similarities, by checking for the several security elements.
If doubts persist with regards to the authenticity of the received banknote, it should be taken to the Banco de Moçambique or any commercial bank for clarification.
METICAL BANKNOTE AUTHENTICITY SCREENING USING THE FEEL-LOOK-TILT METHODOLOGY
The Feel-Look-Tilt methodology, consist of three steps:
Feel the banknote in order to find the embossed print (some roughness when passing the thumb gently), in the following places or elements of the banknote:
- In the inscription "BANCO DE MOÇAMBIQUE” (1)
- In the image of President Samora Moisés Machel (2)
- In the signs for visually impaired people (tactile marks) (3)
Look at the banknote against a light source so as to screen the banknote colors, as well as the presence of the following elements:
- Watermark and shaded image, depending on whether it is a paper or polymer banknote (1)
- Security thread for paper banknotes: MZN 200.00, MZN 500.00 and MZN 1000.00. (2)
Tilt the banknote at various angles so as to screen for the presence of the following features:
- Iridescent band (on the back of all Metical banknotes): it is golden, and boasts the logo of the Banco de Moçambique and the banknote's denomination
- OVI - Optical Variable Ink - changing or dynamic colors in MZN 200 and MZN 500 banknotes within the logo of the Banco de Moçambique. The MZN 1000 banknote also boasts an oval-shaped seal.
VALUATION CRITERIA FOR MUTILATED METICAL BANKNOTES
The valuation criteria for mutilated banknotes are laid down in Article 8 of Notice No. 2/GBM/2020, of April 23 (see evaluation criteria poster).
Valuation criteria poster
- Mutilated notes have full value when presented in the following conditions:
- Continuous and whole intact surface not less than two-thirds of the banknote, or if the fragments make up the total surface of the banknote;
- Shrunk and whole, in the case of polymer banknotes, provided that they have at least one element of safety.
- Mutilated banknotes have half value when presented in the following conditions:
- Intact and continuous surface or in fragments making up at least half the surface of the banknote;
- Shrunk, in the case of polymer banknotes, provided that they have at least one element of safety.
Exchanging Metical Banknotes and Coins
Commercial banks are allowed to exchange banknotes and coins at the request of their customers and the general public in the following cases:
1st case: To provide change, that is, exchanging banknotes and/or coins of a greater face value for banknotes and/or coins of lower face value;
2nd case: To replace banknotes that have been mutilated or damaged during circulation, that is, exchange banknotes unsuitable for circulation, with banknotes and/or coins suitable for circulation.