German central bank inundated with money damaged in floods
Germany’s central bank says it has been inundated with more than $59 million worth of damaged bank notes after deadly floods hit part of the country in July.
The Bundesbank said Wednesday that individuals and banks have handed in notes that were soaked in the floods and often also contaminated with oil, sewage or mud. The damaged money is dried, processed and then destroyed at a center in Mainz that analyzes forged and damaged money, and its owners are refunded without charge.
After they are dried, the damaged notes are flattened out, verified and counted. The Bundesbank said it bought dryers to deal with the influx of dirty money, noting that it’s important to process soaked notes quickly before they clump together and become as hard as concrete.
Germans still tend to use cash more than people in many other European countries.