If, after checking the security features with the feel, look and tilt method, you are sure that you have been given a counterfeit banknote:
- ask the customer to give you another banknote or use a different means of payment
- try to remember what the customer looks like
- once the customer has left, contact the police and provide as many details as possible to help identify them (physical description, vehicle used, presence of accomplices, etc.)
- ensure your safety at all times
If you only suspect that the banknote is fake (if it is badly damaged, for example), you can refuse it or accept it and take note of the customer’s identity.
If, after accepting the banknote, you realise that it is counterfeit, it is a criminal offence to put it back into circulation. Fake banknotes must be handed in to the Banque de France which will provide you with a receipt.
If you have doubts as to whether a banknote is genuine, you should hand it in to your bank or to the Banque de France, which will check its authenticity. If the banknote is genuine, it will be exchanged for another one free of charge; if it is false, it will be kept and you will be provided with a receipt, but it will not be exchanged for a genuine banknote.
Remember that the risk of coming across a counterfeit banknote is very low. It is estimated that only 1 in 20,000 banknotes in circulation is fake.
You can change €500, €200 and €100 banknotes for smaller denominations at your usual bank, or at certain Banque de France cash centres. Requests must be made in person at the counter. It is forbidden to send banknotes by post.
List of documents required:
- Proof of identity: The person depositing the banknote, and the beneficiary if different from the depositor, must provide valid proof of identity with a clearly visible photograph and ID number. The following are accepted as proof of identity:
- for French citizens: national ID card, passport, driving licence or veterans ID card, disabled ex-serviceperson card;
- for foreign nationals: national ID card or passport of your country, temporary residents permit, residents permit, domiciliation certificate in the case of asylum seekers, receipt showing you have submitted a request for a residents permit (provided it bears a photograph). All documents must be written in Latin alphabet and be accompanied by a certified translation;
- for legal entities: original or photocopy, no more than three months old, of the commercial register extract showing the name of the company, its legal form, the address of its head office and the identity of the partners and directors or their equivalent under foreign law. The person presenting the banknote(s) for exchange on behalf of the legal entity must be named on this document and provide proof of identity.
- for French citizens: national ID card, passport, driving licence or veterans ID card, disabled ex-serviceperson card;
- Full bank account details showing the IBAN number of the beneficiary of the exchange or of the reimbursement request. Details of a prepaid payment card will not be accepted.
- Proof of source of funds: a recent income tax statement, bank statement, certified letters confirming the withdrawal of the funds or any other official proof. These documents are not compulsory when exchanging banknotes at a branch of La Poste, but the Banque de France may request proof of source funds or other justifying documents at a later date due to its internal risk policy.
- (At Banque de France counters only) A cash declaration form provided by French customs (Cerfa No.13426) or a declaration made via internet with a registration number, for non-residents and for transactions of €10,000 or above.
Cash transactions must not exceed certain limits. In general, you can make cash payments of up to €1,000 to professionals. However, the following limits apply to specific transactions:
- €300 for cash payments to the French Treasury;
- €1,500 for the payment of wages or advances on wages in cash (over this amount, your employer must pay by crossed cheque or by transfer to a bank or postal account);
- €3,000 for cash payments made or received by notaries for notarial acts related to real estate transactions (over this amount, payment must be made by bank transfer);
- €15,000 for cash payments to professionals (instead of €1,000) if you are not a French tax resident
These limits do not apply:
- to individuals with no other means of payment or without a deposit account;
- to person-to-person payments. There are no limits on cash payments between individuals (for the purchase of a car or a painting for example), but it is useful and in some cases essential to obtain a written receipt for amounts over €1,500 as proof of payment.
The process of climate change is already having measurable negative economic impacts, including lower agricultural yields, a fall in the labour supply and weaker productivity growth. Firms and entire economies need to adapt and innovate to mitigate these adverse effects.
The transition to a low-carbon economy, underpinned in particular by transition policies and technological developments, can affect prices – especially energy prices – generating inflationary pressures and weighing on economic activity.
The fight against climate change is a key component of the Banque de France's strategic plan, Building 2024 Together. Five of the plan’s actions focus on preparing the institution for the physical and transition risks associated with climate change:
- Adapt monetary policy operations to climate risks
- Ensure the financial sector takes better account of climate risks
- Assess how to incorporate climate risk into our rating process
- Actively committo a target of carbon neutrality
- Aim for digital sobriety in all our digital uses
Sustainable finance covers all financial practices and regulations designed to promote the collective interest over the medium to long term. This collective interest is defined in particular by the 17 Sustainable Development Goals (SDGs) adopted by the United Nations. The different financial players can play a proactive role in ensuring that available capital is channelled more effectively towards activities and investments linked to these goals.
Being a "responsible investor" means factoring climate imperatives – and ESG (environmental, social and governance) imperatives more generally – into investment policy. Socially responsible investment (SRI) can be applied to a variety of investment products, including shares, bonds, current accounts, savings passbooks and structured bank deposits.
The Banque de France's commitment to responsible investing is reflected in the application of the double materiality principle to its own funds and pension liabilities portfolios. This factors in both the ESG performance of its investments, especially their environmental impact, and the climate risks that weigh on its portfolio assets.
Supervisors use climate stress tests to measure the resilience of banks or insurers to different transition or climate risk scenarios. These stress tests have a long time horizon of around 30 years, an international dimension as all countries are affected differently by climate risk, and a sectoral dimension as each sector will be positively or negatively affected by the energy transition.
The NGFS (Central Banks and Supervisors Network for Greening the Financial System) is a network that brings together over 120 central banks and supervisors to collectively address climate change challenges and guide the financial sector towards green finance.
Drawing on the work of the NGFS, the Banque de France and the ACPR develop climate transition scenarios used in forward-looking climate risk monitoring exercises (stress tests) for the financial sector.