Swedish public is aware – but are they ready to act?

Date 17/03/2016

There is a very high awareness that Sweden is to get new banknotes and coins, although many people are uncertain over the exact date when banknotes and coins will become invalid. This is the result of a Riksbank-commissioned survey of the general public and employees within banking and the retail trade. But there are many of the older banknotes still in circulation.

The survey shows that awareness of the new banknotes and coins is at a level of between 92 and 99 per cent, with the highest levels among bank and retail trade employees.

20-, 50- and 1,000-krona banknotes become invalid after 30 June 2016

Many know that the older versions of the 20-, 50- and 1,000-krona banknotes will become invalid, but not as many know when they will become invalid. 43% of the general public, 64% of bank employees and 65% of retail trade employees know that the banknotes will become invalid during 2016, but not exactly when.

"In February, there were 4.3 billion soon-to-be invalid banknotes still in circulation. To get an idea of how many this is, imagine that they would almost reach all the way to the moon and back if you lay them end to end. We are therefore continuing to provide information about the changeover, with extra focus on the three banknotes that will become invalid after 30 June this year," says Ann-Leena Mikiver, Director of Communications at the Riksbank.

Pay with the old banknotes and coins

The easiest way to get rid of banknotes and coins that will soon become invalid is to use them to pay for things. You can also deposit them in a bank account. If you still have 20-, 50- and 1,000-krona banknotes after 30 June 2016, the banks will accept them for a further two months, until 31 August 2016.

The old coins will not become invalid until after 30 June 2017, but there are a lot of coins that will become invalid on that date; 1.7 billion coins to a total value of SEK 2.7 billion. So it's a good idea to start getting rid of coins now especially if you have a lot of them saved up.

Facts:

If you put the banknotes that will become invalid on 30 June end to end, they cover a distance of 9,000 km, the same length as 100 Vasalopp ski races and almost once around the moon.

In total, around 1.7 billion coins, worth SEK 2.7 billion, will become invalid after 30 June 2017. These weigh more than 12,000 tonnes, and if you lay them end to end they would reach all the way around the world.

Contact info

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