SEK 1.3 billion left - 31 August last day to deposit invalid banknotes in bank accounts

Date 25/08/2016

There are 41 million banknotes to a value of SEK 1.3 billion, consisting of the older 20, 50 and
1,000-krona notes.

The figures in the table have been rounded off.

"If you still have these banknotes at home, it is time to go down to the bank and depos-it them in an account. The banks will accept these notes until 31 August," says Christi-na Wejshammar, Head of the Cash and Payment Systems Department.

After 31 August, the Riksbank can redeem the invalid banknotes for an administration fee of SEK 100. To redeem the banknotes at the Riksbank, you must send them in by post. The banks and the Riksbank apply the provisions of the money laundering act, which means that you may be asked questions as to where the money comes from. You may also have to present copies of receipts, agreements or invoices.

Next step in the banknote and coin changeover

In October, the new 100-krona and 500-krona banknotes, together with new 1, 2 and 5-krona coins will be introduced. The older versions will become invalid after 30 June 2017.

It is a good idea to use the older coins in your possession now. In total, around 1.6 bil-lion coins, worth SEK 2.6 billion, will become invalid after 30 June 2017. If a lot of peo-ple wait until next spring to use their older coins, banks and retailers may find it difficult to accept them all and you risk being unable to redeem them in time.

Further information on the banknote and coin changeover can be found on the Riksbank's website, www.riksbank.se, under the heading Notes & coins.