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

There are still banknotes to a value of SEK 1.3 billion in circulation that became invalid after 30 June this year. Until Wednesday 31 August, you can still deposit these notes in a bank account.

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

Denomination Millions SEK million
20 36 720
50 5 260
1,000 0.3 337
TOTAL 41.3 1,317

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 deposit them in an account. The banks will accept these notes until 31 August,” says Christina 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 billion coins, worth SEK 2.6 billion, will become invalid after 30 June 2017. If a lot of people 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.

Press office tel. 46 8 787 0200

About Us

The Riksbank is Sweden's central bank and an authority under the Riksdag, the Swedish parliament. The Riksbank is responsible for monetary policy with the objective to maintain price stability. The bank has also been given the task to promote a safe and efficient payment system.