Twelve million 1,000-krona notes become invalid at year-end

After 31 December 2013, the older 50-krona and 1,000-krona banknotes without a foil strip will become invalid. There are currently twelve million 1,000-krona banknotes and almost four million 50-krona banknotes in the older versions. If you have 50-krona and 1,000-krona banknotes without a foil strip it is time to use them now.

"I would encourage everyone to check now whether they have any 50-krona or 1,000-krona notes without a foil strip. After this year you won't be able to use them to pay, so make sure you use them now or pay them into a bank account," advises Christina Wejshammar, divisional head at the Riksbank.

There are currently two versions of the 50 and 1,000-krona banknotes. It is the older versions, which lack a foil strip, that will become invalid after 31 December 2013. The newer versions, with a foil strip, will remain valid.

What to do with the banknotes that are becoming invalid

There are two ways of getting rid of the older banknotes before they become invalid; either you can use them to pay with now, or you can deposit them in a bank account.

"We cooperate with the banks and retail trade and we will keep the general public informed in various ways. It is important to pass on the information so that everyone is aware that these banknotes will become invalid after the end of this year," says Christina Wejshammar.

The withdrawal of the 50-krona and 1,000-krona banknotes without a foil strip is a preliminary step to the renewal of the entire banknote and coin series that will start in 2015. The renewal will take place in stages. It is aimed at making it more difficult to counterfeit banknotes and making it cheaper and easier to handle coins. The 10-krona coin is the only one that will remain unchanged.

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