Riksbank ends redemption of invalid banknotes after 1 July 2027

• Redemption of invalid banknotes ends on 1 July 2027.
• Applications must be received by 30 June 2027.
• The fee to redeem approved invalid banknotes is 300 kronor.
• The Riksbank estimates about SEK 3.9 billion in invalid banknotes remain unredeemed.

Action

The Riksbank will no longer redeem banknotes that have been invalid for more than ten years from 1 July 2027.

Riksbank ends redemption of invalid banknotes after 1 July 2027

The central bank said it is setting a final date after the major banknote and coin changeover.

It said the public has had ample time to hand in old, invalid banknotes. It also cited cost reasons.

Respondents

The Riksbank said applications for redemption must be submitted to it by 30 June 2027 at the latest.

Applications can be made online or on a printed form. Supporting documentation showing where the money comes from must be attached.

The banknotes must be sent to the Riksbank. If a form is used, it should be sent with the banknotes.

Effective

The redemption option ends on 1 July 2027. The application deadline is 30 June 2027.

The Riksbank said each application is assessed case by case. If approved, the money will be paid into a bank account or giro account.

Penalty

The Riksbank said it costs 300 kronor to redeem invalid banknotes if the application is approved.

It estimated that invalid banknotes worth approximately SEK 3.9 billion remain unredeemed.