Regulatory News
Riksbank ends redemption of invalid banknotes on 1 July 2027
Riksbank will stop redeeming Swedish banknotes invalid for more than ten years from 1 July 2027, with applications due by 30 June 2027.
- Applications for redemption must reach the Riksbank by 30 June 2027.
- The central bank will no longer redeem banknotes invalid for more than ten years from 1 July 2027.
- Riksbank estimates about SEK 3.9 billion in invalid banknotes remain unredeemed.
Action
Riksbank will stop redeeming Swedish banknotes that have been invalid for more than ten years from 1 July 2027. It said the final date is now reasonable after the major banknote and coin changeover.
The central bank said the public has had ample opportunity to identify and hand in the old notes. It also said documentation becomes difficult to obtain after ten years, including bank statements, and that a time limit is justified for cost reasons.
Respondents
The policy affects holders of invalid Swedish banknotes who want to apply for redemption. Riksbank said each application will be assessed on a case-by-case basis.
Effective
Riksbank must receive redemption applications by 30 June 2027 at the latest. The bank said applicants should submit supporting documentation showing where the money comes from.
Applications can be submitted online at riksbank.se, or by printing and completing an application form. Invalid banknotes should be sent to the Riksbank, and forms should be enclosed if used.
Penalty
Riksbank said it costs 300 kronor to redeem invalid banknotes if the application is approved.
The central bank estimated that invalid banknotes worth approximately SEK 3.9 billion remain unredeemed.
Source: Riksbank,