Riksbank will stop redeeming invalid banknotes after 1 July 2027

• Riksbank sets a final date for redeeming invalid Swedish banknotes.
• Applications must be submitted by 30 June 2027.
• The central bank estimates about SEK 3.9 billion in invalid banknotes remain unredeemed.
• Approved redemptions cost 300 kronor.

Action

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

Riksbank will stop redeeming invalid banknotes after 1 July 2027

The central bank said it is setting a final date for redemption after the major banknote and coin changeover, and said the public has had ample opportunity to hand in old notes.

It also said that after ten years it becomes difficult to obtain the documentation needed to approve an application.

Respondents

The measure applies to invalid Swedish banknotes. Riksbank said it estimates there are still about SEK 3.9 billion of such notes that have not been redeemed.

Effective

Riksbank must receive redemption applications by 30 June 2027 at the latest.

Applications can be submitted online at riksbank.se, or by printing and completing an application form. Supporting documentation showing where the money comes from must be attached.

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

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

It costs 300 kronor to redeem invalid banknotes if the application is approved.