March 24, 2016 – After 30 June 2016, it will no longer be possible to pay using the old 20-, 50- and 1,000-krona banknotes in Sweden according to Sveriges Riksbank. In total, this means 74 million banknotes to a value of around SEK 4.3 billion will become invalid. If you put the banknotes end to end, they cover a distance of 9,000 km, the same length as 100 Vasalopp ski races and almost once around the moon.
“If you have a lot of banknotes at home, it is important that you make plans now for when they become invalid,” says Christina Wejshammar, head of the Cash and Payment Systems Department.
The easiest thing is to pay with them or deposit them into a bank account. Contact your bank to find out how. If you still have banknotes after 30 June 2016, you can deposit them into a bank account until 31 August 2016.
In October this year, the new 100 and 500-krona banknotes will be introduced, together with the new coins: 1, 2 and 5-krona coins. The older versions will become invalid after 30 June 2017.
“In total, around 1.7 billion coins, worth SEK 2.7 billion, will become invalid. They weigh more than 12,000 tonnes, and if you lay them end to end they would reach all the way around the world. If you have amassed a lot of coins, it is a good idea to start using them now, because if everyone waits until summer 2017, it will be difficult for the shops and banks to take care of all the coins,” says Christina Wejshammar.
We reported on the new banknotes and coins.