Riksbanken sets ten-year deadline for cashing in old banknotes
Riksbanken will limit the redemption of banknotes that became invalid in 2017 or earlier to a ten-year window, after which they can no longer be exchanged.
Riksbanken announced it will follow other Nordic countries by introducing a ten-year deadline for redeeming banknotes that were declared invalid in 2017 or earlier. The policy affects notes like the red 500-krona and the green-blue 100-krona bearing Carl von Linné. Christina Wejshammar, head of the bank’s payments division, advises citizens to check drawers and consult older family members for any hidden notes.
Submissions require proof of how the notes were obtained and why they were not used, as banks cannot provide account statements after ten years. A processing fee of 300 krona will be applied, higher than the earlier 200 krona charge. While the monetary value may be modest, some people keep old notes for nostalgic reasons.
Why it matters
The rule determines whether holders of obsolete Swedish cash can still claim any remaining value.
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