How to deal with old, invalid banknotes? Although trade and regular banks are no longer receiving them, there is hope. Here we explain how you go about exchanging old banknotes for valid money.
Old banknotes are invalid
Old 20-, 50-, 100-, 500- and 1,000-krone banknotes became invalid on June 30, 2016. You can see how these banknotes look on the Goodbank’s website.
These banknotes can no longer be used in trade. Nor can they be redeemed at a regular bank.
The purpose of switching to new banknotes is to add new security details that make them more difficult to counterfeit. In addition, banknote exchange complicates the circulation of black money in society.
The Goodbank exchanges your invalid banknotes
The Goodbank redeems invalid banknotes, no matter how old they are, for a fee of SEK 100.
To redeem banknotes, you must apply, either via a web form or a form that you download. Then the money should be sent by post to the Goodbank.
Like all other banks, the Goodbank is subject to the Money Laundering Act. It must therefore find out where the money originally came from. Therefore, you must be able to show receipts or bank statements, for example. If you cannot reliably explain where the money comes from, you risk being confiscated.
Information, web forms, forms and more can be found on the Goodbank’s page for redemption of invalid banknotes.
Old coins are invalid
The Goodbank, on the other hand, does not redeem old coins, which are therefore worthless. In 2017, the old 1-, 2- and 5-kroner became invalid. You can see how these coins look on the Goodbank’s website on invalid coins.
The Goodbank also does not redeem foreign banknotes.
An electronic currency, an eKrona, is currently being investigated as a supplement to cash.