Old banknotes become worthless after May 31 deadline
Danmarks Nationalbank has announced that 1000-krone and older-series banknotes will become worthless after May 31, 2026. Citizens have six weeks left to exchange them at designated points.
Final call for old banknotes
Danmarks Nationalbank is urging citizens to exchange their 1000-krone and older-series banknotes before the May 31, 2026 deadline, after which they will lose all value.
Niels Kaas, Chief Cashier, emphasized the importance of public awareness, stating, "Now is the last chance.
It's only six weeks until 1000-krone and older-series banknotes become worthless.
" This final push aims to ensure that the remaining kr.
3.3 billion worth of invalid banknotes are exchanged.
Since November 30, 2023, a total of kr.
21.1 billion in old banknotes has been exchanged, with 9,257 transactions totaling kr.
46 million occurring since the beginning of this year.
The central bank encourages early exchange to avoid last-minute rushes at the designated exchange points.
Two years in the making
The phasing-out of the 1000-krone banknote and older series (1944, 1952, 1972, 1997) was announced over two years ago.
These notes ceased to be legal tender in shops on May 31, 2025, allowing a year for exchange.
After May 31, 2026, only the current 2009 series will be valid in Denmark and Greenland.
Exchanges occur at three FOREX bureaus in Aarhus, Odense, and Copenhagen.
Requirements include a written declaration, valid photo ID, and physical presence.
Greenland and Faroe Islands residents can also use local banks until the deadline.
A necessary, if belated, cleanup
The phasing out of old banknotes marks a necessary modernization of Denmark's cash system, streamlining currency for future use.
While the long transition period aimed for broad public awareness, the remaining 3.3 billion kroner suggests a significant portion of the public remains disengaged or unaware.
This final deadline underscores the persistent challenge central banks face in managing the transition away from physical cash for all segments of society.