Banknote redemption fee rises to SEK 300
The Riksbank will increase the administration fee for redeeming invalid banknotes from SEK 200 to SEK 300 per application. This change takes effect on 1 September 2026.
The rising cost of old notes
The Riksbank has announced an increase in the administration fee for redeeming invalid banknotes, effective from 1 September 2026.
The current fee of SEK 200 per application will be raised to SEK 300. This adjustment, a 50 percent increase, is being implemented to ensure that the administrative costs associated with handling these redemption cases are fully covered.
The central bank highlights that since the banknote and coin changeover conducted between 2015 and 2017, a significant sum of SEK 3.9 billion in invalid banknotes has not yet been redeemed.
The public is therefore urged to redeem any old banknotes before the new fee structure takes effect.
This provides an opportunity to exchange these notes under the existing, lower fee.
Comprehensive details on identifying invalid banknotes and the necessary steps for their redemption are available on the Riksbank's official page dedicated to 'Redeeming invalid banknotes'.
A decade limit on redemption
Beyond the immediate fee increase, the Riksbank has also launched a consultation on a future policy adjustment concerning invalid banknotes.
The central bank has proposed to discontinue the redemption of banknotes that have been out of circulation for more than 10 years.
This measure, if implemented, would take effect in 2027.
The consultation seeks input on this proposal, which aims to manage the long-term administrative efforts required for very old invalid notes.
This move signals a potential shift in the Riksbank's approach to managing its historical currency liabilities.
Further information on the specifics of this proposal is available for review, allowing stakeholders to understand its implications and provide feedback.
Streamlining currency liabilities
This Riksbank announcement, though administrative, signals a clear intent to streamline its currency management.
The fee hike addresses immediate operational costs, but the proposed 10-year redemption limit for invalid notes points to a more definitive long-term strategy.
For the public, this underscores the diminishing window for converting old banknotes, making prompt action crucial.