Old krona banknotes: Riksbank sets final exchange deadline of 30 June 2027

Anyone who still has old Swedish krona banknotes in a drawer needs to hurry: from 1 July 2027, Sweden’s central bank (Riksbank) will no longer redeem banknotes that have been invalid for more than ten years. Applications must reach the central bank by 30 June 2027 at the latest. The Riksbank announced this on 8 October 2026.

What the Riksbank has decided

Until now, invalid Swedish banknotes could be submitted to the Riksbank without any time limit, regardless of their age. That will soon end. According to the central bank, a ten-year limit will apply in future: notes that have been invalid for more than ten years will no longer be redeemed from 1 July 2027.

The Riksbank estimates that invalid banknotes worth around 3.9 billion kronor have not yet been redeemed. According to The Local, citing the TT news agency, the notes affected are those that became invalid in 2017 or earlier, including the old red 500-krona note and the 100-krona note bearing the portrait of Carl Linnaeus. With the ten-year limit, Sweden is bringing its rules into line with those of the other Nordic countries, according to the report.

Background: The big cash changeover

Between 2015 and 2017, Sweden gradually replaced its banknotes and some of its coins with a new series. The old notes then lost their status as legal tender and are no longer accepted in shops. As one reason for the new deadline, the Riksbank says that the required proof is difficult to obtain after ten years. It also points to the costs of the procedure.

How redemption works

The Riksbank describes the procedure in its announcement as follows:

• The application is made on riksbank.se, either digitally or using a printed form.
• Documents proving the origin of the money must be enclosed, for example a bank statement.
• The invalid notes are sent to the Riksbank. Anyone using the paper form encloses it.
• If the application is approved, the Riksbank transfers the amount to a bank account.

Each application is assessed individually, so payment is not guaranteed. If approved, a fee of 300 kronor is charged, according to the Riksbank. For small amounts, the effort may therefore hardly be worthwhile.

Christina Wejshammar, head of the Riksbank’s Payments Department, advised people, according to The Local citing TT, to search their hiding places thoroughly and to ask older relatives too. The central bank is aware of many cases in which people have simply forgotten about cash they had saved, she said.

What this means for travellers to Sweden

Holidaymakers from Germany, Austria and Switzerland who have kept krona notes from previous trips may also be affected. Whether a note is still valid can be checked on the Riksbank’s website. The press release gives no details on payments to accounts abroad; anyone wishing to submit notes from abroad should therefore contact the Riksbank directly.

In any case, cash plays only a minor role in everyday life in the country: in Sweden, people pay by card or mobile phone almost everywhere. Further practical tips can be found in our overview of travelling to Sweden and in the frequently asked questions about Sweden.

Sources

• Sveriges Riksbank: Möjligheten att lösa in ogiltiga sedlar upphör 1 juli 2027
• The Local Sweden: Swedish Riksbank sets new deadline to cash in old banknotes
• Sveriges Riksbank: Att lösa in ogiltiga sedlar