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 Replies: 8 / Views: 1,622 |
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Pillar of the Community
Canada
2574 Posts |
I have four 100 & one 50 paper SEK's but just found out the Riksbank is not accepting them at the end of this month. I'd rather exchange them as they're quite circulated and would prefer euros (going there in the fall). https://www.riksbank.se/en-gb/notes-and-coins/A) do you think the exchange houses would accept these B) do you think this will impact the hobby (for collectors of Swedish currency)? |
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Rest in Peace
United States
17900 Posts |
Another tiny step toward cashless societies.
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Pillar of the Community
Germany
992 Posts |
Quote:
I have four 100 & one 50 paper SEK's but just found out the Riksbank is not accepting them at the end of this month. Not true:Quote:
After 30 June, there is a possibility that the Riksbank can redeem invalid banknotes for an administration fee of SEK 100. To redeem the banknotes at the Riksbank, you must send them in by post. See full post here: https://www.riksbank.se/en-gb/press...nk-accounts/ |
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Pillar of the Community
Sweden
1078 Posts |
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Not true Indeed. The fee-less exchange period ends, but after that, any note ever issued by the Riksbank, including these notes can be redeemed with an administrative fee of 100 SEK per transaction. They had a prolonged exchange period because they held the majority of cash value in the old note series. Collector value of these will most likely be low but because they're permanently redeemable, the value remains. Bureaus de change will not accept these as they are not legal tender. For the sake of ease, they would be exchanged through sites like leftovercurrency.com with sizably decreased exchange rates, or simply redeemed by sending the notes to the Riksbank but having to pay the 100 SEK administrative fee. The extended exchange window is for the general public to deposit old notes the 'easy way', that is through bank offices although many are greedy enough to not handle cash at all, which makes it hard for the general public. |
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Rest in Peace
United States
17900 Posts |
That makes good sense. Another reason that it's great to have forum members from all over the world.
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Pillar of the Community
 Canada
2574 Posts |
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The extended exchange window is for the general public to deposit old notes the 'easy way', that is through bank offices although many are greedy enough to not handle cash at all, which makes it hard for the general public. Well, my bank and local exchange house won't take them, so I guess I will have to send them to Sweden with the 100SEK fee (which is $15 CDN) plus postage. |
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Pillar of the Community
Canada
2574 Posts |
The notes were sent to the Riksbank. I got an email indicating they received them but no notification that they would honour exchanging them, nor whether they would deposit the CDN equivalent (minus their fee) in my bank. As it turned out, they did wire me the funds back in July, so all good.
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Pillar of the Community
Germany
992 Posts |
@walk2dwater: Thanks for the update.
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Pillar of the Community
Canada
2574 Posts |
No problem. I suggest if you have any old circulated SEK that has been deemed "no longer legal tender" than download the PDF from the Riksbank website & complete it. Get a signature from your local bank branch (to witness). I know its a drag but you will have to "bite the bullet" on their 100 SEK fee. I actually sent the money (wrapped up by the form) by regular post and it arrived in good time (not sure how much you trust your local postal system). It was found money for me so I figured "if it gets stolen - it gets stolen."
Also, I would not recommend the websites that offer to exchange these (at terrible rates of exchange) as the bank announced that they would no longer accept large amounts of currency from these sites recently. Not sure how successful they will be at that- but I don't feel it is worth the risk.
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Replies: 8 / Views: 1,622 |
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Posted 06/20/2018 03:08 am
