Source: Danmarks Nationalbank
2 September 2024
Today Danmarks Nationalbank launches an information campaign in Denmark and Greenland. Danmarks Nationalbank is appealing to all citizens to examine whether they have banknotes due to become invalid after 31 May 2025.
The campaign is a follow-up to the November’ announcement that new banknotes will be introduced in 2028-2029 and that the 1000-krone banknote and older banknote series will become invalid after 31 May 2025.
“We are running the campaign and writing letters to ensure that everyone is thoroughly informed about which banknotes will become invalid after 31 May next year, and what to do if they have any of those banknotes. We are launching the campaign now to ensure there is plenty of time to spend the banknotes or hand them in, and we have organised a campaign with a wide reach,” says Camilla Penn, Head of Secretariat and Communications at Danmarks Nationalbank.
“People have been good at handing in 1000-krone banknotes at their bank or using them to pay for goods and services, but we haven’t received many banknotes from the older banknote series. We’ve therefore chosen to focus on the older banknote series in the campaign. We realise that some banknotes have been lost and that others will be kept as collectors’ items, but we think it’s important that everyone is aware that these banknotes are going to become invalid,” she continues.
Letter backed by broad campaign
The key element of the nationwide campaign is an letter to be sent to everyone over the age of 15 during September – either via Digital Post or as a physical letter for anyone exempted from Digital Post.
The letter will be sent out in stages throughout September, while the campaign will run on city posters and print, online and social media adverts.
“We are trying to reach a wide audience so that as many people as possible see the campaign and are reminded of the message in the letter. Overall, we hope that this will boost the return of old banknotes in particular, and that awareness of the fact that a number of banknotes become invalid will be high,” says Camilla Penn.
It is Danmarks Nationalbank’s job to ensure safe and efficient payments. Older banknotes will be withdrawn because fewer people recognise them and they are difficult to use. 1000-krone banknotes are being phased out because payment habits have changed, making use of the 1000-krone note obsolete.
Since the decision was announced in November last year, more than kr. 15 billion of the kr. 21 billion in 1000-krone banknotes in circulation has been handed in. Of the older banknote series, Danmarks Nationalbank have received kr. 0.5 billion of the kr. 3.4 billion November 2023 circulation.
Nearly three in four 1000-krone notes have been used for payment or deposited at a bank, while 15 per cent of the outstanding banknotes from the 1944, 1952, 1972 and 1997 series have been used for payment or deposited.
Read more at nationalbanken.dk/en/the-future-of-cash, where you can also see pictures of which banknotes will become invalid.
Press enquiries can be directed to Peter Levring at +45 2620 1809.
