On Nov. 30, 2023, DEN CB set out the future of Danish cash, and strategic initiatives.
The new banknotes are expected to be launched in 2028-2029, and the series will comprise 50, 100, 200 and 500-krone banknotes, but not a 1000-krone banknote.
From Jun. 1, 2025 and until launch of new banknote series, there will only be one series of banknotes in circulation comprising 50, 100, 200 and 500-krone banknotes.
DEN CB advise for AML purposes, all persons will be required to document or explain how the cash has been obtained legally, once DEN CB checkpoints for exchange open.
In Dec. 2023, DEN CRG issued AML/CTF warning on note phase-out, see #195794.
In Nov. 2024, DEN CB said it will open deposit points for invalid notes, see #234771.
DEN CB planned new series of banknotes, 1000-krone banknote will be phased out.
Old Banknotes Recall and Information
At the same time, DEN CB recalls pre-2009 banknotes, DEN FSA will monitor process aligns with rules on the prevention of money laundering, as per DEN FSA FAQs.
The old banknotes are difficult to handle for retailers and banks because they do not meet present standards, which is why DEN CB will remove old notes from circulation.
When the new series of banknotes is released in 2028-2029, the current series of bridges and antiquities will also be phased out to just one valid series of banknotes.
DEN FSA FAQs
Anti-Money Laundering Act requires that financial companies, e.g. banks, know their customers and check their identities, and diligently monitor customer transactions.
Suspicious transactions must be reported to the Money Laundering Secretariat.
Under the FAQ section on banknotes, DEN FSA advises banks to expect that even customers who do not habitually deposit cash will hand in the summoned banknotes.
Effectiveness
Pre-2009 banknotes will be valid only until May 31, 2025, and the 1000-krone banknote will be discontinued completely on this date, and not returned to new series.
After May 31, 2025, possible to have old banknotes redeemed at DEN CB for one year.
In Greenland, the same series of banknotes are used as in Denmark.
When older Danish banknotes and the current 1000-krone banknote become invalid after May 31, 2025, these banknotes will thus also become invalid in Greenland.
Nov. 30, 2023 Future of Danish Cash
On Nov. 30, 2023, DEN CB set out the future of Danish cash, and strategic initiatives.
The new banknotes are expected to be launched in 2028-2029, and the series will comprise 50, 100, 200 and 500-krone banknotes, but not a 1000-krone banknote.
From Jun. 1, 2025 and until launch of new banknote series, there will only be one series of banknotes in circulation comprising 50, 100, 200 and 500-krone banknotes.
DEN CB advise for AML purposes, all persons will be required to document or explain how the cash has been obtained legally, once DEN CB checkpoints for exchange open.
In Dec. 2023, DEN CRG issued AML/CTF warning on note phase-out, see #195794.
In Nov. 2024, DEN CB said it will open deposit points for invalid notes, see #234771.
