In June of last year, the Czech National Bank (ČNB) withdrew the older designs of the 100, 200, 500, 1000, and 2000 koruna banknotes from circulation, which were issued between 1995 and 1999. The new designs feature more modern security features to prevent counterfeiting and make verification of their authenticity easier. However, tens of millions of the old banknotes are still in circulation, and they may no longer be accepted by shops.

To distinguish between the old and new designs, the ČNB recommends examining the width of the silver stripe that crosses the banknote from top to bottom. In the older designs, the stripe is narrow and does not change color when tilted, while in the new designs, the stripe is wider and changes color from brownish-purple to green when tilted against the light. Additionally, the designs differ in the year depicted on the face of the note, with the current plans showing the year with two at the beginning.

The ČNB is counting on the fact that some of the old banknotes will not be returned to them. Over 46 million invalid banknotes are in circulation, worth more than CZK 15 billion. The most frequent among them are banknotes in CZK 100 and CZK 200, but this number is also distorted by the fact that tourists often take them abroad.

Merchants are legally entitled to refuse payment with invalid banknotes, but if they decide to accept them, they are not allowed to put them back into circulation. If you find payment notes with the old design in your wallet, you can have them replaced, a piece for piece, without a fee. This can be done at branches of all banks with cash desks or deposit-taking ATMs. This exchange will end in June 2024, and after that, it will only be possible in ČNB branches.

In conclusion, it is important to check the banknotes in your wallet to ensure that they are not the older designs that have expired. The new designs feature more modern security features to prevent counterfeiting and make verification of their authenticity easier. If you have old banknotes, you can have them replaced without a fee at branches of all banks with cash desks or deposit-taking ATMs until June 2024. After that, replacement will only be possible in ČNB branches.

Article by Prague Forum