Decided by ECB, these 50 euros will soon disappear

The new « European » series banknotes have advanced security elements such as holograms and special paints – which make their counterfeiting significantly more difficult. The purpose of the old EUR 50 euros is double: on the one hand, they want to protect citizens from fraud and, on the other hand, want to modernize the banknotes in everyday use, writes Linternaute.comwhat the Blic noticed.

Which banknotes are affected by subtraction?

The subtraction applies only to the $ 50 banknotes issued before 2017. The « Europe » series is another banknotes They continue to be valid and remain in circulation without restriction.

It is important to know that old banknotes do not lose their value either, as they can be redeemed free in the French National Bank (Banque de France) branches and at some commercial banks.

When does the withdrawal of old banknotes begin?

The withdrawal process has already begun and will gradually accelerate in the coming months.

Although the official deadline for the exchange has not yet been published, it is recommended that the owners of the old $ 50 banknote holding themselves as soon as possible to replace or spend to avoid any inconvenience.

What to do if you have an old banknote?

If EUR 50 before 2017 banknote You have your possession, you can choose from the following options:

• You can spend in stores that are still accepted,
• You can pay your bank account,
• Or you can redeem it directly in one of Banque de France’s accounts.

No separate fee is charged for any of these transactions.

This measure is part of a comprehensive modernization program that has previously affected the EUR 5, 10 and € 20 denominations, they write.

Since the most commonly used banknote in the euro area – currently about 9 billion in circulation – is of paramount importance.

Check your banknotes!

Authorities suggest that everyone checks whether the 50 euros they own belong to the old or new series. If they come from the old series, it is advisable to redeem or use them as soon as possible.

The modernization of European cash flow continues, and the goal is to create a safer, more reliable economy.