The answer in short is YES, (500 Euros NO). So far, no exchange deadline has yet been set for the exchange of old Euro banknotes from the First Series.
We have been hearing about the old and new Euro Banknotes and there are a lot rumors and fake news around in the internet. Let’s read what’s the reality.
The roll-out of the Second Series of Euro banknotes was completed in May 2019. The First Series of Euro banknotes from €5 to €500, issued since 2002, is being replaced by the newer set of euro banknotes from €5 to €200. Are the old Euro banknotes still valid, and how can you exchange them? Read on to find out.
In 2019 Which old Euro banknotes have been replaced by new Euro banknotes?
The following banknotes from the First Series of Euro banknotes have been replaced by newer Euro banknotes from the Second Series which are:
- €5 – euro banknote
- €10 – euro banknote
- €20 – euro banknote
- €50 – euro banknote
- €100 – euro banknote
- €200 – euro banknote
The roll-out of the Second Euro banknotes series has been completed in May 2019 recently.
What about 500 Euro banknotes, Old ones are still valid?
The European Central Bank has decided not to include a €500 euro banknote in the Second Series of Euro banknotes. The €500 Euro banknotes will no longer be issued and they are no longer in circulation since 2019.
Are the First Series old Euro banknotes still valid?
The old Euro banknotes from the First Series remain valid, and they can be spent without problems in the Euro-zone and in the UK. But Especially foreign countries they do not want to buy these series anymore.
When purchasing Euro banknotes, many British customers prefer to only receive Euro banknotes from the Second Series. For this reason, some bureaux de change in the UK may not accept Euro banknotes from the First Series from their customers.
€500 euro banknotes from the First Series are still valid but they are being withdrawn from circulation.
Are old Euro banknotes from the First Series still legal tender?
Yes. The old Euro banknotes from the First Series still remain legal tender. They have the exact same value as the equivalent banknotes of the Second Series of Euro banknotes. Both types of Euro banknotes circulate alongside each other in the Euro-zone.
The OLD 500-euro banknote also remains legal tender, but it is more difficult to spend them, as most vendors in the Euro-zone don’t accept €500 notes for payments.
So far, no exchange deadline has yet been set for the exchange of old Euro banknotes from the First Series. So, no rush for that. For sure there will be official announcements from European Central Bank and also from other banks in case there will be a deadline defined.