National Central Banks of the Eurozone will provide customers with €500 banknotes until January 26, 2019, but the issue of this denomination is stopping, the Central Bank said on Wednesday. The banknote will remain legal tender.
In an announcement, the CBC said that on May 4, 2016, the Governing Council of the European Central Bank decided that the €500 banknote will be excluded from the Europa series and the issuance of this denomination will be stopped around the end of 2018.
- Euro area NCBs will provide their customers until and including January 26, 2019 with €500 banknotes.
- In order to ensure a smooth transition and for logistical reasons, the Deutsche Bundesbank and Oesterreichische Nationalbank will issue €500 banknotes until and including April 26, 2019.
- After the issuance stop, the €500 banknote will remain legal tender and can therefore continue to be used as a means of payment and store of value. Commercial parties (such as banks, cash-in-transit companies, bureaux de change etc.) are allowed to recirculate €500 banknotes.
- The €500 banknote, like all other denominations of euro banknotes, will always retain its value and can be exchanged at the national central banks of the Eurosystem for an unlimited period of time.