Danish 1,000-krone notes and older banknotes to lose all value by end of May

Denmark’s 1,000-krone banknotes and pre-2009 series notes will become worthless when May ends, yet nearly 1 billion kroner in these bills remain unreturned, reports DR Østjylland. While the central bank has expanded exchange options amid a last-minute rush, officials expect some notes will never be redeemed.

As of June 1, the red-tinted 1,000-krone note—already unusable in transactions for nearly a year—will hold no monetary value, along with older banknote series. Those discovering forgotten bills after the deadline will receive no compensation, Denmark’s Nationalbank warns.

A recent surge in exchanges, particularly in Aarhus, has prompted the central bank to open an additional service counter in the city. “Until a few weeks ago, it was quiet in Aarhus, but we’ve seen a sharp increase—now matching Copenhagen’s volume,” said Niels Kaas, the Nationalbank’s chief cashier. He attributes the uptick to public awareness campaigns and spring cleaning: “People are checking between layers, or wherever they might be stored.”

Still, over 900 million kroner in 1,000-krone notes and more than 2 billion kroner in older series remain outstanding. Kaas doubts all will be returned: “We started with 21.1 billion kroner in circulation. At this point, the missing notes likely won’t come in.” Physical deterioration, loss, and collector demand for older bills may account for the gap.

Individuals can exchange up to 5,000 kroner for new cash or deposit funds into a bank account; larger sums must be transferred electronically. Strict anti-money laundering rules apply: exchangers must complete documentation in advance, appear in person with photo ID, and cannot send notes by post or use proxies.

The final deadline for redemption is May 31. After that, the notes will hold no value.