And finally…Swede FA

50 Krona
The old 50 Krona note has not been legal tender since June 30.

Over £115 million worth of Swedish bank notes are sitting in pockets, wallets and piggy banks throughout the Scandinavian country despite them being worthless after today.

Some 41 million old krona notes - in denominations of 20, 50 and 1,000 are still in circulation despite the looming deadline to redeem them.

Sweden’s central bank, the Riksbank, says there has been no sign of the old-style cash despite the notes not being legal tender since June after new designs that have replaced them were introduced last year.



In total, the outdated notes are worth 1.3bn Swedish krona ($155m; £117m), the bank says.

After today’s deadline for people to deposit the old notes into their accounts, they can only be redeemed via the Riksbank, where people will be charged a fee and may face extra checks under money-laundering legislation.

Swedes will see more new notes and coins introduced in October, and the central bank wants people to start using up the old versions now, to avoid a repeat of the current situation.

It says 1.6 billion coins will become invalid in June 2017.

Sweden has become a largely cash-free society, with only 2 per cent of all payments now made in cash.

But a Riksbank spokesman said in March that, notwithstanding the popularity of electronic payments, the bank expects cash to “stick around until the 2030s”.

Share icon
Share this article: