Replacement of Old Hungarian Banknotes for Free May End

The National Bank of Hungary (MNB) has warned that HUF 2,000 and 5,000 banknotes issued before 2016 may not be replaced with the new banknotes free of charge at every bank and postal office after July 31, 2020.

A statement by MNB says that after July 31, 2020, post offices and credit institutions may continue to replace the old denominations concerned, but may decide on the provision of the service and its conditions, such as the charging of a fee, in accordance with their own business policy.

The central bank withdrew these old banknotes from circulation as of July 31, 2017. However, the old banknotes will not lose their value as the central bank will replace them – as required by law – with new banknotes of the same face value free of charge until July 31, 2037.