Questions regarding Danmarks Nationalbank's banknote exchange points

How do I get the money?

Private individuals can exchange a maximum of kr. 5,000 to new banknotes. You can also choose to have the money deposited in your bank account. If you hand in more than kr. 5,000 the money will be transferred to your bank account. If you hand in money on behalf of a company, it will always be transferred to the company's bank account.

Regardless if you exchange to new banknotes or have them deposited to your bank account, you must always fill out and print an exchange form.

Is it free to use the banknote exchange points?

Danmarks Nationalbank and FOREX do not charge a fee for exchanging the banknotes that will become invalid.

If the money is to be transferred to your bank account, Danmarks Nationalbank will pay the amount 1 to 1 in Danish kroner without charging a fee. However, be aware that in some cases your local bank may charge a fee for receiving the money, which is not covered by Danmarks Nationalbank. The amount received may therefore be minus any fees from your own bank.

When transferring to a foreign account, the amount will be converted to a currency other than Danish kroner, which may incur an exchange fee. The exchange fee is not covered by Danmarks Nationalbank.

Can I hand in banknotes on behalf of others, such as family members?

No. It is only possible to hand in your own banknotes, and banknotes must be handed in personally at one of Danmarks Nationalbank's three banknote exchange points, located in Aarhus, Odense and Copenhagen.

Please note that you can pay with the banknotes in shops or deposit them in your bank account until 31 May 2025.

The redeemed banknotes, I would like to exchange, are damaged. Will the banknote exchange points accept them?

Yes. But there must be more than 50 per cent of each banknote remaining. If you have 50 per cent or less of a banknote, it is not valid and the exchange point will not accept it.

Only banknotes that will become invalid as a means of payment on 31 May 2025 will be accepted at the banknote exchange points.

Why can private individuals only exchange kr. 5,000 in cash?

Danmarks Nationalbank has decided that the maximum amount that can be exchanged is kr. 5,000. This is primarily due to the risk of money laundering, which increases as the amount increases.

If you have more than kr. 5,000, the amount will be transferred to your bank account. You need to fill out a form and bring documentation before you arrive at the banknote exchange point.

How can private individuals exchange more than kr. 5,000 for new cash?

You can have the money transferred to your bank account. You will need to fill out an exchange form, bring documentation and attend one of the 3 banknote exchange points in person. Read more at www.forexvaluta.dk/invalid-banknotes/exchange-as-private-individual.

Once the money has been transferred, you can go to your own bank and withdraw it as cash or withdraw the amount at an ATM.

What documentation do I need to bring with me when I visit a banknote exchange point?

You must fill out and print an exchange form, which you must bring with you, along with a printed copy of the documentation.

There are differences in the documentation you need to bring as a private individual, Danish company or a foreign company:

• Exchanging as private individual: www.forexvaluta.dk/invalid-banknotes/exchange-as-private-individual.
• Exchanging as a business: www.forexvaluta.dk/invalid-banknotes/exchange-as-a-business.
• Exchanging as a foreign business: www.forexvaluta.dk/invalid-banknotes/exchange-as-foreign-business.

Why do I need to bring documentation?

The documentation must ensure that FOREX and Danmarks Nationalbank can perform the necessary anti-money laundering checks. The same rules apply to exchange via Danmarks Nationalbank's banknote exchange points as for exchange at banks and bureaux de change. The rules are set out in the Danish Financial Supervisory Authority's guidelines.

I live in Greenland. What do I do with the notes that will become invalid?

You can pay with the banknotes in shops or go to your bank and have them deposited in your account until 31 May 2025.

Greenlandic citizens will also be able to exchange the banknotes between 1 June 2025 and 31 May 2026 in Greenland. That’s up to one year after the banknotes become invalid as legal tender.

Further information about this option will be published on this page. If you live in Greenland, you can also use one of Danmarks Nationalbank's three banknote exchange points in Denmark.

I live in the Faroe Islands. What do I do with the notes that will become invalid?

In the Faroe Islands, it will also be possible for Faroese citizens to exchange invalid Danish banknotes between 1 June 2025 and 31 May 2026. That’s up to one year after the banknotes become invalid as legal tender.

Further information about this option will be published on this page.

If you live in the Faroe Islands, you can also use one of Danmarks Nationalbank's three banknote exchange points in Denmark.