The €500 and €200 banknotes will no longer be accepted

The €500 and €200 banknotes will no longer be accepted All residents of the European Union will have to get rid of banknotes in denominations of 500 and 200 euros. You will no longer be able to pay them. The European Central Bank issued an official statement regarding the complete withdrawal of euro banknotes from circulation. Here’s when the changes will take effect.
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The €500 and €200 banknotes will no longer be accepted

The €500 banknote was never produced So it will be out of circulation soon. “As of January 27, 17 out of 19 central banks in the eurozone will no longer issue €500 notes,” the ECB said. In 2024, this banknote will disappear from circulation. Next year, the €200 banknote is likely to disappear throughout the European Union.
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These Euro banknotes cannot be accepted

German The Bundesbank also warns against accepting counterfeit euro notes. This applies to all denominations. in Official announcement The Bundesbank reported that more counterfeiting operations were recorded last year than in the previous year. Total payment transactions in Germany 44,100 counterfeit euro banknotes with a face value of €2.7 million were withdrawn in 2018. This means that the number of counterfeiting operations in the country increased by 5.2 percent. compared to the previous year.
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The amount of counterfeit money increased in 2022 across the Eurozone. In total, 376,000 forgeries were registered. This corresponds to an increase of 29,000 units (+8.4 percent) compared to the previous year.
He watches video, Find out what to do if someone pays you with fake money. The rest of the article is below the video.

The 50 euro banknote was the most counterfeited It accounted for about 40 percent of all counterfeit coins on record, while fake banknotes were counterfeit 20 euros came second with a score of 23.6%. The damage caused to the euro area by counterfeit money amounted to 21.5 million euros and was higher than in 2021 (17.5 million euros).
Read also: Germany is getting rid of these banknotes. In 2022, more than four million will be replaced

Consequences of accepting counterfeit euro banknotes

The Bundesbank requires that security features on banknotes be examined to distinguish real money from counterfeit money.
German police warn that “anyone who accepts counterfeit money and recognizes it after the time has passed is harmed for several reasons: they do not receive compensation, and anyone who intentionally transfers counterfeit money is prosecuted under the law.” Violators face at least one year in prison (according to Article 147 of the Penal Code).
If you suspect that you have mistakenly accepted counterfeit money, immediately Report to the police. It is best to put the banknotes in an envelope so that the officers can take fingerprints from them. Read also: Counterfeit money entered circulation. Pay attention to one detail

What are the security features of euro banknotes?

Common primary security features of banknotes are:

  • The name of the coin is written in Latin letters (EURO) and Greek (EYPΩ),
  • Abbreviation of the name of the European Central Bank in various versions (BCE, ECB, EZB, EKT, and EKP) – Coverage of several official languages ​​of the European Union. Abbreviations are placed on the front left side of the banknotes,
  • code “c” To indicate copyright – also on the front side, in the lower left corner of the banknote, just before the abbreviations of the name of the European Central Bank,
  • European Union flag On the front side of the banknote, in the upper left corner,
  • The number indicating the denomination of the banknote is large and bold. Labels make it easier for the blind and visually impaired,
  • Serial numbers It is located in two places on the back of the banknote. It is printed both vertically and horizontally. The horizontals are applied to the banknotes using black paint, while the verticals are painted in a different color (for example, blue for the 20 euro banknote). The horizontal serial number consists of two letters and ten numbers. The first letter serves as an identifier for the printing press, and the second letter, although it is not of great security importance and is not used to identify the place of creation of the banknote, allows you to confirm its authenticity, and allows subsequent numbers to be generated,

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  • complement numbers against light – The characters printed on both sides in the upper corner of the paper complement each other to form the category. The whole number can be seen under the light,
  • hole – When you hold the banknote to the light, the hologram shows a hole in the shape of the € symbol,
  • Paper texture – The paper is made of pure cotton fibers, thanks to which the banknotes are hard and fast,
  • raised print – appear in several places on the front of the banknote, including the main figure. perceptible by touch,
  • golden bar – When viewed from the angle of the 5€, 10€ and 20€ banknotes, an iridescent gold band appears on the reverse side with the denominations and the € symbol. On banknotes in denominations of 50 euros, 100 euros, 200 euros and 500 euros, the color of one denomination printed with special ink changes color depending on the viewing angle,
  • hologram – When viewed from the angle of the 5€, 10€ and 20€ banknotes, the rainbow background of the holographic strip alternates between the denomination and the € symbol. Along the edges are labels in the form of vignette. On banknotes in denominations of 50 euros, 100 euros, 200 euros and 500 euros, the hologram, depending on the angle of view, displays the image of the main idea or denomination. On the edges there are fine texts containing the denomination value and the name of the coin,
  • Watermark – It is obtained by changing the thickness of the paper. You can see it under the light. The color transitions between the light and dark elements of the theme are smooth. If a banknote is placed on a dark surface, the bright items will darken. This guarantee can be seen on the denomination,
  • seat belt – is included in the banknote. When viewed against a light, the bar appears as a dark line. The word EURO and denomination appear in small letters,
  • hologram box – On banknotes in denominations of 50 euros, 100 euros, 200 euros and 500 euros, the hologram displays the value, alternating with a window or gate. In the background are concentric rainbow circles in small print, extending from the center of the hologram to its edges,
  • Change the color of the sect – on banknotes in denominations of 50 euros, 100 euros, 200 euros and 500 euros, the color of the reverse side changes from violet to olive green or brown,
  • Each category has a different size – The higher the category, the higher the volume. This protection is also a relief for the blind and visually impaired.

Also read: Bank customers are facing difficulties. Cash withdrawal can be difficult during these hours

source: Bundesbank.deAnd,

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