I went to bank today to put CHF in my account in a Polish bank and they said that this banknote is not acceptable to be deposited in our bank! However, it is acceptable inside Switzerland itself. Can anybody let me know whether this type is used in Switzerland?
9This sort of thing is common with US money. Under US law (31 U.S.C. 5103), all money ever issued by the USA is fully valid today (including retired designs and even denominations), but many non-US banks and money changers will refuse to accept older money. US banks and retailers usually accept them. About five years ago, I passed a $10 from the 1980's at a Macy's on the US east coast. They accepted it without question or comment.– Robert ColumbiaMay 14, 2021 at 11:25
5It was announced in 2019, so it is not sudden. This is common place after a new banknote series is introduced. At some point only the issuing bank will take them back.– Mark JohnsonMay 14, 2021 at 12:26
10Regarding US bank notes: when I trained in a Swedish bank (ca 1995) it was said that the amount of counterfeit US notes circulating outside US was larger than the amount circulating inside the US. The notes were said to be of very high quality, basically impossible for an untrained person to identify. True or false, it might be seen on one reason why we rarely accepted these notes.– ghellquistMay 14, 2021 at 14:12
4@ghellquist it may also be that US banknotes in the mid-90s were relatively simple (compared to other countries' paper money), so easier to forge.– DancrumbMay 14, 2021 at 18:32
1@VolkerSiegel : It was a long time ago though. I've since left banking. At the training time it was said the Iranians had access to US paper (from before the revolution) and was in need of funds as well as liked to harass the US. It was also said that in the ending days of the Soviet union the generally accepted payment was US dollars. Most of the notes were said to be counterfeited. Long time though, and mostly memories. In later years, the only place I've used US notes was in Auruba, but of course that is "half" in the USA.– ghellquistMay 15, 2021 at 8:44
This note belongs to the 8th series of banknotes. They are no longer legal tender, so banks do not have to accept them.
The eighth banknote series was issued between 1995 and 1998.
These banknotes were recalled as of 30 April 2021 and are thus no longer legal tender. They can be exchanged for an unlimited period of time at the Swiss National Bank at full nominal value.
40@Turkan The Swiss National Bank is guaranteed to accept it. Anyone else in Switzerland might still do it at their own discretion, but you have no right to demand this banknote to be accepted anywhere else than at the national bank.– TooTeaMay 14, 2021 at 7:14
6@Turkan The notes are old enough, and likely easy enough to counterfeit with modern technology, that foreign banks will no longer take the risk of identifying them correctly because that risk is not worth it to them. Forcing the notes back to their home bank at this time is a way to encourage them to drain from circulation. The home bank will also be best equipped to detect forgeries this way.– J...May 14, 2021 at 14:50
4@Turkan You could also just keep it as it will eventually become a collectors item :) May 14, 2021 at 21:02
1@DavidPostill Then it does worth more than 10000 USD:)– user105427May 15, 2021 at 10:29
2@Turkan Only if the USD goes down the drain. While this might happen, it would be useless to you, holding old CHF. I advise not to keep it, but to exchange it via a traveling friend.– ChrglmglMay 15, 2021 at 11:31
The 8th series bills are no longer legal tender as other answers have said.
They are still accepted by federal public institutions for payment (SBB/CFF/FFS and post offices) until October 30, 2021.
Many if not all banks offer to exchange or deposit the bills for their clients.
The central bank, Swiss National Bank, will exchange recalled bills, without fee or deadline, at its offices and designated institutions for anyone (subject to money laundering checks). You can find a list of offices and agencies here (including other instructions).
If you are unable to travel to Switzerland or an SNB agency, you can also mail bills to the SNB office and they will deposit the amount in your bank account, which does not have to be a Swiss one (but your bank may levy incoming wire fees). Of course, you should probably send it registered and insure the amount (at your own cost) if your country’s postal service allows it.
Businesses in Switzerland are no longer obligated to accept them, and many have already decided to no longer process them, e.g. poster taken at KFC:
("The 8th-series bills are no longer valid from 30 April 2021. Only CFF (Swiss Federal Railways) and the Swiss Post accept them. The National Bank exchanges them for new bills of equal value.")
For smaller shops and restaurants for whom the cost of cash processing is comparatively insignificant, they may still accept it.
2Are you sure posting money is possible? Thanks– user105427May 14, 2021 at 10:55
@Turkan Yes, see the instructions PDF linked. Whether Polish postal service is reliable enough that I do not know. May 14, 2021 at 11:00
3@Turkan Yes, the Polish Post explicitly talks about them and recommends to send an insured letter ("list wartościowy"). Maximum allowed sum is 1000 SDR (about 1300 CHF), though. May 14, 2021 at 14:26
@ Radovan Garabík which post should I go ?– user105427May 15, 2021 at 13:19
@ Radovan Garabík It seems that I should send by post. I am not completely sure that the thing you mentioned as insured is really insure the money?– user105427May 17, 2021 at 10:55
Advice from inside Switzerland for those who want to save a trip to a bank if you don't have "enough" to make it worthwhile to go get "rid" of.
I had around 300 worth of CHF in 10s and 20s and noticed that old notes are accepted by parking and ticket machines, so if you are a train commuter that's where I would offload them. Also, I paid with some of the old notes in local restaurants they didn't seem to care.
I did get the old notes rejected (that's how I was first made aware of the issue) at the local supermarkets (Migros or Aldi I think).
Ofc the most appropriate solution would be to just go to the bank.
Heres a list:
APPENZELL Appenzeller Kantonalbank Bankgasse 2 CH-9050 Appenzell +41 71 788 88 88
CHUR Graubündner Kantonalbank Postplatz CH-7001 Chur +41 81 256 91 11
FRIBOURG Banque Cantonale de Fribourg Bd de Pérolles 1 CH-1700 Fribourg +41 848 223 223
GENEVA Banque Cantonale de Genève Quai de l’Ile 17 CH-1211 Geneva +41 58 211 21 00
GLARUS Glarner Kantonalbank Hauptstrasse 21 CH-8750 Glarus +41 844 773 773
LIESTAL Basellandschaftliche Kantonalbank Rheinstrasse 7 CH-4410 Liestal +41 61 925 94 94
LUCERNE Luzerner Kantonalbank Pilatusstrasse 12 CH-6002 Lucerne +41 844 822 811
SARNEN Obwaldner Kantonalbank Rütistrasse 8 CH-6060 Sarnen +41 41 666 22 11
SCHAFFHAUSEN Schaffhauser Kantonalbank Vorstadt 53 CH-8200 Schaffhausen +41 52 635 22 22
SCHWYZ Schwyzer Kantonalbank Bahnhofstrasse 3 CH-6430 Schwyz +41 58 800 20 20
SION Banque Cantonale du Valais Rue des Cèdres 8 CH-1950 Sion +41 848 765 765
STANS Nidwaldner Kantonalbank Stansstaderstrasse 54 CH-6370 Stans +41 41 619 22 22
ZUG Zuger Kantonalbank Bahnhofstrasse 1 CH-6300 Zug +41 41 709 11 11
From outside of Switzerland you can mail them to
Swiss National Bank Cashier’s Office, West Bundesplatz 1 CH-3003 Berne
Don't forget to attach:
Address (full last name, first name, full address including country)
IBAN of the account in your name
SWIFT BIC, name, and full address of the bank where the account is held
1And most banks (PostFinance, BCVaudoise, Credit Suisse at least) still accept them for deposit at ATMs or cashier's desk (at least PostFinance and BCV). May 15, 2021 at 12:10
Thanks to all,
This is the answer to my question from swiss bank:
The Swiss National Bank was recalling its eighth-series banknotes as of 30 April 2021. From this date on, the banknotes from the eighth series lose their status as legal tender and can no longer be used for payment purposes.
This does not apply to the public cash offices of the Confederation (SBB/CFF, Swiss Post), which will continue to accept eighth-series banknotes until 30 October 2021.
Banknotes from the eight series can be exchanged for an unlimited period of time at any cash office of the Swiss National Bank Counters in Berne and Zurich or at an SNB agency (these are all located in Switzerland) at full nominal value.
For further information on exchanging notes and coins, as well as a list of our cash offices, please consult our ‘Instruction sheet on exchanging recalled banknotes’, available at: www.snb.ch/en/mmr/reference/instr_recalled_notes/source.
Please do not hesitate to contact us again if you have further questions.
Yours sincerely, XXX
1Banknotes from the eight series can be exchanged for an unlimited period of time at any cash office of the Swiss National Bank Counters in Berne and Zurich or at an SNB agency (these are all located in Switzerland) at full nominal value. THIS IS GOOD RELIEF– user105427May 15, 2021 at 10:28
That's an eighth series banknote, which was replaced by the ninth series only in September 2019, so
yes, it's legal tender and would be widely accepted in Switzerland as of 30 April 2021, they're no longer legal tender!
I would suggest trying another bank or money changer in Poland, although you may have a hard time.
Thank you so much. so at least in switzerland there would be no problem right in shopping centers or so...?– user105427May 14, 2021 at 6:46
1@Turkan Sorry, based on the other answer it looks like they stopped being legal tender two weeks ago! May 14, 2021 at 6:49
but the bank told me they are accepted in switzerland. It is not possible that switzerland itself does not accept it!!– user105427May 14, 2021 at 6:51
@Turkan I'm pretty sure you could pay using that banknote everywhere in Switzerland - shops aren't required to take it, but they want to sell you stuff, so... But it's going to become more difficult with time, for example in a year or two you might encounter a cashier who has never in their working life accepted such a bank note and who probably won't (at least not without talking to their supervisor, who might say no).– NobodyMay 14, 2021 at 14:37
3@Nobody FWIW my local KFC, McDonald's, and some major supermarkets have put posters up that they no longer accept old bills. May 14, 2021 at 15:32
I sent it via mail to Switzerland and SNB said that they will check it and send the money to my account.
In 2015, I found an even older CHF 50 banknote in my grandparents' house. It belonged to a series older than the 8th from which the picture is from. That one was no more legal tender since decades, for sure. Some Swiss coins found in the same box were stamped with the year 1960.
I went to inquire about at a local Raiffeisen bank branch (small office in a village in Valais), and they exchanged it against a current one. You too may have a chance doing so.