Merchants are not legally obligated to accept as payment banknotes with a thin silver band of nominal value of 100, 200, 500, 1000 and 2000 crowns from 1995 to 1999. The expiration date he ended on 30 June 2022. The Czech National Bank announced this in a press release on Wednesday.
However, according to the Czech National Bank, the law does not prohibit merchants from accepting invalid banknotes at their own discretion. However, in that case, these notes should not be put back into circulation, for example, by returning them to another customer at the time of payment.
If the problem is still not resolved, the customer has the right to ask the merchant to exchange the invalid note for a valid one on the spot. Merchants are obliged to return only valid domestic banknotes and coins to customers, the Czech National Bank stressed.
If the merchant refuses to exchange invalid notes for the customer, the customer can contact the Czech National Bank. The Czech National Bank will investigate the request as part of its monitoring of the money’s circulation. .
The central bank also noted that the 5,000 crown note issued in 1999 also has a thin silver band and is still valid. Therefore, traders are legally obligated to accept payment for goods and services from their customers.
Invalid banknotes of 100, 200, 500, 1000 and 2000 crown denominations from 1995 to 1999 will be held until June 30, 2024 in all financial institutions carrying out cash transactions and at the same time in seven Czech Redeemable at all local offices. state bank. From 1 July 2024, currency exchange will only be possible at central bank counters.
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