Banknotes withdrawn from circulation that may be exchanged to legal tender
Pursuant to Act CCVIII of 2011 on the Magyar Nemzeti Bank (hereinafter “MNB Act” , the governor of the MNB promulgates by decree the issue, denomination and external form of banknotes and coins, and their withdrawal. On the date specified in the decree of the governor of the MNB, the withdrawn banknotes and coins no longer constitute legal tender.
Until withdrawn, the banknotes and coins issued by the MNB must be accepted by everyone at nominal value for payments made in the Hungarian legal currency.
The MNB exchanges banknotes it withdraws from circulation, no longer constituting legal tender, to the Hungarian legal tender for 20 years from the date of withdrawal and for 5 years from the date of the withdrawal of coins.
The MNB exchanges the following banknotes withdrawn from circulation to the Hungarian legal tender:
| Banknote |
Date of withdrawal |
Date of exchange |
|
|
31 August 1999 |
1 September 2019 |
|
|
31 August 1999. |
1 September 2019 |
|
|
26 July 1999 |
27 July 2019 |
|
|
31 August 2007. |
31 August 2027 |
|
|
16 November 2009. |
16 November 2029. |
Date of withdrawal: date set out in the MNB notice or MNB decree from which the withdrawn banknote and coin no longer constitutes legal tender.
From such date, however, the withdrawn banknotes and coins may still be exchanged at nominal value to legal tender at the cashiers of the MNB.
The Customer may also send the withdrawn banknote for exchange purposes to the MNB by registered mail.
Mailing address: Magyar Nemzeti Bank, 1850 Budapest, Hungary
If a countervalue may be paid in exchange for the withdrawn banknote sent in this manner, the MNB will deliver it to the Customer by mail or bank transfer, in accordance with provisions relating to the payment of customers.
Pursuant to the applicable provision of the Central Bank Act, which entered into force on 1 January 2012 (Article 27 (3) of Act CCVIII of 2011), credit institutions and post offices also exchange banknotes withdrawn from circulation for 3 years from the date of the withdrawal. Currently, statutory obligation to exchange banknotes withdrawn from circulation only applies to 200-forint banknotes, because the three-year period applicable to this denomination expires on 16 November 2012.
Certain credit institutions and post offices also exchange, beyond the obligation imposed on them by law, withdrawn banknotes into legal tender and accept them as payment when their services are used..
Date of exchange: date specified in consideration of the deadlines set out in the MNB notice or Section 27 (3) of the MNB Act until banknotes and coins withdrawn from circulation may be exchanged at the MNB to legal tender.
The MNB will also not exchange the given denomination to legal tender after the exchange date, deadline.