Warning on old bank notes - change them or they will be worthless
Swiss bank notes are changing – following the recent introduction of a new 50 franc note, a new 20 note will be issued next month.
But there are plenty of people who have notes from older series stashed away – and there’s a warning they may soon be worthless.
A study by the newspaper, the Luzerner Zeitung, suggest there could be as much as a billion francs stashed away in old notes issued from 1976.
Swiss law says notes older than 20 years from the date of withdrawal are no longer convertible – even at a bank. This is at odds with most other countries where notes can be exchanged for newer versions without a time limit.
If you remember the old 100 franc note with the architect Francesco Borromini – he had a beard on the note – or even the 1000 franc note with the ants, they will be worthless in April 2020.
Figures suggest there are hundreds of these notes unaccounted for. If your gran has a habit of keeping cash under the mattress – it could be a good time to suggest she goes to a bank.