Old banknotes will remain a valid means of payment, so a person cannot be refused such money anywhere.
In Ukraine, from August 1, they will begin to withdraw old 500 UAH banknotes from circulation. Ukrainians do not need to take any special active actions, but at the same time they should beware of scammers.
This was reported by the head of the Verkhovna Rada Committee on Financial, Tax and Customs Policy Danil Getmantsev.
Do you need to exchange old 500 UAH for new ones yourself?
The MP explained important points about the process of withdrawing old 500 UAH banknotes from circulation, issued in 2003-2007. He noted that Ukrainians do not need to take any special active actions.
“Just pay for purchases in stores, make payments in banks, top up your card accounts in terminalsetc. – and the “old” banknotes will be withdrawn and disposed of by the NBU, and instead of them, new banknotes of the 2014 model and subsequent years of issue will be introduced into circulation,” Getmantsev explained.
“Old banknotes will remain a valid means of payment, and you cannot be refused their acceptance anywhere,” he emphasized.
Why will the old 500 UAH be replaced with new ones?
The People's Deputy also said that the replacement of old 500 UAH with new ones is being carried out to update and improve the quality and condition of banknotes in circulation, as well as to increase the level of protection of the cash market from counterfeits. Getmantsev noted that some banknotes have been “out” for 18 years and are not in the best condition.
“All the work will be done by the NBU and banks – getting to the latter from retail chains and population, old banknotes from banks will go exclusively to the National Bank, which will count them and dispose of them,” added the head of the parliament’s financial committee.
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Ukrainians warned about scammers
Getmantsev also warned Ukrainians about possible actions of scammers.
“If they call you, send messages about the need to go somewhere to “exchange banknotes”, offer to deposit them on cards with someone else's details, warn about very tight deadlines, after which the money will “burn”, etc. – do not believe them, these are scammers,” the MP said.
He urged under no circumstances to do anything from what is suggested and, if possible, to report such cases to the police and the NBU.
Recall that the day before, the NBU announced that from August 1, 2024, they will begin to withdraw old-style 500 UAH banknotes (2003-2007) from circulation in order to gradually replace worn-out money with new ones.
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Old 500 hryvnia banknotes will be withdrawn from circulation!
