Sunday , July 25 2021

OeNB terminates the issuance of EUR 500 accounts

Oesterreichische Nationalbank (OeNB) and Deutsche Bundesbank will stop issuing banknotes of 500 euros on Friday. For both central banks, there was an exception, as accounts were used relatively often in these countries. All other central banks in the euro area had already closed the issue in late January. All banknotes in circulation continue to be valid.

The 500-euro mark recently represented only 2.3% of the total volume in the euro area. The bill was last printed in 2014. According to the European Central Bank (ECB), the banknote is used mainly by criminals to hide illegal income and money laundering.

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