When do Euro banknotes expire and what are the best ways to store paper money

Compared to the past, the circulation of cash decreased significantly even in Italy. Both because there are legal limits on cash payments, and because more and more Italians now, even for coffee and for the newspaper, are paying with electronic money.

However, for those who cannot do without cash, let’s see when and whether a deadline for euro banknotes is set. Let’s see, then, also what paper money storage systems are. This is advice for collectors, but also for those who, on the other hand, still usually put money under the mattress or under the tile.

When do Euro banknotes expire and what are the best ways to store paper money

In this regard, it must be said that there are no time limits for euro banknotes, including 500 euro banknotes. Hence, there is no deadline. If you withdraw batches of banknotes, you never have to worry about replacing them with new or different ones. It is also the banks that initiate the withdrawal of the banknotes to be exchanged.

As for when the euro banknotes expire, the answer will never be. The Bank of Italy reported this through its website. In other words, euro banknotes will always retain their value. Likewise, euro banknotes can always be exchanged at the central banks of the euro system.

Instead, let’s now see, as mentioned above, the best systems for storing banknotes.

How to store paper money, from protective bags to films, and what to do when it’s damaged

In order to preserve the euro banknotes over time, and in general for all fiat currencies, there are customized solutions on the market. Protective envelopes of banknotes and covers, made of certain resistant polymers, also protect paper money, among other things, from the influence of ultraviolet rays of the sun.

However, what do you do when the banknotes are torn or very damaged? In this case, there is the Bank of Italy, which is responsible for the withdrawal. In fact, it is enough to go to any branch of the Bank of Italy for the exchange. The responsible person at the counter will check and assess whether the damaged banknotes or banknotes meet the required requirements in order to get immediate compensation.

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