If you find an old banknote at the back of a drawer, the first thing to do is check exactly which version it is. Currently, 5,000 and 10,000 forint notes remain in circulation, but the Hungarian National Bank (MNB) has withdrawn their earlier versions.
Here are the deadlines for exchanging old Hungarian banknotes:
- Old 10,000 forint version: Withdrawn on December 31, 2019. The MNB will exchange it at face value until December 31, 2039.
- Old 5,000 forint version: Withdrawn on July 31, 2017. Exchangeable at the MNB until July 31, 2037.
- Old 20,000 forint version: Withdrawn on December 31, 2017. Exchangeable at the MNB until December 31, 2037.
- Old 2,000 forint version: Withdrawn on July 31, 2017. Exchangeable at the MNB until July 31, 2037.
- Old 1,000 forint version (1998): Withdrawn on August 31, 2007. Exchangeable at the MNB until August 31, 2027.
- Old 1,000 forint version (2006/2009): Withdrawn on October 31, 2018. Exchangeable at the MNB until October 31, 2038.
| Denomination | Withdrawal Date | Exchange Deadline |
|---|---|---|
| 10,000 forint version | December 31, 2019 | December 31, 2039 |
| 5,000 forint version | July 31, 2017 | July 31, 2037 |
| 20,000 forint version | December 31, 2017 | December 31, 2037 |
| 2,000 forint version | July 31, 2017 | July 31, 2037 |
| 1,000 forint version (1998) | August 31, 2007 | August 31, 2027 |
| 1,000 forint version (2006/2009) | October 31, 2018 | October 31, 2038 |
It’s important to know that withdrawal does not mean a denomination is completely invalid. You may still have a perfectly valid note of the same denomination today, as the MNB only withdrew an earlier design.
How to Exchange Old Banknotes
For the first three years after withdrawal, commercial banks and post offices were required to exchange the old notes. This mandatory period has now expired for all the listed versions, so banks and post offices are no longer obliged to handle exchanges, though some locations may still offer the service.
However, the MNB itself will exchange the withdrawn banknotes until the specified 20-year deadline.
You can handle the exchange in person at the MNB’s public cash desk in Budapest at 1 Kiss Ernő utca in the 5th district. You can also send the banknotes by post to the Hungarian National Bank at 1850 Budapest. The MNB will then send the equivalent value to you by postal money order or bank transfer.
Mailing Tips
Do not send old banknotes in a simple letter. When sending cash by mail, you must follow the current mailing conditions of the Hungarian Post. It is advisable to send it as a registered trackable shipment with declared value.
It’s wise to take photos of the banknotes and their serial numbers and keep all mailing receipts.
If the tracking shows the shipment did not arrive, you can file a claim with the Hungarian Post. If the MNB has received the shipment but there is an issue with the exchange, you can contact the central bank’s cash desk at penztar@mnb.hu.
