Are old euro banknotes still valid in France?

Reader Question: I had some difficulty paying with old euro banknotes last week at a supermarket, as the cashier was reluctant to accept them. Are they still legal tender? 

You are referring to some of the original euro banknotes which were first produced in 2002 when countries in the Eurozone switched currencies. 

These notes are gradually being replaced with modern notes of the ‘Europe’ series, which entered into circulation starting in 2013 and have features intended to make their harder to counterfeit.

Older notes are being gradually taken out of circulation.

However, the European Central Bank states on its website that these older banknotes are “legal tender and will always retain their value.”

“They will continue to circulate alongside the ‘Europe’ series until stocks run out,” it adds.

This includes banknotes with a value of €500 originally in circulation, that were not reissued in the ‘Europe’ series. 

Banknotes can only be refused by shopkeepers in case of damage. 

This also goes for payments with coins, although there is a limit on trying to make a purchase with excessive amounts of coins. 

Read more: Can shops in France refuse to take payments in cash?

Exchanging banknotes 

You do not need to exchange these older banknotes, as they can still be used as legal tender. 

However, damaged banknotes can be exchanged at certain La Poste or Banque de France offices – a full list of eligible offices can be found here. 

This includes notes that are torn, badly marked etc, however, at least half of the surface of the note must still exist.

Some Banque de France offices will give you replacement banknotes in kind (indicated in the list linked above), but at other offices, and all eligible La Poste centres you will receive a bank transfer for the amount in question.

You will need to provide valid ID, as well as your bank details. 

The Banque de France may ask for proof of the origin of the funds (justificatif d’origine des fonds) such as bank statements, tax returns, receipts of cash withdrawals, etc. 

There is no limit on how many bank notes can be exchanged, however non-residents wishing to exchange more than €10,000 will need to complete a customs declaration form (Cerfa no. 13426). 

It is also worth noting the central banks of some European countries will still exchange pre-euro coins and banknotes, as the European Central Bank states.

However, France stopped exchanging francs for Euro in 2012. 

Read more: What can I do with my old euro coins in France?