The EU apparently decided that the 500-euro bill is used in too many under the table deals, includind illegal transactions and criminality, because of it's high value and the small space that it takes (a 500 euros is now roughly 575$). That allowed people to transport millions of dollars in suitases or other bags with minimal effort.
So by the end of 2018 the highest acceptable euro bill will be the 200-euro.
So if anyone has left over 500 euro bills from travelling to Europe, and they don't want it to be a collectible (ergo you'd like to spend it sometime), don't forget to change them at your local banks by 2018.
Europe is decommissioning the 500-euro bill
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Re: Europe is decommissioning the 500-euro bill
I'm OK with this, since 500 euro wasn't very practical anyway, when you need to pay that large sum it's more convenient to use an ATM card or make a bank transfer. I've read once that Interpol police nicknamed the 500 Euro banknote as "bin Laden" due to how often it was used by criminals - we, as society, will probably benefit in long run from this change.
Re: Europe is decommissioning the 500-euro bill
In my country you could not trade to the local currency if you were trying to do so with a 500 euro bill by disposition of the Central Bank, precisely for what it is pointed out. I usually don't go around with money, I'm an avid card user and I feel nervous carrying around bills in general. I see this measure correct, as it is already difficult for the holders of the currency to make use of it.
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