Europe is decommissioning the 500-euro bill

This forum is to give advise or warning to anyone planning to travel to potentially dangerous places. If you know of any travel warnings or have first hand knowledge please share your information or advise.
Faerie
Posts: 12
Joined: Thu Feb 16, 2017 3:45 pm
Gender: None specified - None specified

Europe is decommissioning the 500-euro bill

Postby Faerie » Thu Feb 16, 2017 3:49 pm

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.



Arya Snark
Posts: 15
Joined: Mon Feb 20, 2017 11:28 pm
Gender: None specified - None specified

Re: Europe is decommissioning the 500-euro bill

Postby Arya Snark » Mon Mar 06, 2017 12:37 am

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.

Dove
Posts: 4
Joined: Thu Mar 09, 2017 10:13 pm
Gender: None specified - None specified

Re: Europe is decommissioning the 500-euro bill

Postby Dove » Sat Mar 11, 2017 12:11 am

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.


Return to “Travel Warnings”

Who is online

Users browsing this forum: No registered users and 1 guest