The Bank of Spain has announced that from April certain €50 banknotes will no longer be accepted as legal tender.
The Bank of Spain has announced that from April certain €50 notes will no longer be valid as legal tender in the country.
€50 banknotes, along with €20 notes, are still very commonly used in Spain. However, as of April, certain flawed €50 notes will no longer be accepted in shops.
This is because billetes de €50 are among the most susceptible to counterfeiting and, crucially, most likely to be damaged or stained by anti-theft systems, present in all money transport mechanisms as well as in cash points, which are activated when a possible theft attempt is detected.
The notes to be phased out are those that show visible signs of having been tampered with or damaged by anti-theft protection systems.
Usually, they release ink that stains the banknote. It is irreversible, so cannot be removed in any way.
When this happens, the bank note is useless for future transactions and operations. Although it does not necessarily mean that the banknote is counterfeit, the Bank of Spain has ordered their withdrawal from public circulation.
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Therefore, the measure does not affect all banknotes. Only those €50 banknotes that have stains of purple or blue ink, as well as sticky substances or strange marks that are not the result of the normal wear and tear of the note itself.
The Bank of Spain has insisted that shops do not accept them and has asked Spaniards to be careful when exchanging or withdrawing money.
El Banco de España also advises that, in the case anyone comes across a €50 banknote that may have been stolen because it has stains or marks, it must be taken to a bank branch for analysis with a view to possibly getting the amount refunded.
