Tuesday 31 January 2023

¢20,000 and ¢50,000 cotton paper notes go out of circulation today, but they do not lose value

Users can exchange their bills at banks or deposit them to their bank accounts

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28 January 2023 - At The Banks - BCCR

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QCOSTARICA – The ¢20,000 and ¢50,000 banknotes printed on cotton substrate will go out of circulation as of today, February 1, 2022. However, they do not lose their monetary value, they can be exchanged or deposited at banks across the country.

The exchange or deposit of the old bills will be maintained indefinitely in the country’s financial entities.

“Neither at this time nor after next January will these bills lose their monetary value, in such a way that no citizen will lose the value of their bills or their money, since the exchange or deposit of the bills will remain indefinitely in the entities the country’s financial institutions”, they pointed out from the institution through a press release from the Banco Central de Costa Rica (BCCR) – Central Bank.

The exchange or deposit of the old bills will be maintained indefinitely in the country’s financial entities.

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In the event that customers face problems exchanging or depositing bills at banks or ATMs, it is recommended that they report to the BCCR by calling 2243-3333 or emailing atencionalcliente@bccr.fi.cr.

Read more: ¢2,000, ¢5,000, ¢20,000 and ¢50,000 banknotes printed on cotton paper lose value in 2022

The new series of banknotes, issued by the Central Bank, received an award as the Best Series of New Banknotes in Latin America for 2021, as announced by Reconnaissance International.

Other withdrawals

The ¢5,000 and ¢2,000 bills issued in cotton will also be withdrawn from circulation, as follows:

  • On March 1, 2022, ¢5,000 bills, issued on cotton paper, are withdrawn from circulation. From that date, they can be exchanged or deposited in financial institutions.
  • On May 1, 2022, ¢2,000 bills, issued on cotton paper, are withdrawn from circulation. From that date, they can be exchanged or deposited in financial institutions.

For the ¢1,000 and ¢10,000 bills printed on cotton paper, the Central Bank has not yet issued a date to retire them and will coexist as a means of payment with the new bill printed in polymer (a material similar to plastic) that was put into circulation in mid-October.

 

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