The Magyar Nemzeti Bank has extended the exchange periods for three banknotes of its old-style series last withdrawn from circulation. Accordingly, the purple 500 forint notes (featuring Endre Ady) and the green 1000 forint notes (featuring Béla Bartók) can be exchanged for their face value until 1 September 2019 and the brown 5000 forint notes (featuring István Széchenyi) can be exchanged until 27 July 2019.

The Magyar Nemzeti Bank started to issue new-style banknotes of its series currently in circulation in 1997, replacing the old-style banknote series in circulation since 1947. The banknotes of the old series could be used to pay for goods in shops last in 1999, and the Bank had planned to exchange the old 500, 1000 and 5000 forint notes for legal tender until 31 December 2009.

However, the Bank has found that households continue to hold large amounts of these three banknotes: 3.1 million of the purple Ady notes, 3.3 million of the green Bartók notes, and 0.6 million of the brown Széchenyi notes have not yet been exchanged for legal tender. In the Bank’s experience, 1000–2000 old banknotes are presented for exchange monthly.

The Bank, therefore, has decided to extend the period of exchange for these banknotes uniformly to 20 years from the date of withdrawal of all banknotes. Accordingly, the purple Ady 500 forint notes and the green Bartók 1000 forint notes can be exchanged for legal tender until 1 September 2019 and the brown Széchenyi 5000 forint notes can be exchanged until 27 July 2019.

The old banknotes can be exchanged at the Counter of the Magyar Nemzeti Bank at 7 Hold utca, Budapest V on working days between 8 am and 2 pm. The banknotes can also be sent by registered mail to the Bank’s postal address: 1850 Budapest. The old banknotes can be exchanged with the Bank for legal tender at face value, i.e. they will remain payable until the end of the exchange period.

Certain credit institutions and post offices will continue to exchange the old banknotes or accept them as payment for services.