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How to get your hands on Sweden’s new coins

The second batch of Sweden's new currency is going into circulation today as part of a huge project designed to replace hundreds of millions of banknotes and coins across the country.

Published: 3 October 2016 10:42 CEST
Updated: 3 October 2016 11:47 CEST
How to get your hands on Sweden's new coins
Riksbank head Stefan Ingves depositing some of his old cash. Photo: Anders Wiklund/TT

The Nordic nation is introducing new editions of the 100-krona and 500-krona banknotes on Monday, as well as new versions of the one-krona and five-kronor coins. A new two-krona coin is also being released, some four decades after it was scrapped in the 1970s. The current ten-krona coin will stay the same.

Swedish movie star Greta Garbo and opera legend Birgit Nilsson are depicted on the new 100-krona and 500-krona bills. The current banknotes as well as all older coins – with the exception of the ten-kronor coin – will become invalid after June 30th next year.

“It will be a huge challenge to collect all of the 2.5 billion kronor in coins that will become invalid next summer,” said the head of the Riksbank, Stefan Ingves, in a press statement.

The new money will be phased into circulation in the coming months, but those particularly keen on getting their hands on it were able to queue up at the Central Bank – the Riksbank – in central Stockholm between 2pm and 7pm on Monday afternoon.

Those wanting to get rid of their old coins can either use them to make purchases in stores before June 30th, or deposit them at for example banks or exchange offices across Sweden listed on this map, set up by the Riksbank. 


The new 100-krona banknote. Photo: Anders Wiklund/TT

Sweden's old 20, 50 and 1000-krona banknotes went out of circulation earlier this year as they were replaced by new bills. Anyone who missed that deadline can still exchange the old notes for a 100-krona fee by sending the notes to the central bank.

In August the Riksbank reported that around 82 percent of the old notes had been deposited, but tender to the tune of 1.3 billion kronor was still out there, expiring in piggy banks and pockets.

Exactly what Swedes are doing with the missing cash is not clear, but there’s a good chance that much of it is hiding in drawers in the famously cash-averse country. Sweden is one of the countries that has come furthest towards becoming a cash-free society, with cash transactions accounting for just two percent of the value all payments.

Researchers from Oxford University discovered in 2013 that Sweden's cash was among the filthiest in Europe, with bank notes containing more bacteria than all others across the continent. 

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MONEY

How to avoid falling victim to tax scams in Sweden

Sweden's tax agency, Skatteverket, warns of an increase in scams when it's time for Swedish tax-payers to declare their taxes.

Published: 12 March 2024 13:40 CET
How to avoid falling victim to tax scams in Sweden

Anyone who earned more than 22,208 kronor last year received their tax returns digitally last week, marking the start of tax season.

That also means an expected peak in tax-related scams, Skatteverket warns.

Most of the scams are so-called phishing scams, meaning attempts to steal the victims’ personal information. Fraudsters may for example email a person, pretending to represent Skatteverket, and ask them for, among other things, their banking details.

“We’re seeing these in all channels. They use fake emails, SMS, letters and in some cases even phone calls. It is particularly common in tax declaration times – just when we’re about to send out the tax returns, the e-service opens and it’s possible to declare – but above all when it’s time for tax rebates,” Jan Janowski, a Skatteverket expert, told Swedish news agency TT.

A scam email might for example state that you’re entitled to a tax rebate and that you should click a link to receive it. Don’t click any links, open any attachments or reply to the message. Skatteverket advises that you immediately delete the email or text message.

Another common scam is that you receive a text message claiming to be from Skatteverket, telling you that you owe them money and you need to log in to calculate the amount. The website you’re urged to log in via does not belong to Skatteverket. Don’t click the link.

The agency stresses that it never asks people for their banking details. The exception is that you may be asked for your bank account information if you log into Skatteverket’s website to declare your taxes, but that always first requires you to log into the site.

To receive your tax rebate, you need to inform Skatteverket of your bank account number. You do this not by clicking a link in an email or SMS, but by logging into their website using a digital ID, for example BankID, and submitting your details. Only do this on your own initiative. If someone calls you and asks you to log in with your BankID during the phone call, don’t do it. That’s another common scam.

Skatteverket will also never call you to ask for your bank account or credit card number.

It will be possible to declare your taxes from March 19th. You’ll receive any tax rebate you’re owed by mid-April or early June, depending on when you submit your tax return. These are the dates when fraudsters are likely to attempt the most scams.

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