Pay with a 500-euro note: where and how long can it go?

If you want to pay with a € 500 bill at the cash register, this is generally possible, but there are a few exceptions. It will soon be abolished. In this article, we show you what you need to consider.

Pay with a 500 euro note: you have to be aware of that

• Cash is the only legal tender. Every person must be able to make all purchases in cash. This means that every retailer must also offer cash payment or a bank transfer at the bank.
• Large notes, such as the 500 euro note, are not exempt from this rule. However, traders can refuse acceptance if the amount to be paid is not in proportion to the offered ticket.
• If you would like to pay three rolls with a 500 euro note, the dealer can refuse to accept them. However, there is no precise regulation of the amount from which the certificate must be accepted.
• Despite this regulation, many supermarkets and petrol stations refuse to accept such a large bill. The fear of counterfeiting and the associated financial loss is simply too great for many traders.

The end of the 500-euro note is approaching: How long is it still valid?

• A little less than 600 million 500-euro notes are currently in circulation. According to the European Central Bank, the purple glow is the "criminals' favorite glow".
• For this reason, the 500 should be abolished promptly. Since April 2019, the purple banknote has no longer been issued by the Bundesbank to other banks. Then the notes should be gradually withdrawn from circulation.
• This means that if a 500-euro note ends up at a bank, it will not be put into circulation again. If you still have one or more 500s, an exchange is not necessary. The note keeps its value, probably forever.
• However, the Bundesbank board member Carl-Ludwig Thiele did not rule out a comeback of the 500-euro bill. In the next 10 years, a new series of banknotes will probably be put into circulation, the 500 could then come back again. You can read the complete interview in this CHIP article.