01.06.2021.

Successful exchange of eighth-series Swiss franc banknotes – NBS exchanges banknotes worth CHF 227.1 million

The deadline within which the NBS enabled banks to exchange eighth-series Swiss franc banknotes – for ninth-series banknotes free of charge, and/or for foreign exchange – under regular conditions applicable to the exchange of circulating banknotes (although eighth-series notes have been recalled by the Swiss National Bank (SNB) as of 30 April) expired on 31 May 2021. 

During May the NBS exchanged eighth-series banknotes worth CHF 227.1 mn in total, of which 44% (CHF 99.7 mn) for ninth-series banknotes and 56% (CHF 127.4 mn) for foreign exchange in the same currency. These figures show that the NBS’s unique initiative to extend the exchange of non-circulating banknotes under favourable conditions by one month with a view to supporting citizens was remarkably successful, given that a great number of citizens managed to exchange the recalled banknotes with banks and authorised exchange dealers in the Republic of Serbia. For the sake of reminder, back in December 2020 the NBS informed the public about the announced recall of the eighth-series franc notes, and then provided an additional one-month period after the recall date (30 April 2021) to ensure banknote exchange under favourable conditions also to citizens who did not exchange their notes by that time.

Starting from 1 June 2021, banks and authorised exchange dealers can, in accordance with applicable regulations, but are not obligated to, receive eighth-series franc banknotes from citizens.

If they do receive them after this date, they will do so under the conditions and at fees decided at their discretion. The NBS will continue to exchange eighth-series franc notes to banks, but under the conditions applicable to non-criculating banknotes.Also, the NBS does not engage in any transactions with natural persons, meaning that citizens cannot exchange Swiss francs at the NBS.

The eighth-series franc banknotes and earlier recalled sixth-series banknotes can be exchanged, for an unlimited period of time and free of charge, at the SNB counters in Berne and Zurich or at SNB agencies in major Swiss cities. Note that the first five series of the Swiss franc can no longer be exchanged at the SNB, as well as that the seventh-series franc notes form the reserve series that has never been released. Another important piece of information is that the recalled sixth- and eighth-series franc notes can also be sent to the SNB by post – their total nominal value will be transferred to one’s bank account in the Republic of Serbia.

Detailed information about the terms and conditions of exchanging the recalled banknotes and an overview of all Swiss franc series are available on the SNB website:

Governor's Office