A new 500 HUF banknote will soon be circulated by the National Bank of Hungary.
According to MTI, the new notes will be issued in two stages. Firstly, the upgraded 500 HUF banknote will become national legal tender from July 4th, 2018.
The first stage will include ensuring the new notes will be accepted and processed by machines and ATMs. The NBH will also call on operators of parking ticket, transport ticket, drink or food vending machines to start preparing their equipment as soon as possible.
The second stage includes making the notes accessible to the public. The public will be able to use the upgraded 500 HUF notes from February 1st, 2019, after the preparation period has been completed.
Consumers will be able to use the current 500 HUF note until October 31st, 2019. After that date, the NBH will withdraw them, and from November 1st, 2019 only upgraded 500 HUF notes will be available.