What is the currency in Amsterdam

Cash exchange in the Netherlands

Exchange deadlines: banknotes by 1/1/2032, coins by 1/1/2007

Changeover scenario at a glance
Central bank: Nederlandsche Bank NV
The following can be exchanged: Dutch guilders (NLG); Banknotes until 1.1.2032, coins until 1.1.2007, maximum amount: NLG 5,000 (EUR 2,268.90) per person and day, identification required
Opening times: Monday to Friday: usually 9 a.m. - 12 p.m.
Central Bank branches
Amsterdam, Westeinde 1, Tel. 020/5 24 91 11
Eindhoven, Dr Holtroplaan 1, Tel. 040/2 52 24 20
Hoogeveen, Schutlandenweg 1, Tel. 0528/26 88 55 Wassenaar, Rijksstraatweg 334, Tel. 070/5 17 64 00

Changeover scenario in detail

Prepare for the cash changeover

Start of pre-release to financial institutions
Banknotes and coins: December 1st, 2001


Start of pre-distribution to retailers and cashiers
In the 51st calendar week (December 17, 2001); For training purposes, small stocks of banknotes and coins can be made available to retailers as early as October.


Starter packages for retailers
Two types of starter packs: one with coins of 0.05, 0.10, 0.20, 0.50, 1 and 2 euros (2 rolls per denomination); and one with coins of 0.01 and 0.02 euros (10 rolls per denomination)


Beginning of pre-issuance of coins to the public
December 17, 2001


Starter kits for the public

The Dutch bank and the Ministry of Finance will be giving out free starter kits, each with one coin per denomination (3.88 euros), to all citizens aged 6 and over. Banks and retailers are given the opportunity to sell larger starter kits worth 25 Dutch guilders (11.34 euros).


Timely consumption of hoarded coin stocks
The banks are expected to run a targeted campaign to collect hoarded coins in October and November 2001.



Parallel rotation phase: mass issuance

Cessation of the issuance of national banknotes and coins by the banks
December 31, 2001


Amount and frequency of free exchanges for bank customers
Private customers can deposit national currency into their account until April 1, 2002 and withdraw euros free of charge.


Recommendation to retailers to only give change in euros
Basically, retail will change change from January 1st, 2002
only issue in euros.


Percentage of ATMs to be converted in the first 2 weeks
100%


Denominations issued by ATMs in the first 2 weeks
should be
5, 10, 20, 50 euros


Other targeted measures for the first issue of 5 and 10 euro notes

In order to be able to give change only in euros, the retail trade will receive a substantial inventory of 5 and 10 euro bills at the beginning of January 2002. Coupled with issuance via ATMs, this should ensure that the public will have a sufficient amount of 5 and 10 euro notes after a few days.


Parallel rotation phase: remaining period

Expiry of national banknotes and coins as legal tender
January 28, 2002, midnight


Expected stock in circulation after the first two weeks
After the first two weeks, over 95% of cash transactions should be in euros.


Measures to withdraw the national coins

The banks will do the exchange free of charge for some private customers (for administrative reasons, the banks will
presumably require the national currency in a checking account
is paid in, whereby euros can be withdrawn at the same time).
This is likely to overload the retail trade with the exchange
Dutch guilders in euros can be prevented.


Regulations after the end of the parallel circulation

Deadline for exchanges at commercial banks after expiry as statutory
Means of payment
Commercial banks become national currency until December 31st
Exchange 2002; for private customers this is free of charge until April 1, 2002.


Deadline for redemption after expiry of legal tender banknotes - coins)
The Dutch bank will exchange guilder coins until January 1, 2007 and guilder notes until January 1, 2032.


Website
www.euro.nl



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