FOR IMMEDIATE RELEASE
This press release was originally posted on May 31, 2019.
In accordance with amendments to the Bank of Canada Act and the Currency Act approved by Parliament in 2018, the federal government recently decided to remove legal tender status from some older bank notes as of January 1, 2021. This change will affect the $1, $2, $25, $500 and $1,000 notes, which are no longer being produced. Essentially, this means that Canadians will no longer be able to use them in transactions.