Eesti Pank is in constant contact with the banks and all the ATMs are working without interruption, and all the commercial banks are also being supplied with cash without any interruption. There have been moments in the past few days when withdrawals of cash from ATMs have temporarily increased. The cash handling company G4S has kept all of the ATMs full without interruption and even when demand has temporarily increased. Eesti Pank is ready to meet all the requirements of the banks for additional cash.
At the present moment as coronavirus spreads, the central bank advises people to use contactless payment cards, which are the best option possible for helping prevent the spread of the virus, or smartphone payments. Hygiene rules must certainly be followed carefully by people who have handled cash or entered their pin code into a card payment terminal.
Euro cash has been in use since 2002 and is now used by more than 338 million people in 19 European countries. Since 1 January 2011, the euro has been the only legal tender in Estonia.
The other countries besides Estonia in the euro area are Belgium, the Netherlands, Germany, France, Italy, Ireland, Austria, Finland, Spain, Portugal, Luxembourg, Greece, Slovenia, Cyprus, Malta, Slovakia, Latvia and Lithuania. Andorra, Monaco, San Marino and the Vatican also use the euro under an official agreement with the European Union.
There are seven different denominations in the euro banknote series. The banknotes come in different sizes and banknotes with higher face value are larger. The notes depict architecture styles from different eras in European cultural history. The first series of banknotes was designed by Robert Kalina.
The designs, colours and sizes of the euro banknotes
|
Nominal value |
Dimensions |
Main colour |
Motif used in the design |
|
500 |
160 × 82 mm |
Purple |
Modern 20th century architecture |
|
200 |
153 × 82 mm |
Yellow-brown |
19th century iron and glass architecture |
|
100 |
147 × 82 mm |
Green |
Baroque and rococo |
|
50 |
140 × 77 mm |
Orange |
Renaissance |
|
20 |
133 × 72 mm |
Blue |
Gothic |
|
10 |
127 × 67 mm |
Red |
Romanesque |
|
5 |
120 × 62 mm |
Grey |
Classical |
The date when the second series of 50-euro banknotes is to be issued will be announced on 5 July. The 50-euro note is the most widely used denomination in Estonia and in the euro area as a whole. The new banknotes have upgraded security features to ensure that the euro notes can be trusted and are protected against counterfeiting. For more on the second series of banknotes, see here.
Notes and coins
- EuroEesti Pank makes sure that there is sufficient good-quality money available in Estonia and works with the European Central Bank and other central banks in the euro area to release euro banknotes and coins into circulation.
- Estonian kroonEesti Pank will exchange Estonian banknotes and coins for euros indefinitely.
- Commemorative and collector coinsCollector coins are legal tender, but their high value means they are more usually used as souvenirs and collectors items than as circulation coins. €2 commemorative coins are special circulation coins with a special design on the national side in commemoration of a particular event or topic.
- CounterfeitsAnybody can verify the authenticity of a banknote easily if there is a suspicion that it is counterfeit by just feeling it, looking at it and tilting it, checking the security features, or comparing it to an authentic banknote. If it is suspected that a banknote is counterfeit, the police should be informed.
- To professional cash handlersCompanies can return banknotes into circulation only once the notes have been tested to European standards. Companies can test cash using specially designed devices or, if they do not have any, manually.