All previous issues of Australian banknotes retain their legal tender status. However, it is a long time
since some of these banknotes actively circulated in Australia and many retailers and
members of the public may be reluctant to accept them if they are not familiar with
the designs and may suspect them to be counterfeit.
The Reserve Bank, and most commercial banks, will redeem old Australian
banknotes at face value. If you take your old banknotes to a commercial bank they
may exchange them for current banknotes. Please bear in mind that a commercial bank
may require time to confirm that a banknote from a previous banknote series is
genuine or may need to send such banknotes to the Reserve Bank for confirmation.
Alternatively, you can exchange your old banknotes for current banknotes at the
Sydney Head Office or Canberra branch.