These new designs are expected to display a completely different visual identity from the banknotes currently in circulation, with reinforced security features and imagery intended to make them more recognisable and relatable across Europe.

As reported by Euronews, the ECB has shortlisted two possible themes for the new designs: one focusing on European culture and the other drawing inspiration from the continent’s natural environment.

The cultural option could feature prominent figures from areas including art, music, science and literature, while the nature-themed design would instead incorporate European rivers and birds.

Europeans to have their say

The final design will be influenced by a public consultation launched by the ECB, allowing people across the eurozone to express their preference.

Doris Schneeberger, the ECB official responsible for banknotes, told Euronews that millions of Europeans have already taken part in the consultation.

The winning concept is expected to be announced in December 2026, although it will be several years before the new notes reach people’s wallets.

A banking industry source cited by Euronews suggested that the redesigned banknotes could enter circulation as early as 2029.

Cash will not disappear

The redesign comes as digital payments become increasingly common and preparations continue for the possible introduction of a digital euro.

However, the ECB has stressed that the digital currency is not intended to replace physical cash.

Schneeberger used the analogy of renovating a house to explain the ECB’s approach, arguing that there would be little point in investing in a renovation if the building were about to be demolished.

Therefore, the message from the central bank is that banknotes and coins will continue to have a role alongside digital forms of payment.

Digital euro

The ECB also wants to counter concerns that a digital euro could eventually bring an end to physical money.

According to Euronews, the central bank aims to ensure Europeans retain access to public money, whether through traditional notes and coins or through a future digital version of the euro.

The digital euro could become available from 2029, subject to the necessary legislative and technical preparations.

However, rather than replacing cash, it is intended to give consumers another way to make payments, meaning that people would still be able to choose between cash, a digital euro and other existing payment methods.

Public money

The euro banknotes and coins are classified as public money because they are issued and backed by a public authority: the central bank.

Furthermore, commercial banks also hold reserves with central banks, which form another part of the public-money system.

Meanwhile, private money is primarily created by commercial banks and exists largely as deposits held in current and savings accounts, underpinning many everyday transactions, including card payments and bank transfers.

A major change to the notes

The euro has been in circulation since 2002, but its banknotes have undergone only one significant visual update.

This original series used the theme of “ages and styles”, with windows, doors and bridges representing different periods of European history.

The Europa series was gradually introduced between 2013 and 2019, bringing updated security and graphic features while retaining much of the original visual concept.

These existing designs use fictional monuments rather than real buildings.

The next generation is expected to take a different approach, potentially featuring real people, buildings, birds and other imagery designed to create a stronger connection between the banknotes and the people who use them.

Despite the rise of contactless and digital payments, the ECB’s investment in a new generation of physical banknotes is intended to underline one point: cash is not being phased out.