However, the bank says the decision to remove legal tender status from these bills will have little impact on the majority of Canadians. The Bank of Canada (BoC) issued a reminder on Thursday that hundreds of millions of $1, $2, $25, $500, and $1,000 bank notes will have their legal tender status removed as of Jan. Any Canadians who have old paper bills in their wallets have until the end of the year to use them in day-to-day transactions before merchants no longer have to accept them.
