Among Canadian currency

Canadian dollar

The Canadian dollar is the currency of Canada. As of 2007, the Canadian dollar is the 7th most traded currency in the world. It is abbreviated with the dollar sign $, or C$ to distinguish it from other dollar-denominated currencies...

, only five different banknotes are currently printed. Smaller denominations have been replaced by coins, and larger ones are felt to be no longer required in an era of electronic transmission of most large transactions. These defunct denominations are said to be withdrawn from circulation.

Although currency withdrawn from circulation is still legal tender

Legal tender

Legal tender is a medium of payment allowed by law or recognized by a legal system to be valid for meeting a financial obligation. Paper currency is a common form of legal tender in many countries....

, it is disposed of by the Bank of Canada

Bank of Canada

The Bank of Canada is Canada's central bank and "lender of last resort". The Bank was created by an Act of Parliament on July 3, 1934 as a privately owned corporation. In 1938, the Bank became a Crown corporation belonging to the Government of Canada...

 when returned to them.