More than £19 billion worth of banknotes are still in use, but from October they will no longer be accepted as a means of payment. 30 September 2022 is the last day you can use our paper tickets worth £20 and £50. The Bank of England said: «Banknotes are resistant to dirt and moisture and therefore stay in better condition longer. These notes also have touch functions that allow blind and visually impaired people to use them. «ANYONE with £20 paper notes has only a few days left to spend them. All Bank of England polymer banknotes can be used as legal tender in the UK after 30 September. Damn your pockets, purses and the back of your couch for your old £20 bills. Paper notes of £20 and £50 will be phased out after the introduction of plastic banknotes. However, the Bank of England warns that people should be «aware that banknotes are sent at their own risk» and encourages people to «take appropriate measures to insure themselves against loss or theft». The old paper notes of £20 and £50 will no longer be legal tender. But in March, the Bank of England said there were still £7 billion worth of £20 notes and £10.5 billion worth of £50 notes in circulation. Friday is the last day Bank of England-style banknotes will be legal tender after being replaced by polymer versions It came out with the old and with the new in 2022, with the old expiry date of the £20 note and the old £50 note (opening in a new tab) taking place in 2022.
The Bank of England is withdrawing paper notes from circulation after the publication of the new £20 and £50 notes (opens in a new tab) in 2020 and 2021. This means that you have to spend them before the end date or exchange the tickets, otherwise you will not be able to use them as legal tender. Cash notes of £20 and £50 are no longer legal tender after 30 September 2022. The old £20 notes expire on 30 September 2022. After this date, cafes, bars, shops and restaurants will no longer accept the £20 paper bill. This is precisely the same day as the old expiry date of the £50 note. The old version of the 1-pound coin can also be deposited with high-street banks – but should not be issued in stores. If you can`t meet this deadline, there`s always a way to exchange your old £20 paper. After this date, many UK banks accept withdrawn banknotes as customer deposits.
Some post offices may also accept withdrawn tickets as a deposit to any bank account you can access with them. The new 20-pound plastic and polymer notes feature an iconic new image as well as improved security features to prevent fraudulent activity. It has already been called «the safest banknote to date» because the new security features include a hologram and a transparent window – two features that are almost impossible to copy accurately. The old 20 and 50 pound notes will be superfluous from 30 September to take action against counterfeit money. The £20 paper will remain legal tender until 30 September 2022. You can also exchange paper notes for new polymer notes at face value directly at the London-based Bank of England. When the paper notes are returned to the Bank of England, they will be replaced by the new £20 polymer notes with JMW Turner and the £50 polymer notes with Alan Turing. Once the deadline of 30 September 2022 has passed, you will no longer be able to use Bank of England paper notes in stores or use them to pay businesses. Polymer notes have different safety features. Find out how to check all our banknotes «Many of these paper slips were returned to us and replaced with the £20 polymer with artist J.M.W.
Turner and the £50 polymer with scientist Alan Turing. However, if the public still has one of these paper notes in their possession, they should deposit or issue it for as long as they can. «There is not much time left to use paper notes that are still in circulation. If you miss that deadline, the Bank of England has said that many banks will accept «withdrawn notes as customer deposits,» as will the post office. Focus on these two main security features to confirm that your banknotes are genuine: many banks and some post offices accept old £20 notes as a deposit into a bank account. Tomorrow, these paper tickets will no longer be legal tender and will no longer be accepted in stores. Download our free training material to check your banknotes. Yes, old £20 notes are still legal tender. And you can still use those paper notes to make purchases for now.
The old £20 notes will remain valid until the expiry date specified by the Bank of England in September 2022. To send them by mail, fill out an exchange form and send it with the tickets and photocopies of your identity card and proof of address. The Bank of England has stated (will be opened in a new tab) that many banks will still accept «withdrawn notes as customer deposits», just like the post office. You can also exchange paper notes for the new polymer notes directly at the London-based Bank of England. It is important to know when the old £20 notes expire, as the Bank of England`s payment date is this year. If you have paper notes of 20 or 50 pounds, we recommend that you use them before September 30, 2022 or deposit them with your bank or post office. If you have old legal tender, such as a £5 or £10 paper note, you can exchange or deposit it using this method. The 5- and 10-pound notes have already been completely replaced, with the paper notes in these denominations being withdrawn in 2017 and 2018, respectively. You can still receive paper notes from companies or others until September 30, 2022. Focus on these important security features to confirm that a £20 or £50 paper note is genuine: In March, the Bank of England`s Chief Treasurer, Sarah John, said: «In recent years we have changed our banknotes from paper to polymer because these designs are harder to counterfeit and at the same time more durable.
Postmasters and their staff are available to provide human security that your old notes have been deposited into your bank account and also present a receipt. Most post offices are also open for a long time on Fridays.â Paper tickets are currently still valid and can therefore be issued in shops or other places to accept cash. So far this month, more than £100 million has been deposited at Swiss Post offices. The Bank of England can deposit the money into a bank account, by cheque or (if you live in the UK and the amount is worth less than £50) in new banknotes. After 30 September, these paper notes are no longer legal tender. People will no longer be able to use them in stores. Martin Kearsley, Director of Post Bank, said: «We are fully aware that people are living busy lives and that some may postpone the deposit of their £20 and £50 notes until the last moment. However, you can deposit your old notes at the Bank of England at any time before or after the 30th century. Exchange for new tickets in September. The old paper notes of £20 and £50 will no longer be legal tender.
A Bank of England spokesman had previously told The Sun: «Polymer banknotes are stronger than paper notes and last longer in normal daily use. The last day to use the old £20 and £50 paper notes is 30 September 2022. Swiss Post is preparing for a rush of «last-minute» customers dropping off £20 and £50 paper notes this week before they can no longer be used in stores or to pay businesses. To exchange old banknotes after the deadline, you can mail them to the Bank of England. Details of the money still in circulation or hidden in the houses were revealed in a BBC Wales access to information request.