Bank of England notes are the only banknotes that are legal tender in England and Wales. Scottish and Northern Irish banknotes are not legal tender anywhere, and Jersey, Guernsey and Manx banknotes are only legal tender in their respective jurisdictions.
Which paper notes are still legal tender?
Paper £20 notes go out of circulation on September 30 2022. Until then, you can still use the old £20 notes as they are accepted as legal tender. If you’re looking to exchange any old notes, The Bank of England website has further information.
Which UK bank notes are still legal tender?
What happens to my old notes now then? While the paper £5 and £10 notes are no longer legal tender, they will always be accepted by the Bank of England . A spokeswoman explained “all genuine Bank of England banknotes that have been withdrawn from circulation retain their face value for all time”.
Are paper 20 notes still legal tender in the UK?
Yes , you can continue to use paper £20 notes to make purchases at the moment. The old £20 notes will stay valid until the September 2022 expiry date given by the Bank of England. ... The Bank of England have said that many banks will still accept the “withdrawn notes as deposits from customers” and so will the Post Office.
Are paper notes still legal tender in England?
New Bank of England polymer versions of the £20 and £50 notes are now in circulation, with the paper versions due to cease to be legal tender after 30 September 2022 . The Bank of England says there are 510 million paper £20 notes and 341 million paper £50 notes still in circulation.
What is the largest UK bank note?
The Bank of England £100,000,000 note , also referred to as Titan, is a non-circulating Bank of England banknote of the pound sterling used to back the value of Scottish and Northern Irish banknotes. It is the highest denomination of banknote printed by the Bank of England.
Can you use paper notes UK?
Paper £20 notes can continue to be used as normal for now alongside the new plastic notes. The deadline for using your old paper £20 notes is September 30, 2022. You’ll need to spend them by then, or deposit them in a bank account.
Are paper banknotes legal tender?
Old £20 and £50 notes are still valid and can be used alongside new ones up to the date they are withdrawn from circulation by Bank of England. As the Bank of England releases a new £50 note featuring Alan Turing, many are asking when the old notes are to be withdrawn from circulation.
Can I still use the old 20 notes?
Paper £20 and £ 50 notes will no longer be accepted as legal tender as of September 30, 2022 . The new, polymer £20 notes were introduced in February 2020 to replace the paper ones which are more susceptible to fraud.
Are 50 notes still paper?
Yes you can still currently use paper £50 notes .
The paper and polymer £50 notes are both in circulation and are considered legal tender at present. But you have to make sure you spend your paper £50 note now before the expiry date.
Are 50 notes still legal tender?
A note from the Bank of England reads: “30 September 2022 will be the last day you can use Bank of England paper £20 and £50 notes. “After 30 September 2022, these paper notes will no longer be legal tender , so we encourage people to spend them or deposit them at their bank ahead of this date.”
Where can I change old bank notes?
At your bank
If you have a UK bank account, the simplest and quickest way to exchange your notes will normally be to deposit them with your bank. The Post Office Opens in a new window may also accept withdrawn notes as payment for goods and services, or as a deposit into any bank account you can access with them.
Can I use the old 10 note?
The old £10 note went out of circulation officially at 11.59pm on March 1, 2018. However, old notes can still be exchanged at the Bank now that this point has passed. Although the new tenners came in last year until the deadline the paper money continued to be legal tender so could be spent freely.
How do I get rid of my old 20 pound notes?
The easiest way to get rid of the paper notes is to spend it in a shop or to deposit it at a local bank or building society . Shops will stop accepting notes from the day they officially are withdrawn by the Bank of England. However, banks usually allow customers to deposit old notes for some time after that date.
Do banks still take old 10 notes 2020?
While the paper £5 and £10 notes are no longer legal tender, they will always be accepted by the Bank of England . People can take or post any old notes to the bank in Threadneedle Street, in the City of London, to be exchanged for a new-style polymer one. ... Banknotes can also be exchanged by post.”
Can you exchange old 2021 notes?
Exchanging old notes
If you want to exchange up to Rs 4,000 in cash, you can simply go to any bank with a valid ID proof. This limit of Rs 4,000 for exchanging old notes will be reviewed after 15 days.
