Paper £20 notes go out of circulation on Wednesday, 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.
How long can I use old 20 pound notes?
Exchanging old notes
30 September 2022 is the last day you can use our paper £20 and £50 notes. Many banks will accept withdrawn notes as deposits from customers. The Post Office may also accept withdrawn notes as a deposit into any bank account you can access at the Post Office.
When can I not use old 20 notes still?
The paper £20 note will no longer be accepted as legal tender from 30 September 2022.
Can you still spend old 20 pound notes in shops?
The £20 note going out of circulation means you will not be able to use the notes in shops, but you will be able to exchange them for new notes. Some banks and the Post Office may also accept them if you wish to deposit them into your bank account. You can also exchange your notes with the Bank of England.
Are 20 notes being taken out of circulation?
Yes, old £20 notes ares still legal tender. And you can continue to use these paper 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.
Can shops refuse old 20 notes now?
Can shops refuse old £20 and £50 notes? Households will no longer be able to spend paper notes in shops, or use them to pay for services, after the September deadline. However, anyone with a bank account in the UK will still be able to deposit paper notes into their accounts.
Can you still use old 10 notes 2021?
While the old paper £5 and £10 bank notes are no longer legal tender, you can still pay with the paper versions of both the £20 and £50 notes until 30 September 2022. After this date, they will no longer be classed as legal tender.
Is the old 20 still legal tender?
Paper £20 notes go out of circulation on Wednesday, 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.
What should I do with old notes?
Exchanging old banknotes
Many banks accept withdrawn notes as deposits from customers. The Post Office will also accept withdrawn notes as a deposit into any bank account you can access at the Post Office. And you can always exchange withdrawn notes with us.
Which bank notes are going out of circulation?
News release. The Bank of England will be withdrawing legal tender status of the paper £20 and £50 notes after 30 September 2022, and we are encouraging anyone who has these at home to spend or deposit them at their bank or Post Office.
Is there a 100 pound note?
The £100 note is currently the largest denomination of banknote issued by The Royal Bank of Scotland. The current Ilay series of banknotes was first issued in 1987. These banknotes feature a portrait of Lord Ilay, first governor of the bank, on the front. Lord Ilay’s image is also used as a watermark on the notes.
Is there a new 50 pound note?
We first issued our polymer £50 on 23 June 2021. It features the scientist Alan Turing.
Should I withdraw my money from the bank 2022?
Investor takeaway. There are a lot of better choices than holding cash in 2022. Inflation will deteriorate the value of your savings if you decide to stash your cash in a bank account. Over the long run, you’ll be better off investing now, even if expected returns are lower than they’ve been historically.
Can I still use an old ten pound note?
Are old £10 notes legal tender? The old paper £10 notes that were withdrawn from circulation on 1 March 2018 are no longer accepted as legal tender. This means you cannot use them to buy any goods or services whatsoever. However, all is not lost, as you can exchange your old £10 notes for new ones.
How do I exchange old notes?
All these notes can be exchanged at the counters of any public sector bank branch, any currency chest branch of a private sector bank or any Issue Office of the Reserve Bank of India. There is no need to fill any form for doing this.
Where do I send old bank notes?
Send it with your banknote(s) and photocopies of ID (one photo ID and one proof of address) for any exchange (mandatory for any exchange of £700 or more) to Department NEX, Bank of England, Threadneedle Street, London EC2R 8AH. To check what we accept please see ‘Identification and proof of address’ below.
References:
- https://www.bankofengland.co.uk/banknotes/20-pound-note
- https://inews.co.uk/inews-lifestyle/money/can-you-use-old-20-notes-expire-how-to-return-unwanted-notes-1558017
- https://inews.co.uk/news/consumer/old-20-pound-notes-can-still-use-when-paper-note-expire-what-do-out-of-circulation-1464833
- https://www.goodto.com/family/family-news/when-do-old-20-notes-expire-595335
- https://www.telegraph.co.uk/money/consumer-affairs/new-50-note-alan-turing-do-old-banknotes-expire/
- https://www.themoneyedit.com/banking/old-bank-notes-coins
- https://metro.co.uk/2022/01/21/new-20-notes-when-do-the-old-notes-expire-and-who-is-on-the-new-one-15959501/
- https://www.bankofengland.co.uk/faq/banknote
- https://www.bankofengland.co.uk/news/2022/march/six-months-left-to-spend-your-paper-banknotes
- https://en.wikipedia.org/wiki/The_Royal_Bank_of_Scotland_%C2%A3100_note
- https://www.bankofengland.co.uk/banknotes/polymer-50-pound-note
- https://www.fool.com/investing/2022/01/13/should-investors-be-stashing-cash-for-2022/
- https://www.oceanfinance.co.uk/blog/how-to-exchange-old-10-notes/
- https://rbi.org.in/Scripts/ic_exchangeofnotes.aspx
- https://www.bankofengland.co.uk/banknotes/exchanging-old-banknotes