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 Many banks will accept withdrawn notes as deposits from customers. The Post Office may also accept withdrawn notes as a deposit into any bank account you can access at the Post Office.
How long can I use old 50 pound notes?
The Bank of England have confirmed that old £50 notes expire on Wednesday 30 September 2022. This will officially be the last day you can use your old £50 notes in shops, pubs and restaurants.
Are old paper 50 notes still legal tender?
Turner, and polymer £50 notes featuring Alan Turing. After 30 September 2022, the new polymer notes will be the only ones with legal tender status. Once this deadline has passed, people will no longer be able to spend Bank of England paper notes in shops, or use them to pay businesses.
Are 50 pound notes still in circulation?
The Bank withdrew paper £5 and £10 banknotes as legal tender in May 2017 and March 2018 respectively. It put the polymer £50 note into circulation on 23 June 2021, meaning the Bank’s entire collection of currently-printed banknotes is made of plastic.
Can you still use old 50 notes 2021?
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 Many banks will accept withdrawn notes as deposits from customers. The Post Office may also accept withdrawn notes as a deposit into any bank account you can access at the Post Office. And, you can always exchange withdrawn notes with us.
Can shops refuse 50 pound notes?
However, if you owe a sum of money, then the creditor may not refuse accepting legal tender in repayment of that debt. If you received any service or goods from a shop in advance of payment, so that you were in debt, then your note would be OK.
Are old 50 pound notes worth anything?
AA notes are the most valuable, but anything with an A in it could be worth more than the value of the note itself. For example, we’ve recently seen AA £50 notes on eBay go for £78. But other notes with early serial numbers have gone for much higher. Back in 2017, an AA01 £5 note sold on eBay for over £60,000.
Can I exchange old notes in 2021?
The Bank of England are withdrawing the paper notes from circulation, following the release of the new £20 and new £50 notes in 2020 and 2021. This means that you’ll have to spend them or exchange the notes before the end date, otherwise you won’t be able to use them as legal currency.
How do you check a 50 pound note?
When you tilt the £50 note up and down or side to side, the images on the green motion thread change between a ‘£’ symbol and the number ’50’. When paper banknotes are held up to the light, there is a bright denomination at the top of the Queen’s portrait in the watermark.
Where can I change old 50 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.
Where can I get a new 50 note?
A new £50 note featuring WW2 codebreaker Alan Turing has launched today – but you can only get your hands on the note in two locations. Cash fans can find the notes in the City of London, near the Bank of England – or at Bletchley Post Office.
Is the new 50 note out yet?
The new £50 note was released on Wednesday 23 June 2021. The release date coincided on what would have been Alan Turing’s 109th birthday. To celebrate the note going into circulation, Governor Andrew Bailey of the Bank of England appeared at Bletchley Park, Milton Keynes.
References:
- https://www.goodto.com/family/family-news/when-do-old-50-notes-expire-606962
- https://www.bankofengland.co.uk/news/2022/march/six-months-left-to-spend-your-paper-banknotes
- https://www.bbc.co.uk/news/business-60918441
- https://www.bankofengland.co.uk/banknotes/50-pound-note
- https://www.theguardian.com/notesandqueries/query/0,5753,-62624,00.html
- https://www.thesun.co.uk/money/15367942/rare-50-note-serial-numbers-worth-hundreds/
- https://www.goodto.com/family/family-news/when-do-old-20-notes-expire-595335
- https://www.bankofengland.co.uk/banknotes/counterfeit-banknotes/how-to-check-your-banknotes
- https://www.bankofengland.co.uk/banknotes/exchanging-old-banknotes
- https://www.mirror.co.uk/money/only-place-outside-london-you-24381926
- https://www.goodto.com/family/family-news/new-50-note-released-expire-606194