Are paper 50 pounds still legal?

The majority of paper £20 and £50 banknotes in circulation have been replaced with new polymer versions. But there is still around £14bn-worth unaccounted for. People have only 100 days left to use the paper Bank of England £20 and £50 banknotes before they will no longer be in circulation.

How long can I use old 50 pound notes?

People have just 100 days left to use the paper £20 and £50 banknotes remaining in circulation, the Bank of England has said. The last day the notes will have legal tender status is 30 September.

Are paper 20notes still legal tender?

The paper £20 note will no longer be accepted as legal tender after 30 September 2022, the same date that the old style £50 banknotes will go out of circulation, and you can keep spending both of them until then.

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 get 50 pound notes from the bank?

You can keep using the current paper £50 notes as usual. They will be withdrawn, but the Bank of England will give at least six months' notice before they are. Many people have never even seen a £50 note. Cash machines rarely give them out and they are too high-value to appear regularly in your change.

British currency paper bank note 50 pounds sterling, security features to check real or fake

Can you exchange 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 The Post Office Opens in a new window may also accept withdrawn notes as payment for goods and services, or as a deposit into any bank account you can access with them.

Is paper money still legal tender UK?

The UK central bank said about 477 million of Britain's last remaining banknotes printed on paper remain in the hands of the public but will cease to be legal tender after Sept. 30.

Whats happening with 20 and 50 notes?

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.

Which 20 pound notes are going out of circulation?

Paper £20 and £50 notes issued by Clydesdale Bank, Royal Bank of Scotland and Bank of Scotland will also be withdrawn on the same date. The paper £20 notes issued by Bank of Ireland, AIB Group, Danske Bank, and Ulster Bank in Northern Ireland will also be withdrawn after 30 September.

Are Bank notes legal tender?

Coins and banknotes are usually defined as legal tender in many countries, but personal cheques, credit cards, and similar non-cash methods of payment are usually not.

Can you still use old 10 notes?

I'VE FOUND SOME OLD NOTES AND COINS - CAN I STILL SPEND THEM? While there's no law to say you can't keep old banknotes as souvenirs, you can no longer spend them in shops, restaurants or to pay for services once they are not legal tender.

What date do the old 20 notes expire?

It features the economist Adam Smith. 30 September 2022 is the last day you can use our paper £20 and £50 notes.

Can u still spend old 20 pound note?

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.

Are old 20 pounds still valid?

Millions of £20 and £50 notes printed on paper remain in circulation but from 1 October only the newer polymer versions can be used. Anyone who has the old currency must spend it by 30 September, the Bank of England said, or deposit the notes at a bank or Post Office.

Will paper money be phased out?

Although paper-based currencies are becoming less popular, they will likely stick around for the foreseeable future. Dollars and cents may become harder to use, but as with many obsolete technologies, there are enough users to ensure demand doesn't disappear completely.

Are 20 and 50 notes being withdrawn?

News release

The Bank of England will be withdrawing legal tender status of paper £20 and £50 banknotes after 30 September 2022.

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.

What can you do with a 50 note?

How to return old-style banknotes. Old-style £20 and £50 bank notes can be deposited with regular banks, which the Bank of England say is the quickest and simplest way to exchange them. People with a UK bank account will still be able to deposit withdrawn notes into their account.

Does Tesco accept 50lb notes?

The Bank of England has issued a warning to shoppers ahead of the September 30 deadline whereby paper £20 and £50 notes will no longer be able to accepted. Anyone using paper notes to pay for items in all retailers including Tesco, Asda, Aldi, Lidl, M&S and Morrisons will have their transaction rejected.

Are 50 pound notes plastic?

The note is printed on polymer, which is a thin and flexible plastic material. On the front of the note, you can feel raised print. For example, on the words 'Bank of England' and in the bottom right corner, over the smaller window.

Where can I change my old 50 pound notes?

You can exchange your old notes with the cashier in person at the central bank located on Threadneedle Street in London.

Who is on the 50 pound note?

The current note, the first of this denomination to be printed in polymer, entered circulation on 23 June 2021. It bears the image of Queen Elizabeth II on the obverse and computer scientist and World War II codebreaker Alan Turing on the reverse, with his birth date reflecting the release date.

Can you still use old 10 notes 2022?

Paper £10 and £5 banknotes have already been withdrawn, while paper £20 and £50 notes cannot be used after 30 September 2022. They have been replaced with new plastic notes with a series of security features. However, the Bank of England said it will continue to swap old notes for their face value.

Where can I change notes in 2022?

How long can I use old 10 pound notes?

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.