Can I still spend 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 Many banks will accept withdrawn notes as deposits from customers. The Post Office may also accept withdrawn notes as a deposit into any bank account you can access at the Post Office.

How long can you use old 20 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.

Can you still use old 20 Notes 2021?

The Bank of England are withdrawing the paper notes from circulation, following the release of the new £20 and new £50 notes (opens in new tab) 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.

Can you still use 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 the old paper 20 pound notes still legal tender?

After this date, paper £20 and £50 banknotes will no longer be legal tender. So we are encouraging anyone who still has these to use them or deposit them at their bank or a Post Office during these last 100 days.

How long can I use the old £20 Note? Paper £20 Withdrawal date

What do I do with old 20 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 The Post Office Opens in a new window may also accept withdrawn notes as payment for goods and services, or as a deposit into any bank account you can access with them.

How do I get rid of my old 20 pound notes?

And you can always exchange withdrawn notes directly with the Bank of England. You can do this by post or in person with a cashier at the central bank located on Threadneedle Street in London.

Are paper 10 pounds still legal?

The old paper £10 notes that were withdrawn from circulation on 1 March 2018 are no longer accepted as legal tender.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.

Are 50 pound notes still legal?

The Bank of England urged people holding paper 20- and 50-pound bills to spend or deposit them with a financial institution before they are no longer legal tender. Retail outlets will no longer accept them starting in October, but banks and the U.K. Post Office may continue to do so.

How long can I use old 10 pound notes?

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 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.

Which pound notes are out of circulation?

The one pound note was issued by the Bank of England for the first time in 1797 and continued to be printed until 1984. The note was withdrawn in 1988 due to inflation and was replaced by a coin.

Are old 1 coins still legal tender?

The old round coins are no longer legal tender, and shops, restaurants and other retailers aren't accepting them. The new coins are more secure and harder to counterfeit thanks to the distinctive 12-sided shape, the combination of two metals (gold and silver), and a hologram.

Can I change old 20 notes at the post office?

You'll need to visit your nearest bank branch in person to do this. At the Post Office: The Post Office may also accept withdrawn notes as payment for goods and services, or as a deposit into any bank account, you can access with them.

How do you get a 50 pound 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.

Do banks still take old 10 notes 2021?

Banks don't legally have to accept old paper notes and coins once they've been withdrawn from circulation. However, some may continue to allow you to swap them while others may let you deposit old notes and coins into your account.

When did the 20 note change?

In September 2015 the Bank of England announced that the next £20 note would be printed on polymer, rather than cotton paper. This was followed by an announcement in April 2016 that Adam Smith would be replaced by artist J. M. W. Turner on the next £20 note, which entered circulation on 20 February 2020.

Can you still use old 5 notes 2021?

The only place you can now exchange your paper notes for crisp polymer notes is at The Bank of England. Banks, building societies and Post Offices no longer accept the paper note even for exchanges, so you will have to physically go down to the BoE if you want to get your hands on fresh plastic notes.

Can you still change old 10 notes 2020?

They were both replaced with plastic "polymer" versions. These paper notes are no longer legal tender, meaning they can't be used to pay in shops, but the good news is you can still deposit them or exchange them for cash.

Do post office take old notes?

The Post Office will deposit old paper notes and coins into your bank account, which you can then withdraw. To do this, your bank will need to be signed up to receive cash deposits via the Post Office. You can check this on the Post Office website, although many major providers are signed up.

How much cash can you deposit UK 2021?

There aren't any deposit limits, as long as the bank knows where the money comes from. High-value traders deal with tens of thousands of pounds, so they should report the source of their income. These people typically transfer money from one account to another, or they're paying money from abroad.

Are old large 50p coins worth anything?

The 50p, being half a pound, had the same value as the bank note (there used to be 20 shillings to the pound). The larger old 50p coins on this page have been demonetized and cannot be spent, but they can however be exchanged for current coins or paid into UK bank accounts.

Are old 10p coins worth anything?

Even low-value coins like 10ps can be worth huge amounts of cash - and some are being sold for up to £11. Most coins in circulation are not worth more than their face value - in this case, 10p. But some can fetch far more when sold due to their value to collectors.

Are old 50p coins still legal tender?

No, or at least no-one's obliged to take them and they aren't legal tender. Per the Royal Mint: "Smaller version introduced September 1997 (Larger version introduced October 1969, demonetised in 1998)".

Is there a 500 pound note UK?

The £500 pounds white note is the Bank of England's second highest denomination. Hand-signed by the Chief Cashier, the five hundred pounds note features a seated Britannia, the classical figure representing the British isles. Like all white notes, the £500 bill is printed in black and white with a blank reverse side.