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The post office can also accept old paper notes as a deposit into any bank account that you can access at the post office. The Bank of England has confirmed that the tender with the portrait of King Charles will circulate in mid-2024, confirming that “Her Majesty`s portrait will appear on the existing designs of the four polymer banknotes”. Sarah John, Chief Cashier of the Bank of England, said before the date: “The conversion of our banknotes from paper to polymer in recent years has been an important development as it makes them harder to counterfeit and more durable. The majority of paper banknotes have now been withdrawn from circulation, but a significant number remain in the economy, so we ask you to check if you have any at home. For the next 100 days, these can still be used or deposited with your bank as usual. After that date, the £20 paper ceased to be legal tender. The Bank of England also points out that many banks will continue to accept old banknotes as deposits, while the post office can also accept them into any bank account you can access. The Bank of England will always exchange all withdrawn notes, including banknotes that we have withdrawn in the past. Fortunately, your money is not lost. Many banks will still accept these notes as deposits, according to the Bank of England.

As of Friday, September 30, you will no longer be able to use your old paper tickets. That being said, your money won`t be lost. If you have 20-pound or 50-pound paper tickets, we recommend buying them before £30. September 2022 or deposit it with your bank or post office. Economist Adam Smith appears on the original £20 note. While the new polymer note features artist JMW Turner. The romantic artist`s self-portrait was painted in 1799 and is on display at Tate Britain in London. The Bank of England must give up to six months` notice when an old bank is abandoned as a means of payment. This gives the public a reasonable amount of time to spend their old note before it expires. After that date, paper banknotes of £20 and £50 will cease to be legal tender. Therefore, we encourage anyone who still has them to use them in the last 100 days or deposit them at their bank or post office.

After this date, cafes, bars, shops and restaurants will no longer accept the £20 paper ticket. This is exactly the same day as the old expiry date of the £50 note. The Bank of England must announce up to six months in advance when an old bank will fail. This gives the audience enough time to transmit their old note before it expires. The note is printed on special paper, which gives it a unique feel. On the front of the note, you may feel increased pressure. For example, in the words “Bank of England” and in the lower right corner around the number “20”. Many banks accept withdrawn notes as customer deposits. Most of the paper notes have been replaced by the new polymer versions printed with the face of the artist J M W Turner.

However, there are still paper notes worth around £5 billion, with £20 in circulation. Staff: If you can and wish, you can exchange your old notes at the Bank of England counter on Threadneedle Street in London. The counter is open weekdays from 09:30 to 15:00. But beware, the Bank of England has warned against long queues and that you may not be able to be served after noon when capacity is reached. Just one year ago, we issued the 50-pound polymer note with scientist Alan Turing on his 109th birthday. The £50 Turing completed our polymer banknote family, with all denominations (£5, £10, £20 and £50) now printed on polymer. The Bank of England has stated (opens in a new window) that many banks will still accept “notes withdrawn as customer deposits”, as will the post office. You can also exchange paper notes directly at the London-based Bank of England for the new polymer notes. When the paper notes were returned to the Bank of England, they were replaced by the new 20-pound polymer notes with JMW Turner and the 50-pound polymer notes with Alan Turing. The £20 note was first introduced in 2007 and featured a portrait of Adam Smith, the Scottish economist and philosopher also known as the father of business and the father of capitalism. You may be able to exchange old banknotes at your own UK bank, but it is at the discretion of the bank if it is willing to accept the old £20 and £50 notes. 314 million £20 paper banknotes worth £6.3 billion (as of 27.05.2022) and 163 million £50 banknotes worth £8.2 billion (as of 10.06.2022) remain in circulation While the majority of paper banknotes in circulation in 20 and 50 pounds have been replaced by new polymer versions, there are still more than 6 billion pounds of paper worth 20 pounds with economist Adam Smith.

and £50 paper banknotes worth more than £8 billion with engineers Boulton and Watt in circulation. That`s more than 300 million individual £20 banknotes and 160 million £50 notes. Footnote [1] The £20 polymer note entered circulation on 20 February 2020. If you have an old legal tender, such as £5 or £10 notes, you can exchange or deposit them using this method. If you miss the date of issue or deposit of a £20 paper, don`t worry, you won`t lose. A Bank of England spokesman previously told The Sun: “Polymer notes are stronger than paper notes and last longer in normal daily use. Alternatively, you can exchange paper notes for polymer silver at some post offices. You can check if your local branch offers this service on the Bank of England website. Among the differences from the new polymer note, there is a new holographic image that alternates between the words “Twenty” and “Pounds”. There is also a small transparent window in the bottom corner of the note. There is also a portrait of the Queen (opens in a new tab) printed on the window with “£20 Bank of England” in the margin.

Paper issues of the £5 note were no longer a valid offer in May 2017, while the £10 note was withdrawn in March 2018. What can you do with your old notes? Here`s everything you need to know. To send them by post, fill out a postal exchange form and send it with banknotes and photocopies of your identity card and proof of address. It came out with the old and with the new in 2022, with the old £20 note and the old expiry date of the £50 note (opens in a new tab) taking place in 2022. The Bank of England is withdrawing paper notes from circulation after the publication of the new £20 and £50 notes (opens in a new window) in 2020 and 2021. This means that you have to spend or exchange them before the end date, otherwise you won`t be able to use them as legal tender. Find all participating post offices where you can exchange old notes. The Bank of England announced in advance that these notes would be phased out from Friday (30. September) would be made redundant in order to combat counterfeiting. Paper notes are replaced by new polymer versions. It is important to know when the old £20 notes expire as the Bank of England`s payment date falls this year.

The last day for the issuance of £20 and £50 notes is today, September 30, 2022. Swiss Post accepts withdrawn banknotes as a deposit in any bank account. Go to your local branch to drop off the old £20 note. Paper issues of the £5 note were no longer valid in May 2017, while the £10 note was withdrawn in March 2018. The Bank of England has confirmed that the tender will circulate with the portrait of King Charles in mid-2024, confirming that “Her Majesty`s portrait will appear on the existing designs of the four polymer notes”. However, you will need to complete some paperwork. Full instructions are available on the Bank of England`s website. The post office is preparing for a rush of “last-minute” customers who will drop off £20 and £50 worth of paper tickets this week before they can no longer be used in shops or to pay businesses.