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HomePaper MoneyOnly One Month Left to Redeem Paper £20 and £50 UK Banknotes

Only One Month Left to Redeem Paper £20 and £50 UK Banknotes

Only One Month Left to Redeem Paper £20 and £50 UK Banknotes

Paper £20 and £50 notes being replaced by new polymer notes

 

By Bank of England …..
If you have any paper £20 or £50 notes, we encourage you to use them or deposit them with your bank or Post Office before 30 September 2022.

As paper notes are returned to the Bank of England, they are being replaced with the new polymer £20 notes featuring JMW Turner, and polymer £50 notes featuring Alan Turing.

After 30 September, only the polymer notes will have legal tender status.

Paper Notes After 30 September

Once the 30 September 2022 deadline has passed, you will no longer be able to use Bank of England paper notes in shops or use them to pay businesses.

After this date, many banks in the United Kingdom will accept withdrawn notes as deposits from customers. Some Post Offices may also accept withdrawn notes as a deposit into any bank account you can access with them.

The Bank of England will always exchange any withdrawn notes, including paper notes we have withdrawn in the past.

Continue to Check Your Banknotes

You may still receive paper notes from businesses or other people until 30 September 2022. Focus on these key security features to help confirm that a £20 or £50 paper note is genuine:

  • £20 hologram image change

Tilt the note from side to side and check that the images change between a ‘£’ symbol and the number ’20’.

  • £50 motion thread image change

Tilt the note up and down or side to side and check that the images change between a ‘£’ symbol and the number ’50’.

  • Bright £20 or £50 in the watermark

Hold the note up to the light. Check that there is a bright ‘£20’ or ‘£50’ at the top of the portrait of Queen Elizabeth II.

Polymer notes have different security features. Find out how to check all of our banknotes here.

Scottish & Northern Ireland Banknotes

Bank of Scotland, Clydesdale Bank, and Royal Bank of Scotland will withdraw their paper £20 and £50 banknotes on the same date as the Bank of England – 30 September 2022. Bank of Ireland, Danske Bank/Northern Bank Limited, and Ulster Bank in Northern Ireland will also withdraw their paper £20 notes on the same date.

All First Trust Banknotes have been withdrawn.

AIB Group (UK) plc (previously trading as First Trust Bank in Northern Ireland) ceased issuance of banknotes on 30 June 2020. Consequently, AIB Group (UK) plc/First Trust Bank has advised that their banknotes should no longer be accepted, but can continue to be deposited to bank accounts at a variety of institutions.

For more information about Scottish and Northern Ireland notes, including how to check that they are genuine, please visit the Association of Commercial Banknote Issuers (ACBI).

CoinWeek
CoinWeek
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