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One year left to spend your paper £20 and £50 banknotes

Oct 1, 2021 |

With the withdrawal of paper £20 and £50 notes after 30 September 2022, people are being encouraged to spend or deposit them at their bank or post office.

These notes are being replaced with the new polymer £20 notes featuring J.M.W. 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.

After 30 September 2022 people with a UK bank account will still be able to deposit withdrawn notes into their account. Some post offices may also accept withdrawn notes as payment for goods and services or as a deposit to an account accessed via them.

For more information on this please visit the Bank of England website.

Tags: Business, Banking, Retail