Posted: Thu 22nd Sep 2022

Just a few days left to use or swap paper £20 and £50

News and Info from Deeside, Flintshire, North Wales
This article is old - Published: Thursday, Sep 22nd, 2022

There are just a few days left to either spend or swap old paper £20 and £50 notes.

After 30 September 2022, paper £20 and £50 banknotes will no longer be legal tender.

polymer-20-and-50
What to do with paper notes after 30 September

£20 hologram image change

Hologram image change security feature

Tilt the note from side to side and check 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 the images change between a ‘£’ symbol and the number ’50’.

Bright £20 or £50 in the watermark

Paper-20-and-50-Bright-watermark-200x100

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

In June the Bank of England said there was still over £6 billion worth of paper £20 and over £8 billion worth of paper £50 notes in circulation.

That’s more than 300 million individual £20 banknotes, and 160 million paper £50 banknotes.

Bank of England’s Chief Cashier Sarah John said “Changing our banknotes from paper to polymer over recent years has been an important development, because it makes them more difficult to counterfeit, and means they are more durable.”

The majority of paper banknotes have now been taken out of circulation, but a significant number remain in the economy, so we’re asking you to check if you have any at home.”

 

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