The $1, $2, $25, $500 and $1,000 notes retain their face value, even if they are no longer legal tender. You can take them to your financial institution or send them to the Bank of Canada to redeem them. Many banks and some post offices accept old £20 notes as a deposit into a bank account. Friday is the last day The Bank of England`s old-fashioned banknotes become legal tender after being replaced by polymer versions What can you do with your old notes? Here`s everything you need to know. 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. September 30, 2022 is the last day you can use our £20 and £50 paper tickets. So far this month, more than £100 million has been deposited at post offices. The postmaster and his staff are at your disposal to give you the human certainty that your old notes have been deposited in your bank account and will also present you with a receipt.
Most post offices have been open for a long time, even on Fridays. Old £20 notes expire on 30 September 2022. UK post offices expect an influx of « last-minute » customers who deposit £20 and £50 worth of paper notes this week before they can no longer be used in shops. Paper issues of the £5 note were no longer a valid offer in May 2017, while the £10 note was withdrawn in March 2018. The most recent plastic note to enter circulation was Alan Turing`s £50 note, which entered circulation on June 23, 2021 last year. Her Majesty`s portrait will appear on the existing designs of the four polymer banknotes (£5, £10, £20 and £50). This will be a continuation of the current series of polymers and no further changes will be made to the banknote design. You can use the £20 print editions until 30 September 2022. Turner`s signature comes from his will, in which he left many of his paintings to the nation. Swiss Post accepts withdrawn banknotes as a deposit in any bank account. Go to your local branch to drop off the old £20 note. 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. The £20 and £50 paper notes will be phased out after the introduction of plastic banknotes. A unique serial number is printed horizontally and vertically on the back of the banknote. The horizontal number is located in the lower right corner. It consists of multicolored letters and numbers whose height increases from left to right. The vertical number is on the left and the numbers and letters have the same height and color. So far, £1.2 billion of paper banknotes have been deposited in the post office`s 11,500 branches – £372 million in £20-20 notes and £820 million in £50 notes. The Bank of England will withdraw the legal tender status of the £20 and £50 notes after 30 September 2022. After this date, companies will no longer accept these tickets as a means of payment. There are two sets of banknotes. The first series consists of seven different denominations: €5, €10, €20, €50, €100, €200 and €500.
The second series, or Europa series, consists of six denominations and was completed with the issuance of the €100 and €200 on May 28, 2019. The €500 banknote was not included in the « Europa » series and has not been issued since 27 April 2019. The first series of banknotes, originally issued in 2002, will be gradually replaced by the « Europe » series. All banknotes are legal tender throughout the euro area. Martin Kearsley, the Post`s banking director, said: « We are aware that people live busy lives and that some may postpone the deposit of their £20 and £50 notes at the last moment. Many other countries are officially removing old banknotes from circulation. More than 20 central banks around the world have the power to withdraw legal tender status from their notes. These include: This represents more than 250 million individual £20 banknotes and more than 110 million £50 notes.
After that date, the £20 paper ceased to be legal tender. 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. If you are unable to meet this deadline, there is always a way to exchange your old £20 paper. 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 an old legal tender, such as a £5 or £10 paper note, you can exchange or deposit it using this method. Yes, old £20 notes are still legal tender. And you can always use those paper notes to make purchases in the moment.
Old £20 notes will remain valid until the September 2022 expiry date indicated by the Bank of England. The Bank of England`s deadline for legal tender status of the £20 and £50 notes is 30 September. 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.