All change for £20 and £50 notes

By RACHEL PUGH & JAMES RODGER

CUSTOMERS who tend to use cash when shopping are being encouraged to take note of a major new rule change on the horizon.

From September, old paper £20 and £50 notes will no longer be legal tender.

Paper notes are being phased out and replaced with polymer currency which allows for a new generation of security features making them even harder to counterfeit.

It all means that time is ticking to use the old paper notes before shops will no longer receive them.

The Bank of England will still allow Brits to exchange their dated currency for a polymer replacement after the September cut-off. Chief cashier Sarah John said: “We want to remind the public that they only have months left to spend or deposit their paper £20 and £50 notes.

“Over the past few years we have been changing our banknotes from paper to polymer, because these designs are more difficult to counterfeit, whilst also being more durable. A large number of these paper notes have now been returned to us, and replaced with the polymer £20 featuring the artist J.M.W. Turner, and the polymer £50 featuring the scientist Alan Turing.

“However, if members of the public still have any of these paper notes in their possession, they should deposit or spend them whilst they can.” Paper banknotes for £5 and £10 were replaced by polymer some years ago.

The fiver featuring Sir Winston Churchill was withdrawn on May 5, 2017. While the old-school tenner was discontinued on March 1, 2018.

On the Bank of England (BOE) website, there are instructions for those who may still be clinging on to old paper banknotes. They can be exchanged at the following places:

At your bank : The BOE says the easiest way to exchange notes is to deposit them with your bank.

Post Office: The Post Office may also accept withdrawn notes as payment for goods and services.