Quick Answer: Are They Changing 20 Notes?

Can we change old 500 notes now?

Now that the legal tender character of the notes in denominations of Rs 500 and Rs 1,000 stands withdrawn, you must be getting ready to visit the bank to get the old currency lying at your home exchanged.

….

How do I change my old 10 notes?

How to cash in paper notesTake them to your bank. While the Bank of England will honour withdrawn currency forever, high street bank branches don’t have the same responsibility. … Take them to the Post Office. If your bank won’t take paper notes, or if you don’t live near a branch, you can hand them in at the Post Office.

Can we exchange old notes now?

But old bank notes retain their value for all time, so while you can no longer spend them on the high street, you can return them to the Bank of England, or most major banks if you’re a customer, and get a new polymer banknote in exchange.

How long do you have to change your 20 notes?

It has said it will give people six months’ notice to use the notes once it makes the announcement. After this date you will no longer be able to use the notes in shops, but you will be able to exchange them for new notes.

What is on the new 20 note?

We first issued our polymer £20 note on 20 February 2020. It features the artist JMW Turner.

How long can I use old 20 pound notes?

It has said it will give people six months’ notice to use the notes once it makes the announcement. After this date you will no longer be able to use the notes in shops, but you will be able to exchange them for new notes.

How do I exchange old bank notes?

For exchanges, you’ll need to put any of your old currency into a cash bag or plastic wallet issued usually by the bank. If you’d prefer to take your old coins or notes to your local Post Office, then you can directly deposit them into your bank account at any of their 11,500 branches too.

Who is on the 50 note?

We first issued our current £50 note in 2011. It features the entrepreneur Matthew Boulton and the engineer James Watt. The £50 is our highest value note.

Who is on the new 10 pound note?

Jane AustenWe first issued our current £10 note in 2017. It features the author Jane Austen.

Are the old 20 notes going out of circulation?

The date that paper £20 notes cease to be legal tender has not been decided. … The old paper £20 notes bearing the image of economist Adam Smith are being taken out of circulation, so notes returned to banks or to cash centres by retailers will not be used again.

Can I change old 20 notes at the bank?

When do the old £20 notes expire? The Bank of England is yet to set a date for when the old £20 notes will no longer be valid, meaning you can still use them freely for now. … Some banks and the Post Office may also accept them if you wish to deposit them into your bank account.

Where can I change old 50 notes?

Any old notes that no longer have legal tender status can be exchanged at the Bank of England itself at any time. There are approximately 224 million £50 notes in circulation, of which an estimated 63 million are Houblon notes.

Can you still change old 10 notes at the bank?

Banks and Post Offices may stop providing this service eventually. But at the moment, so long as you’ve got two original forms of ID, you shouldn’t have a problem changing your old notes. You can also change your old ten pound notes and old five pound notes with The Bank of England.

Who is on the new 5 pound note?

politician Sir Winston ChurchillWe first issued our current £5 note in 2016. It features the politician Sir Winston Churchill. The £5 is our lowest value note.

Are they getting rid of 20 notes?

On 20 February 2020 we issued a new polymer £20 note. You will still be able to use the paper £20 note until we withdraw it from circulation. We will announce the withdrawal date after we have issued our new polymer £20 note. We will give six months’ notice of this withdrawal date.