When does the old £20 note expire? How to get rid before you cant use them

Plastic fantastic – Britain unveils polymer banknotes

We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info

Last year, the Bank of England introduced new plastic, polymer £20 notes into circulation. Recently, the bank announced plans to withdraw the old paper use from circulation.

This means the old note will no longer be considered legal tender.

Britons are advised to use their notes before then or trade them for new notes.

When do the old £20 expire?

The old paper £20 banknotes will expire on September 30, 2022.

After this date, the banknote will no longer be accepted by shops, cafes, bars and anywhere else that payment is taken.

On the same day, the old £50 note will also go out of circulation.

In a tweet, the Bank of England said: “We currently have two £20 notes in circulation – the Adam Smith paper note and the JMW Turner polymer note.

“The paper £20 will be withdrawn, along with the paper £50, on September 30, 2022.”

The Bank of England has to give up to six months’ notice to allow people to spend their tender or exchange it.

Until the expiry date, old paper notes will still be considered legal tender.

Kate ‘returns gesture’ to William in ‘flirtatious’ Christmas card [REVEAL]
Royal Family makes ‘several outfit changes’ on Christmas Day [REPORT]
Kate and William: Expert on why couple don’t hold hands in public [INSIGHT]

How do I get rid of my old £20 banknote?

People have up until the 2022 expiry date to use their old £20 notes.

However, if you run out of time or find an old note tucked away beyond this date, there are ways you can trade in your paper banknote.

The Bank of England advises that most banks will accept “withdrawn notes as deposits from customers”. The Post Office will also do the same.

Paper banknotes can also be exchanged for the new polymer ones directly at the Bank of England in London.

Why have plastic notes been introduced?

The new plastic, polymer banknotes are said to be “the most secure banknote yet”.

This is thanks to safety elements including a hologram and a transparent window which are almost impossible to copy.

The hope is that by having more secure banknotes, it will reduce the risk of banknote fraud.

Along with the £20, the £50 note also underwent a similar transformation.

Plastic, polymer notes are also waterproof and harder to rip.

Source: Read Full Article