Deadline approaching to spend or exchange paper £20 or £50 banknotes

Image of the Bank of England in London. Credit: Google maps - Ecaterina Cobzaru

September 20, 2022, is the deadline for spending or exchanging any paper £20 or £50 banknotes, after this date, they will cease to be legal tender.

The Bank of England has reminded everybody again today, Tuesday, August 2, that the deadline for spending the old paper £20 or £50 banknotes is fast approaching. After September 30, 2022, these notes will no longer be legal tender.

Old notes can be handed in at any UK bank or Post Office where they will be exchanged for the new polymer ones. You can also send them to the Bank of England in Threadneedle Street by post, but entirely at your own risk, they point out.

The new £20 notes will feature the famous painter, JMW Turner, and the £50 notes will feature World War 2 code-breaking genius, Alan Turing.

As explained on the Bank of England’s website, once the September 30 deadline has passed, you will no longer be able to use the old paper notes in shops, or use them to pay businesses.

Many UK banks will accept withdrawn notes as deposits from customers. Some Post Offices may also accept withdrawn notes as a deposit into any bank account you can access with them.

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Written by

Chris King

Originally from Wales, Chris spent years on the Costa del Sol before moving to the Algarve where he is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]

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