11 Dec When Does the Old £20 Note Stop Becoming Legal Tender

“There will be long queues and there could be waiting times of more than an hour,” the bank warned. “We ask you to take into account the long wait times when you go to the bank for a personal exchange.” The Bank of England will always exchange old paper notes so that people who missed the deadline are not out of their pockets. The new 20-pound plastic and polymer banknotes feature a new iconic image, as well as enhanced security features to prevent fraudulent activity. It has already been described as “the safest banknote yet” because the new security features include a hologram and a transparent window – two features that are difficult to copy exactly. However, the Bank of England warns that people “should be aware that banknotes are sent at their own risk” and encourages people to “take appropriate measures to insure themselves against loss or theft”. The old 20 and 50 pound notes will be redundant from 30 September to combat counterfeit money. 20-pound notes made of waste paper expire on September 30, 2022. After this date, cafes, bars, shops and restaurants will no longer accept the £20 paper ticket. In particular, it is the same day as the expiry date of the old £50 note. The £20 paper will remain legal until September 30, 2022. That`s over 250 million individual £20 notes and over 110 million £50 notes. Paper issues of the £5 note were no longer a valid offer in May 2017, while the £10 note was withdrawn in March 2018.

She assured her customers that there was no deadline for exchanging banknotes. However, the fact that they are no longer accepted in stores or by companies has led to a rush to exchange them. The 20-pound polymer note entered circulation on February 20, 2020. Tomorrow, these paper tickets will no longer be legal tender and they will not be accepted in stores. Although the majority of the £20 and £50 paper banknotes in circulation have been replaced by new polymer versions, there are still more than £5 billion of £20 worth of paper notes in circulation with economist Adam Smith and nearly £6 billion of £50 notes with engineers Boulton and Watt. That`s more than 250 million individual £20 banknotes and over 110 million £50 notes. Footnote [1] The £20 polymer note, published in February 2020, features artist J. M. W.

Turner. The Bank of England has warned people not to expect long queues at its Threadneedle Street headquarters in the City of London if they try to exchange paper notes worth £20 and £50. Flip the note from one page to the next and see if the images change between a “£” symbol and the number “20”. You can use the £20 print editions until 30 September 2022. 257 million £5.1 billion banknotes (as of 9 September 2022) and 118 million £50 billion notes (as of 9 September 2022) are still in circulation. The Bank of England will always exchange all withdrawn notes, including banknotes that we have withdrawn in the past. After September 30, only our polymer banknotes will be legal tender. After September 30, 2022, you will no longer be able to use paper banknotes. However, the following options remain available: To avoid old and invalid notes in your wallet, deposit them or deposit them into your bank account. In keeping with Royal House guidelines to minimize the environmental and financial impact of the monarch change, existing banknotes will continue to circulate with Her Majesty Queen Elizabeth II. New banknotes are only printed to replace worn banknotes and to meet the general increase in demand for tickets. The other image that appears on the note is a painting by Turner called The Fighting Temeraire.

It is a tribute to the ship HMS Temeraire, which participated in Admiral Nelson`s victory at the Battle of Trafalgar in the early 19th century. The move comes after the bank introduced new £20 polymer plastic banknotes in February 2020 and £50 polymer banknotes in June 2021. The new £20 note is slightly smaller than the paper edition and depicts the British painter JMW Turner. All Bank of England polymer banknotes can be used as legal tender in the UK after 30 September. 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 Bank of England has stated (opens in a new window) that many banks will still accept “notes withdrawn as customer deposits”, as will the post office. You can also exchange paper notes directly at the London-based Bank of England for the new polymer notes. Swiss Post accepts withdrawn banknotes as a deposit in any bank account. Go to your local branch to drop off the old £20 note. You can also exchange paper notes at face value directly at the London-based Bank of England for the new polymer notes.

Keep the note in the light. Check if there is a brilliant “£20” or “£50” at the top of the Queen`s portrait. 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. Consumers are rushing to exchange their old paper banknotes for new plastic versions, just over two weeks before they cease to be legal tender at the end of September. The bank tweeted: “All genuine Bank of England notes that have been withdrawn from circulation or will soon be withdrawn from circulation will retain forever and can be exchanged with the Bank of England in London.” 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 old £20 and £50 notes will expire in September 2022 and paper notes are currently still valid, so they can be issued in shops or other places that accept cash. Last year, the bank introduced the 50-pound polymer note featuring World War II scientist and famous World War II codebreaker Alan Turing. The Bank of England said: “Banknotes are resistant to dirt and moisture and therefore stay in better condition longer. These notes also have tactile features that allow blind and partially sighted people to use them. If that`s not enough information, here`s everything you need to know about the 20-pound polymer bill. The £5 and £10 notes have already been completely replaced, with the paper notes of these denominations having been withdrawn in 2017 and 2018 respectively.