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HomeMoneyWhen do old £20 notes go out of circulation and how long...

When do old £20 notes go out of circulation and how long left do I have to use them?

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BRITS have just months left to use old £20 notes before they expire.

After the deadline you’ll no longer be able to use the paper note in shops, restaurants or anywhere else that takes cash.

 The old £20 note was minted from 2007 to 2020

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The old £20 note was minted from 2007 to 2020

The replacement plastic £20 note features artist JMW Turner, while the old paper £20 has the face of economist Adam Smith.

Plastic £20 notes first appeared on February 20, 2020 when the note first entered circulation.

They joined the Churchill fiver and the Austen £10 note already minted – with all three made of machine washable plastic rather than paper.

Alan Turing’s £50 note was the most recent to enter circulation, having first been printed on June 23, 2021.

A Bank of England spokesman told us in 2020: “Polymer notes are stronger than paper notes and last longer in usual day-to-day use.

“But they are not indestructible.”

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Can I use the old paper £20 note and when does it expire?

You can still use paper £20 notes as normal for now, alongside the newer plastic ones.

The deadline for using your old paper £20 notes is September 30, 2022.

You’ll need to spend them by then or deposit them in a bank account.

The Bank of England gives at least six months’ notice before any old note is taken out of use.

The old £50 paper note will be withdrawn on September 30, 2022 too.

Until then, you can use either the paper or polymer £20 and £50 notes when you’re paying in shops and other locations.

How do I exchange an old paper £20?

Anyone who misses the date for spending or depositing the old paper £20 note won’t lose out.

Even after the old £20 notes have been withdrawn from circulation, the Post Office will accept withdrawn notes as a deposit into any bank account.

And you can always exchange withdrawn notes directly with the Bank of England.

You can do this by post or in person with a cashier at the central bank located on Threadneedle Street in London.

For either exchange, you’ll need your ID.

There are other requirements too, such as a form to complete.

You can find the full guidance on the Bank of England’s website.

The same goes for any other old notes you have knocking about that are no longer legal tender.

Old paper £5 notes ceased to be legal tender from May 2017 and the paper £10 note was withdrawn in March 2018.

Who is on the plastic £20 note?

The newer £20 note features British painter JMW Turner and they are slightly smaller than the old paper notes.

Joseph Mallord William Turner was born in April 1775 and is one of Britain’s most famous Romantic painters.

The public nominated the artist after ex-Bank of England governor Mark Carney asked for a deceased cultural figure to be selected.

If that isn’t enough information, here’s everything you need to know about the polymer £20 note.

Here’s how to check if your new £50 note is a “rare” one worth hundreds of pounds.

And keep up to date with the latest rare coin news including a Kew Gardens 50p which went for £161 on eBay.

I found a rare silver Liberty coin in a roll – and it could be worth up to $XXX

This post first appeared on thesun.co.uk

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