Brits With £20 And £50 Notes Issued 100 Day Warning
Aisha Nozari
Published 9:44, 23 June 2022 BST
| Last updated 9:44, 23 June 2022 BST
The Bank of England has announced that anyone with paper £20 or £50 notes must spend them by the end of September, which is 100 days from now.
The Bank of England’s chief cashier, Sarah John, explained: “Changing our banknotes from paper to polymer over recent years has been an important development, because it makes them more difficult to counterfeit, and means they are more durable.”
Jones, whose signature will be on the new notes, added: “The majority of paper banknotes have now been taken out of circulation, but a significant number remain in the economy, so we're asking you to check if you have any at home.
“For the next 100 days, these can still be used or deposited at your bank in the normal way.”
Paper twenties and fifties issued by Bank of Scotland, Clydesdale Bank and Royal Bank of Scotland will also go out of circulation after 30 September, as will £20 and £50 notes from AIB Group, Danske Bank, Ulster Bank in Northern Ireland and Bank of Ireland.
Paper £50 notes are stamped with the face of economist Adam Smith while entrepreneur Matthew Boulton and engineer James Watt portraits are carried on paper twenties.
