December 8, 2023

By Trevor Hughes…

With effect from Friday 30th September 2022, old paper £50 Sterling notes and old paper £20 Sterling notes will no longer be legal tender in shops cafes or anywhere else. The only way you will be able to change the notes after the above date will be via the Bank of England in the UK.

As the date comes closer, when being given change by any commercial organization (including banks), please check before you walk away, if you have been given any of these old paper notes, bring it to the attention of the person who gave them to you and ask the person to change them for the new polymer notes.

Cash machines are a typical example where old paper notes are dispensed. It’s no good going into a bank pleading innocence, you have no proof that the old paper notes came from them!! If possible, avoid using these machines for a few weeks or build up a reserve prior to the 30th.

Some local banks will not recognize the old paper notes as legal tender after the 15th of August 2022 and some of the money exchanges will not recognize these notes and accept them after the end of August. Quite what other money exchanges are doing, you would need to ask.

If you wish to ask me a question, please do so in the contact box below.

Best wishes

Trevor Hughes

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