The Bank of England has warned anyone who is still holding onto paper £20 notes that time is running out to get them replaced.
The old notes, which began being replaced by the new polymer version in February 2020, will no longer be legal tender after September 30. Paper £50 notes also expire on this date - and with just days left before they expire, there has been high demand to get the notes changed.
The Bank of England has told customers that it is currently experiencing long queues and waiting times as people swap over their notes, the Manchester Evening News reports. As well as at the London central bank, the notes can also be swapped at high street banks and some Post Offices.
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While there is no deadline to exchange the old notes for the polymer ones, customers are still rushing to get theirs swapped before they can no longer spend their paper money. A Bank of England statement said: "The Bank of England Counter is currently open from 9.30am to 3pm Monday to Friday and is experiencing very high demand.
“There will be long queues and you may encounter waiting times in excess of an hour. We would ask that you kindly consider the long wait times when travelling to the Bank to undertake an in person exchange - if you arrive after 2pm it is possible you may not get served before we close.”
The Bank suggested that customers should send their banknotes via post to them using a Postal Exchange Form unless they require them immediately. Before the September 30 deadline, the paper notes can also still be spent in shops.
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