The Bank of England has issued the last date you will be able to use the 'old style' £20 and £50 paper notes.
Since 2015 paper notes have been gradually replaced with polymer alternatives, with £5 being phased out first. The final polymer note, the £50, will enter circulation in June of this year.
The only paper banknotes still in circulation and able to be spent are £20 and £50 ones, but time to spend these is running out. If you have any old style £5 or £10 notes, these are sadly no longer legal tender.
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Polymer banknotes were brought in because they are meant to be harder to forge and more durable than paper equivalents. Former Bank of England governor Mark Carney – who spearheaded their introduction – said: "Polymer notes are safer than paper notes and last more than twice as long."
"Plastic" banknotes are not without issues though. Some security features on early polymer notes, including the Queen’s face, could be rubbed off with pencil erasers, and notes can shrink to a quarter of their size if ironed while inside a pocket.
Retailers can still accept your paper £20 and £50 notes until September 30, 2022.
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