The Post Office is preparing for a “last moment” rush in customers depositing paper £20 and £50 banknotes in its branches this week, before they can no longer be used in shops or to pay businesses.
September 30 is the last day that the Bank of England’s paper £20 and £50 banknotes will have legal tender status. To date, £1.2 billion worth of paper £20 and £50 banknotes have been deposited at Post Office’s 11,500 branches.
The total has been made up of £372 million-worth of paper £20 banknotes and £820 million worth of £50 banknotes. So far this month, over £100 million worth of the notes have been deposited at Post Office branches.
