Cash users have just 100 days left to use paper £20 and £50 banknotes before they are no longer legal tender.
The Bank of England will be withdrawing legal tender status of millions of paper banknotes after 30 September 2022. After this date they can no longer be used, so people are being urged to deposit them at their bank or Post Office, or use them.
While the majority of paper £20 and £50 banknotes in circulation have been replaced with new polymer versions, there are still over £6 billion worth of paper £20 notes and over £8 billion worth of paper £50 banknotes in circulation. That’s more than 300 million individual £20 banknotes, and 160 million paper £50 banknotes.
