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Only 100 days left to spend £ 20 and £ 50 banknotes, says Bank of England | Bank of England

Written by Javed Iqbal

People only have 100 days left to use the £ 20 and £ 50 banknotes left in circulation, Bank of England have said.

The last day on which banknotes have legal tender status is 30 September.

The bank encourages anyone who still has them to use them or deposit them in their bank or post office before the end of September.

While the majority of paper £ 20 and £ 50 banknotes in circulation have been replaced with new polymer versions, there are still more than £ 6bn. £ 20 banknotes in paper with economist Adam Smith, and more than £ 8 billion. £ 50 paper notes with entrepreneur Matthew Boulton and engineer James Watt, in circulation.

That is more than 300 million. individual £ 20 banknotes and 160 million. £ 50 banknotes in paper.

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It’s been a year since the bank first issued the polymeric £ 50 note with Bletchley Park code breaker and scientist Alan Turing. That Turing 50 completed the bank’s “family” of polymer banknotes, with all its denominations – 5, 10, 20 and 50 – now printed on polymer.

Bank of England Chief Cashier Sarah John said: “Changing our banknotes from paper to polymer in recent years has been an important development because it makes them harder to counterfeit and means they are more durable.

“Most of the paper banknotes have now been taken out of circulation, but a significant number are still in the economy, so we ask you to check if you have any at home.

“For the next 100 days, these can still be used or deposited in your bank in the normal way.”

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Javed Iqbal

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