Question: How Do I Exchange Old Bank Notes?

Can I still change old 10 notes?

Paper £10 notes were withdrawn as a legal tender in March 2018 and paper £5 notes were scrapped way back in May 2017.

These paper notes are no longer legal tender, meaning they can’t be used to pay in shops, but the good news is you can still deposit them or exchange them for cash..

Do British pounds expire?

On October 15 2017, the round pound ceased to be legal tender. This meant Brits could no longer use them to make purchases in shops, supermarkets, vending machines and even car parks. The coin was phased out over six months, to pave way for the new 12 sided £1 which launched in March that year.

What can I do with old 20 notes?

The best way to get rid of the paper banknote is simply to spend it in a shop, or deposit it at a local bank or building society. Shops will stop accepting notes from the day they’re officially withdrawn by the Bank of England, whereas banks will typically allow you to deposit old notes for a while after the date.

What are old 10 shilling notes worth?

Older notes from pre-decimalisation are more in demand. A ten-shilling note can be exchanged at the Bank of England for 50p. Yet they are selling for between £2 and £5 each on eBay. So if you found a wad of 20, you could make £100.

Do banks still take old 50 notes?

The note went into circulation in November 2011. Anyone who has an old £50 note – which was first issued in April 1994 – can exchange it at any bank, or spend it, by the end of April. … Any old notes that no longer have legal tender status can be exchanged at the Bank of England itself at any time.

How long can I use old 20 pound notes?

When do the old £20 notes expire? Paper £20 notes can continue to be used as normal for now, as an end date for their use is yet to be announced. According to the Bank of England, it plans to give six months’ notice before the paper £20 is taken out of use.

Can old notes still be exchanged?

Exchanging old notes You need not visit the branch of the bank where you have an account in. If you want to exchange up to Rs 4,000 in cash, you can simply go to any bank with a valid ID proof. This limit of Rs 4,000 for exchanging old notes will be reviewed after 15 days.

Who is on the 10 pound note?

Jane AustenWe first issued our current £10 note in 2017. It features the author Jane Austen.

Is paper money worth collecting?

Generally speaking, most modern-era Federal Reserve Notes (or paper currency made since the last silver certificates were issued in 1964) is worth very little over face value. … While paper currency made before the current series has some collector value, it’s normally only a few bucks over face, at best, if it’s worn.

Can you exchange old bank notes at the post office?

Many banks will still accept old notes as deposits from customers. The Post Office may also accept them as a deposit into bank accounts you can access at the Post Office. You can also exchange withdrawn notes with The Bank of England.

Are old bank notes worth anything?

As a rough rule of thumb, Pattison says anything from before 1960 is worth getting valued. Even the 1956 old black and white fivers, which a lot of people kept, can sell for good money. One in mint condition is worth about £50. He also says it’s worth checking if you have any provincial banknotes.

Can you still use the old 20 pound notes?

On 20 February 2020 we issued a new polymer £20 note. You will still be able to use the paper £20 note until we withdraw it from circulation. … The Post Office may also accept withdrawn notes as a deposit into any bank account you can access at the Post Office. And, you can always exchange withdrawn notes with us.

Can you exchange old 10 notes at the bank?

But old bank notes retain their value for all time, so while you can no longer spend them on the high street, you can return them to the Bank of England, or most major banks if you’re a customer, and get a new polymer banknote in exchange.

What does the new 20 note look like?

The UK’s most popular banknote, the £20 note has a new design. It portrays the 19th Century artist JMW Turner, and its security features include two see-through windows and a metallic hologram, as the BBC’s Simon Gompertz explains.

Where can I change old 50 notes?

If you have an old £50 note that is no longer in circulation, you can exchange it for a new one with the Bank of England. For those who live in London, you can exchange your old notes with the cashier in person at Threadneedle Street.