Some more recent withdrawn coins can be worth more than their face value as well. We have a published approach to regulating Scottish and Northern Ireland banknotes. Scotland uses the Pound Sterling, which is the currency used throughout the United Kingdom. Scotland has no problem accepting English notes, but shops in England have been known to refuse the Scottish versions. HSBC says customers with accounts can pay in any old 20 and 50 in and no time limit for this. Businesses can also exchange old bank notes via post, but must complete a separate application form to do so. The Post Office has an agreement with all high street banks that allows them to accept a persons withdrawn banknotes and deposit the equivalent pound value into their usual bank account. Does it have to be BoE notes? New notes include a hologram image, watermark, foils, raised print, ultraviolet features and metallic thread. This means that cafes, bars, shops and restaurants will no longer accept the paper 20 note. As always you can unsubscribe at any time. It's up to them. At the last count there were 4.8 billion worth of 20 paper bank notes and 5.3 billion worth of paper 50 notes still in our pockets, piggy banks and wallets, according to the Bank of England. Cash of less than 20 will be exchanged for polymer notes. This is the version of our website addressed to speakers of English in the United States. 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. Theres just a few days left to pay with old style paper 20 and 50 bank notes as the last day to spend them is 30 September. Unique serial numbers are the easiest to find with collectors particularly favouring lower serial numbers or those with sequences such as 888888. The Bank of England's head office in London's note exchange desk lets anyone with an out of date note swap it for a current one meaning anyone with an old note can head there and swap their paper tenners. Find all the participating Post Office branches where you can exchange old notes. We don't as a general policy investigate the solvency of companies mentioned (how likely they are to go bust), but there is a risk any company can struggle and it's rarely made public until it's too late (see the. This is the version of our website addressed to speakers of English in United Kingdom. Nationwide says it accepts old notes (and coins) from existing members as they have to be paid into an existing account they hold with the Society. Different banks have different policies on this, so it's possible yours won't offer this option. In fact, the only advice given by the Royal Mint themselves on the topic is to try your luck with a high street bank. Take sterling and you won't have to worry. Old coins can sell for as much as 10 a kilogram on eBay. Press Spacebar or Enter to select, This page was last updated 17 January 2023. How to exchange old bank notes at the Bank of England, How to exchange old bank notes at the Post Office. This can be a valid passport, driving licence or an national identity card from any EU country. Youll need to send your damaged note to the Bank of England and in most cases - providing you have at least half the note you can get its full value repaid to your bank account. 0 [Deleted User] Posts: 1,693. When this happens, the Bank of England will usually give a set time period for people to exchange their old currency for the new coins or notes that are being released. 1.5K Posts. We use necessary cookies to make our site work (for example, to manage your session). 25/01/10 - 16:15 #11. . That phrase "I promise to pay the bearer on demand" is something that doesn't have a time limit on it, the Bank told Mirror Money. It's more common than you might think, the Bank of England says there are still a whopping 212million paper notes in circulation that can no longer be used. Always remember anyone can post on the MSE forums, so it can be very different from our opinion. Get there early is the message and go armed with the relevant ID. Whilst out and about, keep an eye out for charity collection boxes in particular. In some cases you will be able to exchange the paper notes for the new polymer notes even if you do not have an account with that particular bank, for example with Bank of Scotland and Virgin Money. The Bank of England will honour every banknote that has ever been issued by them, regardless of how long ago it ceased to be legal tender. If you are a resident of another country or region, please select the appropriate version of Tripadvisor for your country or region in the drop-down menu. The counter is open between 9:30 am and 3 pm on weekdays. Some of these banknotes are of very high value, including 1 million banknotes (known as Giants) and 100 million banknotes (known as Titans). However youll usually need an account with the relevant bank or building society so you can pay in the money rather than just swap notes over the counter. "The Sun", "Sun", "Sun Online" are registered trademarks or trade names of News Group Newspapers Limited. You may disable these by changing your browser settings, but this may affect how the website functions. The Sun website is regulated by the Independent Press Standards Organisation (IPSO), Our journalists strive for accuracy but on occasion we make mistakes. Alternatively, you may use. Luckily though banks will still accept these coins so you are not out of luck if you happen to own one of over an estimated 100 million old pound coins still out there. England and Wales company registration number 2008885. Weve got 5 ways you can get rid of your old coins and banknotes, and possibly get something back in return. There's one way to guarantee to get your old 10 note swapped head to the Bank of England itself. If you still have a paper version of the 50 and 20 note in your wallet, there's still time to swap it for a polymer version. The latest notes to be withdrawn from use are paper 20 and 50 notes, meaning people could be refused from using them from 1 October. Answer 1 of 6: Does anyone know for definite ifthe turks still don't accept scottish tenners for the visa. LBC All rights reserved. Warning as old 20 notes set to become unusable. There is no time limit. What to do with old 10 notes you find and the shops that still take them even though they're not legal tender any more. Steve Nowottny, news and features editor at MoneySavingExpert.com, explained: "Given paper tenners were taken out of circulation a year ago, and paper fivers almost two years ago, some might assume all the old notes have now been handed in. With the Bank of England estimating that there are still more than 2 billion worth of their old 10 notes in circulation, we are keen to help our customers by allowing them to spend these notes in our stores rather than having to exchange them at a bank," said Iceland group managing director Tarsem Dhaliwal, "That is why we are giving everyone an extra month to track down their old tenners and bring them to Iceland to experience our amazing range, quality and value.. Anything I post is my opinion, so from time to time I may be wrong. Halifax says customers can exchange or deposit 20 and 50 paper Bank of England or Bank of Scotland bank notes into Lloyds Bank, Halifax or Bank of Scotland accounts. We are an affiliate of the Royal Mint, meaning if you click a Royal Mint link and make a purchase, we receive a small commission. The Bank of England also has a physical counter you can take them to in Threadneedle Street, London. The final date you can use paper 50 notes is September 30 next year - the same goes for paper 20 notes. 0. The counter is located at the Bank of England, Threadneedle Street, London, EC2R 8AH and is open Monday to Friday from 9am to 4pm. The Bank of England is a 'prescribed person;, which means that you can make a whistleblowing disclosure about the Scottish and Northern Ireland banknote regime to us instead of your employer. Paper 20 and 50 notes . To inquire about a licence to reproduce material, visit our Syndication site. Bank of England banknotes held as backing assets may be kept either at an authorised location or at the Bank of England. . Members who are knowledgeable about this destination and volunteer their time to answer travelers' questions. The polymer 5 note, meanwhile, was issued in September 2016 and . Old paper 20 and 50 notes are no longer legal tender but you can exchange them at the Bank of England, some Post Offices and many high street banks will accept them too. 2022 report If youre looking to exchange old banknotes in return for useable money of equal value, your best bet is to send it directly to the Bank of England. Not only was Turing a computer pioneer, he broke the Enigma code during World War II, aiding British and Allied forces in claiming victory. The counter is open from Monday to Friday: 9:00am - 4:00pm, excluding Bank Holidays. Whistleblowing is when an employee reports suspected wrongdoing at work. Heres how it works with some of the major banks and building societies we contacted: Bank of Scotland says customers can exchange or deposit 20 and 50 paper Bank of England or Bank of Scotland bank notes into Lloyds Bank, Halifax or Bank of Scotland accounts. It also says you can send notes to it by post, but at your own risk. We use your sign-up to provide content in the ways you've consented to and improve our understanding of you. It will be at the discretion of retailers and service providers as to whether to accept them after this, but they don't have to. Take sterling and you won't have to worry. You can usually find out a banks policies towards honouring withdrawn currency by checking out their website. Necessary cookies enable core functionality on our website such as security, network management, and accessibility. Before sending, you need to fill out a form and send proof of your address with a scan of your photo ID. Holders of these notes should exchange them with AIB as soon as possible. Its worth calling your bank ahead of time however as they will usually only perform this service for existing customers. Cheers. We use the Halifax/BOS. The final date you can use paper 50 notes is September 30 next year - the same goes for paper 20 notes. For other inquiries, Contact Us. We investigate whether its better to choose an investment platform with flat fees, or whether percentage charges could work out cheaper. Lloyds says customers can exchange or deposit 20 and 50 paper Bank of England or Bank of Scotland bank notes into Lloyds Bank, Halifax or Bank of Scotland accounts. Or by navigating to the user icon in the top right. And accessibility message and go armed with the relevant ID you can send notes to it by,. Icon in the top right can take them to in Threadneedle Street,.. Pound sterling, which is the currency used throughout the United States have been known to refuse the versions! Employee reports suspected wrongdoing at work website addressed to speakers of English in the United.. Should exchange them with AIB as soon as possible the final date you exchange! 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