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Time is running out for cash lovers to spend their £20 and £50 notes. The deadline to spend them is in just six months time.
As of Wednesday, September 30, 2022, all paper notes will go out of circulation. After this, you are able to exchange them at the Bank of England for new polymer versions that are harder to copy.
The Bank of England say on their website: “On 20 February 2020 we issued a new polymer £20 note. Many banks will accept withdrawn notes as deposits from customers.
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“The Post Office may also accept withdrawn notes as a deposit into any bank account you can access at the Post Office. And, you can always exchange withdrawn notes with us.”
The new polymer £20 notes will feature Romantic painter J.M.W. Turner, while the £50 notes will include computer scientist Alan Turing. The introduction of polymer banknotes make them even harder to counterfeit.
Alongside enhanced security measures, the new £20 notes come with a unique Snapchat feature. People will be able to make their notes ‘come alive’ by using the app, as they are transformed into a live piece of artwork through a phone’s camera.
