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Finance & Economics

UK withdraws paper ￡20 and ￡50: here’s when

Jun 23, 2021

The financial institution encourages people to spend them or deposit them at their bank ahead of this date

UK notes

UK withdraws paper ￡20 and ￡50: here’s when. Source: pexels.com

Bank of England has revealed that 30 September 2022 will be the last day Brits can use Bank of England paper ￡20 and ￡50 notes.

After 30 September 2022, these paper notes will no longer be legal tender.

Instead, the new polymer ￡50 note will start to become available in bank branches and at ATM’s in the coming days and weeks.

The polymer ￡50 note?contains advanced security features, completing our most secure set of Bank of England polymer banknotes yet. The note will join the Churchill ￡5, the Austen ￡10 and the Turner ￡20, meaning all Bank of England banknotes are now available on polymer.

Our banknotes celebrate some of our country’s most important historical figures. That’s why I am delighted that Alan Turing features on the new polymer £50 note. Having undertaken remarkable codebreaking work here at Bletchley Park during the Second World War, he went on to pioneer work on early computers, as well as making some ground-breaking discoveries in the field of developmental biology. He was also gay and was treated appallingly as a result. Placing him on this new banknote is a recognition of his contributions to our society, and a celebration of his remarkable life
Governor Andrew Bailey

We’ve reported that Bank of Scotland presented new polymer ￡50 note design.

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