Even though you cant spend these old paper notes, its worth checking old bags, wallets and even the kids money boxes as you can still exchange old 20 and 50 notes. We personally wouldnt expect any coins from before the decimalisation of the UKs currency system, such as shillings and florins, to be accepted but recently withdrawn coins such as the round pound should be no problem. Just go up the town to your bank and they will give you English sterling with your bank card at the foreign exchange desk. 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. We also may change the frequency you receive our emails from us in order to keep you up to date and give you the best relevant information possible. Oxfam An organisation dedicated to ending poverty and providing the means to live to millions of people around the world, Midlands Air Ambulance Provides life-saving air support to six Midlands counties, Alzheimers Society Supports people affected by dementia and funds research towards a cure. TSB says old 20 and 50 paper notes are still accepted over the counter in branches to deposit in TSB accounts. Scotland uses the Pound Sterling, which is the currency used throughout the United Kingdom. One option is to take the old paper notes down to the Central Bank in person. We often link to other websites, but we can't be responsible for their content. Use the Global Player app to listen to live radio for LBC & LBC News. Paper 10 notes were withdrawn as a legal tender last March and paper 5 notes were scrapped in May 2017. The reason for this is purely because Scottish notes are rarely seen in some areas of England, meaning the person receiving the note is unsure of its validity. Anything more than this and they will deposit the money into a chosen bank account. The Bank of England counter is open from 9.30am 3pm from Monday to Friday. 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. There are plenty of options if you happen to come across old banknotes and coins and you should be able to get rid of them without a problem. This can be a valid passport, driving licence or an national identity card from any EU country. more, You seem to have JavaScript disabled. Never had any problems spending Scottish banknotes south of the boarder. Would you like to give more detail? This is the version of our website addressed to speakers of English in United Kingdom. SueHaywardis a personal finance and consumer journalist, broadcaster and author who regularly chats on TV and Radio on ways to get more power for your pound. Upload a picture of your coin and our team of experts will evaluate the coins condition, rarity, and historical value to give you an accurate market price estimate. The Bank of England suggests that unless you need to swap your notes urgently you consider sending them in by post (opens in new tab). ': Nick Ferrari backs proposal to scrap benefits for parents of truanting, 'Nothing about Brexit is normal or fair': James O'Brien brands vote leave advocates as, Caller claims it's 'ridiculous' his neighbour Jeremy Clarkson has been denied planning, Marr: If Sunak is moving the Tories to the centre ground, that's going to put the, Menopausal women could be offered paid leave, under Labour plans to tackle worrying. This means that cafes, bars, shops and restaurants will no longer accept the paper 20 note. Heres how it works. In short, we are responsible for checking if the six Scottish and Northern Ireland banks that issue banknotes are complying with the asset-backing rules. However the lady at the counter made an exception because I was also depositing a large amount of notes. Non customers can exchange 20 and 50 paper notes for polymer versions - up to a value of 250. Some of these banknotes are of very high value, including 1 million banknotes (known as Giants) and 100 million banknotes (known as Titans). Some folks will tell you that they'll accept Scottish notes but do you really want to take that chance? Doctor who delivered Vladimir Putin's love children with mistress dies suddenly after revealing existence of his two, Exclusive: Matt Hancock told to quit as MP after WhatsApp messages over care home Covid, Ex-Leeds United footballer jailed for 17 years after raping teenage girl and taking, Jeremy Clarkson denies he has been axed from Who Wants To Be A Millionaire? RBS/NatWest has said it will continue to accept old 10 notes from its own customers after March 1. Holders of these notes should exchange them with AIB as soon as possible. Nothing searched for. Old 20 and 50 paper notes stopped being legal tender in the UK on 30 September 2022. They were both replaced with plastic "polymer" versions. If youve got a large amount of notes stashed away worth knowing there is a limit on the amount you can exchange at the Post Office which says you can only swap up to 300 in old notes every two years. Despite this, there are many popular branches including Halifax, Lloyds, and the Bank of Scotland who will exchange old notes and coins for you or deposit them into your account. But can you still exchange them, will banks - or anyone else - accept them and what should you do with any you find? Keep in mind that it may not be in your best interest to send large amounts of money via post. 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. Cheers. Currency within the UK changes fairly frequently leading to coins and banknotes being taken out of circulation. Due to the sheer volume of questions we get about old coins and banknotes and what you should do with them, weve included an FAQ section to answer some of the most common ones. The most well-known are notes that are missing the chief cashiers signature. The final date you can use paper 50 notes is September 30 next year - the same goes for paper 20 notes. Anything I post is my opinion, so from time to time I may be wrong. Can Bank of Scotland use Halifax? Debit cards, cheques and contactless aren't legal tender anywhere. England and Wales company registration number 2008885. We use the Halifax/BOS. Despite this, there are many popular branches including Halifax, Lloyds, and the Bank of Scotland who will exchange old notes and coins for you or deposit them into your account. "The Sun", "Sun", "Sun Online" are registered trademarks or trade names of News Group Newspapers Limited. 18 December 2016 at 1:58PM. Paper 20 and 50 notes . There is no time limit on exchanging withdrawn bank notes at the Bank of England as it will accept them indefinitely. 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. Bath To inquire about a licence to reproduce material, visit our Syndication site. The difference is that some English traders (especially the further south you go) will not accept Scottish banknotes. Some more recent withdrawn coins can be worth more than their face value as well. Coins are manufactured and issued by the Royal Mint. Does it have to be BoE notes? New notes include a hologram image, watermark, foils, raised print, ultraviolet features and metallic thread. When presenting notes at the counter youll also be asked for one form of photo ID. In some cases you may be able to exchange some old paper notes for the current polymer version at selected Post Offices. Scottish philosopher and economist Adam Smith features on the paper 20, and Matthew Boulton and James Wyatt appear on the old 50 note. No time limit on when this will end. LBC News 0. Royal Mint is "to release new Beatrix Potter 50p coins including Peter Rabbit" and they could be worth 840. Due to how recently the old round pound coin was taken out of circulation, it is no surprise that a lot of people have asked us whether these can be exchanged or not. The Post Office will deposit old Scottish paper notes into your bank account, which you can then withdraw. You can do this at any of the Post Office's 11,500 branches as long as you're a customer of one of 25 banks - see the box below for the full list - but you can't exchange paper notes directly for polymer notes. Old paper 20 notes expired on 30 September 2022. But banks don't legally have to keep accepting old money, so it's worth checking with yours before you head to a branch. The Bank of England have to give up to six month's notice to when an old note will cease as tender, though the new 20 note was first issued on . The latest house price index from Zoopla shows sellers are accepting a 4.5% discount on asking prices to secure a sale as the property market cools do. England and Wales company registration number 2008885. It must also be accompanied with a covering letter and a copy of photo ID and proof of address. The six Scottish and Northern Ireland banks must, by law, set aside assets that are worth at least the value of all of the banknotes they have in circulation. You can also exchange them by posting them to the Bank. on the web. There's no exchange rate - in theory, English and Scottish notes have the same value, but it doesn't seem that way when you try and spend the Scottish ones in the heart of London Conversly, we visit Scotland frequently and you should see the look we sometimes get when we present an English 10 note! Unfortunately, the Bank of England does not accept old coins and so these must be exchanged another way. Paper 10 notes were withdrawn as a legal tender in March 2018 and paper 5 notes were scrapped way back in May 2017. Editor, Marcus Herbert, http://www.bankofengland.co.uk/banknotes/about/faqs.htm#16, http://www.moneysavingexpert.com/news/banking/2010/05/true-or-false-scottish-notes-arent-legal-tender. Get answers to your questions about Icmeler, NEW: Some average prices for food, drink etc - 2019, NEW - Transfers from Dalaman- shuttles and private transfers, NEW - Icmeler - Some Tips for Icmeler Newbies, Accommodation services tax from January 2023. HERE's which banks allow customers to deposit old paper notes into their accounts at the Post Office: You can send your out-of-date fivers or tenners by post, and the bank will pay your money into a bank account (normally within ten working days), by cheque or, if you live in the UK and your exchange is worth less than 50, in new banknotes. The transfer of funds can take up to 10 working days. Different banks have their own rules in place covering how they will handle paper banknotes while some are happy to exchange them for new polymer notes, others are not so understanding. Clydesdale Bank and Yorkshire Bank say all customers can deposit old notes into their bank accounts with no limit on the amount you can pay in. Something went wrong, please try again later. Whistleblowing is when an employee reports suspected wrongdoing at work. Meanwhile HSBC and RBS Banking Group, which covers NatWest, Royal Bank of Scotland and Ulster Bank, say customers can swap or deposit old notes. 25/01/10 - 16:15 #11. . This was the same date that the old 50 note expired. Weve got 5 ways you can get rid of your old coins and banknotes, and possibly get something back in return. This means that, if one of the banks failed, the backing assets could be used to reimburse everyone who has one of its banknotes. This is the version of our website addressed to speakers of English in the United States. Some folks will tell you that they'll accept Scottish notes but do you really want to take that chance? Issued in February 2020, the new 20 note features British Romantic painter, JMW Turner. The bull market in this commodity is over, Avios offer: How to stack up thousands of extra Avios bonus points, Nationwide: House prices see biggest dip since 2012. Finally, the new 10 note which was issued in September 2017 now has Jane Austen on it. Coinciding with what would have been his birthday, the Bank of England today has released its newly-designed 50 bank note, featuring mathematician and computer scientist, Alan Turing. oh, so not so hard to get hold of this funny english money!!!! Just had a call from a colleague asking if we can accept a 100 Scottish note. The paper 10 notes is officially no longer legal tender. 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. To use our mobile site, please enable JavaScript. There is currently no time limit when it comes to exchanging your old banknotes at the Bank of England. 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. This info does not constitute financial advice, always do your own research on top to ensure it's right for your specific circumstances and remember we focus on rates not service. . Flat fees vs percentage fees - are you paying too much for your investments? Cats, cheese and travel areSues passions away from her desk! so do note you use the information at your own risk and we can't accept liability if things go wrong. The Bank of England has told us it doesn't know the exact make-up of the notes still out there, so some of the missing 10 notes will predate the Darwin design - occasionally, the bank does see notes from as far back as the 1960s being returned. 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 itself says it will honour withdrawn currency forever, so you will still be able to swap old notes. Scotland prints its own bank notes, so although the money is worth the same amount, the notes look quite different. or Old coins can sell for as much as 10 a kilogram on eBay. The polymer 5 note, meanwhile, was issued in September 2016 and features Sir Winston Churchill. Email us at money@the-sun.co.uk, I worked in Wetherspoons for 5 years - here's the dishes you should avoid, Iconic dessert making a comeback in cost of living crisis - it only costs 2, Aldi shoppers rush to buy heating gadget that warms up your room 'in minutes', High street giant to close depots putting 1,400 jobs at risk as it shuts shops, News Group Newspapers Limited in England No. Wed also like to use some non-essential cookies (including third-party cookies) to help us improve the site. But as of October 2022, shops will no longer accept paper notes. So here's what to do with these old notes: This works out at 242 million individual 20 notes and 106 million paper 50 notes. Most banks have said they will continue to accept deposits of the old paper tenner from their own customers after March 1. As of today (June 23, 2021) there are polymer banknotes for every denomination: 5, 10, 20 and 50. There is no time limit. 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. This should be done by recorded or special delivery - however once again it warns that this too could mean, a wait time for your payment may be in excess of 30 days. If you have any other questions you would like to see featured then please let us know. The transition from paper notes to polymer notes is part of increased security measures. For other inquiries, Contact Us. Get our money-saving tips and top offers direct to your inbox with the Mirror Money newsletter. For further details of our complaints policy and to make a complaint please click this link: thesun.co.uk/editorial-complaints/, MoneySavingExpert reveals there are 222million paper notes out there that can no longer be used, First look at new Gruffalo 50p coin now on sale with prices starting from 10 each, paper 5 notes were scrapped way back in May 2017, polymer 20 note featuring JM Turner will be issued in 2020, slippery and "easier to lose than old ones", Royal Mint is "to release new Beatrix Potter 50p coins including Peter Rabbit", Independent Press Standards Organisation (IPSO). To other websites, but we ca n't be responsible for their.! Mind that it may not be in your best interest to send large of. Swap old notes to live radio for LBC & LBC News will accept them indefinitely Scottish notes but do really... Top offers direct to your Bank account, which you can also them... Valid passport, driving licence or an national identity card from any EU.! Exchanging your old coins and so these must be exchanged another way February 2020 the... Large amounts of money via post really want to take that chance taken out of circulation radio for LBC LBC! I was also depositing a large amount of notes because I was also depositing a large amount of.! `` the Sun '', `` Sun Online '' are registered trademarks or trade names News. Paper 20 notes if we can accept a 100 Scottish note from a colleague asking if we can accept 100. Accept old coins and so these must be exchanged another way most banks have they., cheques and contactless aren & # x27 ; t legal tender in March 2018 and paper 5 were... Tender in March 2018 and paper 5 notes were scrapped way back in.! This is the version of our website addressed to speakers of English in the UK 30. Some cases you may be able to swap old notes so these must be exchanged another.. 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Worth 840 be a valid passport, driving licence or an national identity card from any EU country Scottish notes... Anything I post is my opinion, so although the money is worth the amount... 2020, the Bank of England counter is open from 9.30am 3pm Monday... Note, meanwhile, was issued in February 2020, the new 20 note a covering letter and copy. They 'll accept Scottish notes but do you really want to take the old 20. But we ca n't be responsible for their content UK changes fairly leading. Soon as possible wrongdoing at work fairly frequently leading to coins and banknotes being taken out of circulation hold. Version at selected post Offices ; t legal does halifax accept scottish notes anywhere more recent withdrawn coins can sell for much... Them with AIB as soon as possible own customers after March 1 asked for one of. That they 'll accept Scottish notes but do you really want to that. Was the same date that the old 50 note expired in branches to deposit in tsb accounts cheese and areSues... Group Newspapers Limited Scottish paper notes post Offices notes from its own Bank notes, so so... Plastic `` polymer '' versions, http: //www.bankofengland.co.uk/banknotes/about/faqs.htm # 16, http:.. The transition from paper notes to polymer notes is September 30 next year the.

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