Just 100 days left to spend paper £20 and £50 notes



alexander

Striker
Replacing the existing notes and coins in circulation is expected to be a lengthy process, so we will still be spending money with Queen Elizabeth II on for some time to come. The Bank of England first issued its new polymer £20 note in February 2020 whilst the new £50 note was first issued on 23 June 2021, featuring the scientist Alan Turing. The last day you can use the paper £20 and £50 notes is 30 September this year, meaning the process of recall and replacement has taken a total of 19 months.
So just five days left to spend the old paper notes. If anyone is left with some, do they just become worthless by next week or how does it all work ?
 

42

Striker
So just five days left to spend the old paper notes. If anyone is left with some, do they just become worthless by next week or how does it all work ?
Can still pay them into the bank, but not sure how it works for some who doesnt have a UK bank account. The post office might exchange them, but not 100% on that one.
 

alexander

Striker
Can still pay them into the bank, but not sure how it works for some who doesnt have a UK bank account. The post office might exchange them, but not 100% on that one.
Will it be the same with stamps ? Not that they are very dear but still, it would be a bit of a waste not using them. I only have my own simple logic thinking to work on but in my head it would be easier to produce new stamps with your new Monarch than it would be producing new money ?
 

PJH

Striker
Can still pay them into the bank, but not sure how it works for some who doesnt have a UK bank account. The post office might exchange them, but not 100% on that one.
Banks tend to be fussy about it unless you bank with them. So easier if people are near their own branch (which has likely closed) to change it.

Get quite a few customers who pay in paper £50 notes. Wonder if they'll just end up with the polymer ones. Always buy around £10 of stuff too. Really annoying using all my £20 pound notes on those pricks.
 

42

Striker
Will it be the same with stamps ? Not that they are very dear but still, it would be a bit of a waste not using them. I only have my own simple logic thinking to work on but in my head it would be easier to produce new stamps with your new Monarch than it would be producing new money ?
Actually that just reminds me, they are replacing the old stamps with new QR code ones. But the Post Office has said they'd swap them.
 

Dogbark

Striker
With the risk of sounding insensitive, sorry, but with your Queen's passing will that make the Sterling notes and postcard stamps I have left from my recent trip back over invalid by the time am back over next year or will they still be useful ?
Yes they will be invalid. Send them to me and I'll take care of them for you😜
 

zippie

Full Back
Anyone with considerable stashes for unscrupulous reasons won’t be happy, as the post office will only change a certain amount. I took some old 20’s about 2k and had deposit it into a bank account. Anything larger the banks want to know the origin of the deposit. The same goes for significant withdrawals. Irritating when it’s your own money, but you can see their point due to laundering and conmen taking on old folk.
 

League Wan

Central Defender
Self service checkout took a paper £50 which I was surprised at. Might be an idea of people don't want the hassle of someone asking a million questions
 
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42

Striker
With the risk of sounding insensitive, sorry, but with your Queen's passing will that make the Sterling notes and postcard stamps I have left from my recent trip back over invalid by the time am back over next year or will they still be useful ?

New Charles notes aren't coming out until 2024 & stamps will come out once existing stock has gone
 

legend7

Winger
It's odd that few places accept £50's given their current value must be similar to £20, 30 odd years ago. But 30 odd years ago, £20's were quite common & readily accepted.

Mind with electronic payments these days, it pretty much renders high value notes pointless
Plus it's odd we rarely have them yet you get 50 euro notes out of Atms all of the time abroad and its no big deal at all
 

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